The Hawaiian gazette., 1896-11-20
MARKETS ABROAD
Have Something to Say About
Smear and Other Products.
BEET CROP HAS FALLEN OFF
Hawaiian Sugar Market
in Good State.
Accurate Figures From All Over
the World-Result of Election
Means Prosperity,

prices of refined in the local market,
and the Western Sugar Refining Com
pany quote as follows: Cube, crushed
and fine crushed, 57sc; powdered, 5ssc;
dry granulated, 4$c; confectioners'
A, 4%c; magnolia A, 4$sc; extra c,
414c; golden G, 41sc.
These prices are subject to usual re-
bate of &c per pound at the end of
each quarter Price for export has de-
clined 14c per pound, and we quote in
bond on basis of 4c net cash for gran
ulated.
Owing to the large and continued de-
mand for beet granulated of the Ala
media Sugar Company tat 1sc per pound
below price of the Western Refinery
granulatedD, which has kept their
stock sold up very closely, this factory
has for the present advanced price TO
the same basis as refinery quotations
| for granulated.
Chino Beet Factory closed its sea-
son on the 25th ult., crop being less
than was anticipated, and only
amounting to about $4,000 tons of
beets. The campaign has not been as
prosperous in that section as before
as the season has been too dry. Under
the circumstances, it is considered that
the crop has done well. Work has been
commenced on the new beet factory
at Alamitos, California, and the foun-
| dalton is now we'll along. The Wat
sonville and Alvarado factories are still
working full capacity, and the beets in
these sections are turning out well.
The production of sugar at both fac
tories will be very large, and the cam
paign successful, if nothing unfore-
seen occurs during the next few weeks.
The Alameda factory will not finish
work until January.
| Now that our election has passed and
resulted in the success of the candi-
dates of the Republican party, which
probably insures a further protection
to the sugar interests in this country,
the Spreckels new factory will no doubt
be rapidly pushed to completion, and
| there are two or three other factories
projected.
Basis-Continued at 2%c net until
October Goth, when it advanced to 2Bc
net; 2Sth. to &c net, and since that
date there has been no change. Sales
are reported in New York as follows:
October 26th, spot 10000 bags at 31sc;
2Sth, spot, 3,400 bags; 10Th, spot, ia
va 1000 bags; 30th, spot, 10000 bags;
November I'd, spot, 1000 bags-all at
SIC, and since the I'd no sales have
been reported up to date.
Eastern and Foreign Markets-The
general situation has improved since
our last circular, as will be seen from
the prices of centrifugals in the New
York market, as noted above, and also
from prices of beet sugars in London,
which we quote as follows:
October goth, 9s; Dist, 9s led; 23d,
IS; oath, 9s a4d; Goth, 9s; 2Sth, 9s 1hd;
10Th, 9s 2Ad; both, 9s sd; 31st, 9s
11ad November 4th, 9s 214d, and 7th,
SIS 3a4 d. Buyers in New York were sue
cessful in keeping prices on the basis
of &c for SO per cent centrifugals until
the 18th ult., when finding that their
tactics were preventing them from OBJ
tanning the required supplies, were OBJ
liged to meet sellers views first with
an advance of 1sc per pound, and final
ly Ac per pound, and at this advance
they secured Immediately about 10000
tons of all grades. The parity of the
New York market has for some time
ruled below other raw sugar markets,
and this caused owners of cargoes ar
irving to put them into store, and
many afioat cargoes originally intend
ed for the United States, have been di-
verted to Europe. Refined sugars were
advanced in New York to 4.06 on the
18th ult., and to 4.1S on the 7th inst,
less usual discounts of l per cent.
Total stock of sugar in four ports
United States, according to Willett &
Grays latest circular of October 18th,
was 317,O93 tons, against 151 ,851 tons
at same time last year. Total stock in
six principal ports of Cuba by cable,
same date, 41,209 tons, against 149. O7O
tons last year. Total stock in all the
principal countries, 1,O92, 6O2 tons.
against 1898, 1853 tons at same time last
year.
Czarnikow's latest London circular
of October 22d, states that when LIGHTS
estimation of production were issued
(Which we give below the market ma
terially declined, but a recovery to pre-
vious values shortly took place. not on
ANY Improvement in figures, but partly
on rise in wheat, which may prove
a serious competitor for spring SOW
! ings, and partly on the belief that
LIGHTS calculations of stocks in Sep
TENDER next may prove as much above
the mark as the calculations for last
September were below the mark.
These calculations are based on fairly
liberal European estimates; on Russian
exports equal to last season, which are
always difficult to foretell; on Cuban
production of 100000 tons (which GER
tainly looks large), land on the sup
position that the exhaustion of invisi-
bic stores in raw and refined, will not
materially affect statistics, thus ar
irving at 1,415,000 tons stocks next
September, against 100000 tons. 1t
seems more prudent to assume that
our stocks will show a considerable
surplus in January and February, and
reach an unprecedented total then, but
THAT the statistical movements in Feb