The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1890-03-17
OUR SAN FRANCISCO LETTER.
san Francisco, March 8, 1890. Per K.
NJ. ). Zealandia
Sugar Trade.

Sugar Trade.
New York March Sth-Cuban cen |
trIfugals, So degrees, S5.62aa.
The local market is without espec-
ial feature, but the tone is stronger
than it was a week ago. The tenn
porary excitement caused by the clos
ing of the American Refinery has
subsidized, and the California is filling
all orders Oh the basis of 6g cents
for granulated Otherwise the mar
ket is the same as it was.
The latest New York Shipping
List reports the condition Of the
Eastern market az follows: A strong
undertone has prevailed, a. indicated
by the higher views of sellers, and
the available offers on the spot as
well as afoat have been held at an
advance upon our last quotations,
but buyers have shown scarcely any
disposition to replenish their stocks,
making low bids and displaying the
usual Indifference when they are out
of the market and are endeavoring
to neutralize the effect OF buoyant
feeling. The strength Of the posi-
ton is due to the small offerings that
are available both here and IN pro
ducing markets, together with the
general backwardness of the cane
crops. and holders have been trying
hard to establish an advance, but SO
far have been prevented by unwil-
lingness of refiners to enter the mar
ket. So far as made public, no sales
have transpired, and previous quota
tions must therefore be repeated, but
they are entirely nominal, and for the
present represent buyers rather than
sellers views, So cents for Sc test CEN
trifugals, and 1-16c. for 80 test Mus
covado. On cost and freight terms
there has been nothing offering under
3 5-16 cents for Sc test centrifugal
and 3 cents for 80 test Muscovado,
with only light offerings at these
prices, while in some instances sci
lers name 81 and 3 1-16 cents respec-
lively Beet has ruled firm, bnt no
important sales have transpired, the
offerings being held at lbs Cd cost
and freight, which is much above
buyers views. Refiners have been
in the receipt of liberal supplies by
direct importation, but the improved
demand for refined is likely to in
crease their MEETINGS. The market
left off firm but quiet, with buyers
and sellers in waiting attitude.
A dispatch from Washington, dat
ed the 4th instant, says: The Re-
publican members of the House
Committee on Ways and Means have
determined to admit raw sugar free
and give a bounty of two cents a
pound for domestic sugar. The tar
if bill is about completed but it is
not believed that it will pass, as pre-
sented.
During the month of February
the exports from San Francisco were
valued as follows: Hawaii, 1902, 100;
Australia, 500. 800; New Zealand, ST.
900; Samoa, $1,000; Marqueses, 81,
AOOs COClcCy 1SldluSs SpOt,OOO.
A new sugar combine has been
! effected in the East, more extensive
than the sugar trust. The wholesale
grocers and jobbers have organized,
and will hereafter ask legitimate
profit on their business. The aver
age wholesaler claims to have lost
money every day on every barrel
sold. This will be remedied. Every
day minimum price at which sugar
can be sold to retailers will be tele-
graphed to all the members of the
association, and all have pledged
themselves not to cut prices The
wholesalers who carry out what they
stipulate will at the end Of each
month get rebate OF / of
cent pound from the refners. The
plan has worked we'll in New Eng
land for two years, and now it will
{ extend all over America. The leader
of the scheme is F. 3. Thurber of
New York. By the terms of this
combination the price of sugar to
the retailers of the country is to be
raised IS cents per barrel, and there
is no doubt this Is cents, or one
quarter of cent per pound, will
come from the pockets of the con-
sumers. This means, at the present
rate of consumption, that the people
Of the United States must pay just
S7OOO,OOO more per year than the
sugar consumed than it costs them
Sugar Refinery Case.
The sugar refinery case remains in
practically the same situation as last
week The refinery of Havemeyers
Il Elder is still closed, and the firm
has promised its men that any one
of them who needs financial assist
ance during the shut down shall
have it.
The Supreme Court is struggling
with the question, and is apparently
far from solution. It is consider
ing the writ of prohibition issued to
Receiver Reddy and Judge Wallace,
and also has those gentlemen up for
contempt for refusing to obey the
writ. The case goes on next Mon
day.
The advance in the price of gran
ulated and other grades of refined
sugar has not been anything like the
average consumer expected. Spree
kels has put up granulated one
| quarter of cent pound, and is
| apparently satisfied with that, though
the market is not yet on a parity
with the Eastern marked plus the
transcontinental freight.