The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1904-12-21
THE STORY OF THE
SUGAR MARKET
WILLIAMS, DIMOND & co. GIVE
EVERY INDICATION OF CONTIN-
UED UPWARD TENDENCY.

Williams, Dmond & CO., in their SUI
gar market circular dated San Francis
co, December u, received by the Gaelic
yesterday morning, say:
Latest Statistical Position: Willet %
Gray report U. S. ports in all hands,
estimated Nov 30th, 1z9,055 tons against
100, 1897 tons-same date last year. Six
ports Cuba, estimated Nov. Goth, 1850
tons against 122, 900 tons-corresponding
period previous year. United Kingdom
estimated Nov Goth, $4,000 tons against
96, 1853 tons-same date in 1903. Total
stocks in all the principal countries by
cable Dec. list, at latest uneven dates,
/, 569, 3O5 tons against 2,121, $50 tons; de-
crease from last year 551,945 tons. Su-
gar crops of the World,-total cane SUI
gar production CIV. & g. 100000 tons;
European beet sugar production IF. o.
Licht) 4,95OOOO tons; United States SUI
gar production CIV. & g. $4,000 tons;
grand total cane and beet sugar, 9,74S,-
900 tons against 1O,3O5,357 tons previous
campaign estimated decrease in the
Worlds production of 557, 357 tons.
Eastern and Foreign Markets: A
comparatively quiet and featureless
market for Raws both at home and
abroad fairly described existing con-
ditions in the Sugar World at the time
of the publication of our previous Cir
cular but shortly afterwards
strengthening tendency having devel-
oped eliminated in a series of upward
movements of a reasonable character
in this country, but so sharp and pro-
nounced in Europe that the dominating
influence Of speculative tendencies at
once became recognizable. Mr.. P. o.
LIGHT issued an estimate of the Euro
pean beet crop practically confirmatory
of Mr.. Otto LIGHTS figures given in adj
vance showing a reduction to 4,950,000
tons, and this fact taken in conjunction
with other unusual features in the gen.
eral situation has afforded the basis for
a surrender for the time being of the
European markets to the manipula-
tiOns of spectators in the Sugar EX-
changes abroad. Violent fluctuations in
price have resulted from the efforts of
spectators particularly in France, to
secure their profits, and at the close
the tendency is still upward under the
stimulus, no doubt, of further news
| from Mr.. F. O. LIGHT to the effect that
the weather is unfavcrable and a re-
duction in estimates in Germany, Aus
tria, France and Russia is rendered
necessary. Nevertheless it would seem
that the, speculative craze must spend
itself and be followed by a return to
the more healthy condition which have
ruled in this country throughout the
period under review where, in the abb
sence of facilities for such movements
as have taken place in Europe, the
gradual establishment of higher
range of prices has been on a more
| legitimate basis. In fact in sharp con-
trast to the agitation abroad, a gener-
ally tranquil and steady market for
Raws has in this country prevailed,
while the demand has not been partic-
ularly active the principal business, it
appears, having been done i'm Cuba
Centrifugals for January February
shipment at 3 3-Sc. C. & F. SO deg. test
| although sellers have been endeavoring
to obtain Lice more, but buyers are
not disposed to meet their views in
! this regard. The Raw sugar market
! evinces greater frmness at the close,
however according to latest mail ad-
= vices from New York under date of the
! 18th inst
In Cuba it is reported that seventeen
Centrals are now grinding, against
three last week. the increase being
principally i'm factories on the south
side of the Island where the weather
has been favorable for harvesting and
in the light of transactions which have
already TRANSFERRED a general feeling of
| hopefulness is manifest and Cuban
holders maintain a firm attitude.
Demerara Centrifugals are being alb
sorbed rapidly and Canada has been an
| active buyer at full prices.
The price of Refined has undergone
successive advances since our last re-
port, but new business has generally
been light and confined to orders for
prompt shipment to nearby points. The
Withdrawals against contracts continue
fairly good and it is thought that thy
stock in wholesale and retail dealers
hands generally is a full Onc, the sitda-
tion presenting no features of especial
interest.
Sugar-No changes have since occur
red in the local market or for export
to Alaska and Hawaii, prices previous
ly advised still being in force
Basis-Oct. goth and 31sr, no sales;
Nov. LIST Ito arrive" sale 400 tons at
4 3-S; End to 18th, no sales; 14th, cost
and freight sale, 900 tons, at Assoc
18TH spot sale, 600 tons at 465c.! since
which 10 sales; estar::shing basis for
SO deg. Centrifugals in New York Nov.
18th, 465c. San Francisco, 4.275c.
New York characterization 4.95c.
net cash in barrels, equivalent to 4,90c,
net cash in bags, established Oct. 2Sth,
continued in force until oct. 31st on
which date an advance of five points
occurred, followed by another advance
of 10 points Nov. 1st, and again follow
ed by an advance of ten points Nov,
4th, and again of five points Nov. 10TH
and again of ten points Nov. 18th, and
again of ten points Dec Sth, and again
Dec. 10th, establishing a price on that
date of 5.55c. net cash in barrels, equi-
valent to $500. net cash In bags.
YOU MAY HAVE NOTICED,