The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1899-08-04
SUGAR MARKETS
From Willet & G 'ay's Lat.
est Circular.
Outlook for Hawaiian Sugars-Cu.
ban and Hamburg sxports
Stocks In Europ. Decreasing.

The following sugar items are from
Willet & Gray's latest New York circu-
lar:
RAWS-T'he receipts for the week
ending July Goth were encouraging to
holders for an advance. as they were
only 29,O59 tons, against 1880 tons
for the preceding week. Refiners
stocks are now SO large that they are
quite Independent of the market, so
much SO that the regular criticism
which Is looked for at this season has
already appeared as to the correctness
OF these figures. New warehouses have
been recently erected. and old houses
rearranged for the reception OF surplus
sugars, and almost unlimited stocks
can be carried by the largest refiners
The receipts of raw sugars have kept
up at so much larger rate than usu-
al that they are now 213, 766 tons ahead
OF last year, and the surplus not re-
quired for consumption of course re-
mains with refiners. The consumption
to the present time has increased 49,
l55 tons, through the four ports, or say
lSh per cent, which Is a remarkable
increase.
REFINED-The refined sugar mar
ket takes no notice of the declines in
raws, but keeps on the even tenor Of
its way without change of quotations
and with the present prices guaranteed
against decline for the remainder OF
the year. The difference between raws
and refined Is now S3lac. per 100 lbs,
which Is within to 1Oc. OF the average
difference in the best refining years
The independents having ceased to cut
prices when trade is dull. there appears
no reason why the present basis OF
profitable refining should not continue
indefinitely. Refined sugar Is cheap
enough to warrant the expectation of
a continuance OF the large consump-
ton, particularly as the difference
named is not caused by any advance in
refined, but by the decline in raws,
which now appears permanent for re-
mainder of the season, perhaps. With
the guarantees given buyers, the in
centive remains to carry full stocks
and push as much sugar as possible
into consumption. Southern granula-
ted in the West is about 1sc. below
New York basis.
HAWAII-The outlook for the sugar
industry in these islands is at present
very promising. Much new and supe-
riOr machinery has recently been in
troduced, the capacity OF several mills
has been doubled and new sugar com
panies are constantly being organized.
The present crop promises to be larg-
er than the last and Is estimated at
23O, 900 tons (2,204 lbs. against last
years crop of 100000 tons. The crop
of 1900 promises to be even larger. The
last new company incorporated Was the
McBryde Sugar Co., Ltd, capital 3d.
5OO.O 900, which 1t can increase to $l0,-
000, 900 when desired. II has obtained
control of 1884 acres. of which 5000
acres are of good sugar land. The cr-
tate is located on the southerly side of
Kauai. This will be the second largest
estate in the islands, that of Hawaiian
Commercial Company, on Maui, being
the only one having a greater area.
Sugar stocks have been very quiet dur
ing the last month.
CUBA-The six principal ports Cuba
Receipts, 800 tons; exports, 5000
tons: stock, 81 900 tons, against ~ 500
tons last year. Grinding has ceased.
EUROPE-Stocks in Europe, 1885,
900 tons, against 1,323,0 900 tons last
week. and 1,292.2S1 tons last year. To-
tai stocks of Europe and America, l.
470,5S7 tons, against 1.67l ,62S tons last
week. and 1858, $50 tons last year at
the same uneven dates. and 1,957,03S
tons at even date of June LIST last year.
The deficiency of stock Is now 229,373
tons, against a deficiency OF 25G,5sS
tons last week, and deficiency OF 1922
81 tons December 29th, 1885.
HAMBURG-No shipments OF raw
beet sugar TO America from Hamburg
and Bremen this week; 1000 tons en-
gagements. No refined shipped.