Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-12-03
SUGAR
*%+~+.++*%k+.~.s+.

A H' HA
Czarnikow, Macdougaii & Co. report
rs follows on the raw sugar market
under date of November 49,
Our last report was dated 9Th No.
venber.
The sale of Java cargo In port.
while out last Issue was going through
the press. marked further decline OF
about .O3c. In spot quotations.. hut
O2c. of this was recovered on a sub4e.
Quent sale of about 1,15O tons arrived
Cubans at a price equivalent IL 3aic =,
basis SO degree.
Since the passing Of the elections,
and since the energies temporarily ab.
sorbed in political contest have again
become engaged in active business
pursuits, there has been nev awak.
ching of manufacturing industry
throughout the country and general
improvement In markets. To this
peace and Improvement there Is. how.
ever, one exception, for our sugar REIN.
ers have chosen the present time for
fight, which has seriously disorgan.
lied the trade In refined.
The cut of 10 points this week makes
the total reduction in reinei since
election day % to 30 points. This Is
an entire reversal of trade eyrecta-
tons. which looked for an advance
rather than decline, and It has Great.
ed such uncertainty In the minds of
buyers that they are afraid to carry
supplies.
When prices OF raws were last ut
present level. graduated was 1 3dc tn
5.05c. net, as against todays l.80c.
net In other words. Il was .35c. TO .i0c
per pound higher than II Is now. This
state of matters cannot be lasting for
even at present reduced cost OF raws,
there Is a loss in the manufacture VI
refined, and In the majority Of cases
this loss is heightened by the fact that
the raws now being worked up were
bought when prices were at a higher
level.
There are practically no raw sugars
on offer for prompt delivery. In 1906,
when much larger Cuban crop than
the coming one was In sight. the first
parcel OF new crop sugars did not nv.
rive until middle of December. and the
receipts from Cuba between that time
and the end OF the month were only
10000 tons. In these circumstances
Il further decline In raws can hardly be
looked for during what remains of the
present year. and refners' remedy for
their immediate ills must be sougk,
for In an upward movement In the
lrice of their own product
European beet markets were firm
and advancing during the early part Of
the week. but some OF the Improve.
ment has since been lost The October
production In Germany Is reported To
be greater than was expected. To-Day y
{. o. b. quotations are: November, los.
2Ad.; December, los. 2Ad.; January.
March. los. 4iad.; May, los. 6hd.; Aug
ust, los. SID.
Louisiana Our correspondent ele.
graphs that the weather is ideal for
grinding and that receipts at New Or.
leans are large. The market Is quiet nj
a.625c. for refining grade, basis 90 de
gree
Rehned.-.The unsettled conditions
referred to In our previous report have
been aggravated by several further re
auctions In prices this week. the quo
tations OF Arbuckle Bros. and The Fed
eral Sugar Refining Co. being now
i.65c. less ] per cent ;or granulated
while our other refneTs name 4.70c
less l per cent. Owing to the extreme
ly unsatisfactory state of the market
the Trade are limiting their purcha ses
TO their immediate requirements.
Cuba.-Our cable OF date reports the
weather favorable.
ReceLsts for the week ut the three
Atlantic ports, 25,470. Meetings, 45.OOC
tons.