Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1907-05-24
SUGAR


Willett & Gray's Sugar Journal for
May 8 reports as follows on market
conditions:
VISIBLE SUPPLY.-Total stock Of
Europe and America, 3,452,77 tons,
against 3,747,567 tons last year at the
same uneven dates The decrease Of
stock is 294,792 tons, against decrease
of 261 1888 tons last week. Total stocks
and afloats together show visible sup
ply of 3,557,775 tons, against 3,S67,56
tons last year, or decrease of 300, 79Z
| tons.
RAWS.-During the week under re-
view Europe has led the advance, which
has been more notable than any rise OF
recent months. Beet sugar rose from
IS. Cd. to los 0 3-4d. (parity of 4l2c
for centrifugals), and cane sugar rose
Cd. also, with very strong market at
the close.
Prominent sugar experts in London
have recently said that the action Of
the beet sugar market at the time OF
lowest quotations, IS. 712d., remaining
arm and refusing to decline further al
though Cuba quotations were forced
parity, is good evidence that the
trend of values of sugar have complete
ly changed.
Il When beet sugar was at its lowest II
stayed there without support or ma
nipulation to put it on the lower basis
of Cuba sugar. These experts maintait
that the market evidence given is thl
strongest sort Of evidence that sucl
low prices will not be seen again for
several years to come. We are in
clined to agree with this opinion anG
to look for extremely prosperous con-
,itions for the whole sugar trade from
steadily increasing values from the
present basis. Europe takes the LEAD
md is now on a parity of Ape for
centrifugal sugar % test against pres
ent spot value of 1888 per lb.
The highest level reached last yeal
for centrifugal sugar in our market
was 1-Sc. net (Sept. 80, 1906 or the
present parity of beet sugar, but this
season promises to exceed this leve
with centrifugals. The Cuba weather
crop situation does not improve at al
and the closing of the present crop sea
son before the appearance of the rainy
season is quite suggestive of poorer
crop conditions for the next campaign
Such remarkable weather. conditions
as have recently prevailed in Cuba ant
the United States and Europe are detri-
| mental to all crop interests.
Cuba centrals working are reduced
to 45, against so last week and ia last
year.
A 'longshoremen's strike. and alst
IA sugar factory strike of uneducated
and unsliilled laborers, will curtai
MEETINGS the coming week.
Sales at the close comprise centrif.
ugals nearby at equal to 3.S3c. landed
&c test, and for late May shipment al
21ac. C, and f., 50 test, equal to 3.S9c
landed for SO test. Holders are now
asking 4c for Porto Rico centrifugall
and equal to 1880. to 1880 landed fo
Cubas, May-June shipment, basis 81
test
A very considerable business, be
lieved to amount to about $4,000 tons
has been put through within fort
night or so in Java crop sugar fol
June-July shipment at los. 1bd., los
3D., los 412d., and uD to los Cd, equa
to 394c to 402c. per Id. duty paid, 81
test. The Java holders, by maintain
ing firm position throughout the de
pressed period, are now able to MAKE
sales on their own terms, the require
ments. for consumption late in the yea
showing necessity of importations o
full duty-paying cane or beet sugars L
a larger extent than anticipated