Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1904-09-15
WILLET { GRAY REPORT
ON GENERAL CONDITIONS
SMALL HOPE THAT EUROPEAN
BEET CROP WILL RECOVER.
r. o. LIGHTS AUGUST
REPORT.

marks the close Of an eventful month
in the sugar trade. The month Of Au
gust opened with quotations for Cen.
trfugals on the basis Of 4c., followed
by great activity and a steady advance
until the price of slice. was reached.
showing a gain for sellers Of 5.l6c. per
pound.
This week also closes the first cam.
paign year. since the European sugar
bounties were abolished. The opening
and closing quotations this campaign
were respectively IS. sad. and los.
9a,d.. {. O. h.. Hamburg. for beet su.
CARS, and 3hsc. and 5.l6c. at New
York Tor cane Centrfugals. The rise
in prices has proven Of special benefit
! to the cane sugar industry which sui.
| fercd greatly while the bounty laws
were in force.
Locally. the market has been apa.
thetic for a fortnight, after the heavy
business done early in tho month. but
buyers are again showing more inter,
est in offerings and have accepted
Muscovados, nearby, at 3aic. for 81
| test, and Cuba Centriiugals, for ship
ment, at l5.l6c.. e. and T., basis %
test, equal to u shade more than j.16c.
landed. for SO test. A cargo OF lloilo
sugars, In store. was also placed on
private terms. Only few nearby SUI
gars are now unsold and held at higher
prices. Offerings include beet for
shipment at lis. Sd. G. and T., parity OF
4.2Sc., landed. for 96' test Centrifugals,
and Javas shipped early July at i2s.
c. |. T.. equal to 4 5.i6c.. landed. for 90
| test August shipment at lis, Cd, e. |.
{. Hi.c.), and September shipment at
lis. Cd. c. I. I. "A 3.l6c.). Late today
a sale is reported Of one cargo OF ia
vas, sailed late August. at lis. I'd
G. |. (.
Receipts for the week were nearly
sufficient for requirements for melt
ings. and indications point to iull re.
ceipts next week. Very little sugar Is
now left in Cuba and refiners must de-
pend for. some time, principally upon
arrivals from Java, Hawaii and Europe
, 10 Keep them supplied.
Requirements for the next two
months will be large and prices should
remain firm throughout that period.
and In view of the strength OF the gen
eral situation. a high level OF prices
should continue for longer time, un
less planters become over anxious IA
dispose of their new crops.
The crops OF Louisiana and Cuba are
in very promising condition and will
doubtless begin to be harvested early
Some offerings of new Louisiana su
| gars have been made at Lice. Ia
4isc. for 9G' test, November delivery
at New York, without apparent result
thus far. New crop Cuba sugars have
not been offered this week.
European markets have shown in
creased strength. with q net gain OF
q, s. In prices for the week, on further
adverse reports concerning the beet
crops. Mr.. +. o. Licht has cabled us
thar there is no change in the unfavor
able situation and our special cable
gram IRON London today reads: "Eu
ropean beet crops suffering from con
tinued drought. Experts consider
there is but small prospects OF the
crops regaining what Is lost" which
confirms the views previously express
ed by us.
| Estimates by some authorities In Eu
rope Of the deficiency In the beet crop
out-turn, as compared with last year
range from 200, 900. to 500, 900 tons. but
Mr.. +. o. LIGHT has not yet published
any estimate of the total production
Enough Is known OF the crop damage
however, to Justify the present prices,
and even a higher level may be ex
pected In order to restrict consumption
within the bounds of the very limited
supplies which will be available next
year.
EUROPEAN BEET CROP. - Mr.. +.
o. LIGHT in his Monthly Report dated
Magdeburg. August Goth. 1904, says:
Germany.-The weather In the past
MOI in consequence Of the slight
cloudiness, higher temperature, and
the almost entire absence OF precipita.
tions worth mentioning, deviated in
many respects from the appearance OF
normal years, the thermometer re-
NAMED In the first third near respect
lively under the July average. so II sur
passed on the middle and end OF the
month In an unusual manner and show
ed temperature seldom TO be found
in middle Europe. Corresponding to