The Hawaiian gazette., 1902-03-21
SUGAR


Williams uImund A co.'s snaaf ,if
ruiHf uf Match "a. frUrItfd Uu tH. cope
fIU. contains lHtHfestIng d1fn f.EHfl-
Ius fHr Outs un Philippine sugar aud
Cons r.sIINai discussion un fuH conan
r.. irfmIty issue. rhe circular - az
iuiiuuFi
,,o last has this pleasure on che sth
instant. uaf Alameda.
sugar SO chang have since occur
rcd lu the local marhet ur Tor export
10 Honolulu, prices established On ~
slant. sim being in force. We quote
dry graduated for local consumption,
Csc. and for export. g..
BASIS March Sth. no sales. 10Th. spot
sale. 1900 tons at 8kc. 1ith. 10 arrive
sale. 2.i00 tons at Shc, since which
no sales advised. establishing basis Tor
g5-degroe ccntrifugals in New York.
3815c. San Francisco, g.. This quota
ton is the same as prevailed previous
Is from January 18th TO January 2lst
Of this year.
London Bects- March Sth. s. Ga; 10Th.
g. sid. 1lth. o. Cd, l2th, Gs 5hd.
Dry Granulated. New Nurk-No
change.
London Cable-Msrch Sth, quotes
Java No. ~ -. =. IS 81; fair refining,
is 6d, same date last year, lis Cd and
los "a, respectively. March bcets, c.
6d. against IS aid corresponding period
last year. April beets, 6s 1i2d, against
~ I'D same date last year.
Eastern and Foreign Markets-While
the raw sugar market has steady
tone. without any business i'm centrifu-
gals. according to the latest mail I'D
vices from New York under date u tnc
Sth instant, nevertheless IL Is apparent
that the present unfavorable condi-
tens. which may be attributed in
great degree to the increased receipts.
indifference Of buyers, lack Of demand
for refined sugar, due, doubtless in part
to the blocking of traffic in consequence
OF heavy storms, coincident with the
uncertainty existing. as regards the
probable action Of Congress in the
matter OF reduction on cuban sugars,
viii result in "A lower range of prices
in the immediate future. European
markets are fairly steady. but buyers
for account Of the United Kingdom are
Withdrawing their support from the
market since there Is less likelihood Of
duty being increased stocks there haY-
ing reached 222,OOO tons. against $3.50,
tons last year We hear reports Of
opposition to the final legislative steps
necessary to make effective the agree
ment reached by the lnter-Nat.onal Su-
gar Convention, signed at Brussels on
The 9TH instant, but in the event that
the provisions of the agreement are
strictly enforced. the ultimate effect
viii be very great; but since two crop.
are yet to be marketed before the
agreement goes into effect. 1t is likely
that there will be little diminution in
the production of beet sugars prior to
September /, 1908. The result Will
doubtless be apparent in low prices.
Duty on Philippine Sugar-Under the
provisions of the Philippine Tariff Bill
agreed upon in conference at the hands
of "A committee of the House of Repre-
sentatives and Senate, and passed by
both houses OF Congress on the +th In
atant, 20 per cent of the Dingey rates
are assessed on sugar. the growth and
product Of the Philippine archipelago
coming into the United States. less any
export duties paid thereon upon the
shipment from the Islands. Sugar pro-
duced in other countries coming into
the United States from the Philippines
will pay full duty. Foreign vessels are
permitted to engage In trade between
the Philippines and the United States
until July l. 1904.
Cuban Legislation-The fourth con-
ference of the House Republicans, held
18th instant, adjourned until next Tues
| day without any agreement having
| been reached on the reciprocity issue.
! Nevertheless, there are indications that
| compromise regarding Cupa VIII De
reached, Mr.. Sibley. OF Pennsylvania.
| having offered compromise PROPOSE
ton for the reciprocity agreement.
wherein is granted a 20 per cent con-
cession on Cuban sugars. to last until
September. 1903. when the arrangement
agreed upon by the Brussels conference
goes into effect. 1t is stated that this
plan has the approval and endorsement
OF the administration. and since latest
advices indicate that the beet sugar
forces are willing to compromise, there
is a possibility OF an agreement being
shortly reached on the plan Of the Sib-
icy proposition. Meanwhile. Cuba con-
tinues to store her sugars, having 49,
900 tons now in stock. but there are in
dications of increased shipments from
the southern ports. where storage IA
cilities are not as plentiful as on the
north side. How long the present sit
uation will continue is an interesting