The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-02-07
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SUGAR
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Writing TO their local correspondents,
under date of January s0th. Williams,
Dimond & Co. Of San Francisco. say of
the sugar market:
Sugar-No changes have occurred in
the local market or fer export to Homo
lulu, prices established Dew. "a still be-
ing in force.
Basis-Jan. Is. no sales; 9th, ito ar
rive SALE 2500 tons at 11-16c, and on
same date cost and freight sale 1000 tons
at 3.70c; 18th, cost and freight
sale 500 tons at 3.7ec; 18th.
spot sale go tons at 11-1ec, and on same
date cost and freight sale 800 tons at
3. zoe. establishing basis for sc per cent.
Centrifugals in New York 29th inst, of
S.6sic San Francisco 3.319c.
New York Refined-No change. quota
ton of 4.60c equivalent to 4.5lc net cash.
established BIRD inst. still prevailing.
London Beets-Jan s. Is sgd; 9th, 6s
714d; Is, Is Cd; 29th 6s sgd.
London Cable-Jan. 20 quotes Java No.
10 D. S. IS Sd, fair refining rs Sd; same
date last year. lis Sd and los Cd, respect
lively February beets, 6s SID, against 9s
11ad corresponding period last year
EASTERN AND FOREIGN MARKETS.
The disposition on the part of owners
of Cuban Sugars to withhold new crop
offerings pending legislative develop
mentS at Washington, continues. and this
fact in conjunction with the lack of
available supplies of other cane sugars,
has developed a firmer feeling in the
raw sugar market. 1t would appear that
refiners have less supplies on hand than
was thought to be the case, and they
have been obliged to enter the market
freely, the result being manifest in the
frmness now displayed. Later on, how
ever, holders of Cuban Sugars will be-
come anxious to market their supplies.
which are augmenting rapidly, and it
would not be surprising to see the mar
ket depressed in consequence. In Cuba
the number of plantations grinding is 139
against rs last year. The prospects for
Congressional action favorable to a sub
stantial reduction in duties on Cuban
sugars appear to be less encouraging.
advices indicating that the Ways and
Means Committee of Congress will sub
NIT report opposing such reduction, the
testimony of those favoring the beet SUI
gar interests in this country, aided by
the representations of the Louisiana
planters. having apparently exerted great
influence. Whatever the outcome it
would seem that it would be impossible
for Cuban planters to retard the move
ment of their sugars much longer.
European markets are firm and higher
in spite of the statistical position Mr..
LIGHT having made his third increase in
his estimates of the beet crop. which ne
now places at 6.S0OoO0 tons Refined has
been in moderate demand, but neverthe- |
less prices were advanced ten points 23rd
inst, coincident with the improvement
IN Raws
LATEST STATISTICAL POSITION.
Willett & Gray report Jan. 23rd, u s. |
four ports in all hands, estimated Jan. |
22nd, 49, 07 tons against 86.2S7 tons same |
date last year. Six ports Cuba estimated |
Jan. 2lst, 5000 tons against "a, 566 tons |
period last year. Total |
stock in all principal countries by cable !
Jan. 23rd, at latest uneven dates, 3.449. POT /
tons, against 1850 562 tons; increase over !
last year. 743.202 tons.
To another house, under date OF New |
York January 24th, the correspondents !
say the better feeling comes from the .
holding back of Cuban sugars, owing to |
the fact that the plantations in the ISL |
very soon. The opinion in the United |
States is said to be growing against such |
and the result is that there |
may be some sales of Cuban sugar very |
soon now.
Cuban stocks are reported to have |
grown during three weeks of January |
rom 10000 to 76 900 tons The firm states, |
however. that there is a growing feeling |
Of optimism in the East, and there seems |
% be no reason why there should not be |
material increases in values.