The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-01-23
SUGAR QUOTATIONS.
SHOW 4 DECIDED
FALL IN PRICES
Continued From Page II

der to renew the agreement which, I'M
til December 81, regulated sugar prices
Charles Harris of the firm of Harris
Brothers has an interesting version OF
the present troubles. In an interview
he said: THE fight was directed
against several new firms, who have
made serious inroadS into the business
of some of the older concerns, and as
sugar was a staple article the cut
would be more effective in forcing
losses. While we are selling sugar at
actual cost, much of the stock selling
is speculative holdings which were pur-
chased during November at $3.50 hun
dred With the new sugar arriving
freely indica tons are for a weaker and
lower market, and the present time is
most opportune for working off this
speculative stock. Present supplies OF
sugar are ample to fill the local refin-
cries territory from the coast to the
Missouri, and a decline seems ineyita-
ble.'
At the offices of the refineries prices
show no changes, and the officials are
quoting a steady market at the prices
on the current lists. The jobbers' rates
are s445 for beet and $4.55 for cane SUI
gar, while the refineries' figures are
$40 and $3.50 respectively.
THE CUBAN TARIFF.
WASHINGTON. Jan. 16.-Cuban re-
ciprocity was under consideration to-
day by the Ways and Means Commit
tee, with large representations of Gu
bans and of the various sugar and to-
bacco interests in attendance. A dele
CATION from the New York Produce Elk
change favorable to reciprocity and
several delegations from the beet sugar
growing sections opposed to reciprocity
arrived this morning.
Evan Thomas. ex-President of the
New York Produce Exchange, pre-
scented the views of that organization.
He said that last year 100000 of
American food products went to Cuba,
and refusal to grant a reduction of du-
ties on the imports of the two great
staples of Cuba (sugar and tobacco)
would be ruin to the planters, mer-
chants and laboring classes The re-
suit. he maintained. would be great
falling off in our exports.
TINS committee urges such reduc-
ton in the duties now levied on sugar
and tobacco as win avert this impend-
ing disaster and thereby safeguard the
interests we represent.
REPRESENTATIVE Mcclellan of New
York remarked that there was an evil
dent purpose III some q t-st4 les VI "a 9
udicing the cause of Cuban reciprocity
by creating a public impression that
the trust was behind it, whereas all
the witnesses thus far had shown that
the Cuban cause stood on its own mer-
its.
Charles Rabidan and =. P. Arm
strong of the Produce Exchange also
smoke in favor of reciprocity and were
examined at length by Chairman Payne
and members of the committee.
Louis Place. head of the Cuban dele
cation, was heard as to the tariff re-
auctions Cuba was likely to make in
order to give the United States control
of the market. He said the cuban tar
if was very low now, and should be
raised 80 10 20 per cent and after that
a differential granted to the United
States sufficient to control the trade as
against other countries. He favored
ultimate free trade both ways. which,
he said. was the only solution of Cuba's
commercial problem.