The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1894-09-11
THE SUGAR MARKET.
Extracts from Williams, Dinond &
Co.'s Circular.

SAN FRANCISCO, Aug. 3l.-There
ms been a good demand in our local
sugar market during the month, and
iobbers have purchased freely of late
in anticipation of an advance on ac-
count of tariff legislation. There have
also been some speculative purchases
outside of the usual trade.
The Western Sugar Refining Com
panv advanced all grades of refined on
August oath &c per pound, and have
made no change since. Quotations
TODAY are as follows: Cube, Crushed
and Powdered, SIC; Dry Granulated,
sc; Extra c, 5sc.; Golden c, 55c.;
d Sugar, 45c.
Half-barrels are now &c. more, in
stead OF gc. as formerly. Boxes &c.
more.
Prices for export to Honolulu are &c.
less, or on the basis of sc. for granu-
lated.
Basis: We quote the following
changes since our last circular:-Aug.
10th, 3.16 (sales, 5000 bags at this fig
ure, and 300 bags at 3Ic.)- 18TH, Sc.
sales, $500 bags. 18th, 3.2S (sales
$500 bags. 18th, II (sales, $500 bags
at this figure, 270O bags at 7, and $500
bags at 3 s.. Goth, 81 (saIes, 1000
bags. 9th, SIC. sales, $4,000 tons
at this figure, 1900 bags at 3sc.,
and 1900 bags, 80 test, 35c.). Since
the oath there has been no change re
ported.
In addition to the sales noted above,
there have been others between the
dates, but not affecting basis. The
above quotations are the basis of
the prices in New York, and up
10 the 18th inst. established the
basis for island sugars. Since
that date, however, the New York
market having ruled in some in
stances half a cent above the London
market, the deduction, according to
contract must be made in order to
establish the basis for island sugar
having arrived on these dates.
Tariff After a hard struggle the
bill, as passed by the Senate, became
a law on the 2Sth inst, and the sugar
schedule is as follows:
All sugars No. Is Dutch standard
in color or under to pay duty OF 10
per cent. ad valOrem, and all sugars
above No. Is Dutch standard in color
shall pay in addition one-eighth of
cent per pound. Also one-tenth of a
cent per pound additional on sugars
which are imported from or are the
product of any country which at the
the time the same are exported there
from, pays directly or indirectly a
bounty on the export thereof. 1t is
also further provided that nothing
contained in the schedule shall be so
construed as to abrogate, or in any
manner impair or affect the prOvi-
sions of the treaty of commercial reel
procity concluded between the United !
States and the King of the Hawaiian |
Islands, on the 30th day of January, |
1915, or the provisions of any Act of |
Congress heretofore passed for the !
execution of the same.
Eastern and Foreign Markets-The
New York market has ruled active
during the month with a gradual adj
tendency as the end OF the
tariff legislation drew near, and 1t
became more apparent that there
would be a duty levied on sugars.
The transactions have been very large
during the month, and especially
towards the end. The magnitude of
the dealings was a source of universal
comment, but probably less surprise
10 those Immediately interested than
TO the outsider.
Such, however, was the natural
sequence of existing conditions. There
was practically only one source OF de-
nand and il was ready and anxious
20 take every pound it could get pos
session OF under the existing free
schedule, and when offers finally
cached the level where many holders
could realize a good profit, they let
he goods go.
Transactions would even have been
till larger but for the fact that i'm
oOrters finally commenced to with
RAW, and look for higher rates.
Transactions in refined have also
,een large, but the liberal accumuIa-
ion of stock already in hand served
Is check upon a great many Oper-
Ltors in this article, who could have
aiken larger quantities, and are there
ore much disappointed.
Refined advanced in New York to
so for granulated on the 23d instant,
md / 81 on the 25th instant; but it is
lot expected, however, that there will
,e much more advance in this article
It present owing to competition in
Oreign refined on account Of the large
of the protection now afford
q TO refiners in this country.
It is quite possible that TawS viii
Tot advance at present much over
resent price of SEE, duty paid basis
or centrifugals, which is equal to &c.
ost and freight.
Stock OF sugars in the West India
Stands is now very small, the usual
balance at this season having been
transferred to the stock of this
Ountry.
The stock remaining in Cuba, ac-
ording to advices of August 23d, is
,nly 81 600 tons, and rain is reported
Is wanted for the growing canes.
There is also, practically, no sugar
eft in the Barbados, Martinique,
Antigua, st. Kits, st. Croix and
Porto Rico. Prospects for the coming
rops in these islands is reported favor
bile, although rain is needed.
The growing beet crops are also in
EXCELLENT condition
Our latest Geographic advices from