The daily herald. [volume] (Honolulu, Hawaiian Islands) 1886-1887, 1886-11-13
SATURDAY, NOVEMBER r3, 1886
SUGAR OUTLOOK.
Prices OF To-dny Compared With
Those OF Few Years Ago Stock
ON Hand-The Hawaiian Crop.


ON Hand-The Hawaiian Crop.
Sugar continues unusually low all
over the world, as compared with
prices few years ago; and is becom-
ing question of interest whether there
is to be any material improvement in
value very soon. Crushed Sugar at
&C is certainly cheap, viewed in the
light Of recent history. 1t is not neces-
sary to go back many years to find a
quotation of I6c There are scores of
housewives in this city who thought
they were doing well to get pounds
Crushed Sugar for dollar. 1t was
then I6c per pound by the barrel.
Now the figures are completely re-
versed Sugar is &c per pound by the
barrel and retailers are glad to give I6
pounds for dollar. A New York
paper of October 9th, now lying be-
fore us says; "Re6ned Sugar is now
selling at the lowest price for long
series of years, and there seems to be
no immediate prospect OF improve
ment" In another part of the same
paper we End this language: "Grauu-
lated has sold at 5.SIc which is the
lowest price known for long series Of
years" 1t remains for San Francisco,
heretofore one Of the dearest seaboard
markets of sugar In the United States,
to see New York in this article and 20
several points, as one of our rehneries,
and the largest one of the two, has
been offering to sell Dry Granulated
Sugar in barrels since October Sth at
5Ac. Five years ago, no one believed
such prices possible in the fall of 1886.
When nice white sugar is selling at
5A and &C per pound by the barrel,
there of course cannot be much in the
business for the planter; for on an
average about &C per pound OF this
money represents the duty which the
United States Government exacts on
all sugars imported from foreign coun-
tries, except the Hawaiian Islands, with
which we have reciprocity treaty.
The remainder is divided between the
planter and refiner. The business for
the past two or three years has netted
such poor returns that more than one
plantation in the large sugar districts Of
the world has been abandoned to other
objects Advices just at hand from
Havana report as follows; "Thc demo-
lition of another estate is being an
nounced, that of Santa Isabel, whose
machinery and sugar making apparatus
have been sold, and whose fields will
be hereafter devoted to cattle breed
ing" This is not bad change. Meat
is the only article of the table that has
withstood the decentralization which has
run through all commercial values in
the past few years. The cowboys have
been coming money. Those who have
had cattle upon thousand hills have
become millionaires, while those who
had thousand cattle upon single
hill are enjoying the fat of the land
NottiS Wv NSH uPOh aDoiihOliSd sugar
plantations, and meat commands better
prices than sweets.
Hawaiian sugar planters have com
planned much in the past two years,
but really they are the best off Of all,
because in addition to the price which
the Cuban planter gets for his product,
they reap the duty which the Govern.
ment excuses on their sugar. 1t so
happens that our sugar refners are
largely interested, directly and indi-
rectly IN the cultivation of sugar at the
Hawaiian Islands. In making con
tracts with the planters, tn are there
fore dealing with themselves to great
extent. To cut off all competition
from outside sources, and to make
things doubly secure for themselves,
their contracts with the Hawaiian
planters are based upon the cost of
dutiable sugars delivered in the United
States. II, therefore, they do not get
much more than the refining charges
on the sugar handled by them at the
refnerIes, they have the benefit Of the
duty to the full extent that they are inter