The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-05-03
THE SUGAR MARKET.
Continued Advance i'll the
Price of Refined Sugars.
Further Particulars of the New York
Sugar Strike.
A disturbed Notwithstanding. Etc,
Etc.

On the afternoon of the departure of the
Gaelic from San Francisco, the California
Sugar Refinery again advanced its prices
for all grades of sugars by quarter OF
cent per pound. This was on April 22d.
On the following day, April 23d, the same
refinery went % cent higher, prices in San
Francisco then standing as follows:
ca Pat Cube Sugar, ~; ca Crushed
Sugar, IN; Extra Powdered Sugar, N;
Fine Crushed Sugar, ~; Dry Granulated
Sugar, ~: Confectioners' A Sugar, Z;
Extra Sugar, go; Golden e Sugar, 81.
This sudden increase in the price of a
staple commodity was entirely due to the
strike in New York which had assumed a
very serious aspect. The Geographic news
to San Francisco was to the effect that the
strikers had adopted the riotOus cOurse-a
bad example set them by brother strikers
in other lines Of trade, and that there was
no prospect of an early settlement of the
difficulties between employers and en-
plOyees. The police had been summoned
at the New York sugar strike, but it APP
pears that they got the worst of it, and in
fact became badly struck themselves.
Slaves and pistols were the weapons mainly
in use, outside of stones and brickats and
other trif1ing accessories that are always
handy to a rabble mob. After defeating
the police, the strikers seized several sugar
wagons and dumped the contents into the
streets.
THE RESULT OF THE STRIKE
Is that the sugar market is very much ex-
cited There is no country in the world
that has a greater per capita consumption
of sugar than the United States, except
England; consequently the effects of the
strike are felt by thousands. At last &C
counts from New York the breach between
refiners and strikers was widening. Many
Eastern merchants, had predicted that
there would be a further advance of at least
one cent per pound before there was any
settlement of the difficulty. AS far as San
Francisco is concerned, the result of the
trouble has been to quadruple the demand
upon the California Refinery, which has
received Geographic orders from all parts
of the Union as to the available supply
and possible future quotations for filling
orders. Until few days ago the stocks in
San Francisco jObbers' hands had been ex-
ceedingly limited, the market, in fact
being more than bare, and stocks being
lower than were ever before known. Dur
ing the past few days there has been a
large speculative demand, jObbers buying
very freely. Furthermore, the canning
season is at hand, and the uncertainty of
the future of the sugar market has caused
an additional rush on this account.
RAW SUGARS.
While cOngratulating the refineries upon
the increase III prices for their goods, we
cannot but regret that the market for raws
has not followed suit proportionately. In
fact, in raw grades there is very little adj
vance and there possibly may be decline.
The strike has prevented the refners from
buvfng. because if they cannot run their
factories it is useless for them to lay in adj
ditional stocks. Anticipating a further
decline, the New York jobbefs had, pre-
vious to the strike, carried Just sufficient
sugar for daily requirements. The result
Is that they are now out and injured The
refiners are only selling very limited lots
at very advanced prices. In the meantime
the raw" market continues to drop on
account of the uncertainty OF growers
finding any buyers. The loss to the East
ern reRners is estimated. on competent
authorities, at from 100000 to 5000 900.
Where it will end is, at present, beyond
mans comprehension. To-day's telegram
from New York on the subject is as fol-
lows:
or To #
workmen in the Williamsburg Telineries
has doomed the price of sugar. Granu-
lated sugar was quoted at SIC Saturday
last; yesterday it reached nc. 1t is said
prices are sure to advance still higher.
The stock OF refined sugar on hand
amounts to practically nothing, Business
has been slack and dealers have been buy
ing sugar III quantities just sufficient to
supply the demand. Now that the cOun-
try demand has increased, the strike has
caused prices to advance out OF proportion
and cost of the natural course of trade. |
Raw sugar was quoted at 5 11-16c on April
l4th: Yesterday 1t was SIC. This shows q
slight advance in the cost of raw material,
which is not accounted for by the present
strike, but which will account for some
thing of the advanced price of refined
sugar. The strike, however, has tended to
very much strengthen the advance.
1t may be that the American Refinery of
San Francisco will begin now to regret its |
large and frequent shipments Of raw sugars |
TO Eastern points. The parties on the
Islands who are interested in the concern |
may also regret the occurrence. The little /
profit secured viii be as pDthiRg when COM /
pared with the large might -kaye-beens," /
AN INDEPENDENT OPINION.
The San Francisco Bulletin, which has /
always been very conservative in its Opin-
ions upon sugar subjects, says:
On January list, and for more than thirty
days afterwards, the price of sugar in this
market was nc for crushed, 714@7c for
and 612@534C for the two grades
Of yeIlOW These prices were subject to the
usual rebates, on February 4th the Cali
,ornia Refinery ahGlished the rebate
system, and announced as net cash
rates 6Jzc for crushed, 6I4c for dry gEahG-
ated, &c for extra graduated, 524c for
Extra c and 5I4c for Golden c. On Feb
-uary 18th the same refinery made
urther reduction at l{a per pound all
Ound in its net cash rates, which made j
ate of 6I4c for crushed, cube, fine crushed
md extra powdered, &c for dry granulated,
sc for extra granulated, 513c for Extra c
md sc for Golden c. These are the lowest
.ates ever quoted in this city. 1t is under
TODD that the American Refinery sold its
ugars on the same basis, though it made
10 public quotations The California Re
ipery adhered IL its February 18th sched-
lie until April 18th, When rates were raised
Sc per pound all round. On the following
= made another advance of ne all