The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-03-08
THE SUGAR MARKETS.
A Farther Drop I'm Cuban and Manila
Quotations


The correspondent of the ADVERTISER at
San Francisco writes that the sugar mar
ket has been the Only means, for the past
fortnight, of enlivening the dull times that
have been so prevalent on the Coast. The
reductions made by the California Refinery,
both in sugar and syrups, created quite
sensation. Orders flowed in thick and
fast. so Iauch so that it was almost diff
cult matter for the refinery to keep mp
with the times. The delay in the compile
ton of the works of the American Refinery
proved most detrimental to the San Fran
cisco jobbers, who deal exclusively with
the American. On the announcement of
the reduction in rates. all country dealers
naturally rushed in with their orders. But
the American Refinery jobbers were UNI
able to fill the demand of their customers
as their standby was only turning out 300
barrels day. which would not supply the
city demand for the American mixture.
The consequence was that these jobbers
went round San Francisco offering adj
vanced rates to the buyers of California
Refinery sugars. Such orders were of
course not filed, as those who stick to the
California know full well that they could
do better by adhering to a recognized and
substantial institution than by trucking
for a possible paltry profit to those who
were left out in the cold. Furthermore, as
the American Refinery jobbers could not
fill their country orders, it was possible
that the California steadfasts would receive
the trade of the Oppositionists, as it is very
natural for a country storekeeper to trans
fer the whole of his business to firm that
he knows can reliably fill his orders for one
of the most essential commodities of do
mestic use.
Since your last adVices the Cuban basis
has made big drop, no less than 3-l6 OF
cent per pound. Manila quotations are
also lowered to about the same extent
This viii be a serious blow to the Island
planters, whose supplies are just coming
on the market. The present prospects are
by no means favorable for an advance, as
reports from New York are Every dull,
with considerable pressure to SELL" Ger
man beet sugars have dropped nearly three
shillings in less than as many months. The
prospects for continuance OF the treaty
appear somewhat slim, judging by the
newspaper reports, though anything that
appears in the Chronicle" may always be
taken cum grano. The Morrison tariff
question is summarized below. We give
thelatest particulars as follows:
THE NEW YORK MARKET.
The market has again been characterized
nv extreme dullness, the business trans
acted both in spot and future supplies hay-
ing been of moderate proportions, and
values being still almost wholly nominal,
with the tendency in buyers favor The
London and other markets have continued
to decline. and in no way appear to have
recovered from the decentralization that
prevailed early in the week, beet having
beeD ouoted down to lbs 1012d, and fair
refining lbs Sd, which are the lowest prices
IN over nine months. Under the influence
of these adyices, together with q further
decline in the value of refined and CON
tinued heavy receipts to reiners by direct
importation, buyers here have shown very
little inclination to bid, while holders have
shown equal hesitation in offering their
supplies upon an unwilling market thai
was both weak and unsettled. The few
sales offered made no intelligent basis for
quotations, and accordingly values must be
accepted as purely nominal.
Tn refined there has been further de-
cline owing to the moderate demand and
accommodating supplies, and nearly all
grades are about nc lower Although IN
ferior stocks are known to be light. dealers
have continued to buy sparingly. The de
mand for export has entirely ceased.
THE SUGAR CROPS.
M. LIGHT has reduced his estimate tol
German crops 25, 600 tons. Other estimates
unchanged. The beet crop seems to be al
least 500 600 tons short, but the effect Of
this is poorly shown so far in the continued
decline in United Kingdom prices under
temporary large visible supplies from rapid
importations of java sugar and Russian