The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1890-03-13

lNO CchbS psi pOuiiV.
The California refinery has raised
the price OF white sugar / cent per
pound, in two advances of 9TH each.
1t had been unreasonably low. The
Chronicle, which acts as the Trust
organ, makes point Of this, al
though sugar is no higher here than
in the East, and keeps up the old
fight against Sprcckcls. But the
trade takes no stock in that argu-
mont, Us there is an ample supply
for consumption and no chance Of
any scarcity. The receiver has given
permission to the Trust t. dispose
of 100000 worth of sugar il has in
stock, but it refuses to do so in the
hope.of creating scarcity and SO
exciting popular agitation to in
fuence the decision Of the Supreme
Court on appeal.
At the outset the newspapers of
this city were rather taken with the
agitation in favor of the Trust on
the labor question, but rs the sub.
ject began to he ventilated little
they soon dropped on the Chroni-
cle's cunning game to get up
popular demonstration in favor of
the sugar monopoly and opinion is
hardening against it. The 'poor
working man. plea comes with bad
grace from those enemies of labor,
lIavemeyer, Searlc, Elder 4 Co.,
and the Chronicle itself. And now,
in desperation at being hoist with
their own petard, to wit, the writ of
prohibition, they have cited Judge
Wallace and Receiver Reddy to APP
pear and answer charge of con
tempt for disobcyng an order of the
Supreme Court on March 3d, which
order is the writ in question. SO
the legal proceedings are getting II
little mixed, but no one has an idea
even that the Supreme Court will
disturb Judge Wallacc's ruling. The
law is so clear that no other course
than confirming it is open to the
Court of Appeal. The Sugar Trust
must go and the American Sugar
Refinery be closed up.
Meanwhile the California Refinery
holds the fort and will continue to
hold it after the Sugar Trust has
become a thing of the past. But
what are the Islands clients of the
American Refinery to do with their
sugar! Their contract with the
American Refinery was transferred
to Havemeyer & Elder, and so far
two cargOes of sugar from the Isl
ands have been landed and stored in
outside warehouses by that firm.
Other cargoes will probably be SINH
larly disposed Of, because if the
sugar is stored in the refinery ware
house it would go into the possession
of the receiver and out of their
control. How long will Havemeyer
& Elder keep up this losing game?
How long should the Islands planters
risk it? There are thus two sides
to the question, and as the contracts
have never been recorded either
party may determine to put an end
to existing arrangements. Have
meyer could stand considerable loss,
as he is reported TO have made six
million dollars in Wall street by
manipulating trust certificates. but
he is not man to squander money
no matter how loosely made, and he
will probably avail himself of the
chance of dropping out of a bad
bargain as it has turned out.
OF course the sugar could be ship
ped round the Horn to New York
but it would deteriorate on the voy-
age and the planters would be kept
long time out of their money. II
is for the producers to look this
question square in the face. They
should act deliberately and not
make third mistake, which nigh,
be worse than those preceding.
Their first mistake was in becoming
sugar makers and entering the
American market as competitive
manufacturers. Their second mis-.
take was in endeavoring to protect
themselves against the risks of bust
ness competition by joining an I'M
lawful and criminal combination t.
stop production and raise prices. A
third false step is to be avoided il
possible, and return to first princi
pies would not be bad idea. Those
who hold Trust certificates are no
on secure ground by any means, he
cause by their own act they have
lost their direct interest in tn,
American Refinery property, ant
are liable for the obligations of tn,
Trust whatever these may chance tc
be.
The situation in the East is un.
changed. The Trust, having Offered
such tempting terms to Clau
Sprcckels to either join the combina
ton or sell out, and having failed a
all points is forced to face the situa
ton. There will be no compromis
with the Trust. Mr.. Spreckcls say
he has made this his life work ant
he will go through with it. WorI
has been begun on the second re
finery on the Delaware, ten acre
having been acquired for that pur
pose, and the boilerhouse is alread,
built. 1t will supply power to bot
| ra(inaries Whom this now rofinar