The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-06-14
SUGAR MARKET.

Our San Francisco correspondent
writes, June. 9TH, that a New York dis
patch OF that date reported the sugar
market unchanged, except that the
Manila basis had dropped to Arb; it was
4.95 when the Zealandia LETT San Fran
cisco. No new point was noted in the
San Francisco market.
NEW YORK.
Latest newspaper reports from New
York state that the depressing influences
OF heavy stocks in Europe, with stead
lily declining market there and more
or less pressure to sell, in addition
to accommodating supplies in Cuba,
resulted in a dead and heavy mar
ket, with the business transacted at
lower prices, and the general unwilling
ness on the part of consumers to buy
spot stock except TO supply some special
want. Furthermore, refners found but
moderate outlet for their product at
easier prices, and with such surrounding
influences a depressed feeling very gene
rally prevailed. A few lots of spot sold
on the basis of l3-I6@4 1915 cents for
fair to good refining, and 80 cents for 90
test centrifugals, but yesterday THESE
prices were barely obtainable, as con-
sumers showed no disposition TO bid
Cuba cargoes for shipment or ahoat
offered at 3 $40 cents, cost and freight,
for 90 test, and 1916 cents for SO test
10 I,,+ >
least one-siXteenth of u cent above buy
ers' views, and very little if any business
has transpired. The easier tendency OF
beet, together with more or less pressure
to sell, resulted in considerable business,
and large purchases are reported chiefly
for June shipment at lbs. cd. "a lbs. 7lod,
cost and freight, for first, and los. Sd. for
seconds, but yesterday firm offers to sell
at l2s. AID. for first and l9s. Add for
seconds failed to attract the attention of
buyers, and the whole market LETT off
dull and easy.
There has been a fair demand for re-
fined at New York, and although pro-
duction has increased, the supply has
been pretty closely sold up, but prices
have shown an easier tendency, particu-
larly for hard descriptions, granulated
having sold down to Ga cents. Some
| lots have been taken on specula-
tive account, but there has been scarcely
any demand for export. The market
closed about steady.
CUBA.
Rainy weather set in of late and inter
fered with the crop in several localities,
on which account large number of
planters have determined to conclude
grinding at once Although holders have
been forced to make large concessions
in prices, business remains light.
MANILA, AND MANILA SUGAR.
Gable advices to May oath show that
81 400 tons had sailed for the United
States since January LIST, against Al 100
for the same time last year; 59,615 tons
are now afoat for the United States,
against 80, 145 tons at the same time last
year. The stock in New York is II, 735
tons, against 1888 last year.
BEET CROP.
NJ. LIGHT estimates sowings at $50 900
tons increase for all Europe, except Rus
STA, and decrease in Russia of 125 900
tons, say a net increase of 225, 900 tons.
This is an early estimate, which may be
modified later. There being no doubt OF
the fact that the last crop was 10000
tons less than the preceding one, the
only plausible explanation of the present
large stocks in Europe, so far given, is
that the stocks at the beginning of the
crop were underestimate, or present
stocks are over-stated. Statistics in Eu-
rope are by no means as correctly kept
as in this country, owing to many diff
culties.