The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1905-03-10
A STRONG MARKET
FOR RAW SUGAR
WILLIAMS DIMOND d. COMPANY
GIVE THIS OPINION IN THEIR
LATEST MARKET CIRCULAR.

Concerning the sugar market will
liams Dimond q Co. u their market
letter received by the Alameda today.
say that the New York price of g6 de-
grces ceutrugals ON February ~ was
established al 5l5 cents "a pound by the
sale on that date of 300 tons cost and
freight at 5.12 and cost and freight sale
500 tons at BIS cents "a pound. making
the san Francisco price A715 cents.
New York Refined. Price of 6.O5c net
cash in bbls equivalent to 6 cents net
cash ina bags established January 18th
continued i'm force until February Sth,
on which date "a decline Of ten points
occurred, establishing a price on that
date Of J.95 cents net cash in bbls.,
equivalent to $50 cents net cash n
bags. Since that time no further
change has occurred.
Latest Statistical Position. Wnlett
and Gray report L. S. 4 ports in an
hands estimated February p. 1J14S8
tons against l05,7O3 tons same date last
year Six ports Cuba estimated Feb
ruary a. $4,000 tons against 600
''AlHf wi NHl''IlNllIH l'Hllp'A IlfHiVAH
year United Kingdom estimated Jan
uary 31st (bonded stock 10000 tons
against $4,000 tons, same date I'm 1904.
Total stocks I'm all the principal cOun-
tries by cable February % at latest
uneven dates 2,S09,i88 tons against g.
64S, 703 tons; decrease from last year
S392lJ tons. Sugar crops Of the world
total cane sugar production (W. & ca,
4,638,000 tons; European beet sugar pro-
duction Of. G. LichD 1858 900 tons;
United States beet sugar production
wv & CD 100000 tons; grand total
cane and beet sugar production $685.
900 tons against 1O.324,262 tons IN 1909
1904; estimated decrease I'm the worlds
production S19,262 tons.
Eastern and Foreign Markets. Short
ly after the publication Of our previous
circular, a sharp decline I'm prices oc-
CURED both IN this country and abroad.
In Europe, where previously specula-
tive tendencies were for a long time In
the ascendency, Il Is not to be won
dered at that o reduction IN valuations
was "A natural concomitant Of a return
TO more healthy condition, while I'm this
country, prices having been advanced
with great rapidity a reaction set i'm.
the immediate cause Of the decline
seemingly being found I'm the pressure
to sell sugars comparatively limited IN
quantity, which had been consigned TO
this market from Cuba unsold. Fur
thermore, receipts at this juncture be-
ing unusually large the facilities at the
relineres were taxed to the utmost in
caring for previous pur bases AID asaiI
new business I'm refined proved for the
time benng quite disappointing, the
resultant effect was shown I'm the com
plete withdrawal Of the principal buyer
from the market and the policy adopted
by others Of forcing anxious sellers to
part with their holdings at "A reduction
in price more than sufficient 10 cover
any expense OF carrying the extra sup
plies until they might be required.
Nevertheless the underlying sound
ness Of the market has been generally
recognized I'm consequence Of the fav-
orable position Of sugars statistically
and period Of comparative inactivity
followed from which the market has
rallied slowly until at the close accord
York under date Of january 18th, a
strong market for raws Is I'm evidence.
transactions having been contaminated
latterly at successfully higher prices.
Indicative Of the fact that even I'm the
estimation Of buyers the decline has
about run It's course, while planters in
Cuba where the chief interest Is now
centered, have apparently come to a
full realization Of the strength Of their
position, having practically no compe-
ton to fear until the advent Of new
crop Javas I'M August and It will be
surprising II they do not at least make
ever effort TO take complete advantage
Of existing conditions,
European beet prices, although nuc-
tuatlng to some extent, again reveal
an upward tendency and developments
I'm the situation abroad will be watch
ed closely as the problem Of European
consumption taken In conjunction with
the foreshawoded crop shortage Will
undoubtedly exercise dominating in
nuence on the future course Of the SUI
gar market Of the world. No particu-
lar change IN the situation as regards
crop estimates has occurred since our
Z last circular.
| Refined for the most part has beer
dull and llfeless throughout the period
under consideration until latterly q
marked Improvement I'm the demand