The Hawaiian gazette., 1901-09-17
SUGAR.

circular:
Statistics by Special Cables.-Cuba.-
The six principal ports-Receipts, 1000;
Exports, $500; Stock, $1,000 tons, against
6,377 tons last year. Centrals grinding
1 against last year
Europe-Stocks in Europe 712, 900 tons
against SOS. .76o tons last year. Total
stocks Of Europe and America, ss3,s42
tons against 704, 800 tons last year at the
same uneven dates and sS5.394 tons at
the even date Of August 1, 1900. The
excess OF stock is 2ss.952 tons, against
an excess of $50. SOC tons last week, and
deficiency OF Ss,9s3 tons December
9th, 1900
Hamburg.-Shipment 5000 tons su-
gar to America from Hamburg and
Bremen. No engagements. 1000 tons
refined shipped.
Raws.-Only a few transactions were
made in raw sugars during the early
part of the week on the basis Of 4c. for
SO deg. test Centrifugals. Muscovados
and Molasses sugars were at the same
time sold at 1-16c. per lb. decline.
Since then, and under much pressure
to sell near the close, a cargo of Peru
Wan Crystals was sold at 13-16c. per
ID. for 96 deg. test, showing 3-16c. per ID.
decline. This was a forced sale while
refiners were entirely out of the mar
ket, but now establishes quotations for
Centrifugals at 8 l3-16c. for sc deg. test
basis. Several holders during the week
stored their sugars rather than to force
| their sale below 4c., but finally a holder
was found who would not store, and
\, 41,a oh bon
extremely low level for raw sugars and
| raises serious question with Cuban
sugar producers, especially as to the
making of the next crop. 1t Is becom-
ing more and more evident that the
next Congress will be forced to take up
the question Of sugar duties for the ISL
and and the drift OF all conditions Of
the trade points directly to free duty
sugar for Cuba.
The European markets rallied from
the low point of 8s. Sd. to SIS. 4kd., but
failed to MAINTAIN the rise and have
declined to SIS. 2Ad., with an easier
tendency which may carry 1t to IS. on
this decline. This quotation of SIS. 2Ad.
is equal to the lowest quotation ever
known for beet sugars, made in July,
| 1897. The whole raw sugar situation
Is at the moment more unsettled and
demoraliZed than we have rarely ever
known it to be, and more especially so
because it Is so in spite of a good and
increasing demand for refined
Our special cable from London to-
day states that the conditions of the
beet crop is satisfactory.
Refined.--The country let it's stocks
rtt lou. hot fnr0AI Iny md
started during the week and has kept
up until the close, many grades of re-
fined being now largely oversold. But
for the poor condition of the raw sugar
market an advance in some grades for
this reason might be confidently ex-
pected, but with raw sugars declining
here and in Europe, buyers will prefer
not to take chances and only buy ac
cording to immediate wants. Even on
this basis the demand bids fair to con-
tinue increasing throughout September.
The only notable change in quotations
for the week was a decline OF 1Oc. per
100 lbs. made in San Francisco, a local
matter in further development of the
sugar fight in that territory between
the Spreckels' reflneries and the beet
sugar factories, as explained by us some
weeks ago.
Coffee.--The American visible supply
Is still increasing. 375,UU0 bags Brazilian
having been added to the quantity in
sight during the month of August, and
the total now Is double what it was a
year ago. The worlds visible supply,
September 1st, will not be far short of
$500, 900 bags and will surely exceed
10000 bags lst October; quite re-
markable figure at the end of the first
three months of the crop. when prob
ably not much more than two-ffths
of the Rio and Santos crops will have
been marketed. We naturally ask what
is holding the markets steady in the
face of statistics like these, and all
that we can see is that pull speculation
is trying to sustain which can only be
accomplished by continued buying.
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