The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1900-04-20
LATEST NEW YORK
SUGAR ADWCES
WiIIett q Gray's Weekly Letter Gives
Statistics and Details Of the
SaCohafIne War.

willett a trays Weekly taistical
Sugar trade Juafnai Oi New lo.k has
the following In IT, issue 81 Mach ~;
Statistics ID special cables show the
following
CUBA. The six principal ports.
Receipts, 1900, Exports, 6.2UO, STOCK,
$4,000 tons. against 7s.5UV tons last
year, 100 Centfals grinding against / "
last year
EUROPE Stocks In Europe, 2.l2l,-
900 tons against 2,ll5.OOO tons
last week, and 2,USO,So5 tons
last year. Total stocks 0. europe aud
America, 1878, 2g7 tons. against z,ot5,-
6s2 tons last week. and z,o5o,ozi tons
last year at the same uneven dates aAd
,oos .54o tons, at eveu dale OF March
lot last year me eAcess OF seOch 10
24.yiS toms, against an eAccss Oh oo,olo
tons last weeh, aud an eAUeas OF 5y,v-o
tons december 2otn, 1893.
HAMDURG.-3,ov tons OF raw beet
sugar 70 America from HamDuIg and
Bremen this week; 5000 tons engage
ments NO renn,d shipped.
RAMS.-1ne demald Tor sugar dur
ing the entire week Was unusually good
from both the American Sugar REIN
ing co. and the independents, local and
al outpo. Is, In fact which business
finally reaoned 1-32c. per lb. advance
mere, 1t reached l-l6c. at Boston, cos
ing there at 452c. for SO test Cent llu-
gals, against 7-1Gc. to l5-32c. here.
The rece pts were AGAIN below the re-
quirements and stocks lost ] 1856 tons.
II is somewhat notable thai new crop
West India sugars are still kept back
and not Offered in such abundance as
is usual at this season. Natural y Por-
to Rican planters are waiting for our
Congress to reduce duties on their SUI
gars, but Cuba and other countries
have no such expectation to look for |
ward to. The Cuba crop rece p were !
a lttle larger this week, 1900 tons, |
against 1890 tons last week with lG7 |
centrals grinding, against 109 last week |
and 112 last year. The total stock in |
tie United States and Cuba together is |
257,297 tons, against 272469 tons at |
same time last year. While this stock |
looks safe against scarcity If IT can be |
kept good, here is still room for
anxiety as to securing tne usual amount |
of cane sugars from the Java crop 20 |
prevent a possible shortage during the
All conditions tend towards |
a firm, steady market with slow, but
sure, Improvement
REFINED.-Som has happen |
ed this week that has never come be- |
fore during the progress of the sugar |
war The change OF method in January |
OF quoting refined sugars in declmals |
instead OF in fractions, while raws are |
still quoted in fractions, has led TO a |
peculiar circumstance, Tor with about |
every Lice, or 6Hc. per 100 lbs. adj |
vance In raws, there has been but BE- |
per 100 lbs. advance in refined. Each |
OF such advances has reduced the re- |
iiners' margin lAc. per 100 lbs, and !
II continued long enough would e2ome
serious In the natural course OF the |
trade, but greatly to the surprise of |
everybody, and especially of other re-
liners. Messrs. Arbrckle Bros. on Wed |
nesday reduced prices Of refined be. per |
100 lbs, after having paid ] BE ad-
vance In raws themselves, and l-lGe.
advance paid by other buyers. An adj
vance in refined was naturally expect
ed to follow the advance in raws, and |
the meaning and outcome Of this extra
ordinary move against their c0mpetit-
ors In and out of the Trust" are quite
on ordinary business Drin-
ciples. Such move cannot but be fol-
lowed by some sensation Of importance
before great while. Buyers OF refined
Will do well to watch for developments
very closely and carry only stock for
requirements. The Howell refneries
have evidently abandoned al inten-
lions OF opening up for this season and .
we shall expect to see others closing
down eventually under a continuance
1f prevailing conditions. The oDinion
)f the American Sugar Refining CO. up
IN these new features of the trade is
given elsewhere.
European markets have been firm, as
/ whole, under small iiIctulLions, CLOS
ng for beet sugals at IOs. l5kd against
los. 2hd. last week, The hikh point OF
he week was los. 2Ad.
President HaYemeyer OF the Ameri-
AN Sugar Refining Company, is quot
ID as follows regarding the action OF
lessrs, Arbuckle Bros. IN d. zee plating
decline in refined on an advance in
avs: "A competitor this morning re-
Iuced the price OF refined sugar ON an
advancing raw market. This Is I'M
laralled In the history Of the trade;
his further dimlnishes the margin be-
ween raw and refined, in which 10 us
here was no profit. Such a course can
My be explained because OF the most
IbJect necessities, which Is not to be
hought OF, or the determination To
make the business disastrous 10 all
nRaged In II. The American Company
VII not meet the prices while the raw
market remains as II Is, To do so
would certainly be at variance with the
declared policy of the company 10 keep
[ financially strong 10 meet any form
II competition which may present IT,
elf OF which this mornings action on
he part OF the connection is up 10 the
resent time most formidable.
THE condition of the business since
annary LIST, 10 say nothing OF this
Mornings development. has not heen
neh as 10 warrant any further dividend
I the rate OF Q per cent. and II ex-
sting conditions continue, the rate will
10 much further reduced II my recon-
prevail II Ia deemed that
What Is most advisable for the company
3 also IN the Interest Of the stock
lOldersp