The Hawaiian gazette., 1902-04-18

FAN fNANDtfrN. ArfN 9 dlsa
patch from Nrw NHfh says WE in
co., rlft vesk there has ben a dfcId a
improvement in The situation ol th.
sufHr market ucnnefr have b rnns
free buyers - raw sugar and me- tues
have found only moderate ~ rNtt.
price, have steAi1, advanced closing
with buyer. 81 a. fof cUrtflfurHls q
degrees tDat. 90 ON Improvement - tiC
90 mound from the low record prices
ruling early in the month
Among many ~ the trade the Inn
precision prevails that tn rtc.Ht tN-
trcncly low price ~ stc duty paid Tor
certfifuGuis PC degrees test. or alb at
csc Tor de-. figuring On cost and
freight basis fully scuuuted tie
weakness ~ the statistical position re-
sulting from the over production OF
beet sugar, especially as ~ carried val
ues for sugar down Co point which
Was below the cost OF production and
also naturally had a tendency to check
planters from making shipments. The
Improvement OF the past ten days. how
ever. II IL expected will bring out in
creased offerings, especially as IL 10 un-
derstood that England has decided not
to put preferential duties on cane SUI
gar from her colonies. and this sugar.
which 1t wa. thought might possibly
go almost exclusively to the United
Kingdom, will be marketed to con-
siderable extent with local refners.
Advices received from Cuba during
the week showed a falling OF in the
receipts at the seaports, and also re-
ported the hrst decrease for the sea-
son in the number OF centrals grinding.
Many of the trade also are changing
their ideas OF the size of the present
Cuban crop. the early estimate of a
yield OF 100000 tons being considered
excessive, and some are now figuring
that the crop will be in the neighbor-
hood OF 700.0 900 tons. Reports also have
been received saying that spring plant
ings are not showing the increase ex-
pected. due to the unfavorable condi-
tons existing: so that the present out
look is that there will not be the In
crease In the next Cuban crop that was
at one time expected. Stocks OF sugar
in Cuba are large, latest advices plac-
ing them at 351, 900 tons; this supply
OF sugar, however. Is not expected to
come on the market until after a reci-
Drocity treaty with Cuba has been put
into operation: and this period it is ex-
pected will not be reached until the
active season for refined will have been
reached. when reiiners viii be ready
buyers of all supplies OF raw sugar that
Will come on offer. A limited amount
of sugar is being shipped from the
south side of Cuba. where II is impos-
sible to carry additional supplies ow-
ing to the lack of adequate storage ia
cilities. Such supplies, however. as
hay. come on offer have been quickly
taken by retiners at fun values.
Another factor that is having a ia
vorable influence upon the market Is
the reports coming from Europe of the
probable decrease in sugar beet SOW
ing for the 1902 crop. CZarnikow, Mac
Dougall & Co. say that on the 22d inst.
Mr.. LIGHT intimated that he estimated
there would be o reduction of from 90
per cent to 30 per cent in the sowings
in Holland, Belgium, and France. This
would be equivalent to a diminution of
from 100000 to 525, 900 tons in the sugar
production of those countries. AS to
the sowing OF Germany and Austria,
Mr.. LIGHT has not yet made any esti-
mate. but there is no doubt that the
low prices which have been effective in
reducing sowings in Belgium, Holland
and France will have some influence on
the sowings of Germany and Austri
also. although probably to much
smaller percentage of reduction than
in the other countries named. New
crop Javas for June-July shipment can
now be obtained at IS to So Sd c. T.. but
sugars for August-September arrival
are too far off to attract buyers. espe-
cially when the prices are above the
equivalent of those ruling here. Egyp-
tian crystals of present crop are accu-
mulating at Alexandria, and holders
are showing more inclination to sell
It is reported that tonnage has been
engaged for one cargo, but indications
are that this is cargo bought on spec
ulation, as it is believed that refiners
have not yet done anything in the
Egyptian market.
Business in the refined market has
been active. During the past few
months the trade almost to a man has
been holding off waiting for prices to
decline to point which they consider
low enough to warrant purchases of
an investment character. As a result
of this policy of procrastination the
sudden advance in prices made by the
refiners two weeks ago. caught the
trade wholly unprepared for an upturn
to the market. Fortunately, however,
refiners did not put the advance in
prices into effect, and with many of
the trade taking alarm at the sudden
turn to the market, orders for a fairly
large quantity of sugar were placed.
With the opening Of the present week,
however, demand again fell of, but
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