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



Maru, the first since October 10. II
quotes dry graduated for Alaska ana
Hawaii at 4.gO cents. OF the raw sugar
market and conditions the circular
says:
Basis.-October 10th to gath, no sales;
26th, cost and freight sale, 100 tons AT
3.S8c.; 9th to November 9thFno sales;
10th, "To Arrive sale, 1000 tons at
313-15c. 18th and 18th, no sales 18TH
Spot sale, $50 tons, at 3Ac.; l4th to 18TH
no sales; goth, Spot sale, 1000 tons, at
3Ac. 2lst to Goth, no sales; December
LIST, cost and freight sale, 1900 tons, at
| 3.695c, establishing basis FOR 20 deg.
Centrifugals in New York on that date,
3.695c.; san Francisco, 3.32c
| New ork Rehned.-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 were 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 i'm Net values NO
vember oath, however, quotations de-
cined ten points, establishing price
of 445c., less five points and 1 per cent
for Cash, equivalent to 4.36c. Net Cash.
Since that date no further change has
been advised
| London Cable-Nov. 25th quotes Ja-
va. No Is ID. 5. 9s. Cd; Fair Refining,
! IS. 3D.; same date last year 9s. Sd. and
! SIS. 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 49,
! 154 tons same date last year. Six ports
| Cuba estimated Nov. 18th, $4,000 tons
! against 1926 tons corresponding period
last year. United Kingdom estimated
! Nov 18th 10000 tons against 1880
tons same date in 1902. Total stocks in
all the principal countries by cable
Nov. 10Th, at latest uneven dates, 3
O7O, 635 tons against 2,O21 400 tons; in
| crease from last year 49.226 tons. Su-
Il gar Crops of the World-TOtal Cane
Sugar production CIV. 6, Go, 4,3SS,SOO
TONS European Beet Sugar production
1 OichD, 5,S5O,0OO tons; United States
Beet Sugar production w. & Ga. 233.-
OGO tons grand total cane and beet SUI
gar. 1O471 SEQ tons against g,S29,96l
tons Campaign 1923. Established in
crease in the Worlds production, 64l.-
500 tons.
Eastern and Foreign Markets.-The
u strong ullttilOle, visible III lllt nav
Sugar Market throughout the earlier
portion Of the period under review, was
| of short duration and for a time abso-
Lutte stagnation prevailed, Refiners
evincing 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 ana sales
have been consummated 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
n reduction of 20 per cent in the dutie
on Cuban sugars imported into thi
country. The bill passed the House o
|
jority, and the feeling is general tina
the Senate, in spite OF the fact that tn
$ real fight over the bill has been preci
pitated there, will ratify the measure
an agreement having been concluded I
lie take vote on December 10th. Should
bill pass, ten days will elapse befor
the Cuban treaty can become effective
. Meanwhile, a considerable propOrtio
of the supplies of raw sugar now i
store in this country We're shippe
- from Cuba and they are held bac
y awaiting the period when the treat
d will be legalized, the holders thereo
apparently clinging renaciously to tn
idea that in the event of Reciprocit
being granted they viii be permitted |
withdraw their sugars from bonds b
paying so per cent of present duties.
forecast of the statistical position {
sugars in Cuba and elsewhere, durin
7: the period when the pressure of ne
crop Cubas is greatest, inclnes to tn
belief that holders will shortly diss
pate the slight advantage which woul
III properly accrue to them as a result
a. the reduction in duties, while, on II
is, other hand a serious loss threaten
the holders of sugars in other car
producing countries, in the event thi
e. Cuba receives reciprocity.
a dull and quiet market for Eur,
pean beets has generally prevaile
since our last circular factories abroa
having adopted the policy of storir
their beets to an unusual degree, pr
"A ferring to do this rather than sell
prices such as are now ruling, whiC
do not cover cost. Old crop Bounty f,
sugar, still on the Market is accredi
ed with existing depression. Climat
conditions have likewise exerted COZ
siderable influence on the trend of Il
market, and Mr.. LIGHTS latest estima
of the European beet sugar productiC
: amounts to 5,S50,OOO tons, showing
slight increase over the figures of Ii
previous campaign
AnTnTTIl NTL'T1 u,nNENr AIlrI,u,TNrg