The Hawaiian gazette., 1889-09-24
SUGAR NEWS.
Doings Of the Trust-Claus Spreckels
and His Seheme-Other Items.

(From Our San Francisco Correspondent
Advices from the east report
that the trust is still struggling to
maintain prices as at present Bust
ness is about at a standstill as the
refneries are unwilling to pay prices
demanded either for spot sugar or
cargoes to arrive. Large stocks are
afioat both from Europe and the East
Indies.
The American refinery has cargo
of sugar on the way from the Philip
pines and Spreckels has five or six
more TO come.
Sugar trust stock remain about
stationery ranging about $40
Very few people comparatively, have
any clear idea of the amount of bust
ness that this trust is doing, and the
officials are perfectly satisfied to
have it underestimated. Here are a
few figures obtained from reliable
sources that, large as they may seem,
are vouched for as approximately
correct. The trust is selling at the
present time about 10000 barrels of
sugar per day. They get IS cents
for the grsnulated. The cost to
them of 10000 tons SO test recently
brought 63cents. 1t costs about 5
of q cent to manufacture, making
the actual cost IS for the fine granu-
lated, for which as noted they get IS
cents. This amounts to about g so
per barrel proft--really an average
of 50 for all grades-or on a conser-
vative basis, a profit of $4,000 for
every working day, or nearly $4,000,
600 per month. As matter of fact,
it runs a good deal more than this,
and in the month of July, il the five
figures were given, their enormity
would so surprise people generally
that they would hardly believe
them.
Plans are being evolved for new
antitrust sugar refinery in New
York with 100000 capital and a
capacity OF three to five thousand
barrels day.
Claus Spreckels will soon open his
big refinery in Philadelphia, and
then hot fight between him and the
Trust is predicted. Mr.. Spreckels
has Just returned from Germany
where he went in furthersnce of his
beet sugar scheme.
Claus Spreekels has another pro-
iect on foot. Recently he told two
of his intimate friends in the East
that while he was experimenting to
discover a process to harden and
compress beet sugar for export, he
hit upon a device which does the
work so thoroughly that the sugar
actually becomes insoluble in water
and can resist the action of the
weather. He recently offered to
build sugar addition to the White
House at Washington, claiming that
the material was winter and better
than marble, and the cost was only
half as much, and he extended his
offer by saying that if the building
was not satisfactory he would remove
it at his own expense. George o.
CLAWS, one of Spreckels' attorneys,
is getting up the Patent papers to |
protect the discovery.
The Louisiana product this year is
at between 10000 and |
2S5,OOO hogsheads. Last year it was
100000 hogsheads. The business
has been prosperous. all things con-
sidered-
The Treasury Department has Just |
issued an amended circular relative
to the re-sampling and testing of |
foreign dutiable sugars.
J. K. Keene, the famous stock
Spectator of New York, has been
operating largely on Sugar Trust |
lately, and is engineering a bull |
Runner has it that he is
operating for the Havemeyers. An
other rumor is that Robert Bonner,
the millionaire, publisher of the New
York Ledger, is soon to become the
head of the Trust, If he is not al
ready such. Before the Trust was
organized Bonner was head of the
Bonner & De Castro Refining Com
pany which had refinery near that
Of Hsvemeyer Il Elder. 1t was closed
upon joining the Trust
The Cuban crop this year is esti-
mated by the Havana Weekly Re
port at 1894 tons of sugar and
l09.023 tons Of mOlasses, making a
total of 595,OO7 tons. Up to Sept.
Ith, the prospects were that the IN
DaraIleied crop Of 1856 of 91S,7S7 |
ions, would be excelled, but on that
lay a terrible cyclone passed over
The island destroying about % per
cent Of the cane on most plantations
and over one hundred plantations
we're destroyed outright
The beet sugarie at WatsOnville Is
running full blast, and the raisers Of
leets are satisfied with the seasons
work The output viii be far larger
han last year. Experiments are be-
ng made with beets grown IN many
Of the State
!