The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1895-01-04


new to note concerning the condition
of the local market, excepting fur
Their decline in prices of refined. The
demand for this article continues light
and the Refinery closed. Prices o
refined were reduced here on the 24tt
uItimo to the basis of SIC. for granu
lated; Dec. 4th, &c.; Dec. 18th, 4sc.,
since which time they have continued
unchanged, excepting for export, and
this price was reduced on Dec. 18th to
the basis of 41c. for granulated. The
Western Sugar Refining Company's
list today is as follows: Cube, crushed
and powdered, SIC; dry granulated,
4c. i; confectioner's A, 42c. /; Magnolia
A, 4sc. extra c., 44c. ; golden c.,
&c. (; d. sugar, 32c.
Basis: There were no sales Of CEN
trifugals reported in New York from
November I'D to December 10th, and
the basis for island sugars during that
time was BIC. net for 50 test. On Dec.
10th reported Dec. 12th), cost and
freight sales, 1000 tons were made at
$50, making the basis sos net; 18th,
500 tons at 81, making the basis &c.
net; 14th, spot sales Of 1000 bags at st /,
making the basis 90. net. (Sales
were made on the 18th instant-1700
bags at the same price,; 10th, cost
and freight, sales 700 tons at 3.14,
making the basis 2.s9 net, and 2lst no
sales.
Eastern and foreign markets: We
have nothing Of encouragement or
special importance to note concern
ing the general situation of the sugar
trade, as conditions remain much the
Same as last advised. Prices both in
this country and Europe, although
having previously reached the lowest
point ever known, have still further
declined. The principal cause Of the
depression is overproductton, which
il about the same in all the countries.
In addition to the immense beet crops
Of Europe which are now pressing upon
the markets of the world, there will
soon be 1000, 600 tons, crop Of Cuba,
for sale, besidee the crops OF the other
West Indies, which are all promising
we'll. The conditions in the United
States, owing to tariff changes
whereby refiners claim there can be
no profit for them on account OF the
small margin between raw and re-
fined, will also tend to continue the
depression indefinitely. Prices are
fast approaching point where exist
ence will be a struggle for life for pro-
ducers.
London quotations for beets since
our last circular have ruled as follows:
November oath, So I'd; 9th, 9s I'D;
28th, 9s ID; 3Oth, So lid; December
LIST, IS 1O4d; 4th, 9s I'd; 5th, IS 103d;
Sth, IS ed; 10th, IS Sd; 18th, IS I'D;
18th, IS Cd; 18th, So I'D, and since then
no change.
Germany is fast waking up to the
situation and will make desperate
effort for the sugar trade Of the United
States. The Reischtag has discussed
the proposed amendments to the law
in Germany for the taxation Of sugar
in order to remove the injuries pro-
duced on the sugar industry by the
foreign countries. Herr Paasche said
that the position of the German sugar
industry was most distressing, and
that it was very important that some
thing should be done for an industry
which employed 400, 900 people. The
danger he claimed arose from the de-
pressed condition of husbandry; the
farmer, finding that his grain did not
paw, grew beets. He concluded with
an increase in the ex-
port duty on sugar, and it was also de-
cIared that ono of the reasons for the
depression in the sugar industry was
that the United States imposed a spe-
cial duty on bounty.paid sugar.
1t is impossible to say whether our
present laws regarding sugar will be
altered, but it is not probable that
will be done during this
session of Congress. The Secretary of
State, Gresham, has notified the
Spanish Government that if they con-
tinue to discriminate against the ex-
ports from this country to Cuba in
favor of Canada, it will certainly in
vite retaliation, under the Act of 1890,
against Cuban sugars.
Should this policy be pursued and
heavy prohibition duty placed on
Cuban sugars, it will be u serious
blow to the Trust, as the sugars of
necessity will be refined elsewhere
and eventually reach this country.
London cable of December 18th
quotes Java No. 10 d. S. lis. 3d., fair
refining IS. First marks German
los. Sd. fob. Hamburg,
equal to $34S net cash delivered in
New York, duty paid.
Our latest mail advices from New
York of the 18th inst. state that the
market for raws presents no new
features and nearly every condition !
appears to favor buyers, the principal :
customer being the most Indifferent. /
Holders, therefore, are obliged to !
choose between accepting whatever Is !
offered or carrying their sugars for the /
chances later on in the season.
Refined sugars in New York have
continued quiet with little demand
Prices touched the low figure of 1914 /
'or q day or two, but were afterwards |
to 1881 net, which Is the |
price today.
Total stock of sugar at four ports L. |
J. December 18th, 1S6, 239 tons, against |
IS, Ill tons last year. |
Total stock in six principal ports OF |
Cuba by cable same date, 13, 500 tons
.Qainst $1,000 tons same time last
year.
Total stock in all the principal
Countries l, I39, 439 tons against 927, 74S
ons same time last year. Ahoats to :