The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-05-03

ing a gain of ne this week. The Ameri-
can Refinery has Of course been guided by
these changes, and has lost nothing by
them. The last four price lists of the Cali
fornia Refinery have omitted the words,
met cash rates"
The advance here this week has been
mainly based on the improvement in the
New York market. On the 18th (last Sat
urday) dry granulated sugar was quoted in
New York at SIC to 6 7-l6c, while here it
was quoted at &c. Of course there was no
sense in selling sugar here at &c to 7-16c
per pound less than there, as New York is
the only market in the country with which
San Francisco has 10 compete. Our re-
hners are perfectly safe when their prices
are a fraction below the New York price,
with overland freight added. Formerly
the overland freight was &c per pound, and
there was that difference between this and
the New York market. This tariff was
understood TO be an arbitrary one, for the
benefit of local ref1ners. Fortunately il no
longer exists. During the late cut in
freights it has been possible TO get sugar
here from New York all the way by rail at
a freight of nc per pound. The old &c rate
will never be restored as 1T was out of
reason. 1t Is possible, however, that when
the present cruel war Is over, the rate may
be raised to 1c per pound. We are salts
fed that the local refiners would like to see
IL at that figure, as it would give them
good margin for profits. They cut things
quotations are made in the sixteenth part
of one cent, as referred TO above. On the
10Th (MOnday) dry granulated in New
York was advanced to 61Ic; on the Goth
65sc, and on the 2lst 65sc. The same rate
came through on the 22d yesterday,
though a New York paper quoted the rate
at nc, which was probably the price later
in the day.
RESULTS OF THE STRIKE.
1t will thus be seen that while we have
advanced the rate &c per Il, the price in New
York has been raised &c. We are still nc
below the New York market whereas there
would be no danger of competition from that
source, even under the existing cut in the
freights, if we were nc higher than the
New York quotation. The advance in New
York has been predicated in part on the
labor troubles in the refineries there Ow-
ing to the late low price of sugar, the re
fneries have not been forcing the market
at any point, and as a result stocks of re-
fined in the hands of jObbers and retailers
are quite moderate. Should the strike in
the Eastern refinerieS be prolonged for
some days, further advance in price
would be unavoidable. We are large con-
sumers of sugar, and the New York re-
liners are large producers, and probably
turn out two-thirds of the product of the
Atlantic States. When 60 900 900 people
are using sugar at the rate of As TBS per
capita per annum, it does not take long to
use up such a small surplus as must now
exist in the hands of jObberS and retailers
in the Atlantic States. A long strike
among the laborers of the New York re-
fneries means a big boom in the sugar
market, which will effect the whole coun-
try 1t is within the range of possibilities,
though not probable, that San Fran
cisco .refiners will yet sell their SUI
gars in the markets of New York,
Boston, Baltimore and Philadelphia.
We have already sent this year between
5000 and 10000 tons of raw Hawaiian
sugars to New Orleans, New York and
other Atlantic cities.
Both of the refineries in this city are in
full blast, though probably neither is work
ing up to its full capacity. The California
Refinery is acknowledged to be the largest
on the Continent. The American has re-
Gently been enlarged, and its new improve
ments are working admirably. Both re-
fineries are well supplied with raw sugars,
the imports of which, during the past four
months, have been unprecedently heavy.
The surplus product of the refineries has
of late found sale at various points on the
overland railroads, chiefly west of the Mis-
souri, river. One or more cOnsignmentS
have been sent as far East as Chicago.
The dropping of a few carloads of San
Francisco refined sugar in the streets of
Chicago was heard distinctly at New York,
and the wall that came back died away
only on the shores of the Pacific. The
New York Fehners did not like it at all, and
intimated that there must be no more of
that kind OF business IN the Lake city. The
advance here has provoked quite an in
creasedinquiry for sugar throughout the city
and State. 1t is surprising how many dealers
are just out of what they so much need.
A few more turns upward, even in the
small way of the past week, and there will
be such a rush for sugar as has not been
known in two years. Already the Gamers
are laying in supplies. 1t is probable
there will be no more crushed sugar at 614c
in this market this year, though of course
our prices VIII always be regulated to
great extent by the New York quotations.
THE VERY LATEST.
A special dispatch received in San Fran
cisco, just before the departure of the Zea-
landia, was as follows Being half-holi-
day in New York, business is generally sus-
pended, Strikers are still holding out So
far the strike does not affect Jersey City,
Philadelphia and Boston. formulated
opens this a. IN. at ne" There appears
to be no prospect of an early settlement of
of the sugar strike and the market for raw
is consequently completely demoralized.
Our latest Quotati0ns are