The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1889-06-18
Tuesday
JUNE IS 1889.
The SUGAR MARKET.

The extraordinary activity noticed
recently IN the sugar market arises
from several obvious causes; but the
coincidence Is very largely in favor
Of permanency IN regard to frmness,
if not q still further advance in
price The demand for sugar in all
the markets Of the world has very
largely increased, while some Of the
most important sugar producing
countries report short crops. The
cane areas Of the Southern Asiatic
Islands and the West Indies have
not been materially increased. and
the shortage in some Of the islands
has decreased the supply very much
under an increasing demand. So
much IS this the case that it VIII be
& considerable period before the diff
ference between supply and demand
can be adjusted sufficiently to re-
duce the prices from the present
high figure The corners and IN
usual activity observable among re-
iners, also contribute to keep up or
increase the price; and other causes
Of minor nature are likewise at
work IN the same direction.
We quote the following from Vii
let and Hamlen's circular which is
considered the highest authority on
sugar matters:
under all the conditions now ruling,
stocks in the United States have little
chance OF increasing but slowly, instead
OF rapidly is at this season in former
years The increase OF stock for the
week Is {, 9z9 tons. against 1913 tons
increase for corresponding week. The
same conditions prevail regarding prices.
As formerly uoted-n0t enough Of q spot
market 10 make m1Ie than nominal
quotations and foreign markets making
the standard Of prices. In LoudOn. the
reaction vas checked last week. Refined
has been IN small demand for some
weeks. and retuers are getting aCcumu-
Laugus with which 70 meet the renewal
q demand, which has nov set in again.
There seems 70 be an impression in
Europe that the Sugar Trust has come
% an end, but this Is not 50, aIth0uEh
various legal movements are continued
against II, the latest being an apulica-
ton by the Receiver appointed BY the
Court 70 wind up the North River Sugar
Refining Company Tor a receiver Tor the
entire Trust 70 wind up the partnership
and give him his share OF the profits.
The Trust however, seems 10 have
no fear When Spreckels' refinery in
Philadelphia L completed and running.
g It may Be in August OF Sept, It will
scarcely do more-large as It is-than to
cover the requirements Of the constantly
increasing consumption Of the cJIn-
try. The cultivation Of beets
On the Pacific Coast VIII make some
what rapid progress this year, but 1t Is
not likely TO be commenced on this side
Of the Rocky Mountains. where It's sue
cess would be extremely doubtful. Cali
IJ-uIa can undoubtedly In the course Of
. lev years raise ueet enough to supply
the Pacific Coast COasEm ptiOn OF sugar,
say about - 900 tons, leaving the Sand
Tich Island crop to find its way east
ward but this Is stili some years away.
With the present rapid abs0rtioa OF the
iIuIlutIve supplies al sugar IL the world, .
The condition Of the young canes Tor tine
leLt season Is o. unusual interest, and
bus lar the indications from ali cane
rowing countries are b. no means fav-
5rable TO anything Ike a. adequate in +.
.rease II supplies for next season, and /