The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1903-12-10
SUGAR


market and conditions the circular
says
Basis.-October 10th to 2ith, no sales;
26th. cost and freight sale, 100 tons AZ
3.SSc. eth to November 9Th, no sales;
| 10TH ITO Arrive" sale, 1000 tons, at
| 3.13-15c.; 18th and 18th, no sales 18th,
| Spot sale, 500 tons, at 3$c. l4th to 18TH /
no sales; goth, Spot sale, 1900 tons, at
| 3%c.; 2lst to 3Oth no sales; December 3
1st cost and freight sale, 1900 tons, at
3.695c., establishing basis for So deg.
! Centrifugals in New York on that date, .
3.695c; San Francisco, 3.32c
New York Refined.-Prices establish
ed October 9TH continued in force until
November 5th, on which day a decline
of five points occurred on November
23rd list prices We're marked down to
conform to a change in selling terms
announced by the American Sugar Re
! fning Company on that date, although
no change was made in Net values No
vember oath, however,, quotations de-
clined ten points, establishing price
of 4.45c., less five points and l per cent
for Cash, equivalent to 4.36c Net Cash.
Since that date no further change has
been advised.
London Cable.-Nov. 25th quotes ia
va. No. Is d. S. 9s. Cd; Fair Refining,
IS. 3D. same date last year IS. Sd. and
IS. Cd. respectively. December Beets
IS. sgd against is. 9&d. corresponding
period last year.
Latest Statistical Position.-Willet &
Gray report Nov. 18th by cable United
| States four ports in all hands estimat-
ed Nov. 18th, 102, 635 tons against 1S3,-
154 tons same date last year. Six ports
Cuba estimated Nov. 18th, $4,000 tons
against 1925 tons corresponding period
last year. United Kingdom estimated
Nov. 14th, 10000 tons against 1880
tons same date in 1902. Total stocks in
all the principal countries by cable
Nov. 10Th, at latest uneven dates g.
O7O 635 tons. against 2,021, 400 tons; in
crease from last year 1926 tons. SUI
gar Crops of the World-Total Cane
Sugar production CIV. & ca, 4,3SS,SOO
tons; European Beet Sugar production
Licht), 5,S50,000 tons; United States
Beet Sugar production CIV. & G). 233-
OO0 tons: grand total cane and beet SUI
gar, 1O,471.SOO tons against 9,S29,96l
tons Campaign 1923. Established in
crease in the Worlds production, 641.-
1 S39 tons.
Eastern and Foreign Markets.-The
strong undertone, visible in the Raw
Sugar Market throughout the earlier
| portion of the period under review, was
4 "
I lutte stagnation prevailed, Refiners
: evincng the utmost Indifference in the
face of lessened requirements owing to
the small demand for the Refined pro-
duct and the uncertainty arising in con-
nection with legislative developments
! affecting Cuba.
Latterly, however, Refners again en-
tering the market, a certain amount OF
activity has been displayed and sales
have been contaminated at reduced
figures in sufficient quantity to secure
the immediate wants of buyers, while
the market closes quiet and steady
according to latest mail advices from
New York under date Of November
25th. 1903
The attention of the trade has beer
in large measure centered during The
past month in the fate of the Cubar
Reciprocity Bill at the hands of Con
gress, called into Extra Session No
vember 9th by the President for the eX
press purpose of making final DISPOSE
ton of the measure, providing for {
ID reduction of 20 per cent in the dutie:
on Cuban sugars imported INFO thi
country. The bill passed the House o
al Representatives Nov. 18th by a big ma
jority, and the feeling is general tina
- the Senate, in spite of the fact that thu
$ real fight over the bill has been preci
plated there, will ratify the measure
an agreement having been concluded t,
lie take a vote on December 10th. ShoulC
bill pass, ten days will elapse befor
the Cuban treaty can become effective
- Meanwhile, a considerable proportion
of the supplies of raw sugar now il
store in this country We're shippet
= from Cuba and they are held bacl
y awaiting the period when the treat
- will be legalized, the holders thereo
apparently clinging tenaciously to tn
idea that in the event of Reciprocit
being granted they will be permitted t
withdraw their sugars from bonds b
paying so per cent of present duties.
forecast of the statistical position G
sugars in Cuba and elsewhere, durin
Y: the period when the pressure of ne'
crop Cubas is greatest, inclines to til
belief that holders will shortly diss
pate the slight advantage which woul
III properly accrue to them as a result {
Al, the reduction in duties, while, on tn
is, other hand serious loss threaten
the holders of sugars in other car
producing countries, in the event thu
e. Cuba receives reciprocity
A dull and quiet market for Euro
pean beets has generally prevaie
since our last circular, factories abroa
having adopted the policy of STORM
their beets to an unusual degree, pre-
!. ferring to do this rather than sell
prices such as are now ruling, whiC
do not cover cost. Old crop Bounty fe
sugar, still on the market, is accred
ed with existing depression. Climat
conditions have likewise eXerted COZ
siderable influence on the trend of II
market, and Mr.. LIGHTS latest estima
of the European beet sugar productiC
amounts to 5,S5O,OOO tons, showing
slight increase over the figures of Il
previous campaign