The Hawaiian gazette., 1904-05-24
THE SUGAR SITUATION.

"The general view | take of affairs
in the islands is, that after the inila-
ton of values three or four years ago.
a reaction has set in which carried
things further than was justified con-
tinued Mr.. Pollitz.
Il believe the reaction has brought
values far down below the intrinsic
worth of stocks, and has in it's results
been more acute than was the imitation
on the other side. Now things are
coming to their natural level
THE LEAF HOPPER.
"The leaf hopper I understand has
done a great deal of damage, but from
what have seen and heard and from
our own manager believe the pest has
run its course. Its progress has mt
least been checked and the greatest
danger seems to have passed.
RETRENCHMENT POLICY.
81 found very healthy spirit here
in the way of retrenchments to take
place. The agents and boards of di-
rcctors seem to agree in their opinion
that the low price of sugar neces.itates
the most urgent economy and they
have started i'm to prune expenses as
much as possible.
FIGHTING THE TRUST.
"The sugar factors / see are to act as
a unit hereafter in making contracts
for the joint sale of the product of the
islands. This I believe is n right step
to be taken. j believe it is absolutely
necessary for plantations to emancipate
themselves from the expressions of the
sugar trust and the sooner the question
is taken up with the ultimate result
of marketing our product in a refined
state, the better II will be for all con-
cerned. This of course would carry
us much further than | would care to
talk about at present, as n question
of this kind involving as it does the
interests of the whole islands can hard
ly be discussed in an offhand way.
But the fact that the sugar factors
are for once unanimous In opinion and
in the determination to protect them
selves. is sufficient to make us look
for favorable solution of the problem.
A GRATIFYING OUTLOOK.
THE outlook for raw sugar is decided
ly gratifying. Raw sugar has been ad
vancing steadily and it is now quoted
at pretty near a parity with the Eu-
ropean markets. The Cuban crop is
reported short about 100000 tons. The
sowings and paintings in Europe have
fallen off considerably and this year we
will certainly have the result of seeing
the whole surplus, the sugar OF the
world, which has been laying on us
with Il heavy hand for years eaten up,
SO the opening campaign of the season
will find the world without a surplus
to reckon with. The consumption of
sugar is increasing at quite an uneX
pected rate, while on the other hand
the production is not keeping step with
it. AS incident of this | might mention
that during the first sixty days follow
ing the abolition of bounties the in
crease in the consumption of sugar in
France and Germany amounted to 276.- |
600 tons. This of course is an enormous
increase and certainly could not be con- |
sidered normal. We must consider that
sixty days prior to the abolition of the !
bountles, the people handling sugar, |
the abolition of the boun-
ties, had been sailing close to the wind
in their demands, and We're simply buy
ing from hand to mouth.
I'VE have received an average five |
I'VE have received on an average five |
parity for our sugar"
why is that" Mr.. POLITE was asked. |
you had better inquire of the sugar
trust" was the reply.
SUGAR AT FOUR CENTS. I
Last year 1 predicted four cent su-
gar in year" continued Mr.. Pollitz,
and the last sale reported was at 3.95.
| believe sugar will do a little better
still. In view of the facts [ have given
and the statistics which | have been
and gathering for years / am
led to believe that n fair average for
the crop of 1904-5 Will not be less than
four cents. The people on the coast
are very hopeful of seeing Hawaiian
securities, which for a time had been
extremely popular, on a dividend pay
ing basis