The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-04-23
COMMERCIAL.
Interesting Statements Regarding the
sugar Market by willett s HAmlen
The Results OF the Trust

Interesting Statements Regarding tn
sugar Market by wmett s HAmler
The Results OF the Trust
Willett & Hamlen's weekly circular o
March 2Sth, besides the usual complete
statistics, contained the following obser.
vations on the sugar market:
Prices-The developments of the
week all over the sugar world have
brought TO more conspicuous view the
strength OF the sugar position and the
poorly prepared state OF the United
States markets to meet such an issue as
now stares Us in the face. Refiners have
secured all the spot centrifugals and all
the aaoats, but the quantity is insignifi-
cant when compared with the require
ments of the approaching large season OF
consumption, and it remains to be seen
at what prices producing countries will
part with their moderate supplies, q
considerable portion of which are al
ready in the hands OF local spectators.
The beet countries are advancing prices
rapidly, thus putting out of reach the
only competition which cane producer
fear. =
under these circumstances, we hav.
to record for the week the remarkable
advance OF &c. per pound on raw sugar,
leading also 10 an equal rise in refined,
with such an increased demand for the
latter that on some days refiners refused
to meet it, or were unable to do so.
With stocks in United States decreased
7,744 tons for the week, and now re-
duced TO AZ ,35S tons total, or, say, Il 1876
tons less than at the same time last year,
we have to note on the other hand an in
III nf /
thus far this year, over the same time
last year Raw and refined are now 1c.
per pound higher than at this time last
year, and the conditions are certainly
indicative of a much more considerable
advance before new crops, not yet soWn,
can come to the relief OF the market.
The present condition is more or less
due to, or is the material result of, the
depressing policy pursued by refiners
since the formation of the Trust" This
great power ignored the existence of
well-organiZed sugar business which
heretofore included consignees, con-
signors, merchants, importers, bankers,
brokers and agents, who, In their COM
bined capacities, helped the producer to
carry his sugar and dispose of it, and |
naturally created a surplus of available
stock always existing In the consuming
markets. But now, without this assis- |
lance, the producer is forced to curtail |
production, as has been VIGOROUSLY !
shown in Brazil, for example, this sea-
son. But for this policy, as shown in |
the Brazil crop, the increased amount of
sugar from that country alone would |
have gone far to prevent the present |
dearth in the United States.
planters have learned lesson this
wear and ff1aem being forced to curtail |
nrodnction becarisS.,o f the absence of the |
former mercantile mach7ngFsyto help |
them to carry and market it, they pay, |
hereafter voluntarily curtail production
and find their profit in the enhanced
prices obtained for their smaller crops.
Total stocks in all the principal coun-
tries are ,062 ,234 tons, against ia, 12O
tons at same time last year"