The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-10-12
CAUSE OF THE TROUBLE

NEW YORK. Oct. 5-Refned sugar,
we're offered today below cents n mound
Tor the first time In several moath- whiis
the market for this staple WIS reneraIiv
d'sordered by reductions mode last night
500 this morning by the sugar trust and
rs rival the Arbuckles A cut in prices
hts been expected for some time. as the
busy season n over and raw sugars are
arriving In liberal quantities.
Lower Wall street. where sugar brokers'
consregate. was much stirred up today
When u became known that the ArbuckIe.
were soliciting business az fve points be-
low the market made last night by the
trust During the spring and early sum
mer. when there were continual advances
10 refined grades. amounting In all sp over
! cent a pound. the ArbuckIes regularly
followed each advance made By the trust.
The manner In which they have now cut
loose lends color TO various reports that
the trade war u on again.
The reduction by the trust amounts TO
fifteen points Its selling price has noml-
nally been 6i5 cents a pound, but actual
business has bcea carried on for some
tit. AZ $40 cents. The Arbuckies Topped
on twenty points at ono stroke. IL was
intimated In the sugar trade that buyers
were being secretly offered sugar at a
decline OF twenty-five points from yester-
days price. or at $50 cents
The furry In the sugar trade caused
corresponding wave OF excitement In the
sugar stock on the Stock Exchange. Spec
uleton In 10 was heavy. The price was
~ cents lower at the opening. and event
uelly loss Of nearly three points oc-
curred.
James H Post. president Of the Nation
al Sugar Co. Incorporated last spring
and having close relations with the
American Sugar Company. says that the
reductions today are natural trade con-
dillon. due 20 iesscned demand and the
arrival Of raw sugars on the market. Ask
ed what significance the cut OF the Ar
buckles might have. he said I'VE all
have 90 work hard for business. II you
haven't the demand you have TO offer in
ducements 20 get a..
In harmony with the fan In price Of SUI
gar In New York there was a decline OF
forty points In San Francisco. At o
O'Clock the selling price fell from 1856 10
$50 hundred pounds. and IN the after
noon there was a further decline from
$50 20 Nis. Since May the price Of the
refined article has been steadily advanc-
Ing. but In the autumn Of every year
there IL tumble. and consequently the
decline % yesterday was not altogether
unexpected. A number Of the big jobbers
were not looking for the change so soon.
however. and will be losers
Though no Eastern sugar n brought TO
the Pacific Coast. the price In the market
there follows that In New York. The
western Sugar Refinery and the Califor- |
MA Sugar Refinery are the only concerns
On the Coast that refine the raw sugar.
md the price for the refined article II set |
~ them. Besides the output from these |
two renneries there IL no sugar on sale |
here except that imported from Hong |
<onr. The HonGkonK sugar falls and /
advances IN price with the other article. |
bat IL always from % 10 q cents less In |
price.
a fan of forty points In one day II con-
,idered n large decline. but on several |
occasions there have been greater. on /
March 9th Of last year there was q fall
" sixty-two and one-half points.