The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1902-04-08
SUGAR MARKET.

SUGAR MARKET.
Williams, Dimond Il Co. write Of the
sugar market to local correspondents as
follows:
We last addressed you 2lst inst. per
America Maru."
Sugar-No changes have since occurred
in the local market or for export to Ho-
nolulu, prices established 5th inst. stil
being in force.
Basis-March 2lst 'to arrive sale DO
tons ut 7-lGc and on same date cost and
freight sale 1000 tons at 3.5lc, and again
cost and freight sale 500 tons at 35Oc,
I'D and 24th. no sales; 18th, Ito arrive"
sale 1000 tons Mt l7-32c: Goth ITO ar
rive" sale 1000 tons at 9-l6c. and on
same date cost and freight sale 1000 tons
at 3.6o5c and again ito arrive" sale 800
tons at 5-sc, since which no sales, es
tablishing basis for sc deg. Centrifugals
in New York on that date, 35975c; San
Francisco, 3.2225c.
London Beets-March ?lst 6s 3Ad; 22d,
18th, 6s AID; 18th, IS sid 9th. Ga 7l2d,
New York STANDARDIZATION establish
cd ID inst, 4.60c equivalent to i5lc net
cash continued In force until 2lst inst,
on which day an advance of five points
occurred, establishing price of 4.65c
equivalent to 4.56c net cash Since that
date no further change has occurred.
London Cable-March 24th. quotes Java
No. Is d. s., SIS; Fair Refining, Isl same
date last year, lis Cd and los Cd respec-
lively. April Beets Gs Cd against 9s ut
corresponding period last year.
Eastern and Foreign Mnrkets-Accord-
ing to latest mail advices under date of
2ith inst, the Raw sugar market Is steady
but quiet European markets firm. Esti-
mates from abroad indicate a reduction
in Beet sowings Of from 10 per cent to
10 per cent. Refined is in fair demand.
Gray report Goth inst. L. S. four ports
in all hands, estimated 18th inst, ll9.469
tons against iS5, 7SS tons same date last
year. Six ports Cuba estimated 18th
inst, $4,000 tons against go tons cor
responding period last year. Total stock
in all principal countries by cable March
10th, at latest uneven dates. 3,Ai9,469 tons
against 26l6,569 tons corresponding period
last year, establishing an increase OF
SS2, 900 tons over the figures OF the pre-
yious year.
SUGAR NEWS ABROAD.
Especial to the Advertiser)
SAN FRANCISCO. Mar. ga dispatch
from London says: The Sugar Conven-
ton is for this country the entering up
on new policy. 1t is probably owing
largely TO Mr.. Chamberlain's connection
with the West Indies. as Colonial Secre-
tary, that the British delegates to the
Brussels conference revived powers
which, together with the deficit in the
French exchequer-and the consequent
need which France has of saving the
s4,coo00o that has been paid yearly to
the sugar manufacturers-have brought
about the conclusion of the convention.
The threat that this country might fol-
low the example OF the American Gov
eminent, which has passed a law permit
lng the Executive to impose counter
Vaiiing duties upon sugar from any coun-
Try which gives bounties on export and
OF the Indian Government, which, at Mr..
Chamberlain's wish and to preserve n bet
ter market for Mauritian sugar, has i'm
posed duty on German and Austrian
bounty-fed sugar-such a threat may or
may not have been given directly. In
any case, the Continental nations have
seen that the policy Of this country was
setting rapidly in that direction. This
is what has persuaded Germany and Aus
tria-Hungary to enter into the conven-
ton and France desired pretext for
Withdrawing the bounties so that the ma
uonal revenue might be less drawn upon,
LIMITATION OF "SURTAX."
BY the new convention the contracting
parties agree to abolish bounties, either
direct or indirect and also to limit to
francs per 100 kilos the 'tsurtax" on re-
fined sugars. and TO $50 francs that on
unrefned. The "surtax" is the special
protectionist import duty-that in excess
of any excise duty imposed on sugar
produced within the country. Since Great
Britain adopted free trade policy, 1t has
been the rule, when imposing a customs
duty on imports. to put an equivalent
excise duty on the same class OF arti-
cles produced here. That Is what protec-
ZIONIST countries do not do. The conven-