The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1906-12-09
NEWS
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NEW YORK MARK EFT.

Continued from Page Four.)
NEW YORK MARKET
Willett & Gray, for the week ending
Nov. %, say that total stocks ano
| afioats together Of raw sugar show g
| visible supply of 1882, 617 tons, against
| 2,052,455 tons last year, or a decrease
| of 1883 tons. AT that date the eStim-
| ated quantity afioat from Hawaii was
10000 tons The one important feature
| in a quiet and steady week was men
| toned as being the beginning of the
crop season in Cuba, where last year it
| began the week ending December II,
on which Willett & Gray comment as
follows:
The commencement of the season is,
therefore. a 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 it
viii 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. It may
be that some unforeseen opening win
occur by which better labor conditions
will be obtained. OF 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
3-Sc., c. and f, for SO test basis,
equal to 3.74c. e1anded, and it is believed
that a moderate business has been done
on this basis. There are now buyers
at 2 3-Sc. C, and f. for December ship
ment but sellers ask 2 7-16c."
From present cable indications it
would appear as if the sellers were
having things their way. Centrifugals
have held at S76.S75 a ton from the
first of this month, while the parity of
European beets has advanced soc. t.
$500 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 $1.25 bid with sales
of some 300 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 ($20), at 24.50,
so at PATS, 230 at %, Is at 25.76; Kihei
C$5O), L at S.25 % at SITS; Oahu (S100),
10 at 80, so a 49, Rapid Transit Com.
($10v), lao at 81; Oahu Railway (s100), 40
at 80; Brewery $500, 80 at %; Waialua
C$100), so at 6S, 10 at $3.50; Pioneer
($10O, at 1876; Haw. Sugar ($2O, 10
80 at $33; Pacific Sugar Mill (S100), rs
at 100: Honokaa ($20), 800 at IL; Nc
Bryde 6's, $1,000 at SO; Oahu Railway
6's $1,000 at 103.
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 1893
and 1884, .32 in 1901. Then, notWIth-
standing q reaction from imitation at
tended with reductions in rental values
and earning capacity, the next four
years yielded an increase of n per
cent.-'a jump from 1884, 1922 in 1901
to Sits. 99S.27 in 1905,'' the Governor
puts it, adding: Now, had there been
a corresponding increase in wealth
these figures could be maintained. That
the taxable values of property nave
been too high is shown by the fact
that last year the assessors We're
forced to submit to a reduction of S2,-
749 GS5 in the total value of taxable
property, as is shown by the follow
ing: Total grand list, January 1, 1905,
1888. 924 100: total grand list, January 1,
1906 S131, 175,015."
The Governor. discussing Territorial
bonds. recommends to the Government
in Washington that the Organic Act
ought to be amended where it makes
a 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-
lions offered by leading financial houses
in New York City il would be far bet !
ter for the Territory to be restricted !
TO the issue of a bond payable twenty
wears after date of issue. with a condi- |
ton that per cent. of every issue
must be redeemed each year, the bonds /,
to be redeemed to be drawn by lot, |
II is claimed that such a bond is al !
ways more certain of payment, ana /
commands therefore a higher market /
Price such a law would enforce upon !
this Territory the necessity of not only |
meeting its obligation, but of provld-
ing sinking fund for the extinguish- /,
ment Of it. one-twentieth of each issue |
being paid every year
Auditor Fishers comparative state
ment of the condition of the Territorial