The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1885-10-22
SUGAR ON THE PACIFIC COAST.


jBT2ctstreetsr September 26th}.
The greatest excitement observable in
commercial circles in San Francisco for
years past occurred on the 18th instant,
when the California Sugar Refinery an
nounced an advance OF two cents a pound
on all grades. In view OF recent devei-
opments and proposed changes in the
sugar business of the Pacific Coast, this
is only what might have been expected.
The American Refinery has little or no
stocks on hand. 1t is said to have
purchased about half the Hawaiian crop
for three years. 1t has one cargo of
raws on the way from Manila, which
cannot reach here and be manufactured
for three months. The California Re
fnery, on the other hand, has large
stocks OF refined sugar on hand, and
knows that none can be received here
from any source before the end of the
year. These facts, together with the adj
vances reported from all parts OF the
world and prospective firmness OF the
sugar market, have induced the jump
reported.
As far as the local jobbers are con-
cerned, the rise is an agreeable one.
They always prefer to see sugar selling
at advanced prices, as they make little
or nothing out OF it at low rates. Those
who have laid in stocks in anticipation
of this jump will be material gamers. 1t
is stated that the California Refinery
will net a clear profit OF 81 900, 600 by
this transaction. Anticipating an adj
vance in the worlds sugar markets, they
have added largely to their stocks at low
figures, and are now in position to UNI
load at very marked advance This
has been the result of cool and mature
business management in the face OF an
attempt to force the California Refinery
out of the market. Nobody blames its
owners for taking advantage of the OPP
portunity thus afforded them, but, on
the contrary, many admire the more the
pluck and enterprise which has charac-
terized all their movements from the be-
ginning.
The American Refinery, on the other
hand, has been somewhat unfortunate
since its new Incorporation. 1t leased a
lot for the purpose of extending and en-
larging its buildings, bat the excava-
tons necessary to complete this purpose
are delayed pending the result OF litiga-
CATION. The shed being erected on the
city front, where its sugars are landed,
has fallen in, and the wharf, with some
80, 900 bricks intended for building oper-
atoms, has given way, about one-half OF
the bricks falling into the bay. 1t is
further generally conceded that the
capital subscribed in the new Organiza-
ton is insufficient to carry out their pro-
posed undertaking, and that the new
! building even will be insufficient to re-
fine the large crops for which they have
contracted, even if they sell every pound
of their product as soon as it is manu-
featured Taking everything into con-
! sideration, it will be found that the Cali
| fornia Refinery has the advantage in
capital, buildings, machinery and other
| facilities for the manufacture of sugar.
| Though making money for itself and its
originators, it has always dealt fairly
with the trade, and the majority of
! jobbers prefer to deal with it in their
! business transactions.