The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1888-07-26
OUR SAN FRANCISCO LETTER
Per 5. ). australia" San Francisco,
July II, 1883.
(From our special Correspondent0

from our special COrFSS pOuueutl
The most important news for the Is
lands, by this mail, is the advance in the
price of sugar which is now quoted at
cents for 80 deg. in New York. The change
has been gradual as follows: on July 81
advance TO 555 cents, July 9th to 11-16
July 9th to rs, July 18th to cents.
The European and Eastern markets are
both firm and active, beet sugar in Lon
don being quoted at 14s Sd per 100 pounds,
granulated at IA and Standard A at ~
in New York. In San Francisco the mar
ket for refined sugars has been equally
active, there being an advance of e cent
ON July 9th and Il cent later on the same
day, a cent on July 18th, and p cent on
July 18th. The present prices now are {:
Cube sugar 83S cents, GRADUATED cents,
COntectOners ~, Extra c cents, and
Golden G ga cents. At New York there
are no sellers of granulated, supplies are
light and the market very strong.
The imports of raw sugar at San Fran
cisco, for the first half of this year, were
1914, 697 ,S35 pounds. Six cargOes amounting
TO %, $780, 900 pounds have been received
from Manila and almost the whole OF the
remainder from the Islands. Additional
imports from Manila will amount to 81 900
tons The value of all imports from the
Islands, for the first half of this year, has
aggregated 81 1854 ,054, an increase over last
year.
Congress has been deeply interested in
the sugar tariff. Cannon of Illinois offered
an amendment to the Mills bill to the eff
feet that sugars under No. IS Dutch stan
dard should be free, and above that stan
dard the duty should be three-tenths of
one per cent; also that bounty of cents
per pound should be paid to producers of
L,,,S, OIL
The question was vigorously debated for
three days when CannOn's amendment
was defeated. Fuller of Iowa wanted to
place all sugars on the free list, and this
was rejected. Dingley of Maine offered all
amendment, which was defeated, to fix the
duty not above No. Is Dutch standard
with an addition of 2-1O0 of a cent per
pound for each degree. On motion of
Mills the duty on molasses testing not
over IS degrees was fixed at ~ cents per
gallon. Mills was accused OF fixing his
schedule to suit HaVermeyer who was in
vited b fore the Ways and Means Commit
tee which had changed its ideas after see
ing HIM. An attempt was made to abolish
the drawback on sugar exported, but this
failed as did all amendments, the sugar
duties being allowed to stand as proposed
in the Mills tariff bill.
A reason given for the advance in su-
gar is that Claus Spreckels and associates
have cornered the stocks in New York.
Whether this be true or not, it Is certain
that the Trust is now sending to London
for supplies, whereas short time ago it
was sending cargoes away from New York.
The Trust endeaVOred to boycott brokers
who handled sugars of outside rehneries,
and it is reported that the brokers are now
bOycOtting the Trust. 1t Is also stated that
Claus Spreckels has cleared 81, OO0, 900 al
ready by the advance in sugar values.
The receipt of orders from New York has
strengthened the London market, which
also affects that in New York. This is con-
frmed by telegram to-day, from New
York, to the Call
There has been intense excitement |
among the trade over the sugar situation. |
Ii Is fact that the Trust rehneries are, |
none of them, taking orders for sugar, as !
they have more orders even than they can |
now fill with their present stocks of raw |
sugar, and, owing to the fluctuations of the |
market, they are afraid to contract for |
future delivery. The price of both raw |
and refined is expected to advance still |
higher.
In San Francisco it used to be the Gus !
.Om of both refineries to bill sugars at the |
price on the day of delivery, but when Mr.. |
WEIGH assumed the management OF the |
American, he changed that rule and |
agreed to supply all sugars at the figures |
quoted on the day they were ordered. The |
california, month or so ago, had its |
igures a shade higher than the American,
which has now orders that it will take |
thirty days to fill at 81 cents for granu-
ated. Mr.. WEIGH is refusing further or
lers and will soon be in need of more sup
Dlies. The demand upon the Coast REIN
,ries has been enormous this year and will
continue so for several months. 1t is limited
hat the American has sent away what it
low needs, four CargOes to New York and
me by rail to New Orleans.
The AttOrney-GeneraI of New York is
aking active proceedings, on behalf of the
rNrNln <l1n a
,reme Court having decided, in another
ase, that such corporations were illegal.
Mr.. A. B. Spreckels will leave on the 10Th
nst for Philadelphia, remaining there
probably till the end of the year.
The Hawaiian Commercial Co. continues |
@ pay It's monthly dividends, and is quoted
t from 500 to 500 per share.
News from China is to the effect that a
re at Hongkong, on May 31st, burned $50
ouses and caused the death of several
,hinese.
Russian and American female advisers
+ the Queen of COrea are working to Sc
ure the independence of the country
rom Chinese SuZerainty. The general
1nd IN the Chinese treasury has been COM
letely exhausted through repairs on the
elbow river and expenses for the Emper
RS marriage. All streets near the Palace
ave been closed to the public. The Ger
nan ). ). Zero was totally wrecked, on
une 18th, on Lamma Island. Buildings
ave been damaged by earthquakes at
,aku. Sporadic cholera is prevalent in
iongkong. Honan is practically ruined
rom the effect of the Yellow river floods.
The London Times gives full accounts of
ne success of the phOnograms sent to
.ondOn by Edison. Among communities
ions sent in and faithfully reproduced by
ne instrument were a poem, selections
n the piano and cOrnet, duets, and letter
} the Times, describing the success of the
lstrument, which was written out from
ne Photographic repetition of the voice
nat uttered it. A child of seven years
the voice of DR.. Powers which
he had not heard for two years
The Tahiti natives rejected the friendly