The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1906-08-24
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Sugar and Coffee.
Willett & Grays Cigs@ar


OF small packages and of assorted car
loads
!. The undertone is strong at the close,
, and buyers wosld do well to keep fully
I supplied and TO anticipate wants.
A decline of 20 points has taken place
in Crockett California refined sugars.
que Ia disturbed local conditions
Coffee-Sharp fluctuations have been
the feature in the speculative coffee
markets the past week. Different
shades of opinion on Valorization have
played their part and there have been
new buying and covering and realiz-
ing, with some short sales, this last
chiefly for European account.
Based upon the most authentic re-
ports of the progress of the bill. the
predictions given in this column from
week to week are verified by the bill
becoming an actual law, which becomes
effective at once 1t is astonishing that
this fact is still received with skep-
ticism. because no doubt should exist
of the determination of the coffee
states in Brazil to operate the law.
backed as it is by the necessary loans
to ensure safe commercial transac-
lions The ValoriZation Law is intend
ed as 4 form of Government financial
assistance to the planters all through
the interior, in moving a portiom OF
tnei. crops when they have the great
est need 70 realize a perfectly SOUND
proposition and q commendable system
of reform compared with the ru1nous
methods that have forced so many OF
the planters TO sacrifice their product
hitherto. The early operations OF the
Government plans will soon bring con-
vincine results of the practicability of
the same, and ValoriZation may yet
make and sustain prices for the crop
Ii is difficult to conceive that any valid
objection can be raised to Government
action in Brazil to protect its principal
industry when all other countries nave
found the necessity for similar policy
in one form or another.
The coffee markets have been most
unduly depressed for many months
Valorization has occasioned some new
animation and in due time can be re-
lied upon to have it's own influence.
IN Meanwhile il is advisable to consider
coffee on it's own intrinsic merits, justly
ertitled TO a much better level of values
production is not equal to consump- |
ton necessities of the trade are very
acute and prospects for future crops
feature of great Importance. 1t is un.
deniable that on the present scale OF
consumption of coffee the world re
quires 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 |
in seven months), stocks in this coun- |
try are meager. A large buying and
consuming capacity exists. The world |
must go to Brazil tor supplies, and |
Brazil can be safely said to be in a |
position to dictate prices for her crops. |
On these facts alone the future for |
the article is exceedingly good and suf-t
ficient to stif1e pessimism as to the
paternal action of Brazil in trying to
safeguard the interests of her planters.
Local quotations have been up to
8 7-Sc. for Rio No. Z, but at the mo-
nlent the price is Sic. nominal
Prices paid for other grades naturally
vary according to the selections, but
at any rate coffee changes hands in
this market below what it can be re-
placed at in Brazil.
August options, week ending August
2: Highest, 7.15 to 7.20; lowest, SIS to
$50; 7.05 to TO, against last year clos
ing SOS to Z. No last year, 5-Sc.
Visible supply of world, in bags-Au-
gust 1, 1906, 9.94S.053; July 1, 1906, g.
$50, 1858; August 1, 1905, II, 1854.
Stock u. S., all kinds, in bags-Au-
gust /, 1906, 3,443, 594; July 1, 1906, s.
,75 oSe- August L. 1905. 4,040,757.
Stock Brasils in New York, August
}. 2,Sa5,01S bags. Total Brazils in the
United States. 1854 ,6S3 bags. Total in
y. s., other kinds, August 1, 4S5,065
oags. Deliveries of Brazils for the week
ending August 4, 104,317 bags. against
2, 46s bags last year. Receipts of Bra
ills for week ending August 8. 1920
,ags