The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1902-07-08

tine refined product brought about an
indisposition on the part of buyers TO
swell stocks but upon the resumption
of business after the holiday season in
May greater activity was displayed,
followed closely by a renewal of inter-
est in raws. The firmness resulting
therefrom has been fairly well main
tanned until laterly the demand for re-
fined again weakening, a dull market
for raws succeeded with tone and ten
dency in favor of buyers, according
to latest mail advices from New York
under date of 2lst inst Telegraphic
advCes since received indicate a down
ward tendency brought about i'm large
measure i'm all probability by the an
Xiety holders of Cuban sugar display
to press sales, seeing that the hope of
Congressional relief from Washington
during the remainder of the present
session in the light of recent develop
ments has been practically abandoned.
In spite of the efforts of the Admins
tration eliminating in a special mess
sage to Congress by President Roose-
welt, the campaign of the Senators
favoring the beet sugar interests has
apparently been crowned with success,
their position having been strengthen
ed by the testimony bought forward
during the progress of the investlga-
tons of the Senate committee on Gu
ban relations.
I'm connection with the pre- sent sta
tistical position of sugar in Cuba, it is
to be noted that out of the $4,000 tons
which appear in the returns of stocks
in the six principal ports of Cuba fully
40, 600 tons may be considered as COW
cred by the shipments now being made
and the sugars held by American re-
tiners leaving a balance of say $50, 600
tons yet to be disposed of after allow
ance is made for the needs of con-
sumption in the Islands estimated at
80 600 tons.
"A gradual subsistence in the price
of European beets-a condition which
has undoubtedly reacted unfavorably
upon the sugar situation elsewhere
has occurred throughout the period
under consideration with the exception
of a slight hardening tendency visible
for a brief period uIsn receipt of fav-
orable tidings from Berlin shadow
ing the ratification by the German
Reichstag of the conclusion of the
Brussels convention. The adoption of
legislation Dy Germany modifying the
iniquitOus bounty system now in vogue
will go a great way towards securing
the legislative assent Of other interest
ed countries, and the ultimate effect
will be extremely beneficial, for while
considerable reduction in sOwings is
probable on the one hand, 1t is likely
on the other hand that the consump-
ton in Europe itself will increase
greatly where at the present time I'M
der the operations of the bounty sys-
tenn the tendency is in the direction Of
limitation of home consumption.
JAVA SUGARS: are offered mode
rately in the New York market and the
absence of pressure to sell in cOnjunc-
ton with the engagements of tonnage
would indicate that considerable bust
ness has been done, and doubtless the
Orient has purchased in quite large
quantities, the Indian market affording
a better outlet than formerly since the
passage of the sugar cartel bill, the
operation of which will tend to limit
hereafter the introduction of bounty
fed sugars"