The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-12-05
SUGAR STATISTICS
From Schaefe- & Co., and
Willett & Gray.
No Change In Raw or Refined
Sugars-Oe Demands Moderate
European Markets Steady.

snow little change in either raw cr re-
fined sugars, as the following quota
tions furnished by T. A. Schaefer < Co.
OF this city from their San Francisco
correspondents, and Willett & Gray's
| circular, show:
Sugar-No changes in the local mar
ket, nor for export to Honolulu.
BasIs-Twenty-thi to arrive, sale
J 1000 tons and 412c; since which no
| sales reported. Market closed TODAY
IN New York, on account of the tuner
al of our late Vice President, making
net basis for Island sugar here 37sc.
London Beets-23d, 9s: Gath, IS.
New York Granulated-No change
reported
Eastern and Foreign Markets-Lat-
est mail advices, under date of Novem-
/ Der 10th, report raws steady and firm.
| Very little business on account of alb
sence OF offerings. Refined quiet and
unchanged; demands moderate.
European beet crops are steady and
firm Notwithstanding that Mr.. LIGHT
has increased his former estimate of
100000 tons and latest mail advices
from Europe predict that very little
stimulation in the market would bring
the United Kingdom trade as heavy
buyers and cause an active business
for some time to come
With reference to conditions in the
sugar market for the week ending No
vember 10Th they state:
"Raws unchanged. Refined I'M
changed. This weeks summary of the
statistical position shows stocks in the
2O9,30S tons, against 200,548 tons last
week and 14S,407 tons last year, an
increase of 60,901 tons over last year |
"Raws-The disposition of the mar
ket for the week under review has |
been to maintain steady, firm tone, |
with an increase in the number and |
quantity of transactions. The largest |
buyer entered the market at the con
cession given last week and has taken |
several large cargoes of Javas and cen |
trifugals afioat and near by. In addi- |
ton 10 purchases of cane sugars, our
refiners have been again buying beet |
sugars which are now on parity of |
3-16c for SO degree test centrifugals. |
These purchases have no doubt helped |
sustain the European markets at the |
Is quotation for beet sugars, the low
point of the campaign. Raw sugars
are now at such low level, that In view
of the statistical position covering the
campaign year to next October, it |
would seem quite possible that little.
II any, further decline need be looked |
for, and very likely the market will
remain steady and firm for the imme- /
date future. /
'Refined-The refined sugar market
remains in the same unsatisfactory
condition as heretofore, with not the
least sign of any change for the bet
ter. The people who are active in
giving out rumors of settlements, com
promises, reorganization, etc, among
refners ought to consider what posi-
ton such action would place the refin-
ars in, under the laws of the United |
States and the statutes which are now I
being newly enforced in several States
Any such actions would be immediate :
" followed by decisions against the
new organization as monopoly with
is consequent penalties. The refining
business will continue to be done in c
he same old way until such time as | T
he consumption rises to the level of p
he capacities of the refneries. There
S no other safe or practical way out of |
he difficulties that now Cypress the
business and buyers of refined need
Jay no attention TO any rumors that,
( put in practice, would change the
resent conditions of the trade. Sugars
Ire cheap enough to carry full lines
nd with the probable steady course of
he raw sugar market, declines are not q
likely in refined and present prices may
'e considered safe. We advise carry
ng 4 fair stock all the time.
European markets have been stead
er at their low level and it remains
o be seen If IS for beet sugars may not
rove TO be the low point still of the
lew campaign If so there will be
readiness and stability about the
ugar situation that will be good for n
he entire trade. As it is now, all re-
ners are delivering their products
made out of higher cost raws than the CT
resent parity Of values.
Receipts for the week were 40260 In
ons and MEETINGS 81 900 tons, and
tocks are 196,S0S tons, against 120,475 n
ons at same time last year. Meetings. lo1
lay be reduced somewhat next week,
5 one of the large Tefneries has just e
topped working temporarily.
Cuban Banks Wanted.-The Cuban S
oard of Agriculture has appointed a n
COMMISSION TO present petition TO ID
resident Mckinley urging the estab h,
shment of system of agricultural IL
anks throughout the island, to be Iii
by law, which will enable So
lgar-planters to borrow needed money b,
n their properties. The Commission Ii
ill also seek a hearing before the New b;
ork Chamber of Commerce and Board Al
{ Trade and Transportation, and 9th oil
r commercial associations. In
English Refinery Permanently h,
large Liverpool Sugar Re n,
merry of Messrs. Crosfeld, Barrow & ~
o. has been closed permanently. This Fl
as caused by the b0unties paid on II
ugar produced in the beet-growing Inr
ountries OF Europe and the conse-
uent flooding of England with foreign q,
afned. Great Britain does not impose u
countervailing duty against the boun- II
' paid on sugar imported and there