The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1894-09-11
THE SUGAR MARKET.
Extracts from Williams, Dimond L
Co.'S Circular.

sugar market during the month, anc
jobbsrs have purchased freely OF late
in anticipation Of an advance on &C
count oftsriff legislation. There have
also been some speculative purchase;
outside Of the usual trade.
The Western Sugar Refining Com
pany advanced all grades of refined on
August 9th to per pound, and have
made no change since. Quotations
today are rs follows: Cube, Crushed
and Powdered, 6lc.; Dry Granulsted,
SIC; Extra {, 5sc.; Golden {, 0sc.;
ID Sugar, l,c.
Half-bsrrels are now ic. more, in
stead OF &c. As formerly. Boxes &c.
more.
Prices for export to Honolulu are &c.
less, or en- the basis Of 5fc. for granu-
lated.
Basis: We quote the following
changes since our last circulsr:-Aug.
| 10th, S.l6 (Ssles, 5000 bags at this fig
ure, and 800 bags at Slc.). 18th, SIC.
,sales, 500 bagsl. 18th, SIS (sales
800 bsgsl. 10th, IL lsales, 300 bags
at this figure, 200 bags at 81, and $500
bags st 5 So, Goth, S! (ssles, 1000
bags. 24th, SIC. (sales, 1900 tons
at this figure, 1900 bags ut Ssc.,
and 1900 bags, 9o test, Ssc.l. Since
the 24th there has been no change re-
ported.
In addition 10 the sales noted above,
there have been Others between the
dates, but net affecting basis. The
above quotations are the basis of
the prices in New York, and up
TO the 10th inst. established the
basis for island sugars. Since
that date, however, the New York
market having ruled in some in
stances half 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 n hard struggle the
bill, as passed by the Senate, became
law on the oSth inst, aud the sugar
schedule is as follows:
All sugars No. Is Dutch standard
in color or under to pay duty of 30
per cent. ad vslorem, and all sugars
above No. 10 Dutch standard in color
shall pay in addition one-eighth of a
cent per pound. Also onetenth 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 q
bounty on the export thereof. 1t is |
also further provided that nothing |
contained in the schedule shall be so |
construed as to abrogste, 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, |
1875, 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,ad-
vancing tendency as the end OF the |
tariff legislation drew near, and it |
became more apparent that there
would be q duty levied on sugars.
The transactions have been very large
during the month, and especially |
towards the end. The magnitude of
the dealings was source of universal
but probably less surprise
to those Immediately interested than
to the outsider.
Such, however, was the natural
of existing conditions. There
was practically only one source of de-
mand and it was ready and anxious
to take every pound it could get pos
session of under the existing free
schedule, aud when offers finally
reached the level where many holders
could realize good profit, they let
the goods go.
Transactions would even have been
still larger but for the fact that i'm
porters finally commenced to with
draw, and look for higher rates.
Transactions in refined have also
been large, but the liberal accumula-
ton of stock already in hand served
Is a check upon q great many oper-
ators in this article, who could have
taken larger quantities, and are there
lore much disappointed.
Refined advanced in New York to
!. SO for graduated on the 23d instant,
and 81 on the 18th instant; but it is
not expected, however, that there will
be much more advance in this article
1t present owing to competition in
Oreign refined on account OF the large
of the protection now afford
u to refiners in this country.
1t Is quite possible that raws will
not advance at present much over
present price of 34c., duty paid basis
or centrifugals, which is equal to &c.
,O-t and freight
Stock Of sugars in the West India |
Islands is now very small, the usual
balance at this season having been |
transferred 10 the stock Of this
The stock remaining in Cuba, ac-
.ording to advices OF August 23d, is
,nly 81 coo 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 kieo. Prospects for the coming ,
rops in these islands is reported favor :
.ble, although rain is needed.
The growing beet crops are also in ]
condition
Our latest Geographic advices from
Sew York of today quote value of
,uba centrifugals IS test, ex ship, I
wharf or store, SIC. Market active :
md strong.
Beet crop promises TO be larger than
asst year, and reports from cane crops
more favorable. Rain is falling m
Ight showers. Louisiana crop re-
OFts ire also favorable :