The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1891-01-27
Sugar Notes.


slowly and there have been no re-
cent arrivals of Java.
The Mariposa takes $500 barrels
of sugar to Australia on this trip.
Immediately upon the dissolution
of the receivership of the Central
Sugar Trust Company in Brooklyn
to-day by Judge Pratt, the property,
which consisted of stocks of various
sugar refineries, was placed IN q
coach and rapidly driven over the
bridge to New York and thence to
Jersey City. There the successor
company, under the name of the
American Sugar Refining Company,
was formed and the certificate of
incorporation filed.
The new corporation at once
issued S25,OOO,OOO of preferred stock,
S25,000,000 of common stock and
S1O,0OO,0O0 in bonds.
The preferred stock is entitled to
cumulative dividends of per cent
per annum. John E. Searles is
Secretary and Treasurer, and on
Monday the new company will begin
business.
The holders of the Central Trust
Company's receipts will receive
share for share, one-half preferred
stock and one-half common, and a
bonus of per cent cash. Bonds
will be retained in the treasury of
the company for future action. TIE
Central Trust Company now has
cash in its possession to pay the b
per cent bonus.
The din ectors of the new company
are II. 0 Havemeyer, I. A. Have
meyer, T. A. Matthiesson, j. E.
Searle Jr., William Dick, j. B.
Thomas and George G. Megown.
The Attorr ey-Genera's representa-
tive stated that he not been con
suited in regard to developments.
Judge Wallace has appointed nj.
G. Blake as referee in the case of
the People VS.. the American Sugar
Refinery in order to determine the
compensation which is due Patrick
Reddy, the receiver of the refinery,
and also Sullivan & Sullivan, the
attorneys in the case.
H. T. Merritt, United States Con
sui at Chemnitz, in his report to the
State Department, says that S16,-
100000 were paid by the people of
the United States to the beet-sugar
makers of Germany within one year.
This sum, Mr.. Merritt says, is near
ly three times as much money as
our people pay for any other given
article imported from Germany.
General Grubb, the new United
States Minister at Madrid, has indi-
Gated the desire of his Government
to negotiate a reciprocity treaty
with Spain on the understanding
that the treatment granted Amer
lean imports in the Spanish West
Indies should not be extended to i'm
ports from other countries, and that
the United States in exchange
would partly exempt Cuban sugars
and tobacco from the import duties
of the Mckinley tariff. The Span
ish Government, it is understood,
would like to welcome this overture,
but until all her European treaties
expire, in 1892, Spain cannot grant
the United States any reciprocity
that European powers cannot also
claim under the favored nation
clause.
The News Ottawa special says:
Minister of Finance Foster is ex
pected back from the West Indies
soon. The Government has been
constantly advised by him of the
progress he has made in his nego-
tiations for reciprocal trade, but it
cannot be said that he brings back
any definite promises. The proposal
he made to the different West India
Government was: Canada will
give you a differential duty on
sugars and fruits that will secure
your fruits and sugars monopoly
in the Canadian markets. In return
you must give to Canada differen-
tial duty upon the staple products
of the Dominion that will give US an
advantage in your market" The
Canadian part of the bargain will
take the form of rebate of $3.50 a
ton on West India-grown sugar.
Reciprocal action on the part of the
West Indies will be required to be of
such a nature as to put aside United
States fish and -four, giving the
Canadian product preference.
The Shipping Bill.
During the past week the House
went into committee of the whole
on the shipping bill. The measure
met at once with strong opposition
from Southern members on the
ground that it was a scheme to in
discriminatory subsidize vessels of
every character in the foreign trade.
Dingley Of Maine made forcible
speech in favor of the bill, in which
he stated that our country had but
I21 per cent. of the carrying trade,
and could reap benefit from subsi-
dies far greater than any other ma
ton. The maximum expense of the
bill for the first year, he stated, would
10 60 nOO O00 Of which from S300