The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1891-01-21
Our san FRANCISCO LETTER.
Per X. VI. :. Mariposa, san Francisco,
January IL, 1891.

fer * VI. =" Marfposa, ; an Francisco,
January IL, 1891.
(From our special eorrespondent)
(Conciudedl
Sugar Notes.
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 reineries, 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. 100000 of common stock and
100000 in bonds.
The preferred stock is entitled to
cumulative dividends of Z 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
Compeny's receipts will receive
share for share, one-half preferred
stock and one-half common, and
bonus of 5 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 5
per cent bonus.
The directors of the new company
are II. y. Havemeyer, L. A. Have
meyer, F. A. Matthiesson, j. E..
Searle Jr., William Dick, ]. b.
Thomas and George G. Megown.
The AttorneyGeneral's representa-
tive stated that he not been con-
suited in regard to developments.
III. 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 Grub, 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 g 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 il
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 a monopoly
in the Canadian markets. In return
you must give to Canada a differen
tial duty upon the staple products
of the Dominion that will give us ar
advantage in your market" The
: Canadian part of the bargain viii
, take the form of a rebate of 50 so a
} ton on West India-grown sugar
Reciprocal action ON the part of the
West Indies will be required to be o.
such nature as to put aside United
i States fish and flour, giving the
l Canadian product preference.
Steamer Changes.
Commencing with February, /;
new timetable for the Oceanic Steam
ship Company between here anc
the Colonies goes into effect
The Mariposa, to sail on arrival Of
the English mails, presumably mex
Monday, will date the new schedule
from the other end, and the Zeal
andia (due here on the 17th) will
inaugurate it on this side By the
change through steamers, Alameda
Mariposa and Zealandia, will leave
here on Thursdays instead of Satur-
days, as at present, and the local to
Honolulu, the Australia, will sail
every fourth Tuesday instead of Fri.
days. The hours of sailing are
changed to 3 P. NJ for the through
boats and to P NJ for the Australia,
and the schedule changes give the
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