The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1891-04-28


New YORK, April 14th.-Cuban centri-
fugal, 90 degrees, 5000; graduated,
Aye.
The agreement between the California
Refinery and the frm of Havemeyers &
Elder relative to the Pacific Coast mar
kets remains the seven-days' commercial
sensation. The basis upon which the
combination was made is a sealed book
to the outside. Some assert that the
Havemeyer and Spreckels' refineries will
be run in alternate months others, who
claim to know, say that the agreement
will last only so long as it is necessary
to keep prices up in order TO avert losses
on the sugar bought in Hawaii and de-
livered In San Francisco prior to April
LIST Locally, granulated is quoted at 6
cents, and railroad rates have been so
adjusted in Difference to the wishes OF
the re6neries that it is impossible to inn
port sugar from the East. Westbound
rates at 81 per hundred; eastbouud 50
cents per hundred, precluding any
chance OF competition.
Spreckels denies that any arrange
ment has been made by which the out
L
curtailed in return for concessions on
this Coast. c. August SpreckeIs, who is
in Philadelphia, saws that the output
there is not to be reduced to 1000 bar
fels daily in return for the absolute con-
troll of the business west of the Missouri
River. a.
Ell. G. Steele is in New York, and
rumor has it that he is seeking for CAPT
L oh ht,rl
here. The dispatches say that he is
actuated by several Hawaiian planters.
A dispatch from New York, dated the
18th inst, saws: Reports have been cur
rent for some days on the sugar market
that combination had been formed be-
twee the whisky trust, the sugar trust,
the Eastern rehners and the wholesale
Grocers' Association to acquire COM
plete control of the sugar trade. 1t is
known that negotiations have been
pending between the independent re-
finers, sugar trust and wholesale dealers
TO handle all the sugar refined in this
country and boycott the refined sugars Of
foreign countries. So far the deal has
resulted only in an association OF re-
finers 1t is stated to-day that Claus
Spreckels, Z. c. Knight, Harrison and
Frazer, and all independent sugar re-
fners have entered INTO an agreement
with the trust to work in harmony with
its managers and produce only their pro
rata share of the entire production. which
is to be limited to sales made in advance
by wholesale grocers.
One of the largest sugar dealers in the
city said in reference to the agreement:
{" The refners are now making pro-
fit of only Ills of cent per pound on
the sugar handled by them. They are
restricted 20 this profit because at g of
cent per pound between cost refined and
selling price foreign beet sugar would
come into the market in such quantities
as to prevent the placing of the product
of American refners. To-day kilograms
were received asking for quotations in
German beet sugar, and that article, fav
ored as it is by high bounty to the pro-
Queer by the German Government, is
looming up promptly as menace to the
refining businss.
Here there seems to be no attempt
to boycott it, however, but individual re
finers and the trust, acting together, will
take whatever steps they deem necessary
to prevent it or any other foreign refined
sugar from finding a market here"
The Senate Investigating Committee
of New York is still industriously delv
ing into the affairs of the Sugar Trust,
though with very little result. On the
Sth, Henry Gray, the receiver of the
North River Refining Co., stated that he
had been threatened by the trusts
officers.