The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1889-12-12
SUGAR AND OTHER MATTERS,
Corresponding of the BULLETIN.
SAN FRANCISCO, Dec. 3, 1889.

was the only dangerous opponent |
Reed had, but he does not appear |
TO have worked hard to get the prize.
lie is, however, in the race for presi-
dency next election, and Reeds |
elevation to the chair clears the way
for him. The silver men are disap-
pointed at Reeds elevation, as the
National Silver Convention at st.
Louis called upon all Western re-
representatives. to support only such
candidate as would favor the policy of
free unrestricted silver coinage. The
truth is, the silver question did not
enter into the election of speaker at
all. Tom Reed is popular, and his
party was bound TO recognize and
reward his able leadership in the
House while it was controlled by
Democrats. Mckinley will have his
choice of committees, and can make
his influence felt in legislation as the
Republican leader. The silver ques-
ton, however, will became live
issue during the session, and in the
next presidential campaign. Sher-
man has tackled round to the silver
side, having lookout still for the
presidential nomination, which means
an election for the Republican cam
didate unless the political signs fail.
Reed is said to be owned by Wall
street. This would be more truth
fully said of Sherman, perhaps.
The Presidential message is to be
sent to Congress to-day at noon.
Its contents have been kept secret.
Type written copies will be distri.
butcd. 1t is said to be q very
voluminous document.
The machinery at Spreclels' Phil
adelphia refinery has been tested.
The delay in starting was occasioned
through the default of several sub.
contractors to come to time. Still
it will be great triumph to have
this immense refinery working with
in a year from laying the foundation
stone. The Sugar Trust people adj
nit now that it is very perfect and
complete establishment. They can
no longer bull their certificates by
discreditng the new refinery Of
Claus Spreckels, which the Philadel-
phia press thinks will ultimately
make Philadelphia the sugar centre
of the United States. The Boston
News Bureau, which is run in the
interest of the Sugar Trust, pub
| fishes the following:
GA gentleman familiar with the
sugar refinery business has just re-
turned from visit to Philadelphia.
He says that the Spreckels refinery
is we'll built and equipped, and that
most modern methods have been
employed throughout. The wharf
property which Mr.. Spreckels owns
would cost millions in any other
city. 1t is admitted by Sugar Trust
| people that the refinery is one of the
best in the country. The refinery
has been tested with a cargo of
cheap sugar, but Mr.. Spreckels as
vet refuses to make any contracts
for specified future delivery. The
recent orders to buy Sugar certifi-
Gates supposed to come from the
Havemeyers are~said to have been
in the handwriting of James r.
Keene. Some of the best commits
sion houses declare that the move
ment is a selling rather than buy
ing one"
The truth is, that the recent hard
ening in prices was caused by large
dealers, who lad held off TO buy
from the Spreckels refinery, filling
some of their more pressing orders.
Yesterdays telegraph quotations
from New York are as follow:
Raw sugar is strong and active
fair Refining, 81 at 5sc; Centrifu-
gals, So test, GB at Gle. Sales OF
1000 bags China, 54c; some lots OF
English Islands, 81 test, at at SIC.
Refined is firm and quiet.
There are important changes ir
contemplation in the Philadelphia
sugar world. The Telegraph of Tho
2Gth ult. had the following item:
The Franklin Square Refinery
will soon be operated by corpora
ton succeeding Harrison, Frazier
& Co., the present owners. 1t has
been reported that the change is
only the iniliatory step in the turn
ing over of the big refinery to thu
Sugar Trust, a member of thu
firm said to-day that there was nj
foundation for this report, Thu
change will he made for private rea
sons. No offer has been received
from the Trust, and none is expect
ed. The Franklin Refinery is nov
owned and operated by Harrison
Frazier & Co., and is one of tn
largest in the country. Like tn
refinery owned by E. c. Knight
Co. it is independent of the Suga
Trust. The only other refnerie
outside of the Trust are the Reyer'
Refinery in Boston and the Spreck
els Refinery in California. TIL
profits of the Frapklin Sugar Rein
cry have been very large since th
organization of the Sugar Trust
/ The change from private firm to
/ corporation will be made for reason
of a private nature"
Commenting upon this announce
ment, the Wall Street News make
the following suggestive comments