Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1901-06-26
TRUST DIVIDEND MAKES
STOCK TAKE A DROP
High Price Said to be Stable Quar-
tity- Sugar Situation as
Reviewed by New York
Commercial.

New York, June 4.-President Have
meyer, of the American Sugar Rein
ing Co., today declared the statement
he was about to resign from the presi-
dency has no foundation in fact.
81 intend to remain at the head of the
American Sugar Refining Co.." said he.
II have never given the question Of
resignation any serious thought"
The directors of the American Co.
met today and declared the regular
quarterly dividend of ~ per cent on
the common stock. and IL per cent
on so much of the preferred stock as is
entitled to quarterly dividends.
The advance of points in the stock
yesterday was due to the report that a
quarterly dividend Of . per cent would
he declared, and the action Of the direc-
tors in maintaining the old rate de-
veIoped a selling movement that caused
0 drop from 1917 to 1i6h.
The closing sale was made at 147A. a
net loss Of Az points az compared with
yesterdays final price.
a Wall street news agency came out
today with a statement that Arbuckle
Bros. had made a cut of 10 cents per
100 in all soft sugars. II is understood
this cut was made last Friday. The
statement is made that number Of re-
finers are quietly meeting the cut made
by Arbuckle. and that general re-
duction to $50 before the close Of this
week is more than likely.
In view of the fact that the earnings
OF the sugar refining companies are
larger at present than for years past
shareholders OF the American Co. be-
lieve that larger divid~nd daburse.
ments are justified.
Ii is estimated that a. the price at
which sugar is now selling the Ameri.
can Sugar Refining Co is making @
profit of s1.62 barrel, equivalent to
s4s,60O on its output of 10000 barrels
a day. The following table shows net
! quotations for refined and raw sugars
as compared with corresponding days
of 1900 1899 and 1898:
1901. 1900. 1899. 1893
Granulated :. soc 5.4Oc 5.21c sos
Centrifugal 4.25c 4.625 4.69c 4.29t
Difference -. l.04c .775 .52c .79t
eRgarding the sugar situation Presi
dent Havemeyer said today:
"The sugar trade is in flourishint
Z condition, and am at loss to under
stand why Arbuckle Bros. should re
duce the price. unless they have &C
cumulated a large surplus. When
first went into the sugar refining bust
ness I had to offer sugar at prices he
low current quotations. Now on
brand is the standard. and we have al
the jobbers with us. don't think tina
a small reduction will have mucl
weight with them. .
when the jObbers came to me an,
asked If we were going to cut tn,
price i told them No. and advise,
them to grab up as much sugar at i
cents off as Mr.. Arbuckie wanted I,
sell. That gentleman seems to hav
got tired of s.>ling at such a reduction
and he restored the price.10 cents pc
100 pounds. Business is active and
think the outlook is for better prices.
"As for the coffee situation, 1t is no
true that the Woolson Spice Co. mad
the first reduction. The other peopl
made what amounted to cut. and wa
so construed. We met the concession
with an open cut. The other side re
duced sugar 10 cents In retaliation
but when they found we would nc
meet them on sugar and lose part @