The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1891-05-12
OUR SAN FRANCISCO LETTER.
Per X. NJ. 8. s. Monowai, San Francisco,
May 1, 1891.
(From our special correspondent
(Concluded.)
Sn6or

tTIOu our Special correspondent
tConcluded.)
Sugar.
Regarding raw sugar the New York |
Shipping List OF April 18th says the
market is favoring buyers to a slight |
extent, but most holders consider the
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 3.049 tons in comparison with II ,S05
tons this time last year, and if there is
any cause for a 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 SO
test at 3-16 cents net cash, and 5000
bags centrifugal 96 test at 81 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
81 O.OO
tons July at 1854.
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 can Act
relating to the treaty of reciprocity with
the Hawaiian Islands," is published for
xha inf of Of of I0
and others concerned.
0. 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 Gan Act to reduce the revenue and
eoualiae duties on imports, and for other
purposes" shall be held to repeal or i'm
pair the provisions of the convention re-
speeding commercial reciprocity con-
Guided January thirtieth, eighteen hun
bred 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 if said Act had not passed.
Approved, March 8, 1891.
A dispatch from Albany, N. Y, dated
April 30th 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-
dend, and of the fabulous valuation
placed upon the stock of constituent cor.
porations. The report says it was plainly
one of the chief purposes of the trust tc
| provide for the issue of certificates afford.
ing an opportunity for 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 off
Gals to show books, the report says it il
for the people to determine whether the
refusal was because these books woulc
show that the trust was using com
bination for illegal purposes. The re
port questions whether the enormou
dividends have been earned in the legi
innate refining of sugar, and calls atten
ton to widespread speculation in securi
ties. 1t is recommended that legisla
ton be had restraining the formation Q
trusts, as hostile to the interests of tn,
people, or providing for their formation
under the supervision of the State, an,
that they be compelled to keep books Q
account, or true copies for the State, t
be subject to examination by duly ap
pointed accountants
Foreign News.
A dispatch from Mexico under dat
of April 9th, reports the death of Migue
Lopez, who enjoyed the despicable dis
. tinction of having betrayed the En-
peror Macmillan and caused the execu
ten of that misguided instrument c
European Imperialism.
Chilean advices of the 22d ult., stat
that the Government cruisers Lyme
and Cochrane attacked in the bay {
Caldera the ironclads Blanco Encald
and Huascar and destroyed them wit
whitehead torpedoes. The attackin
cruisers received no damage, and re
: turned to Valparaiso, where they ar
preparing to cruise after the remainin
!. vessels of the revolving squadron. Thi
is considered death blow to the rebe
lion.
The warshlp Balmaceda, which unit
recently has been loyal to the govern
ment, has deserted to the insurgents
In the battle the government forces los
one man and ten were wounded. Th
rebels lost $50 men.
The cruiser Ssn Francisco, bound fc
Chile, has been reported at Payta, PERI
5 She is making fast time and is expecte
to cover the $500 miles in twenty day.
. The trouble between the BIRTHS
s troops and the Manipuris still continues
Latest advices are to the effect that tn
capital of the rebels has been capture
: and destroyed. The mutilated heads
! Commissioner Quinton and party Wei
found in the city. In the last engage
t ment 20O out OF 1,600 of the Manipuri
were killed.
1t is announced that the Argentin
g Republic will attempt to get away frol
= the present gold standards by issuir
notes against reserve silver, to be legs
tendar at par value for all obligations
II the future. A law will be passed
force the acceptance of this hnanci
change.
Ii Don Antonio Ratres Jaureqni, Mi
- lister from Guatemala to the Unite
II States, is in San Francisco en- rou
IS to his post at Washington
Or The Portuguese Government has r
. coded from its bold position in referen,
o to the rights of British subject on tt
Pungue river in Africa Under pressu
of Salisbury's ultimatum the Portugue:
l. Cabinet has given consent to the fir,
Ia passage of that waterway and the row
at an end.
l. Michael Davitt, the famous Irish a.
II tor, has decided to come to California
take a rest from work and worry.
- The French Congress is in a gre