The Hawaiian gazette., 1896-05-08
Williams, Dimond & Co.'S Re-
view of the Market.
FEW SELLERS IN THE EAST,
Difference Between Buyer and Seller.
Activity In Refined sugars-Larger
supplies than Usual-Pianting Area

The Western Sugar Refining Company
advanced all grades OF refined for Cali
fornia, Oregon and Washington Use per
ID, the Sth inst, and again on the 18th
inst, sc. per 10. Since the 18th inst,
there has been no change and prices
are quoted as follows: Cube, crushed
and powdered, 61sc.; dry granulated,
55sc.; confectioners' A, sac: Magnolia
A, SIC; extra c, 51sc.; golden c, &C.
Prices in bond for export were also
advanced on above dates 1sc. per 10,
and we quote on the basis of 51sc. net
for granulated. We quote Hong Kong
granulated in this market at SIC. and
beet granulated at 5ssc. net.
Basis-Advanced to &c. net for SO per
cent. test on April Sth, and Lice.
on April 18th. The only sales reported
since our last circular were $4,000 bags
spot at 4Ac. on April Sth, 5000 bags
spot at 4Ac. on the 9th, and 5000 bags
spot at sic on the 18th inst.
Eastern and Foreign Markets-We
have to report strong and advancing
market since our last circular, but the
business in raw sugars in New York
has been almost at a standstill owing
to buyers and sellers views being Sc.
to &c. apart. Boston refiners have
taken several cargoes of centrifugals
on the basis of 1850 for SO per cent.
test, but other buyers have refused to
pay this figure.
Even at 42sc. there have been COM
paratively few sellers and it is certain
that since the 18th inst, no sugar could
have been purchased for less and very
little at this figure. Muscovados and
molasses sugar do not seem to have
advanced in the same proportion and
have been quoted in New York during
the month at 3a.c. for SO per cent. test.
Muscovados and 312c. for mOlasses.
The market for refined sugars has
been quite active and excited having
been advanced on April It'll to 5.O6c. for
granulated, Sth to 5.1Sc. and 18th to
5.31c.
The price of SSper cent. beet in Lon
don since our last circular has ruled
as follows: 7th, Us sgd; 9th, Us 71ad;
18th. Us SID: 14th, 12s 101ad; 10th,
Us Cd; 18th, Us 9Ad; 21st, Us Cd; 22d.
Us sgd; 23rd, Us Cd; and 25th, Us
|SAd.
C. Czarnikow & Co., London, in their
last circular received here, of April 9th,
write as follows:
1.-The expectations of better trade
after the holidays were not disappoin-
write as follows:
The expectations of better trade after
the holidays have not been disappoin-
ted, and naturally America with its
light stocks took the lead, refined adj
vancing Lie and then Sc, being alto
gether los I'D per cwt. We cannot,
unfortunately, boast of anything ap-
preaching this, the improvement being
only about Sd per cwt., but white
sugars have advanced well in line
with raws, and some United Kingdom
descriptions improved even fraction
more But our refners are still work
ing at ruinous margins, based on cheap
previous purchases, the benefit of
which is almost entirely given away
to the consumer. In like manner for
eign graduated held in second hands
cannot yet regain a normal level, al
though foreign refiners have been out
of the market for long time, and the
April tenders being very heavy, a large
quantity will probably be stored. What
holders generally think of the future
was lately apparent in the heavy pre-
miums paid for summer deliveries, and
after the long stagnation 1t will not
require very strong demand to relieve
the market of pressing secondhand
supplies, especially when statistics be-
come more favorable. The Cuban re-
ceipts were again very light; the Amer
lean arrivals, as anticipated in our last,
were rather moderate, fresh shipments
had to be ordered from this side, and
our visibles must and will decrease at
an unusual rate. Occasional reference
to the course of events in 1893 are to
be met with, but we have now about
100000 tons more supplies than in that
year, and the rise in prices then should
never be disassociated from the disas-
trous subsequent decline; there is
nothing to alter the opinion that, at |
present premiums, we shall have suffi-
cient sugar till next crop, and with light |
stocks in autumn, we ought to have a |
good summer trade at safe remunera-
tive prices, if speculation does not |
again overshoot the mark, and base
its operations more on future. crop pros
poets here and in Cuba than On some
problematic squeeze in autumn.
AS regards sowings an area is ex-
pected similar to 1894, and we fully
want that, unless wonders should hap
pen in Cuba. The only doubt is ex-
pressed about Germany, where the
sugar bill is still in allegiance, where
the farmers pretensions are rather
high, and where factories have not yet
been able to contract the full quantity,
but where ultimately, on speculation
)r otherwise, ii is hoped that the full
irea will be sown. The weather has
not been very favorable lately, cold
and snow interfering with sowings,
)ut since then change for the better
las set in.
Beetroot-June advanced from Us I'd
o Us 101zd, graduated from lbs 71zd
o las; Russian Crystals from 13s SID
o 13s SID, Paris from fcs. 1880 to fcs.
'3.S1. The Austrian March figures
how increased exports and decrease in
tocks. Other figures have not come
o hand yet. We quote today: April