The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-04-25
WllLET AND GRAY'S
CIRCULAR LETTER
The Price Of Raw Sugar Has Declined
a Trifle and Refined IS
Unchang d.

Willett & Gray's circular letter oil
April ) shows a decline in raw sugars
and no change in refined. The history
of the market up to that time is more
fully set forth in the following quoOa-
tions from their circular:
THE WEEK.-Raws declined Lice.
Refined unchanged. Net cash quota
tions.
ms weeks summary of the statisti-
cal position shows stocks in the
United States and Cuba together OF
267 COS tons, against 25I,297 IONS last
week and 291 AGA tons last year, a de-
crease OF 2f,i56 tons under last year.
RAWS.-Very heavy receipts OF 4O,-
211 tons made a dull and weak mar
ke;, OF which buyers avdiIed to reduce
their bids, and sellers accepted the
situation and sod at basis of 3-8c for
centriiugals, showing a decline OF
3-32c to Use per pound from the high
est price paid. Just at the close, how
ever, in view OF the unfavOraD.e re-
ports received by us of the Cuba and
Porto Rico crops we have reduced our
estimate of the former 10000 tons and
the latter $1,000 tons, and this has
caused a fiTmer tone to the market. 1t
is becoming more and more evident
that a scarcity of cane sugars is 10 be
feared at some time during the pres
ent campaign. At any rate with occa-
sional exceptions like the present week
the trend of the market is likely to be
steadily upwards.
REFiNED.--t GLOWING the move OF
the Arbuck.e refinery last week, il
was naturally expected that the de-
G. inc in raw sugars would be followed
by corresponding decline in refined
y all refineries, to the parity of Ar
buckles list, at least. But equally sur
prising as the Arbuckle decline is the
allure to decline by others, showing
a further mystery in the situation. OF
course, with the later firmness in raws
there is less expectation of decline in
refined and buying can proceed along
the same lines as before. In fact, we
have an impression that buyers might
do well TO anticipate a better condition
Of the refined sugar market as related
10 raws before very long.
SAN FRANCISCO. March 80, 1900
No change in prices of sugar sinle last
report. The market is very firm, with
heavy demand. Prices are as follows:
Dry granulated, bags, 5.10c; barrels,
soc; Hongkong, bags, sc.
CUBA CROP ESTIMATE.-Last
month we gave notice that we would
be obliged to make further reduction
in our estimate of the Cuba crop. We
have since received very unfavorable
reports from the island, showing that
me effects of the drought of last sum-
mer are now being fully realized. In
MatanZas the production will be near
~ % per cent less than last year. In
parts of Havana the yield is 60 per
cent less, while in Santa Clara and
Santiago the yield will be very short;
much OF the crop has been used for
planting. Centrais are finishing grind
ing earlier than usual, there being
only seventy-nine now working.
against 107 last week, and 1l2 some
times last year. We therefore have re-
duced our estimate OF the crop to 1885,
900 tons.
PORTO RICO CROP ESTIMATE
Reports are received of very largely
decreased tonnage of cane and unsat-
isfactOry yield of juice, which will re-
suit In much less production of sugar
than anticipated. We therefore re-
duce our estimate of this crop 70 81, 900
tons.
Receipts of sugar from Hawaii at
Boston, New York, Philadelphia and
Baltimore are, in tons: March, 1898,
1929; March, 1899, 6,69I; March. 1900.
9.13l; January 1-April /, 1898. 1920;
January 1-April l, 1899, 10,11S; Janu-
airy 1-April /, 1900, 9,514; entire year
1896, 46,1S5; entire year 1897, $3.50;
entire year 1898, 9l,009; entire year
1899. l3O.S41