The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-03-20

Williams, Dimond & Co.'S sugar cir
cular of March Is, received on the Cop
tic, contains interesting data regard
ing the duty on Philippine sugar and
Congressional discussion on the Cuban
reciprocity issue. The circular is as
follows:
We last has this pleasure on the Sth
instant, per Alameda.
Sugar-No changes have since occur
red II the local market, or for export
, to Honolulu, prices established 9Th in
slant, still being in force. We quote
dry graduated Tor local consumption,
4. &c, and for export, &c.
Basls-March Sth, no sales; 10th, spot
sale, 200 tons at 3ssc; 18th. to arrive
sale, 2,lO0 tons at 3zsc, since which,
10 sales advised, establishing basis for
96-degree centrifugals in New York.
3.375c; san Francisco, &c. This quota
tion is The same as prevailed previous
ly from January 18th to January 21st,
of this year.
London Beets-March Sth, 6s Cd; 10th,
Gs 5lld; 11th. 6s Cd; 18th, 6s SID.
Dry Granulated, New 3ork-No
change.
London Cable-March Sth, quotes
Java No. IL ID. s.. SIS Cd; fair refining,
as cd; same date last year, lis Cd and
los Sd, respectively. March beets, 6s
Cd, against 9s sd corresponding period
last year. April beets, Is 712d, against
IS Ii5d same date last year.
Eastern and Foreign Markets-While
the raw sugar market has steady
tone, without any business in centrifu-
gals, according to the latest mail adj
vices from New York under date of the
Sth instant, nevertheless it is apparent
that the present unfavorable condi-
lions. which may be attributed in a
great de gree 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 a reduction on Cuban sugars.
will result in a lower range of prices
in sthe 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 hav-
ing reached 222, 900 tons, against S3,692
tons last year. We hear reports OF
opposition to the final legislative steps
necessary to make effective the agree
ment reached by the International SUI
gar Convention, signed at Brussels on
the 5th instant but in the event that
the provisions of the agreement are
strictly enforced, the ultimate effect
will be very great; but since two crops
are yet TO be marketed before the
agreement goes into effect, it is likely
that there will be little diminution in
the production of beet sugars prior to
September l, 1903. 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 4th in
slant, 70 per cent of the Dingley 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 Cuba will be
reached, Mr.. Sibiey, OF Pennsylvania,
having offered u 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. It 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 possibility of an agreement being
shortly reached on the plan of the Sib-
ley proposition. Meanwhile, Cuba con-
tiuues to store her sugars, having 273.-
600 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 VIII continue is an interesting
problem.