The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-10-23
Hackfeld Returned
From Europe
Yesterday.
STUDIED SUGAR
PROSPECTS THERE
Says That Many Thing. Tend
Toward Better Prices for
Sugar Soon.

81 believe that the prospects for bet
ter prices for sugar are very encour-
aging, and that Hawaii may soon
again see return of its former prosper
ity," said ]. F. Eackfeld to the Adyer
tiser after arriving by the Steamer ST.
ezra yesterday. Mr.. Hackfeld has been
away from the islands for about six
months, and during his stay in Ger
many he made careful study of con-
ditions which affect the sugar market
with the result that he returns jubi-
liant over the prospects of island pros
perity. Mr.. Hackfeld is in the best of
health and spirits.
During my absence he said, 81
have given good deal of thought to
the sugar situation and believe that
the worst commercial depression ever
experienced by Hawaii is now passed,
and that we may look forward to bet
ter prices for sugar in the near future.
"The weather." said Mr.. Hackfeld, in
speaking of the situation in Germany,
has been very cold and disagreeable
there and in other parts of Europe,
whereby the growth of beets has been
much retarded. From reports received
by me, learn that the weather has
shown no Improvement during Septem-
Der and October, consequently Mr..
LIGHT, the well-known sugar expert of
Magdeburg, has estimated the short
age of the present beet crop in Europe,
against last year, from 100000 tons
to 1900, 900 tons, with the probability
that the shortage will be nearer the
latter amount. Any shortage over
1,000,000 tons will go to reduce the
surplus of last year of about 100000
tons, and considering the constantly
increasing consumption of sugar. it
will be seen that the sugar market has
every prospect of getting back to nor
NAL conditions very soon.'
"The present conditions are clearly
demonstrated" continued Mr.. Hack
I'D, 'Hby the quotations for beet sugar
in the London market during the past
four weeks. On the 18th of September
beets were quoted at 6s; on September
IL, IS 1l5d; September 20, 6s Sd; Sep
tember %, IS 2Ad; September %, 6s
Sd; September %, IS 41sd; September
26, 6s Sd; September 20, 6s Az d; 0c-
toher 2. 6s 41sd; October 3. is 2Ad;
October 4, rs; October Z to 10, rs 11ad;
October 16, Is Sd. You will notice by
these figures that beets rose on one
day, on October 3, from IS 41ad to
7s 21zd, and that the price has steadily
kept up, rising on October 16, when the
steamer Sierra left San Francisco, to
rs Sd, which is equal to about 5 $40
cents per pound for SO degrees in New
York
"As the American Sugar Refining
Company has lately been in receipt of
large shipments OF sugar, previously
purchased, it did not need to buy any
sugar in the New York market; thus
the basis for our sugars has remained
at 4.4375 cents until October Il. when
sale was made at 31s cents. AS the
holders of sugar in New York are ask
ing higher prices, the next sale will no
doubt be made at higher rate.
Another question which has an inn
portant bearing on the future sugar
market is the convention agreed to and
, accepted by the governments of Eng
land, Germany, Austria, France, Italy.
Belgium and the Netherlands, at
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