The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1896-01-31

I
Slh. Prin' iI'al grades are quoted to-
day as follows: Cube, crushed snd
powdered, 5sc drv grsnulated, sc. ::
coGt, c iou-i> =, 4se; magnolia A,
ise.; extra G, 4&c.; golden c, 4sc.
Prices in bond for Export to the Hs-
waiian Islands were advanced on Jan.
10th TO At. for sranGlated. Wequote
Hongkong and beet cranulstei st lie
net, but Transactions at this figure
have been limited.
The refinery starts up again this
evening, after having been closed for
nearly three months. The stock of
raws and refined on baud is small, but
with the recent and expected arrivals
of Hawaiian, there is sufficient 10
commence work.
There have also been small receipts
of Mexican sugars during the past
month, which are sold on the full
New York basis according to grade,
and are used in filling export orders,
the refinery thereby oenefiting by the
drawbacks, Oh account of duty.
Tsriff.-We have nothing of partie-
ular interest TO report since advices
per Alameda of January 9Th. The
| bill is still in the hands of the Senate
Finance Committee, and it is expect
ed they will report in few days. Its
\ fate seems to depend upon Jones Of
4 Nevada. II he insists on voting for 8
duty on raw sugars, the bill will be
reported adversely, but if he votes
with the Republicans 10 sustain the
bill without amendments, it will be
reported favorably.
Basis.-Advancedo on December 30th
to SIC. net, and since that date there
hss been no change. The only sales
reported are as follows: Decem Der
3Oth, spot 10000 bags; 3lst, spot $500
bags; January Sd, spot 600 bags; 6th,
spot 1900 bags; 18th, spot (no quantity
given) all at Bic. for So test.
Eastern and Foreign Markets
Conditions in the New York market
have continued to improve, and an
advance in values has been estab-
lished Since the S0th ult., price of
eentrifugals has been quoted strong at
Sic. for 90 test, and muscovsdos at Ssc.
for So test. GRADUATED sugar was sd
vanced to s46e less / per cent aud l
per cent, on the 30th ult.; SfSl on the
inst and advanced to 4fc. on the 18th
inst.
London quotations for beets have
ruled as follows: Dec. 18th, los Cd.
/; 30th, los. l0d. J; Sst, lis; Jan. 2d,
los. lid. I; 81, los 10d. !; 4tb, los. sd;
7th, I0s. 81. I; Stb, los. 3D.; 16th, los.
lid. / and nth, lis.
Me-srs. Willett & Gray, under date
of Jan. 18th, report total stock OF
sugar st four ports, Z. s., 139, 424 tons
against 40, 16i tons last year; six
principal ports OF Cuba, by cable same
date, stock Sc, 500 tons against 10000
tons last year. Total stock ia all the
principal countries Jan. 9Th, 2,5l6, 100
tons against 1885, 465 tons same time
last year. Afiosts to the United States
from all countries estimated at 81, 200
tons against $1,000 tons last year.
The reports from the Cuba crop con-
tinue unfavorable, and 300, 900 tons is
considered 8 full estimate. Regard
i0g estimates of this yesr's crops OF
the world, we quote from Dunn's re-
view Of the sugar trade, under date of
Dec. 80, 1885, as follows:
The estimates of production avail
able for 1857, as given by Mr.. LIGHT,
are 2,540,000 tons If cane sugar aud
4,l3O,OOO tons of beet root. In the
former case there is thus an estimated
decrease of 5000 tons, and in the
latter of 615 coo tons, as compare
with the crop of 1915. In an
estimate, confined to beet root, made
by Mr.. Gieseker, the Belgian author
itv, he calculated the deficiency ut
| | COG, 600 tons, but, as matters have
since shaped, Mr.. LIGHTS estimate
appears 10 De much nearer tie mark
In these estimates there is q complete
reversal of what took place last year,
when = surplus of more than 10000
tOus over the crop of 1898 81 had TO be
| faced, and which produced, as has
| been seen, such disastrous conse-
quences 10 values. The change in the
/ position stan0s for the moment dis
counted by sn advance of say 2s per
cwt. on SIS per cent. beet root and %.
/ I'D. per ewt. on first marks granu
/ lated from the lowest points of the
year. The matter of production,
which of course from the very nature
! of things, must ever remain a dOmi
uant factor in the regulation of all
values, becomes more Than ordinarily
20 in the case of sugar, because of the
unnatural conditions which apply to
its cultivation in European countries
Protected and fostered, as it had been
by export bounties, etc, the quantity
produced has periodically so greatly
overlapped requirements, that this
danger may be said to stand before
the trade as 8 permanent menace.
This is especially the case in an age,
and in relation to an article, which
necessitate so much antieipatory &C
ton.
Beginning with the crop of 1885 s,
the production was 500, 600 tons 1t
vas INCREASED 500, 900 tou- Ia the fol-
lowing year, and this increase was
maintained down TO and including
the campaign of 1855 50 In that of
lSS9-90 q further addition of over
200, coo tons was made, and there ii
rested till 1928, when almost 800
600 tons were aided to the yearly
supply. In the following year an
equal addition again took place, but
only to be followed by one of 500, 600
tons in 1894 s.. At this point the DO
sitiOn was, Is il were, put under re-
pair by the area OF cultivation for the
crop OF 1866, being so reduced as to
bring back the supply to something
like what the crop of 1888 81 produced.
which was in the neighborbood of
s, SIC, 600 tons The effect of this cut
ting down will mean a reduction of
somewhere about 100000 tons from