The Hawaiian gazette., 1906-12-11
NEW YORK MARKET.


NEW YORK MARKET.
willett & Gray, for the week ending
Nov. %. say that total stocks and
afioats together Of raw sugar show a
visible supply of 1,932,617 tons, against
/ 2,052, ass tons last year, or a decrease
OF 119,S3S tons. At that date the estim-
ated quantity afioat from Hawaii was
20, 600 tons. The one important feature
in a quiet and steady week was mem
toned as being the beginning OF the
crop season in Cuba, where last year 1t
began the week ending December II,
on which Willett & Gray comment as
follows:
THE commencement of the season is,
therefore, little earlier than usual,
which is favorable for crop prospects.
The important question on now is the
labor question. General complaints
from the Island during the week have
been received on this subject, some es-
tates going SO far as to say that II
will be impossible for them to make
much, If any, sugars this season, but
such reports at the outset Of the crop
must be taken with due allowance for
contingencies that may arise. 1t may
be that some unforeseen opening Will
occur by which better labor conditions
will be obtained. or course, there is
abundance of cane in the fields to make
a considerably larger crop than last
years and the limit to the crop Will be
the limit of labor"
The same authority says: Actual
sugars for December shipment were
offered at one time during the week at
2 3-Sc., c. and f., for SO test basis,
equal to 3.74c. landed, and it is believed
that moderate business has been done
on this basis. There are now buyers
at 3-Sc. c. and f. for December ship
ment, but sellers ask 2 7-16c."
From present cable Indications II
would appear as if the sellers were
having things their way. Centrifugals
have held at $76.S75 a ton from the
| first of this month, while the parity OF
| European beets has advanced soc. To
$3.50 a ton.
| THE LOCAL EXCHANGE.
! With transactions few in number,
| but some of considerable size, there
| has been a hardening of prices for
several sugar stocks on the local ex'
! change. Eva in this respect has been a
feature, advancing SIPS bid with sales
of some 800 shares. Oahu has
strengthened $3.50 bid with small sales.
Kihei and Ookala have shaded up.
Only few stocks have slid any.
The listed sales for the week have
been as follows: Eva (S20), at 24.5o
so at PATS, 23O at 20, Is at 25.75; Kihei
($5O), ~ at S.25, 2S at S.75; Oahu (s1OO),
10 at 100 80 at 121; Rapid Transit Com.
(s1O), 14O at 81; oahu Railway ($l0O), 40
at 80; Brewery (s20), 80 at IS; Waialua
(slO0), 80 at 6S, 10 at $3.50; Pioneer
(slO0), Z at 1856; Haw. Sugar &2O), 10
80 at 1888; Pacific Sugar Mill ($l0O), 20
at 100; Honokaa (s20), 800 at II; Nc
Bryde 6s, $4,000 at SO; Oahu Railway
SIS $1,000 at 1903.
| SOME PUBLIC MATTERS.
| Governor Carter furnishes some food
for thought, on the subject of direct
taxes in this Territory, in his report
for 1906 to the Secretary of the In
terror He shows an increase in in
come from real and personal property
of "A per cent in the first three years
after annexation, viz: $535,o24 in 1889
and 1894, 45232 in 1901. Then, notWith-
standing a reaction from imitation at
tended with reductions in rental values
| and earning capacity, the next fouI
years yielded an increase of n per
cent.-"a jump from 1884, 452,32 in 1901
to $l17999S.27 in 1905" the Governor
puts 1t, adding: Now, had there been
a corresponding increase In wealth
these figures could be maintained. That
I the taxable values of property have
been too high is shown by the fact
hn
forced to submit to reduction of 81,
749. OS5 in the total value of taxable
property, as is shown by the follow
ing: Total grand list, January !, 1905,
sl33, 924 100; total grand list, January J.
1906 sl3l 175,015."
/ The Governor. discussing Territorial
! bonds, recommends to the Government
in Washington that the Organic Act
ought to be amended where 1t makes
restriction whereby only those bonds
that are redeemable after five years
/ and payable in fifteen years from date
can be sold. He says: From sugges-
tions offered by leading financial houses
, In New York City 1t would be far bet
| ter for the Territory to be restricted
| to the issue of bond payable twenty
wears after date of issue, with condi-
tion that per cent. of every issue
must be redeemed each year, the bonds
! to be redeemed to be drawn by lot.
IT is claimed that such a bond Is al
ways more certain OF payment, and
! commands therefore a higher market
price. such law would enforce upon
this Territory the necessity OF not only
meeting its obligation, but OF provid-
ing a sinking fund for the extingulsh-
ment of II. one-twentieth of each issue
| being paid every year"
Auditor Fishers comparative state
ment Of the condition of the Territorial
I treasury for the months ending No
vember 20, 1905 and 1906, gives data
from which the following items are
taken: Current receipts. 1905, sl,573,-
O26,42, and 1906 s7OO,6l561. (The great
difference of ss72, 4io,sl is caused by thu