The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1905-02-17
SUGAR STOCK
IN SAN FRANCISCO


The San Francisco Chronicle of Feb
ruary ~, Its stock market report says:
There was quite a sharp decline i'm
sugar stocks yesterday and as usual at
such periods iu am active market there
IS always "a number of small holders
who promptly offer TO sell and thus in
crease the depression. So it was yes
terday, the offerings being almost who'll
ly small parcels while some of the lead
ing sugar stocks were not represented
I'm the days business. The decline was
not due to any weakness, the trade
conditions in raw sugar being tempor-
arily more quiet The present is not q
consuming period beyond the ordinary
wants of the people at large the can
ming season being over and the refn-
ers for the slime being having obtained
enough raw sugar TO last them a few
weeks. The Cuban planters are afraid
Of more rain and i'm consequence are
rushing their sugar TO the front as rap
idly as possible. This naturally causes
a temporary surplus at points of accu-
mutation and enables the reineries to
hold off and appear Indifferent 1t will
be seen, however, that this policy will
develop shortage of still more acute
character a little later on when the re-
iners will be compelled to buy and the
available supply is less plentiful. In
this city, for several days past, the
street has been filed with false reports
concerning crop conditions and wealth
err in the Hawaiian islands. Yesterday
the discredited report about long con-
tinued dry weather was again used for
bearsh purposes. The fact is the
weatehr and the season has been the
best in many years. 1t has been an
ideal season and cables as recent as
yesterday reiterate that statement The
Hamakua district in which the Homo
kaa and Paauhau Plantations are Local
ted, have had an abundance Of rain and
the weather has been warm. As to the
Honokaa the last letter received a few
days ago says: The juice is much bet
ter this year than i'm 1904 that is, the
same weight of cane produces a larger
quantity of sugar. The rains have been
light and just right I'm quantity. The
present crop will be fully 5000 tons"
Advices from the Paauhau Plantation
are to the same effect.
The Chronicle Of the 10th says:
A very quiet tone prevailed in the
market yesterday and values all along
the line were easier. The days sales
were moderate i'm extent, holders gener-
ally being dsinclned to offer, and
manifesting confidence I'm the situation
by refusing to make any concessions.
Sugar stocks, in common with other Sc
curities, felt the depressing influence
ana changed hands sparingly at figures
a trife below the ruling rates of the
previous day. Paauhau was the only
sugar stock that sold to any extent and
the sales OF that were limited to $50
shares. The closing figure, $2525, was
held quite steady Concerning the con-
dition of the market for raw sugar,
Willett & Grays Trade journal Of
February %, says: The market is
more quiet with both buyers and sellers
holding off This is due to the fact that
the country is overstocked for the time
being, with their purchases of refined
sugars in the effort TO secure supplies
for the future before further advances
occurred. These purchasers are not
likely to enter the market again to any
extent during the present month.
Against this, however, is the fact that
some rehners are oversod on their pro-
duction for the entire month and are
not anxious for new orders. The re-
ceipts, also, are in excess of the re-
quirements for milling and the Cuban
crop Is at it's height If the market
can be made to hold steady through
the month, II should be followed by an
Improvement later on when the de-
mand is again renewed"