The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1899-12-05
SUGAR STATISTICS
From Schaefer & Co., and
Willett & Gray.
No Change In Raw or R.finas
susars~Uemands Moderate
European Ma, ke,s STEADY.

fined sugars, as the following quota.
tons furnished by +. A. Schaefer & Co
Of this city from their San francisco
correspondents, and wiilett & Gray's
circular, show:
Sugar-No changes in the local mar.
ket. nor for export to Honolulu.
Basis-Twenty-third to arrive, sale
1900 tons and 4isc; since which nc
sales reported. Market closed today
In New York, on account Of the funer.
al of our late Vice President, making
net basis for Island sugar here SIC.
London Beets-23d, 9s; cath, 9s.
New York Granulated-NO change
reported.
Eastern and Foreign Markets-I1at.
est mail advices, under date OF Novem-
Der Goth, report'raws steady and firm
Very little business on account Of ali.
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 un-
changed. This weeks summary of the
statistical position shows stocks in the
United States and Cuba together of
2O9.3 OS tons, against 200,54S tons last
week and 148,407 tons last year, an
increase of 60,9O1 tons over last year.
"Raws-The disposition Of the mar
ket for the week under review has
been TO maintain a 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 atidi-
ton TO purchases of cane sugars, our
refiners have been again buying beet
sugars which are now on a parity of
4 3-16c for 90 degree test centrifugals.
These purchases have no doubt helped
sustain the European markets at the
Is quotation for beet 81 yars, 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 10 next October, 1t
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
refiners ought to consider what posi-
tion such action would place the refin-
ers in, under the laws OF the United
States and the statutes which are now
being newly enforced in several States
Any such actions would be Immediate
ly followed by decisions against the
new organization as a monopoly with
its consequent penalties. The refining
business will continue to be done in
the same old way until such time az
the consumption rises to the level o.
the capacities Of the refineries. There
is no other safe or practical way out Of
the difficulties that now Cypress the
business and buyers of refined need
pay no attention to any rumors that.
II put in. practice, would change. the
present conditions Of the trade. Sugars
are cheap enough 10 carry full lines
and with the probable steady course of
the raw sugar market, declines are not
likely in refined and present prices may
be considered safe. We advise carry
ing 4 fair stock all the time.
European markets have been stead
Ter at their low level and It remains
to be seen IL 9s for beet sugars may not
prove 10 be the low point still OF the
new campaign. II so there will be a
steadiness and stability about the
sugar situation that will be good for
the entire trade. As It is now. all re-
finers are delivering their products
made out of higher cost raws than the
present parity OF values.
Receipts for the week were 40,260
tons and MEETINGS $1,000 tons. and
stocks are lS6.SOS tons. against 12O,475
tons at same time last year. MEETINGS
may be reduced somewhat next week,
as one Of the large refineries has just
stopped working temporarily.
Cuban Banks Wanted.--The Cuban
Board OF Agriculture has appointed a
Commission to present a petition 10
President Mckinley urging the estab-
lishment OF system OF agricultural
banks throughout the Island. 10 he
protected by law. which win enable
sugar planters 10 borrow needed money
on their properties. Tho Commission
will also seek hearing before the New
York Chamber Of Commerce and Board
0f Trade and Transportation, and 9th
or commercial associations.
English Refinery Permanently
Closed. large Liverpool Sugar Re-
nnery NJ Messrs cr0sheld, Barrow a
Co, has been closed permanently, This
was caused by ths b0nnties paid on
sugar produced 10 the honl -sr0winF
countries ~ Europe ana tho o0nss-
quent Dooding ~ ENGLAND With foreign
rahnsd, nrest Britain does not Impose
A..