The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1907-12-03
SUGAR

Willett & Gray's Weekly Statistical
Sugar Trade Journal for November IA,
contains the following information:
Stocks in the United states and Cuba
together Of 80. 49I tons. against 244.Q76
tons last week and I37.5S5 tons last
year, an increase of 1896 tons from
last year.
Stock in Europe, 1.349, coo tons against
l, 412.00o tons last year.
Visible Supply.-Total stock of Eu-
rope and America $50, 491 tons, against
l,549.5S5 tons last year AT the same IN
even dates. The increase Of stock is
1906 tons, against decrease of 81, $50
tons last week. Total stocks and
afioats together show a visible supply
Of I,706,491 tons against 1,694,5S5 tons
last year, or. an increase of II, 906 tons.
Raws.--We are having an iIlustra-
ton at. present OF what a scarce money
panic can do for the sugar market.
when it becomes necessary to sell a
crop under such conditions. In New
York there are but 1851 tons sugar in
warehouse and in Cuba but about 3d.
600 tons crop unsold, hence there is no
pressure of sugar upon our northern
markets. and quotations remain nom
inally unchanged at assoc. per h., SO
deg. test.
At New Orleans, where the domestic
cane crop is coming to market, and
must be sold, the full effect of the pres
sure for money is being felt. Planters
have stopped making grocery grades
for sale TO the trade direct, and are
making sugars of low color of as near
So deg. test as practicable for sale to
refiners. They save a little in cost of
manufacture by this method, but the
quantity pressed on the market is en-
tirely beyond the immediate require
ments of refiners, either in New Or
leans or at the north.
Hence prices have declined to 32sc.
per ID. for IS deg. test sugar in New
Orleans. equivalent to 3.59c. per Id.
landed in. New York by adding freight
and insurance. but with lie. per ID.
for present premium on currency or
funds with which to pay for the sugar,
equals 3 zoe. per Id. in New York funds
delivered at New York refneries, at
which there are sellers and bid of Lice.
less solicited. Much of the crop must
come north for an outlet this season.
Beet sugar in Europe is selling at
test centrifugaIs in New York.
The difference between $3.50. for beet
sugar and 3S0c., the nominal quotation
for 90 deg. test sugars, or 3.10e. for
New Orleans SO deg. sugar delivered
in New York, represents the decline
due TO money scarcity.
1t has been the custom and necessity
nearly every year at this season 10
bring a certain amount of beet sugar
from Europe and the parity has usual
" been even. Last year at this time
! beets were on parity Of 3.S2c. and cen
trifugals isle. per h., and 10000 tons
of beets were afloat for this country,
/ increased to $4,000 tons the following
week. This year there are but 1000
tons beet sugar affoat, with no prospect
of any increase for rest of year, when
the amount coming from Java Is con-
sidered.
The figures of foreign sugar supplies
now show as follows: Stock in Cuba
and L. 8. 237, 4S1 tons; afloat. 100000
tons: total 337 ,491 tons. against last
wear. stocks in L. s. and Cuba, 49,
5s5 tons; afloat at corresponding time
100. 600 tons, and actual receipts of beet
for balance of year, $1,000 tons; total,
| S5s.5 S5 tons.
Financial influence will bring more
domestic sugar to market before jan
nary and cause less distribution for
| consumption.
Europe feels no pressure in its SUI
gar markets and at present rs pur-
| suing a steady gradual rising tread
entirely independent of conditions and
I