The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1905-01-03
WILLETT & GRAY'S
SUGAR REVIEW


wnleu & Gray 100 the latest issue Of
their statistical trade journal say un-
der date of December 2:
Raws-At the close last week the
business dom was ou the basis of3Ac.
for 96 deg. test Centrifugals, C. and T..
and with holders asking lie to 1-Sc.
higher for January March shipment.
! These pretentious have been fully re-
allied. and most OF the business put
through during the week under review
was at 1-Sc. advance. say at 3i5c. G.
and {. At last weeks close. the Euro
pean beet sugar market was at l4s.
5h.. from which IL rallied to l4s. 3d.,
the high point previously touched on
the 18th Of November From this point
the market declined TO 13s. Cd. and rail-
lied at the close to 14s The reasons
given for the advance noted here were
quite legitimate being based upon the
fresh estimates. several Of which APP
peared during the week. and all Of
which made reductions in the crops,
factory estimate reducing $1,000 to A.
1893 900 tons. Mr.. f. O. LIGHT making
two estimates with a total reduction
this week Of 100000 tons. making his
crop estimate 100000 tons, the differ
ent estimates now being somewhat
nearer together than at any time pre-
viOusly All this favorably influenced
the American markets, in which busl-
ness IS done under normal conditions,
and without the excitement attending
speculative purchases and sales, such
as exist in Europe. The speculative ele-
iment had full control Of the European
exchanges, and what at times appeared
to US TO be favorable conditions, APP
peared to them to be unfavOrabie, be-
cause In their own minds they had an
lticipated larger reductions I'm crop esti-
mates than the given out thus far. This
led to urgent unloading Of contracts to
secure profits I'm hand, regardless Of the
future outcome for which all indications
point to a higher level, both here and In
Europe although for the time being it
is not well, perhaps, to anticipate any
further Improvement.
The news from Cuba, considered fav-
orable here, was looked upon as unfav-
Orable for European SPECTATORS. There
is nothing new in Mr.. Guma's report
in the fields to produce a crop Of l4OO,
900 tons sugar. This fact has been
known all along. The only important
r new feature is that A. centrals have
v commenced grinding against Is work
ing at the same time last year, show
ing that this earlier beginning will pro
J duce a certain amount Of sugar in De
cember. in addition to the normal pro
lduction for this month, which should
be added to our estimate Of 10000
tons of the crop, which estimate we se'
P no reason to change for the presen
and, perhaps, not until the month o
April develops more fully the crop con
ditions IN the island. 1t has ever beei
found impossible 10 grind all the can
I'm the fields, the season usually beini
y cut short by rains and, at this time, tn
planters are also hampered by a scar
city Of labOrers. Latest returns defin
itely fix the out turn OF the last G9O3
Re OD Cuban sugar crop at 1,04O,228 tons
A small sale of Centrifugals on tn
spot was made today at 47-8c., basi
u 9G deg. test, which price is asked 70
lie Porto Rico sugars for arrival tn.
s. month.
Canadian buyers accepted 1000 ton
10 Demerara Centrifugals, at 5-16c. {
M and f. to New York, equal to Be. land
- ed, for SO deg. test, If duty paid here.
New crop Javas are Offering AT AS. c
- and f.. for May-June shipment, equa
- to 4.SOc. landed, and at 12s. G. and I. 10
=. July-August shipment (September-Oc
tober ARRIVAL, equal TO 4.35c. landed
for SO deg. test, with buyers near. Tn
- latter quotation is on a parity with III
!: I'D. for October beet, which seems I
/, confirm the opinion that high value
!, will be maintained beyond the close q
-, the campaign
y Receipts for the week IN the Unite
- States increased to 32.3O2 tons, again'
~ 9,159 tons last week "a 27,2j9 tons 70
tn corresponding week last year, 4
- that the total stocks are 1l7,jl6 ton
~ against last week lll,2l4 tons wit
~ melting reduced 1000 tons. Receipt
% viii be smaller for some weeks to com
the anOats from Java, which has re
" Gently been the refine main source {
y, supply, now being reduced to only %
900 tons.
No sugars have turned W Tor sa
during the week from any unusu
sources OF the world, 80 that prOspe,
tive supplies remain virtually unchanl
Oh ed and altogether inadequate to Il
e. normal requirements for cOnsumptio
X Of the world; but. as there Is plenty {
III sugar for the moment. at least II
~ conditions which must prevail lat
ne on, are not yet being fully realized J.
any one.