The Honolulu republican. [volume] (Honolulu, T.H.) 1900-1902, 1900-08-04
COMMENTS on THE
SUGAR SITUATION.
San FRANCISCO Wasp's
Rather Queer
Comment.
TALKS OF A PLANTERS UNION.
BOSTON COMMERCIAL BULLE-
TIN REFERS TO TRUST
STOCK.
Another Big Advance in the Price
of Honolulu Stocks
to Be Offered in New
York.

The San Francisco Wasp has the
following somewhat peculiar comment
on sugar:
The most important fact in connec-
ton with sugars is the advance in the
price Of the raw matter. taken in con-
nection with the other fact of the Ha-
waiian plantations still having half CT
their crop on hand to prost by the rise.
The labor troubles in the Islands are of
less importance than has been report
ed Free labor. which constitutes so
per cent of the plantation force, ap-
pears TO be perfectly satisfied. the dis
position 70 strike being confined TO the
remaining 20 per cent, who have been
angered by nl-advised action on the
part of the Planters Union This mis-
take was quickly recognized in this
city, and by one of the recent steamers
a gentleman. prominent in sugar cir
cles, went 10 Honolulu with the ex-
press purpose of inducing that body
70 recede from its action. No doubt is
felt that he viii be successful and that
all viii go along smoothly after his
arrival Nothing much is being done
in sugar stocks, nor is much expected
until after the reorganization of some
Of the companies, rendered necessary
to carry out Edward Politz's arrange
ments in New York for placing them
on that market in the autumn
The Boston Commercial Bulletin, in
its issue just at hand, has the follow
ing comment on the sugar situation:
a comparison, very unfavorable 10
the Wall street speculative favorite,
has been drawn this week between the
ruling price of sugar stock and that
Of the preferred stock of many indus
trials paying as much. or more, an
lually in dividens. While comparisons
are always odious, in this case they
are interesting. Out of list of nine
teen stocks, sugar sells the highest in
he market and yields the lowest in
come return
1t is further asserted that this is the
busy season in the sugar trade, and
hat the war will probably be resumed
with vigor so soon as the reiners have
made bit of money by refraining from
and advancing prices. In
other words, sugar will drop back. ac
,ordiDg to those who analyze the sit
Iation with an eye to short sales, and
settle at a figure more consistent with
is dividend payments. The local in
crest in sugar speculation seems TO
nave dropped the game and turned 10
more congenial and seasonable sum-
ner pursuits.
THE sharp advance across lis dur |
ng the last days of the week rather
upset the bear theorists and gave the |
pulls an opening. The latter figure |
hat the company is making a profit |
If S165 a barrel, which easily gives |
=. 600 900 a month, as the output is be- |
ween 10000 and 10000 barrels per day. |
Such a monthly profit would speedily |
the surplus, which is sup !
)osed to have been so greatly reduced |
through the demands of the war and |
he necessity OF maintaining dividends. |
/ requires s2,5S7,76G to pay the pre- |
erred stock dividend each year, so |
hat if the company is really making |
z. 000. 600 a month it could easily in |
.rease the next quarterly dividend on |
he common to the old II per cent basis |
md still have a good sum to add 10 |
surplus"
OF the sugar trade in the market the |
;ame journal has the following:
Following The strength of the raw
sugar market a further advance was
made in refined by all the refineries, |
bringing the price for granulated to |
1850 per pound net cash, difference
II 94c per 100 pounds between raws and |
This last rise would seem 20 |
BE sufficient for the outlook of the i'm |
Mediate future. A very large demand /!
or refined neeessitates the running Of |
Ill refneries quite full, and a rapid |
of raw sugars is constant |
Y going on. II viii be well to carry d |
ull line of stock.
Receipts for the week were 1897
.ons and MEETINGS II 900 tons, and !
stocks in United Stated and Cuba to-
yether are 1885 tons. against 1.22S |
ions last year. say Willett & Gray in |
heir weekly market letter. The de- |
nand in the local market is steady at |
he advance.
Cut loaf, 645c; crushed. 6.45e: DOM |
noes. 6.50c: cubes, e.2oe; xxx pow |
Tered. e.o5c; standard powdered. &C:
zranulated. fine and diamond A. 5.e0e.
,-pound bags and a-pound cartons. &C:
soft whites. $500 5.65e: extra C's, SIS |
95.55e; FELLOWS. 5.20G 5-35c, all with
lac per 100 rebate. Revere graduated
md ine is quoted at 5.15e; Belmont A. |