The Hawaiian gazette., 1891-05-19
LATEST FOREIGN NEWS.
From Our Exchanges - Up TO
Date of 9Th Inst.

Regarding raw sugar the New York
Shipping List Of April 18th says the
market is iavoring buyers TO slight
extent, but most holders consider the
situation firm and they decline to release
stocks at same figures that competitors
are disposed to accept. The total stock
in importers hands in the United States
is S,0i9 tons in comparison with 1885
tons this time last year, and il there is
any cause for strong feeling it does not
come from the statistical position of the
article. Since last writing the business
has been light, and includes only 900
hhds. and $500 bags OF Muscovada 50
test at 5 S-16 cents net cash, and 5000
bags centrifugal 90 test at Sis net cash,
prompt delivery. These prices would
still buy, although 1t is claimed that the
latter figure has been bid and refused by
some holders. The option market has
ruled dull and lower, with sales of twen-
ty-five tons June at SIS cents and %
tons July at S.64.
The following circular has been issued
by the Treasury Department:
To Collectors and other Officers of the
Customs:
The following Act OF Congress APP
proved March 3, 1891, entitled Gan Act
relating to the treaty of reciprocity with
the Hawaiian Islands," is published for
the information of officers OF the customs
and others concerned
o. L. SPAULDING,
Assistant Secretary.
An Act relating to the treaty OF reci-
procity with the Hawaiian Islands.
Be it enacted by the Senate and House
OF Representatives OF the United States
Of America in Congress assembled, That
nothing in the Act approved October
first, eighteen hundred and ninety, enti-
tied san Act to reduce the revenue and
equalize duties on imports, and for other
purposes, shall be held TO repeal or i'm
pair the provisions OF the convention re-
specting commercial reciprocity con-
Guided January thirtieth, eighteen hun
dred and seventy-five, with the King OF
the Hawaiian Islands, and extended by
the convention proclaimed November
ninth, eighteen hundred and eighty
seven; and the provisions of said con-
vention shall be in full force and effect
as ii said Act had not passed.
Approved, March 5, 1891.
i dispatch from Albany, n y, dated
April S0th SAYS: THE Senate Commit
tee this morning submitted a volumi-
nous report on the sugar trust investiga-
ton. 1t speaks about 10 per cent divi
1api ari nj the fahulOOS valuation
placed upon the stock OF constituent cor
porations. The report says it was plainly
one OF the chief purposes OF the trust TO
provide for the issue OF certificates afford
ing an opportunity Tor great speculation,
obviously TO the advantage of the per-
sons managing the trust, and to the dis
advantage OF the general public, who
were ignorant OF the secrets OF the trust.
Referring to the refusal OF the trust otfi-
Gals to show books, the report says it is
for the people to determine whether the
refusal was because these books would
show that the trust was using a COM
bination for illegal purposes. The re-
port questions whether the enormous
dividends have been earned in the legi-
innate refining OF sugar, and calls atten-
ton TO widespread speculation in securi-
ties. 1t is recommended thar legisla-
ZION be had restraining the formation OF
trusts, as hostile 10 the interests OF the
people, or providing for their formation
under the supervision OF the State, and
that they be compelled 10 keep books OF
account, or true copies Tor the State, to
be subject TO examination by duly ap-
pointed accountants.