The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-03-09
SUGAR MARKET
AND THE OUTLOOK

The outlook in the sugar market is
for higher prices rather than lower
ones. though the Cuban holders are
anxiously awaiting the passage Of the
Reciprocity treaty that they may mar
ket their stocks. The wiIlett & Gray
circular for February 18th says of the
market during the week. then closing:
Raws advanced 1-1Sc. Refined adj
vanced .O5. Net cash quotations this
date are: Muscovados. s.25c.; Centrifu-
gals, s.75c.; GRADUATED. 4.52-55-.61c.
Receipts. ss.1O5 tons. Meetings., 20. 600
tons. Total Stock in Four Ports, 14o,-
2sO tons, against 127.1S5 tons last week,
and s9.2Ss tons last year. Beet sugar
quotations. f. o. b. Hamburg. SIS. Ilzd.
per cwt. for IS deg. analysis, equal to
S.97c. for Sc deg. test Centrifugals at
New York, First Marks German Gran
ulated f, o. b. Hamburg. IS. sgd, equal
TO 4.51c. New York, duty paid.
Estimated afioats to the United
States from Cuba and West Indies. 20,-
600 tons: Javas. $4,000 tons; Hawaii,
$4,000 tons: Europe. 1000 tons; Peru.
etc. $4,000 tons; total. l27.000 tons.
against 10000 tons last year.
Statistics by Special Cables.-Cuba.-
The six principal ports. Receipts, 49,
600 tons; exports. $500; stock, 175.O00
tons, against 205,s2 tons last year. One
hundred and fifty-five centrals grind
ing, against 156 last year.
Europe.-stock in Europe. 2.sss,OOO
tons, against s.2O2.S55 tons last year.
Total stocks of Europe and America,
1925, 29O tons, against 3,49l, 22O tons last
year at the same uneven dates and 81
512, 595 tons at the even date of Jan.
1st. 1903. The decrease of stock is 1922
$50 tons, against decrease of 14S,3s0
tons last week. and a decrease of 126,192
tons January 1st, 1908.
Raws.-The frmness noted IN the raw
sugar market last week has continued
throughout the week under review, re-
sulting in a further advance of Lice.
per Ib., TO 3s4c. duty paid, under trans
actions to a large extent during some
days The market continued firm up to
the close, on this basis, although there
is rather more disposition on the part
rather than for spot delivery. This IS
perhaps because the receipts for the
week having increased to 80, 105 tons,
against $50 tons during the proceed
ing week, while the MEETINGS increas-
ed only from 10000 tons to 10000 tons
for the week. The news from Wash
ington is such that it is now quite like
ly that the reciprocity bill with Cuba
will pass the Senate before calling an
extra session and this expectation is
influencing the market in two ways, or
rather three ways. The refiners having
increased their Immediate supplies, are
less disposed to pay SIC. for spot Cen
trifugals, but are willing to pay full
cost and freight prices for shipment.
On the other hand the Cuban planter
is stimulated to hold his sugars on the
treaty prospect and to ask even higher
prices on the cost and freight basis,
willing to sell his near by car
goes at the current quotations duty
paid Thus, while we can look for no
further duty paid advance, for the pres
ent, we can confidently expect an in
creased cost and freight value directly
ahead. This will inure to the benefit CT
the planters, inasmuch as their sales
this season for future delivery have
been comparatively small, so that
whatever benefit comes from a reduc-
tio7 in duty is very sure to go into
their Lockets. This will go far to put
our neighboring Republic on a firm
financial basis in another II mC1ths.
The fact that the United States mar
kets are now nearly &c. per pound low
er than the European markets is
sufficient guarantee against any very
material decline, as already mentioned
by us last week. the markets of the
United Kingdom being open to receive
supplies from the British West Indies
at any greater difference in price.