The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1885-05-23
THE SUGAR MARKET.
Another Rise ia RRWs-The MARI ct
Firm, with an Upward Tendency
Reports TO the - Advertiser
from All Parts of the
World.

The advices received by the Alamo Ia.
from the special correspondent Of the Nd
vERTIsEB, indicates continuance OF the
good news concerning the sugar market
that was received by the last mail from
the Coast New York quotations, on the
18th instant, were 7-1e cents for granu-
lated the market being very strong, with an
upward tendency.
The Manila basis, on which our sales are
effected, was 5.19 cents, being another jump
Of 10 cents per hundred within five days,
the latest quotations being 500 cents per
hundred
THE SAN FRANCISCO MARKET
Is strong, Notwithstanding the recent re-
duction eff = quarter of cent on Whites by
the American Refinery, which as we before
indicated, declines to fill orders. The re
suit Of this reduction has been greatly bene-
fetal to the California Refinery, which re
fused to be forced into any further reduction
in rates. The merch ants of San Francisco
seeing this fact have concluded, and wisely.
that bedrock prices in sugar have been
touched, consequently their orders are com
ing in fast and thick, so much so that, when
the Alameda left San Francisco, the Cali
fornia Refinery was behindhand in filling
the demands made upon it. The American Re
fnery still nominally keeps its rates a
quarter of a cent lower for Whites than its
competitor, yet it cannot fill orders. The
fallacy of this farce is obvious. Their at
tempt at
"cUT-THRoAr" POLICY
Has been an ignominiOus failure. The Cali
fornia Refinery reports that their orders for
sugars of all grades are constantly increas-
ing, and that they now have to fill much
larger supply than was ever known before in
the sugar history of California.
This is indeed
GOOD NEWS FOR HAWAIIAN PLANTERS
Further, the ADVERTISER is in position
to give the fullest particulars of the Lon
don market Thus: With increased firm
ness in the refined market refners lave
shown more disposition to buy, and prizes
of beet gradually rose till the quotation f ~
SO per cent was 12s. Cd. The deliveries oi
lOw-grade sugars continue heavy and mcr-
chants remain firm; grocery crystalljzed
has been in improved demand, the marl~t
closing fully Cd. to Sd. dearer. The demand
for yellows has continued, and further all
vance of Cd. to Is. has been established, Ia"
lowest quotation for grocery being now H..
Cd Mediums also have been in good
quest and show about the same advance ;"r
this description. There has Leen g.. i
export demand, and not lot remained uli-
sold yesterday. On the other hand, cryS-
tails, which have been relatively the cheap
est things in our market, are only about 81.
dearer, with rather a slow demand. CuLcS
have advanced Cd. Foreign loaves have
participated in the general improvement.
All descriptions of crushed are firmer.
LOWER STOCKS IN LONDON, ETC.
The stock of raw sugar in London cu
April 18th was nearly $4,000 tons less than
at the same date last year, and was %61
tons less than the average for the past three
years, when stocks were so heavy. The
production of sugar in European counti,s
has been checked by recent financial dis
asters The reduction in January is fully
20 per cent less than that of last year and III
Austria it is probably still more. In Cnha
many plantations have been abandoned and
a fire has destroyed hundreds of acres of
cane. These facts combined should cause
all Hawaiians, and all who are interested in
OR welfare, to rejoice over the future pros
poets of our staple industry, which are GER
tainly more satisfactory than they have
been for the past year or two. We trust
that the next mail will confirm our present
advices.