Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1906-03-02
RECORD low PRICES
SUGAR BED ROCK WAS
REACHED IN FEBRUARY
REDUCTION OF EUROPEAN SOW.
iNos ONLY ABOUT EIGHT PER
cENT.-WEsT INDIES su.
GAR TO STATES.


Willett G Gray's Sugar Journal for
February says Of the raw sugar mar
ket.
Raws.-There has been a very con-
siderable business done during the
week under review, but at prices In
favor Of buyers. resulting at the close
In a decline OF lac per pound, the clos
ing quotations for SO test centrifugals
being &c. per pound C. and I. for Cub
an sugars. and 3.36c. per pound duty
paid. Centrifugals from non-privileged
countries, which are assessed full duty.
are valued at 1.66c. per pounds C. and +
The Cuba crop is now at the height
OF the grinding season, Ill centrals
now working against li7 last week and
173 last year. Some centrals which
did not contract ahead for shipments
of their sugar entered the market free
ly for disposal OF their early product
at q time when buyers were filling,
thus causing the decline noted. Also q
desire Of full duty-paying countries to
market sugars have caused competi-
ton with the Cuban sugars. Such
competition is likely to increase rather
than diminish, as the amount OF full
consumption steadily diminishes.
European markets are at new low
level OF Is, HAD. to SIS. for prompt s.
beet and ss. aid. for August delivery
which would seem to be close to the
bottom prices. These prices are favor
able to decreased sowings for the next
beet crop OF Europe, although the ad-
vices from Europe, to date. do not in
dcate more than an average of per
cent. reduction OF acreage. which Is
Ness than was hoped for, and later re-
ports are awaited with interest Mr.
r. o. Licht cables us that the European
beet crop conditions are unchanged.
Philippine Islands bill is progressing
slowly In the Senate committee and Ia
not likely to reach definite action by
the Senate for some time.
Our cable advices from Cuba give
total receipts of the new crop at all
| ports 10 the end OF January l22.05C
| tons. agains 2G2. 100 tons for sam,
| time last year and stock, February LIST
| Sails tons against i49.SSS tons yeal
ago. II is expected that hereafter. the
/ weekly receipts in Cuba will be large
than those OF last year.
The receipts at the U. S. Four Port'
\ this week were 20,7ll tons agains
MEETINGS OF 10000, thus reducing stocks
nearly 10000 tons. One of the larg'
refineries has Just shut down in con
sequence OF an accumulation OF the re
fined product, thus requirements TO
MEETINGS will be smaller until the de
mand for refined increases.
Prices have now nearly touched tn
lowest price on record, for 96 test cen
| trifugals. which was 3.3l in January
1904. and they are now SOC. below tn
parity of quotations for European bee
sugar. In case there Is much furthe
reduction in prices here, without a col
responding decline in Europe. the Yves
India sugars will doubtless seek a maj
ket In England.
Visible Supply.-Total stock OF Eu
rope and America. 3,979.l6S ton!
against 2.7S2.3i0 tons last year at IN
same uneven dates. The increase Q
stock Is l.l96-.2S tons. against an In
crease of 1858 639 tons last week. TOtg
stocks and a1oats together. show Wis
ible supply of i,069,l6S tons, agains
2.SS2,SiO tons last year, or an increas
Of l,ISG,S2S tons.