The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1905-06-10
The Mystery Of
The Sugar Market
HAS BEEN THERE HAVE BEEN VERY VIOLENT FLUC-
TUATIONS IN THE MARKET AND PRICES HAVE
SHOWN A VERY WIDE RANGE


SHOWN VERY WIDE RANGE.
the present unaccounable situation in the market:
The present depression in the market quite alarming and
rermancnce the higher level OF prices indicated early in the year
We are ordinarily led to believe that European merchants are ompr
avc conservative and experience in the market has shown
that the merchants in the great entcrs OF London Paris and
Hamburg operating sugar have gone great up
fallen downward
parallel speculative carried this country
January beet sugars were carried ND to los 3d the European mar
kcs S39 pounds OF beet sugar The
market has gone down to us 3d. or let us S2 Tor 12
pounds clear decline in values OF Is per pound The
American reached full parity OF the European market
land yet in January 90 sold New York at 81 cents and
this writing reported sold down 434, decline Of
per hundred pounds.
The general sugar situation seems about as strong as ever 1t was
manifest early the year that prices sugar
ccnty reduce consumption continuation previously
orded consumption could supplied known sources
he statistical situation now suan fairly well the conclusions then
made and essential that the consumption of should be dim
nhed in order that into the crop with stuff
n supply on hand to keep the sugar trade operation The pres
disaster the market therefore would
exhaustive upward movement sugars early in the forced by the
VINO are dong their business as usual entirely upon
credit who members the exchanges being pv
any margins whatever and only to maintain their accounts even with
the markets. The failure OF these spectators has had very
buyers OF this country have left effort unspared to keep
1.-THE downward movement continuous
In addition the decentralization OF the spectators sugar is
we recognized fact that any material advance staple
modify develops apparently increase in the socaed
anticipated scarcity maerazng the last great
drought Europe nearly thirty years ago sugar very
suspension in the activity of the market then reaction
such as we are now experiencing 1t then found that large
y OF inferior had been brought the worlds markets
India The East Indies the largest producers OF the
world producing million annually
however, generally grade
entirely under ordinary conditions The English Indies large
consumers of imported sugars addition the quantity
produce at home but the great that time became
tempting those merchants who had these sugars stock that many
of them into the worlds market and their unexpected advent
had depressing effect At the present time there has compare
tive exhaustion the invisible supplies OF sugar indicated in
issue May review OF the imports sugar United
States for the nine months ending April The large mporaons Of
sugars the United during year
period the before would indicate that these sugars would
have been brought into t country had not been for the actual
Wandng the fact that market has broken down from the
Cessve speculation had in Europe sugar supplies
short and there will be difficulty maintaining in the
markets OF the world sufficient quantity OF through
until the crops growing shall into the market The worlds
now about 100000 tons OF sugar visible IN the Word markets. that
would indicate three months supply which June, July and August
September Any material purchases OF beet sugar IN Europe IN Oco
Der would rapidly enhance values there that will require the most
sfu manipulation the OF buyers and rehners to
supply tins country and Europe with sugars Tor consumption during
the three months without advancing the prices sufficiently to lessen the
consumption below the normal limit
Saticaly the sugar situation would be strong
and the depression the result undue speculation from
which shall hope for early reaction.
Regarding mysterious the invisible supply tie LOU
The invisible supply the mysterious factors in indus
trial life whether be cotton rice any other staple com
modify. The high prices prevailing for during the first third Of
this year have certainly brought the invisible supply have
particular evidence that the people Of this or other country are
sugar seems to be actually increasing everywhere among civilized
The large sugar intermediate hands, between
those OF the producers and Of the and known the in
visible supply has been drawn upon keep the people supplied with
sugar and we find good evidence OF this the a that the shipments
OF sugar from Hamburg to Great Britain Tor the SIX weeks ed8
April 80 but $4,000 against tons during the same
weeks last The difference must have come ouy of the nvs
be supply the Brons consuming less sugar and would be
difficult to establish the latter hypothesis.