The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1906-09-03

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trails grinding. against no receipts and
centrals grinding last year.
The total production of sugar in Cuba
to July 31st was 1872 S2 tons, against
11o4,.91 tons to same date last year.
After July 31st last year there was pro
duced nearly 10000 tons sugar
No recent business in Javas is report
ed Evidently all of the August ship
uents were disposed of previous to this
week. the offerings at present being
limited to OBSERVATION-DISCLOSURES shipment
at los. to los. 11kd. c. and f., equal to
3.9ic. to 3.94c landed for SO deg. test.
The first cargo of present crop will be
due to arrive here next week to re
finers.
The ruling quotations for beet sugars
in the European markets at the close
last week We're basis IS. 3-4d. for
prompt delivery, but as a result of the
cessation of the demand from American
refiners and of the favorable reports
of the growing beet crop, prices declin-
ed to IS. 11Ad. at the close, being the
parity of 3S7c. for 90 deg. test centrif-
ugals, or practically the same as the
current quotations at New York. Octo-
ber-December delivery is quoted at S.
90. Beet futures are offered at SIS. 0Ad.
for May.
1T seems to be evident that the Amer
lean refiners will be unable to obtain
sufficient cane sugars in season to Keep
them fully supplied until the new Cuba
crop comes to market, consequently
they are likely to make further mod
crate purchases of beet in Europe, but
not of necessity Immediately. The
course of the European markets will,
therefore. have an important influence
on prices here for several months.
Indications point to a steady market
for the present, with the possibility of
an Improvement in values next month
if the demand for refined increases.
At the close, it is rumored and believ-
ed that 1900 tons of Javas, in store
here. have Just been sold to Messrs. Ar
buckle Bros. at 37sc, basis SO deg. test.
Refined-Prices of refined sugars re-
NAMED unchanged throughout the week
on basis of 4.S0c less l per cent, cash
for GRADUATED, being held firmly by
all refiners A moderate quantity OF
GranuaIated in second hands can be
bought at 470c.
New business is only fair, but sugars
under contract are being ordered
shipped in good volume, and delays IN
deliveries are still reported.
American and Howell advanced to
full list quotations their Extra Fine
Granulated, Coarse GRADUATED and
Fruit Powdered, which are largely over
sold. Orders for these grades have re-
Gently been accepted at 10 points below
list. or at the same price as Standard
Granulated.
We have arranged to receive from re-
liable correspondents in all parts of the
country special reports on fruit crops
and local sugar stocks, which We pup
lish as they come in. Thus far aoVlceS
from Eastern sections Indicate unusual
Iy favorable crops of fruit this season,
while the stocks of sugar in the same
localities do not appear to be material
-ly larger than those of last year
There was comparatively little can
nine, done last year because of the small
fruit crops and high price OF sugar; the
conditions being reversed this year, 1t
NAV be expected that the preserving OF
fruit will be carried on very extensive
1y during the next six weeks, thus re-
curing an enormous distribution or
sugar, which will tax the refiners' de-
livery departments to their utmost ca.
pacity. We advise buyers to send orders
in advance of requirements. otherwise
It will not be surprising if the demand
proves so heavy as to cause higher
prices before the end of the present
campaign.
Part of the decline of last week in
San Francisco has been recovered, and
both refineries now quote basis of 4.40c
net for GRADUATED.
Coffee.-The Brazil Valorization Law
is on the statute books. The Govern
ment is actively arranging the neces-
sary formaIities to put it into operation
OF this no doubt exists, and the deter
mination of the authorities is beyond
question. These are the cold facts
Discussions between economists and
financial writer's may develop theoretic
ideas as to the far off results of this
new protection law Of Brazil, but the
coffee markets are concerned in the
conditions as they are now and for the
near future
Brazil has a crop of coffee which the
world must buy. knowing the urgent
necessities of consuming markets and
the long continued bear depression and
manipulation against the price of her
principal product, Brazil had to defend
herself. She knows that the actual
consumer pays to-day the same prices
for coffee as when the green was sell
ing at double the present figures. There
is no reason for skepticism as to
BraziPs attitude, and it is very absurd
to suppose that the Government puts
through the law with such big MAORI
ties to allow it to remain ineffective. 1t
is even more absurd to doubt its prac-
tical success until it is seen in opera
ton.
We repeat, consuming markets must
buy in Brazil, and Brazil is justified in
trying to obtain fair valuation. I'm
due manipulation and pessimism have
so long stood in the way, until Brazil
has demanded and created legislation
TO assist her object. Criticism of her
right is inadmissible. She is defending
her commerce with an economic nea-'
sure backed by the assistance of for
eign loans. There are few loans so
thoroughly secured and Safeguarded as