The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-08-08
FOREIGN SUGAR MARKETS.

From Willett & Hamlin's circular OF
July 18th, the latest at hand, we quote
the following regarding sugar:
Refined is unchanged. Raws nomin-
ally &c. lower, but really &c. lower TO
effect sales. A cargo Centrifugals SOLD
at &c. decline cost and freight, put
the next sale will probably recover the |
loss as the market now looks. The re-
action in beet sugar noted last week
was allowed to run into a panic, and
quotations receded to 19s. 3d., but, on
the German Syndicate being given by
| the banks an extention of time Tor set
| Element until September 18th, the mar
ket Immediately recovered to 24s. ana Is
now 22s. The entire drop IN beet
sugar was from 2Ss. 11ad. to 19s.
| 3D., or say equivalent to 1-1oc:
per h., which was just ABOUT
the preceding rise, as noted last week,
say from 20s. cd. to 28s. ~, and the
present recovery to 22s. brings beet
sugar about to the parity OF cane sugar.
which during the violent up and down
of speculative beet, has steadily pursued
it's upward course conservatlvely ana
been comparatively unaffected by Deets
This is a most notable feature, and SHOWS
that the strength of the statistical posi-
ton is in no-Wise weakened, and that
there are no hidden stocks or unexpected
events to happen which can interfere
with this strength, or stop the progress
of sugar to higher prices than any yet
paid for both raw and refined. The lntu-
ence in America of the panic was merely
: sentimental, and stopped the retners'
sales of their product for while, the
l grocers throughout the country relieving
l.. each other of surplus stocks at a cut
= under refiners' prices, which We're hrmly
, maintained. AS result, new demand
: already appears, and retiners will soon
= be relieved OF their accumulations, with
L out reducing prices. 1t is the season o.
q the year when large consumption O
q sugar must go on daily. We think the
Il re6ners have gained point IN the favo
i of refined dealers by their course
Y action during this past week. A tempo
= rary decentralization has been avoided
\ and now the trade can resume Its course
: with entire confidence against surprises
= Reiners who attempted to gain advan
Il tage by buying raws abroad during tn
( panic met with no success, as the dem
is oralization did not extend to actua
Q, sugar, and the whole position, so far a
r the United States is concerned, IS tn
Is same as if nothing at all had occurre
out of the ordinary course OF the ad
q vance, which is now seen, more promln
Is emily than ever, to depend upon tn
70 available supplies. These available SUI
a. plies were reduced $500 tons in tn
If United Kingdom for the week, an
j. 40, 4O1 tons for all the principal cour
II tries. Receipts in the United State
a were very large, and so were the mel
- ings, both of which will show consi(
~ cradle falling-of for rest of the month
~ Total stock in all the principal countries
" by cable advice, is 623, 643 tons, again'
TO 925, 521 tons at same time last year.
le The Sugar Trust.-Certifcates f1uctl
a ated eight per cent. this week for e.
n. tremes, against five per cent. last weel
ii going from SIG to $1071a, and closing {
10 $1O8. 1t is not at all probable that il
~ vestment holders at lower prices, WI
~ we'll know the dividend-paying value
Ill their investment, are selling SO near
re par value. It is much more likely TIL
lie the (about) $4,000 floating certificate
II are doing all the business, and that tn
quantity is undergoing some reduction
There is no mystery in the sugar trat
about the earnings of the Trust, and I
future mystery possible about its GER
On fcates. There remains but five prom
tn nent refneries in the country for Il
"Trust" to buy, and neither of these
10 in the market, nor likely to be. Thu
pc are doing we'll enough under the III
n brella of the Trust" but should M
" Claus spreckels finally come into Il
he Trust entirely, or by barter give b
ot new Philadelphia refinery to the ''Trus
- for monopoly of the Pacific Coast, as
70 sometimes suggested, the ''Trust" ha
lie ready money enough from earnings
ma pay the bill without issuing certificate
or reducing dividends from 10 per cer
le- per annua. Mr.. Claus Spreckels h
lat thus far declined the invitations of t
10 Trust" and we know no reason why
'o' will not continue to do so, and becor
asst somewhat of a check to the '"Trust
las and possible benefactor to the peop
-, at the dull seasons of the year for refine