The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1888-02-18

''There will be considerable surplus
in the sugar market this year," said G.
August Spreckels. "Tne result will nat
urally be decline in the price of that
article, but how soon that will come [
am unable to say. The cause of the
overproduction lies in an increased pro-
duction in the Hawaiian Islands and
large importations from the Philippine
Islands,
els it not fact that you will try to
force the American Sugar Refinery out of
business by break in the sugar mar
ket, and in that way control the sugar
trade here ?" was asked.
"Well, we will try to get the trade. Ii
we can sell cheaper than the American
Sugar Refinery, We will naturally get
more trade l understand that they
have already reduced their price from
IL to Ga cents per pound"
A visit was then paid to the Office of
the American Sugar Refinery, where
President WEIGH expressed him freely
on the situation.
''The whole matter involved is the
question of supply and demand. We
have not reduced the price of our sugar
as yet, and do not propose to do it, yet
we may be forced to follow that course
at any time. Mr.. Spreckels has tried to
get us out of the field tor the last two or
three years, but we have been able to
continue our business nevertheless. The
public is interested in this matter to a
great extent, and it is our policy to re-
main in the field. do not anticipate a
great decline in the price of sugar, but,
of course, if Mr.. Spreckels sells that ar
ticle at lower rate than we do, we will
have to come down in our price. The
losses arising from such competition will
have to be borne by our companies"
Several wholesale dealers were inter-
viewed and they expressed the belief
that the war between the two rival re-
fineries will soon be inaugurated and
will have a tendency to lower the price
of sugar considerably. They could not
vouchsafe. however, that the public will
derive much benefit by the break in the
market.
WHAT NEW YORK PAPER SAYS.
The New York Commercial Bulletin
of February 9TH is responsible for the
following: The Secretary of the Sugar
Trust has returned from the Pacific
Coast and came down town to-day, it is
said, with large bundle of documents
under his arm, presumably to report the
results OF his mission. In regard to this
mission the street is already commenc-
ing to talk, and have worked out the
theory that in view of the contest already
going on between two San Francisco re-
iners, the American is to cut and slash
and make an onslaught on Spreckels
The Trust is meanwhile to stand behind
the American to make good it's losses
and finally admit it to the combination;
and then, possibly, it may be considered
beneficial to the consumers to reduce the
production on the Pacific Slope. 1t is,
however, also rumored that Spreckels is
looking for an opportunity to start re-
finery on the Atlantic Coast That GER
tainly would make matters interesting.
BEET SUGAR.
The following resolution was adopted
by the San Francisco Chamber of Com
merce February I'd:
RESOLVED, That the Chamber of Com
merce of San Francisco regards the propo-
sition to fix bounty on beet sugar pro-
duced in the United States at the present
time unnecessary, and strongly urges Con-
gress not to make any change in the pre-
sent tariff in respect to the article sugar.
RESOLVED, That the proposition of a
bounty, as suggested at this time, is dan
gerous one in that it contemplateS policy
which is not likely to be permanent enough
to give sufficient assurance to capitalists,
who are now disposed to invest money in
manufactures to warrant them in making
such investments, and iii developing man
ufacturing industries.
RESOLVED, That we regard it as unwise
and dangerous to introduce any policy in
the revenue system OF the United States,
which departs SO radically from the policy
which has made our country one of the
strongest nations in the world politically
and financially and under which a develop
ment unknown in the history of nations
has been experienced.
RESOLVED, That the Pacific Coast delega-
ton in Congress, and particular the delega-
ton from this State, be urged to use all
possible means to defeat any action in
Congress which contemplates change in
the present duty on sugar, and the estab-
lIShmppt of q bOuntv SyStoro
RESOLVED, That the lumber, fruit wine,
wool, and other important interests of the
Pacific Coast are equally interested in
the present tariff. and are
urged to unite with the Chamber in firm
and vigorous protest against the reduction
suggested, which threaten to destroy these
large interests