The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1888-12-12
POINTS ON SUGAR.
Are Hawaiian Planters Robbed
by The Trust?

4th, send sthc following "points on
sugar." which Will he found instruc-
tive reading to planters and others
interested in the sugar industry of
the Islands. Our correspondent
writes:
The price of raw sugar, Cuba
basis, SO test, at New York is 81
cents. The market is strong, with
an upward tendency. The New
York Shipping and Commercial List,
o well-known authority, had the fol-
lowing comments on the state of the
market in its issue of November
oath: RAW sugar is stronger.
Cables from Europe and more
active demand in London for both
cane and beet at higher prices have
impaired q iirmer feeling to holders
here, and quickened to some extent
the inquiry from buyers, but busl-
ness has been restricted by the
limited offerings on the spot and the
high prices which have been quoted
from foreign markets." After speak
ing of the business transacted in
Brazil grades, the Commercial and
Shipping List goes on to speak of
the grades which interest Hawaiian
planters. 1t says: "Centrifugals
are nominally quoted here for 6 TO
81 cents for SO test, which represents
buyers views, but the small stock
here is held much higher; in fact,
almost at fancy prices. -
Willett, Hamlen & Co., Of New
York and Boston, the famous sugar
brokers, in their circular on sugar
statistics, Nov. 22d, present the
following summary: "Stock in all
hands decreased 1915 tons for the
week, and as this was taken mostly
from refners stock the demand for
spot sugars was small. More busi
ness, however, would have resulted
but for the unwillingness of holders
to accept current quotations, partl-
cularly for low grade qualities for
which there is an increasing inquiry.
Receipts are falling off largely
which was to be expected, but on
the other hand the demand for re-
fined has fallen under expectations,
and is not easily accounted for in
the face of the smaller Louisiana
crop. This condition cannot last,
and the future of sugar is not en-
couraging to holders and producers.
| We have no advices from any coun-
try looking to as large crops as last
year except the Philippines; and
the beet crop, which has been re-
duced this week $4,000 tons by the
estimate of NJ. LIGHT, will no doubt
be further reduced. Reports from
Brazil are most discouraging for
supplies on the present basis OF
values. Total stock in all principal
countries, 327,039 tons, against
4G3, 92O tons at the same time last
year"
l have given these full quotations
from the latest weekly reviews i'll
New York to show planters on the
Islands the true condition of the
Eastern sugar market, as / am very
strongly impressed with the opinion
that deliberate attempt has been
made to mislead them on that point
since the Sugar Trust absorbed the
American Refinery Company.
In former letter presented the
fact that the Trust managers at New
York were preventing the publica
ton of true quotations, and | actu
ally gave the quantities purchased
at rate considerably higher thar
! authorized press quotations. The
payments for Hawaiian sugar mean
while were ON the lower published
basis, which amounted to q fraut
upon the producers. To what eX
tent this trick has been worked it il
| impossible to say, but comparison
, of the sugar reports from. San Fran
cisco, in the weekly Hawaiian Ga
t zette" of November Goth, convince
$ me that it has been very consistent,
practised.
e The correspondent of the "Ga
$ zette" on November 9th writes
"The market for raw sugar ha
: again hardened, and on Octobe
( 3lst, the price advanced to Ct cent
: for 90 degrees. The cargocs {
both the e. r. Bishop and Lad
{ Lampson will obtain the benefit {
4 this advance" This was an accl
/ rate report of the New York mark'
at the date mentioned, and the ac
4 vance should have Injured to til
: benefit of the owners of the sugs
t shipped by the Bishop and LAM
: son, but the following extract frol
G Williams, Dimond & Co.'s circul;
p in the same issue of the Gazette
: suggests more than doubt on thu
: head. Williams, Dimond & Co. r.
F.: port, Nov. 9th: "The Cuba bas
Il for delivery of Island sugar und'
Il contract declined to 81 cents fC
: 9G test on the 18th uItimo, and
G cents on the 18th. Yesterday "
e were advised of the sale of Cuba
S New York, 954 test, at 81 cents G
: the I'd instant, but the same has nj
e yet been confirmed by the II
: iinery."
T. Now, as a matter matter OF fac
the 6I cent rate 90 test was estal