The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1902-01-23
SUGAR MARKET DROPS
WEAKNESS IN BOTH RAW AND
REFINED
Williams Dimond & Company Say a
Low Range Of Prices VIII Prevail
Throughout the Coming Campaign.

williams, Dimond & Company's sugar
circular by the Ventura dated January
10 says. Prices in the local market
have declined since December 13, 1901
twenty-five points. A similar reduction
was made for export the last December
oath, quoting Dry Granulated 4.55c for
Arizona Nevada, Alaska, Idaho, Utah
Wyoming, New Mexico, Montana and
Hawaiian Territory.
Basis: December 14th to 18TH no
sales 20th, mot reported till 23rd) spot
sale 1900 tons at 3.11-16c; 21st mot re-
ported till 23rd) spot sale 1000 tons at
3 66c; 23rd to 26th no sales 9th Ito
arrive" sale $50 tons at 3.5-Sc; 2Sth to
January 9th, no sales; 7th, spot sale
HOO tons at 39-16i Sth to 14th, no sales
18th spot sale 1000 tons at 3.3-S, estab-
fishing basis for So Centrifugals in
New York this date, 3,375c, San fran
cisco &c.
THE raw sugar market has suffered
successive reductions in price through
out the period now in review. Buyers
are withdrawn for the most part from
the market. and weakness is manifest,
a dull tone prevailing at the close, ac-
cOrding to latest mail advices from
New York under date of the 10th inst.
In Europe likewise the decline in Beets
while prOpOrtionately not SO great as
in cane sugars in this country has
nevertheless continued eliminating in
the present low price of 6.4l2
The new year opened with tremen-
dous quantity of surplus sugar in sight
for its consumption and prices are
necessarily depressed in consequence.
Mr. LIGHT has again raised his estimate
of the European Beet sugar production
to 67lO0OO tons, and it is even thought
in some quarters that these figures in
all probability will again be enlarged.
RRnDTfe "a ra n
tive of large supplies, and it appears
probable from the information now at
hand, that a low range Of prices win
prevail throughout the coming cam
paign, the situation being complicated
however by the uncertainty as regards
the course which Congressional Legis-
latlOn affecting Cuban interests may
take. Latest reports reveal the possi-
bility of reduction in duties on Cuban
sugar of say, 25 per cent, and we learn
that the Ways and Means Committee of
the United States Senate has already
commenced to devote its time to hear
tngs on the question of Cuban recip-
rOctty. AdVices from there are to the
effect that seventy-four sugar estates
are at work against seventy-one at this
time last year but shipments have so
far been incOnsiderable planters pre-
ferring to await further develop
ments in connection with preferential
duties, the accumulation of sugar ap-
parently not having been sufficient as
yet to accentuate the desire to effect
sales. In contrast however to the pre-
sent inactivity on the part of holders
Of Cuban sugar must be observed the
anxiety of sellers of sugar from other
countries to accept the existing ruin
ously low prices, rather than hold back
| their sugars for a time, because 1t is
feared that Cuba on obtaining a reduc-
tiOn, Will sell sugars in this country
even at lower parity than the present
duty paid quotations. In Europe inter-
est is centered on the conference at
Brussels held with a view to the abo-
lition Of bounties, but it appears that a
solution of the problem is a long way
off, the question at issue being com
plicated by the operations of the Kar-
tell in Austria and Germany.
In spite of reductions in price, re-
fined was in limited demand, until after
the first of the year, when the demand
grew more brisk for a time, but latter
ly has slackened somewhat until now
quietness prevails"
NEW YORK, January 16.-Sugar-
Raw, nominal weak Fair Refining.
? Use, Centrifugal, 9G test, 3 3-S Mo,
| lasses Sugar, 5-Sc. Refined was duU