The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1885-09-07

Refinery has capital stock of ST.
100000, besides its machinery and
buildings, both of which must be
extensively improved in order to
prevent them from getting five years
behind. Further than this there is
the important necessity of cash pay
ments to the Hawaiian planters i'm
mediately on receipt of the sugars,
for we do not presume that these
gentlemen have entered into an
"ron-clad compact" which would
be "ironclad''. only at this end.
They are far too shrewd men of
business. This So, 900 tons of sugar
to be paid for in cash within year
means So, 800, 900, taking the rate
at 500 per ton. 1t may be that the
agents in Honolulu are becoming so
opulent that they can afford to wait
for the money and even make adj
vanccs to the planters who are not
always overburdened with wealth.
This new monopoly may prove a
benefit to the Islands and we hope
that it will do so. But we doubt it.
That it will not affect the California
Refinery in the slightest degree is
self-evident. Its owners will have
at least some $4,000 tons of sugar
from the Islands, and it seems
strange that, up 10 the last minute
almost, overtures were made to them
for purchasing the balance of the
crop-which overtures were refused.
1t seems then almost as if the Ame-
rican Refinery were used as ''stop-
gap" so to speak, which would
hardly be flattering to those gentle
men who are its directors or trustees.
In previous sugar transactions the
new Island planter monopolists have
been accustomed to have their own
way. When they desired to sell on
the Cuban basis their terms were
accepted. When they desired to
change to the Manila basis their
proposals were again accepted. Not
content with the concessions continu-
ally made to them they have so anita
gonized the best friend the Islands
ever had as to induce him, though
very reluctantly, to refuse purchas-
ing future sugar crops. Hence the
offer to the American Refinery. 1t
has been even stated that the planters
proposed to sell to Eastern refiners.
Such an egregious piece of folly on
their part is inconceivable. Expert
ments were once made in shipping
sugar to New York and we believe
that they proved a complete failure.
This would entail long voyage
round the Horn, higher freights, q
deterioration in the quality of the
sugar and an average delay of
twelve months in obtaining returns
which would leave lower net profits
than they have been accustomed to.
1t has been insinuated that the Cali
fornia Refinery will have to suspend
operations. Such is not the case.
1t is on the contrary increasing its
facilities for manufacturing sugar.
There is plenty of sugar obtainable
both from Manila or Central America
which can be landed, duty paid, in
San Francisco, even cheaper than
the Hawaiian product. Ocean trans
portation is no drawback. With its
excellent wharfage accommodation
and transportation arrangements,
with perfect mastery of the busi-
ness which has been reduced to a
science, it is extremely probable
that the owners of the California
Refinery may be able to manufacture
sugar cheaper than ever and still at
q profit. The California Refinery
certainly can have no objection to
the transaction in question especially
rs the parties interested can not be
prevented from launching their
capital upon the venture, whether
such course be objected to or ap-
proved by any party not interested.
The carrying out of the proposed
scheme will prove to a certainty to
those who were not aware of it be-
fore, that the purchase by and sale
to the California Refinery of the
island sugar is not and never has
Oecn a monopoly.
(Bulletin, dug. 2GM.)
The proprietors of the American
Refinery have recently closed con-
tracts with certain Hawaiian planters
for about two-thirds of the sugar
crop for the ensuing year. This
means $4,000 tons, and possibly
: 10000 tons. The contract is to rur
) three years. Heretofore these con.
tracts have been made annually, an6
for the past two years the California
Refinery has been the purchaser
AS that refinery already controls
about third of the crop from its
own plantations, the purchase of the
other two-thirds gave it practically
; the entire crop of the Islands. This
has been the case during the yeal
s now drawing to close. Two years
4 ago the contract was on the Manl.