The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1888-02-09
SUG R MARKET.
Wi Hams. DimOnd q Co.'s Circular
BY the Australia.

Our last circular was dated January
Sd, per steamship Australia:
Sugar-The price lists of the two local
refneries remain unchanged. The Cuba
basis remained at 525c for 96 per cent test
until the 18th instant, when sales of Cuba
centrfugals were made in New York, ad-
vancing the basis here to &c. On the 21st
instant, however, it declined again to SIC,
and there has been no further change re-
ported to date.
Previous to the 21st instant sales OF cen
trifugals, other than Cuba, were made in
New York as high as 61sc for SO per cent
test but the sugar not being from a Cuba
port did not affect the basis here for de-
liveries to the American Refinery.
This refinery started up again to-day,
having been closed for the past two weeks
waiting for raw material from the Islands.
Both refneries have received considerable
raw material the past ten days, and the
California is daily expecting arrivals from
Manila, SO both are in good position again.
1t Is evident now that the California Re-
inery has plenty of raw sugar, that there
must be soon a change in the prices of re-
fined.
Either the California Refinery will adj
vance its prices or the American must
meet them.
The brig Claus Spreckels, bound here
from Honolulu with 400 tons of sugar, ran
ashore about twenty miles outside the port
and both vessel and cargo proved total
loss
Eastern and Foreign Markets-The New
ork market is in much the same position
as last advised. Prices of refined keep up,
but raws remain rather quiet and inactive.
Until consumption materially increases,
refners seem to have sufficient stock on
hand and by direct Importation to answer
all requirements and are therefore not
forced to enter the market to any great ex-
tent. Holders, on the other hand, remain
firm in their views, backed by the strong
statistical position of the worlds supplies
and the increasing consumption. The
workings of the Sugar Trust are being felt
more each day, and the strength of that
combination is now very apparent.
According to present appearances, it
seems to work against the price of raws
and stimulate the price of refined. For
instance, while previously the refners en-
tered into competition in the purchase of
raws, and consequently advanced the
prices, now all such competition is done
away with. The public, of course, are not
benefited as the object is to advance refined
and keep prices relatively higher than they
would be with competition.
The capital of the Trust is supposed to |
be $50, OOO, 900. Another refinery has re-
Gently been closed by its orders.
Foreign markets have ruled little |
weaker since eur last report. Beets have |
declined, owing, it is said principally to
speculative interests. Latest reports, how
ever, show slight improvement again.
The price of beets, 80 degrees test, |
reached as high as los Sd on the 5th inst,
and on the 18th had declined to los 3d. To
show the fluctuations of the London mar
ket since that date, we give the following
quotations: 18th, los 41ld; 18th, los 11d;
18th, lbs: 21st, las 1011d; oath las 716d;
18th, las Cd; 9th, las ~, and 18th, las Cd. !
London cables of the 23d instant IRE
ported here by mail from New York; give |
the stock at four ports Z. K for the week |
ending January 21st as 5000 tons over the |
previous week, or 1874 ,984 tons against 1877
deliveries, Is 600 tons
The weakness of the London market is |
felt in New York, and although holders |
have remained quite hrm, it was admitted |
that to affect sales prices would have to be
shaded. This was shown later to be fact |
by sales OF centrifugals, 96 degrees test, be-
ing made at SIC when they had previously
sold at CSC. In the present condition of
affairs refiners appear quite indifferent.
and do nothing to check any easier feeling
that may be shown
Our latest telegraphjc advices from New
York, of the 3oth instant, quote value of
Cuba centrifugals, 90 degrees test, at SIC.
Market dull. Granulated, TIC. London.
same date. Deets, SO degrees test. 14s 1Od:
European and foreign markets steady:
estimates OF beet crop unchanged Other
J crops promise well but are backward.