The Hawaiian gazette., 1906-08-28
Sugar and Coffee.
Willett e. Gray's Circular.


4a4H 4HusuHuHuHmHA III
OF small packages and of assorted car
loads. @'' N"i
The undertone Is strong at the c,ose
ana buyers would do well to Keen f,,,,v
supplied and to anticipate wants.
decline OF 20 points has taken placa
IN crockett, California, refined sugars
que to disturbed local conditions
II Conee.-Sharp fluctuations have hear
.ne feature IN the speculative coffee
markets the past week Different
snadcs or opinion on valorization have
piaved their part and there have been
new buying and covering and realiz-
ins' with some short sales. this last
/ cniehy for European account.
based upon the most authentic re-
ports OF the progress of the bill. the
Z predictions given In this column from
week to week are verified by the bill
pecoming an actual law, which becomes
eHective at once. 1t is astonishing thar
| this 1act Is still received with skep-
ticism, because no doubt should exist
OF the determination of the coffee
sta'es IN Brazil to operate the law.
backed as 1t is by the necessary loans
10 ensure safe commercial transac-
lions. The Valorization Law is intend
eo as q form OF Government financial
assistance to the planters all through
the interior, In moving a portion OF
tneir crops when they have the great
est need to realize, perfectly sound
proposition and commendable system
OF REFORM compared with the ruinous,
methods that have forced SO manv OF
tne planters to sacrifice their product
nitnerto The early operations of the
government plans will soon bring con-
Vinclng results of the practicability of
the same, and Valorization NAV vet
make ana sustain prices for the crop.
IL is dlf1cult to conceive that any valid
objection can be raised to Government
action IN Brazil to protect it's principaI
industry when all other countries have
FOUND the necessity for similar policy
In one form or another.
Ine coffee markets have been most
unduly depressed for many months.
Vaiorlzation has occasioned some new
animation and in due time can be re-
hed upon to have it's own influence.
Meanwhile 1t is advisable to consider
coHee ON its own intrinsic merits, Justly
eEtltled to much better level of values
production is not equal to consump-
Ton, necessities of the trade are yery
acute and prospects for future crops a
feature OF great Importance. 1t is url..
ueniaple that on the present scale OF
of coffee the world re-
1uires every bag of the current crops.
european port stocks are the smallest
IN several years, and the interior of
europe has never been SO bare of sup
plies. Outside of New York (New York
stocks have decreased one million bags
N seven months), stocks in this coun-
Try are meager. A large buying and
capacity exists. The world
must go to Brazil for supplies, and
brazil can be safely said to be in a
position to dictate prices for her crops.
in these facts alone the future for
he article is exceedingly good and suf-
icient to stif1e pessimism as to the
,aternal action of Brazil In trying to
afeguard the interests of her planters
Local quotations have been up to
1-Sc. for Rio No. Z, but at the mo-
,ient the price Is 8 3-4c. nominal
'rices paid for other grades naturally
AIRY according to the selections, but
t any rate coffee changes hands in
his market below what 1t can be re-
laced at in Brazil.
August options, week ending August
(: Highest, 7.15 to 7.2O; lowest, 6.S5 to
80; 7.O6 to 7.1O, against last year clos
ng 6.95 to T. No last year. 8 5-Sc.
Visible supply of world in bags-Au-
ust 1, 1906, 9.94s.05a; July /, 1906, o.
S6.563; August /, 1905. 11,465,e41.
Stock U. S., all kinds, in bags-Au-
ust l, 1906 3,44s.594; July l, 1906, 81 4
7h, ,eS6; August 1. 1905. 4.04O.757.
Stock Brazils in New York, August
2,Sa5.0ls bags. Total Brazils in the
Tnited States. 2.954,6S3 bags. Total in
J. S., other kinds, August 1, 435,06h
ags. Deliveries of Brazils for the week
nding August 4. 104,317 bags. against
2,46S bags last year. Receipts of Bra
lis for week ending August 5. 1920
ags.