The Hawaiian gazette., 1888-02-14


supply. without paying duty thereon, would
require S4S,0o0.0o0 making total of So
100000 required Immediately 10 work out
the scheme. In the meantime Congress has
Its eve on these trusts, and will probably
inquire into their working.
Wiilet. & HamlIn of New York have issued
a secret Circular, which has been secured by
the press. on the condition of the sugar mar
ket. They say: Holders havl been sue
cessful in forcing of two parcerS of sugar by
6ednctinc 1 cent on sales but the attempt
TO place another thousand bags at the same
price proved a failure. The statistical posi-
ton OF sugar Is growing stronger every dav.
and the condition of this great market of the
United States appears ridiculous in view of
what the not distant future is likely to de-
vs!op. As the time comes nearer for sup
plies To senSlbly diminish. the advance will
become more regular ana permanent, and
the United States will participate in ii:
while, thus far, owing to the absence of all
speculative interest. such as exists in Europe,
our markets are influenced entirely by the
present supply and demand. and under the
policy p0rsued by buyers, it viii continue To
be poorly supplied, and the demand which
will govern prices here, and the advance,
when 1t reaches u on this basis, will De en-
urely legitimate. Reiiners' common stock is
senslbiy diminishing" This Is supposed to
be hint at the operations of the Sugar Re
fning Trust.
The 5000 ton iron ship W. J. Pirrie has
been chartered by the CALIFORNIA; Sugar
Refinery 10 proceed ia Manila and retur
win cargo of sugar. She Will carry about
1000 tons, thus making the total receipts, for
the California Refinery, amount to 5000
tons from that source.
Claus SpreeSelS aud J. d. SpeckelS have
visited the neigh horhood OF Chico, where a
meeting was held with the farmers. and ne
gotlations are now IN progress for the cree
ton of beet sugar factory IN that locality.
Raw sugar Is now quoted at IS cents. a
slight decline from last adyices.
Z. Hoeh Rofters' circular states that the
imports of raw sugar for the past year we're
2lS,342,641 pounds, making a total of 2lS.-
Sol.E6I pounds. The exports by sst were
25,sc4.5lI pounds, and for inland con lump
ton 1888 $50 pounds The stock OF raw
sugar OF hand on December 3Ist was 4,OCO,-
eco pounds, and the estimated production of
beet sugar IN California was 5I2, go pounds.
Fear OF ! sugar famine in San Francisco
was ex lressed about = fortnight ago. but
free arrivals from the Islands ana Central
America diSsipaUed the alarm. 1t WAS auth
oritatlvely stated that the American Refin
cry had completely run out of raw sugars
and had been compelled 10 suspend opera
tons for abouta week.
The Electric Sugar Refining Company has
been formed in Brooklyn. \. Y. 10 refine
sugar by electricity. The company claims
70 have secret machinery aud processes pro-
tecied by patent BY which sugar can be re-
lined IL two hours. and that the cost of re-
timing will be reduced from sic to So cents
per ion. No soft sugar Will be made and the
waste Of saccharine matter will be only one
half Of per cent. The new process, which
has been heard of for long time past. Is
The invention of . German electrician who
now seems to have induced capital to take
hold Of his scheme. Business will he com
menced on March LIST, and sugar, refined by
this process. Is promised for the market
within two months.
The Democratic members of the Ways and
Means Committee have completed their
tariff bill which will reduce the revenue by
S60,O00.O00 per anRum. Wool is to be ad-
United free: there Is 20 be reduction on the
tobacco and fruit brandy tax: salt, lumber
and other raw material Is 10 be free; the
sugar duty is to be reduced - per cent. The
Democrats are confident that this bill will
pass, though they may have TO make some
compromise on wool BY abOlishing the duty
only on certain grades.
The refinery OF MOller Sisrck & Co. IN New
York ls to be closed on February 4th by
order of the Eastern sugar trust. Lonisiana
has come out strong Republican. on account
Of the attempt to reduce the sugar duties.
and now fayOrs protection to every domestic
industry.
committee of the French Chamber OF
Deputies refuses to agree 10 an immediate
sur-tax on sugar, and insists that ii shall not
commence till September.
The ). (. Chronicle has surprised the pub
lie generally with strong article fayoring
reduction of the sugar duties and the pay
ment OF bounty TO ali domestic grown
sugars, especially faYoring the beet sugar |
industry.