The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1885-10-05
THE SUGAR MARKET.
Further Fluctuations im San Fran.
cisco Quotations.

By the steamship Alameda, which arrived
here on September 22d, we heard of the ad-
vance made by the California Sugar Refinery
of two cents a pound on all grades of sugars.
This advance was followed by the American
Refinery. A couple of hours after the de-
parture of the Alameda from San Francisco,
the California Refinery issued second cir
cular on the same day, lowering its prices
by a half cent. This drop was also followed
by the American Refinery. That these sud-
den changes set San Francisco on the stir
can readily be imagined. But this was not
all. On September 18th the California Re
finery again made a change, this time adj
vancing 4 cent all round, thus making the
total rise, within a week, of z cents. The
American Refinery got tired of playing
follow my-leader," so announced that it
had no quotations to make and practically
withdrew from the market. This was in
deed an open confession that it had nothing
to SELL and that the publication of its quo
tations in the daily and commercial papers
of San Francisco was of little moment.
The comments of the San Francisco press
on the changes were very amusing. When
the two-cent rise was made the anti-Ha-
waiian sheets howled at the monopoly"
but never considered that there had been
firm and steady advance in New York and
London for some days previous. The
tyranny of the Sugar King and his impo-
sition on the public of California were the
key-notes from which these organs ground
their bass mechanical tunes. When the
drop of half-cent was made they piped
their shrill tones to the tune of 81 told you
so' and ''you had to do it," setting forth
facts and figures to show that the half-cent
had to be taken of as that was just the diff
ference which would enable Eastern sugars
to be placed on the San Francisco market.
But when the rise of 4 cent followed all
these sage and sapient opinions, how small
these augurs must have felt; and notwith-
standing the fact that sugar is weaker in
New York, it still remains at the l q cents
advance in San Francisco.
Little stock is taken in San Fran
cisco of the promises and proposed
proceedings of the American Refinery
Nobody believes that they will ef-
feet anything. The manipulations of the
commercial community on the Coast, and
the contradictory statements between tho
purchasers there of our Island sugars and
the statesmen here are not calculated to
restore that steadfast tone to our business
stability thatGs so desirable. In fact, we
have been informed of one prominent
merchant who said that he felt dis
inclined to enter upon further bust
ness transactions with Honolulu until
he was fully assured of the basis upon
which our merchants stood. OF course
there are some to whom such action would
be of little moment, they being of recog-
nized standing, and being represented
on the Coast by solid firms. We
learn from private advices that the Cali
fornia Refinery viii have almost 40, 900 tons
Of sugar from these Islands. and in addition,
that they have secured sugars from Central
America at less cost than they have been
paying heretofore. By the advance in sugar
they viii net over 81 500. 600, before the
American Refinery is again in the market,
in addition to their former profits.
THE NEW YORK MARKET.
An improved demand for refined sent
buyers into the market to replenish their
supplies of raw material, and large bust
ness has been transacted in spot stock at
hardening prices, sales which aggregate
G,OOO hhds. and 1876, 900 bags having been
made on the basis of ; 4 @555 cents for fair
to good refining, and 54@64 for centri-