The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1897-05-28

European markets have ruled quite
steady on purchases made by Ameri-
can Refners. London quotations since
our last circular, for IS deg. test fob.
Hamburg, are as follows: April Goth,
SIS SID; 21st, SIS 71ad; 23rd. SIS SID;
oath, SIS Cd; 29th SIS 71sd: 3Oth SIS SID;
May LIST, SIS esd; 5th, SIS lloyd, and
18th, SIS 9&d.
Late reports state that Holland and
Belgium will SOW 90 per cent less than
last year. Austria 1919 per cent. in
crease and Germany IL per cent. in
crease.
According to Willett & Gray's sta
tistical May 9th, total stock of sugar
in all the principal countries was g.
1853 .59S tons against 2,220,3S9 same time
last year. Total stock in Europe. B.
1877 800 against 2,500,627 tons same time
last year. Excess of stock over last
year, SIS, 209 tons. Afioats to the Unit
ed States from all countries estimated
at 100000 against 10000 tons same
time last year. Total stock of sugar at
four ports U. S., according to latest
mail advlces of May II, SAG, 900 tons,
against 17S,194 tons same time last
year Cuba, six principal ports by
cable, stock 41,091 tons against 54,282
tons same time last year. Visible pro-
duction of the entire Island of Cuba
to May 5th, 172,1 73 tons, against 142.-
767 tons same time last year.
LONDON CABLE of May 18th quotes
Java No Is ID. s., at los Cd; Fair Re-
fining, 9s; Beet, May IS 1015d; June
IS lloyd. First marks German Granu-
lated los SID, f. o. b. Hamburg, equal
to 3.6Oc net cash delivered New York
duty paid
Our latest mail advices from New
York of May 18th state that the mar
ket for Raws is steady and firm, with
further transactions in all grades, and
with no indications but that the pres
ent firmation. Refners, however, are
Indifferent on account of attitude of
importers over holdings, who have
been insisting upon a fraction advance
over late sales. Refined is in quieter
demand and the large stocks of Raws
held by Refiners enables them to be
Independent when figuring on current
TARIFF: The bill as reconstructed
by the Senate Finance Committee was
to the Senate on May 4th, and
a summary of the proposed duties on
sugars is as follows:
On sugars not above 81 deg, rs per
cent ad valorem
On sugars testing between 81 and
SO deg, 35 per cent. ad valorem and
79c per lib.
On SO deg. Muscovados and Molasses
sugar, 35 per cent. ad valorem and Sic
per lb.
On SO deg. Centrifugals, 35 per cent.
ad valorem and 1.16 per lb.
In addition, sugar receiving an ex-
port bounty from producing countries
pay surtax equal to such bounty.
The time for the tariff bill to take
effect is July LIST, 1897 The exemption
clause of the House Bill relating to the
Hawaiian Treaty is completely left
out and this is considered as equival-
ent to the abrogation of the treaty.
Should the bill finally pass without
the exemption clause the question as
to the effect on the treaty would pos
sibly be decided by the Supreme Court,
as it is claimed by some authorities
that special act would be required
to abrogate the treaty. There is very
great objection to the new sugar sched-
ule, as it seems to be a purely Trust
measure, and gives them a differentiaI
duty of .885c per h., which is even
more than under the present tariff 1t
is therefore very doubtful if the bill
can pass without being modified. and
this is bound to cause further delay
A strong effort is now being made to
restore the exemption clause, and it is
believed on good information that the
friends of reciprocity have sufficient
votes in the Senate to accomplish this,
and that the House will not pass a
tariff measure containing the abroga-
ton of the Hawaiian Treaty. AS mat
ters now stand, it is likely to be the
middle of July or August before the
bill is finally passed and approved by
the President.
RICE northumberland is quiet
but firm. Last sales were at 43sc, so
days, but today importers have ad-