The Hawaiian gazette., 1906-12-18
GOOD SUGAR
PROSPECTS

| WlHett q Grays journal for Nov. rs
IS the most optimistic number in a long
while regarding the sugar market pros
poets. The following are extracts:
A decidedly firmer tone and tendency
has developed I'm the sugar market
during the week under review. Instead
OF waiting for the new Cuba crop su-
gars to open at 2 lac. C. and T. for SO
deg. test basis, as was anticipated q
few weeks ago, buyers chose to come
In on the basis of 2 3-sc. C. and f., and
later paid 7-16c. C. and f., 96 deg. test,
for December shipment, equal to 374c.
and assoc. landed, to the extent of some
100000 bags. These purchases have done
away with any prospect of pressure of
early delivery sugars and impaired a
frmer tone to the whole situation.
Sellers are now asking for Cuba su-
gars 1-2c. C. and (. for December, 2
7-16c. for January and 3-Sc. C. and f.
Tor January-February shipment, basis
SO deg. test.
There are several influences at work
contributing to the improvement side
of sugar conditions.
Our advices from Louisiana indicate
that the domestic cane crop will result
in something like 100000 tons less than
last year, which means that increased
shipments to New Orleans will be re-
quired next year from Cuba, Porto
Rico and Europe.
Latest advices from Brazil indicate
that the northern crop of Muscovados
will result poorly this year. The un-
certainty regarding the labor situation
In Cuba adds an influence of firmness
to the market, Notwithstanding the fact
hot Inta
indicate the largest quantity of cane
In the fields of any crop ever raised in
the island. OF course, the labor ques-
tion will only develop from week to
week.
Extraordinary efforts are being made,
however, to bring in laborers from
Spain, the Cuban government being ap-
pealed to by planters to grant a por-
ton of the cost of transportation Of
such laborers.
The European markets show decided
strength also, and particularly for fu-
ture months, quotation being now for
May contracts 9s. Id, with increas-
ing demand from speculative quarters.
All signs point to a higher range of
values in January to June, 1907, than
those ruling during the same time in
1909.
Considering the natural increase in \
consumption in the United States, there
is a very fair probability of America
drawing so ne part of her supplies from
Europe before the end of the present
campaign.
In this connection we might say that
the shipments Of sugar from Java to
America will be much smaller than in
recent years because of the Increased
demand from eastern countries, Were
consumption is gaining each year and
must be supplied principally from Java
crop; hence America takes less Javas
in the past.
This weeks summary OF the statis-
tical position shows stock IL. the Uni
ted States and Cuba together CT 145,-
1924 tons, against 1857 tons last week
and SO1,624 tons last year, a decrease
of 155, 700 tons from last year.
Stock in Europe, 633, 900 tons, against
1851, 900 tons last year
Total stock of Europe and America,
1,71S,924 tons, against 1882, 624 tons last
year at the same uneven dates. The
decrease of stock is 203,7O0 tons, against
a decrease of 219,S3S tons last week.
Total stocks and afloats together show
a visible supply of 1,90S924 tons against
2,O32624 tons last year, or a decrease
of 123,7OO tons.