The Hawaiian gazette., 1890-11-25

fugal, 90 degrees, 5 52-1OO; granulated
else.
The local market is steady, with rates
based on Csc for granulated. The East
ern market is very quiet. The supply at
San Francisco win probably be dimin-
ished by the failure of the Strathearn
to arrive from Java. She is given up as
lost.
Judge Pratt OF New York has appoint
ed H. Q. Havemeyer, General H. W.
Slocum and s. W. White as receivers of
the Sugar Trust. The trust will very soon
issue 4 new plan OF reorganization, and
its affairs viii be conducted so as to con-
form 10 the laws as recently laid down
by the courts.
The Secretary OF Agriculture in his
recently published annual report makes
a very tiattering reference to the beet
and cane sugarprospects, and particular
" TO the former. The excellent condition
of both crops is attended to. The outlook
for the home sugar industry is consid-
cred favorable. An analysis by the de-
partment chemist of beets grown in
various states from seed distributed last
spring indicate high per cent OF sugar,
and afford what is regarded as conclusive
proof that large sections of the country
are adapted to the successful culture of
fthe sugar beet. The practical results OBJ
tanned in Nebraska, California and
Kansas demonstrate the feasibility of
homegrown sugar manufacture. Con-
sidering that Europe produced last year
S,625, 900 tons OF beet sugar, and that a
very material part OF it was grown in soil
and climate similar to that of the central
United States, there seems to be no valid
reason why this country should not in
few years be practically independent of
| foreign sources for its sugar supply.
4 dispatch from Farnham, Con-, says
that the French company which is oper-
atlng beet sugarie there has proved
success, the beets running from six to
eleven per cent OF saccharine.
Beet sugar production is receiving re-
newed attention throughout the United
States.
\ dispatch from Berlin dated the 18TH,
says: The National Zeitung saws: The
bill before the Federal Council provides
for gradual reduction in tile tax on beet
sugar. The payment OF the bounty on
beet sugar exported IRON the country
begins in August, 1888.
The value of merchandise imports at
san Francisco during October was as
follows: Hawaii, S4S9.S7S; Philippine
Islands, SS5S,0l9; Dutch Fast Indies,
1868 ,629; Australia, sos, 222 and Tahiti
So, Jos.
The past week has been marked by
tremendous excitement on the New
York money market brought about by a
general bear raid all along the line on
the Northern Pacific and North Amer
lean bank, both controlled by Willard.
In the hurry and rush of the attack four
OF Wizards broking firms went under,
notably Decker Howell & Co. The
North River Bank also had to. close its
doors. The elimination was on the
18th and 18th when ell stocks and parti-
cularly the Wizards were mercilessly
attacked. Willard weathered the storm
though rumors of his failure were rife
at all times. In the movement the pam
ickv feeling extended to every stock.
Sugar Trust dropped to 81, and all other
stocks fell from 3 TO % per cent. The
market quieted down on the 18th and
was in its normal condition. Money
went as high as 1SS but this stress was
relieved by the New York clearing
house. Among the houses. which went
under were Chas. ". Whitney & Co.,
brokers, for 500, 100; John T. Walker,
Son d Co. for $500, 900, and Decker How
ell d Co. for over 81 100000.
Trade with New Zealand.
Consul Connolly at Auckland, NJ,
has made report to the State Depart
ment in which it is stated that the value
of imports from the United States in
1889 amounted to S1,712, $50 an increase
of S96, S35 over 1855. The value Of ex-
ports to the United States was 81, 706.-
$50 leaving balance OF s., 800 in favor
OF the United States. The total value OF
imports from the United States into all
the colonies during the past ten years is
stated to be SIS, $50, 255 and the exports |
TO the United States were sic, 339, 900 |
leaving the United States trade bal |
anee OF 81, 81, l95 after ten years.
This is considered exceedingly favor |
able IN view OF the fact that no particular |
effort has been made on the part OF the |
United States TO cultivate trade relation. |
The only method OF building up trade is
TO foster the steam communication !
Consul Connolly refers 10 tie fact that |
for years the New Zealand Government |
has borne the most Of the expense Of |
the mail steamer service. In speaking |
of .he failure OF the government TO re-
new the service Consul Connolly saws:
''The withdrawal OF the Oceanic Com
pany's steamers would be deathblow
10 American progress in the South Pa
ci6c and would tend 70 ALLEVIATE the friend
IL desire 10 trade with the United States
that at present happily exists. 1t would
require years Of determined and unre-
hitting effort TO establish the friendship
and prestige that We ar present enjoy in
the seas | cannot too strongly urge the
OF al least giving pecuniary
assistance 10 old established lines
whenever the importance OF such lines
demands IT," Continuing the Consul
states that the condition Of the colony is
as prosperous as could be expected CON
sideEng that the total Indebtedness is
about 1852 So, 80 Of which 50, S.6 $40 |
IS held abroad