Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1909-03-11
SUGAR


Willett 4 GRAY, under date of Feb.
ruary 10. report as follows on the
sugar market:
Visible supply.-Total stock Of Eu
rope and America. 3.G0S,iO3 tons,
against $3.50. $3.50 tons last year ut the
same uneven dates. The increase ~!
stock Is S,l73 tons, against an Increase
of 7.cei tons last week Total stocks
and aAoats together show visible
supply of 3,7Oi, 403 tons. against asa.
$3.50 tons last year, or an increase of
1924 tons.
Raws.-The feature of the week
under review is the large Cuba crop
receipts at the shipping ports say 6i,.
600 tons at the six ports. and entire re.
ceipts at all ports to the end Of Janu
airy of 23S 37S tons against iSZ,12i tons
to same time last year, an increase of
10G,25i tons and a decrease Of 5000
tons from the receipts of the crop of
1907.
We refer TO this in another column
and give forecast of an increase In our
estimate of total crop against first cs.
innate of 100000 tons.
II may interest our constituents To
know that we are now receiving re.
plies to series Of questions sent Ia
all parts of the Island giving the prog
ress made 10 this date. and will have
In few days sufficient information on
which to base u new estimate Of out
turn. Thus far all reports show i'm
proved crop prospects.
Under the influence of these returns
our market has declined the balance OF
the lice. per pound so long anIicipat
ed by buyers. and large bucin 1ss has
been done the last few days ~ 2Mc
per pound. 90 test basis, equal to 3.Glc
per pound landed. Last year AT this
| time the spot quotation was 3.GIc. III,
lowest point Of the season. and from
which point steady prolOngc i'm
prOvement set In. Owing to the mucl
larger crop this season the prize, has
gone lower and the improvement Is
still delayed, although prcscp; values
are Doc. per pound below the Ham
burg parity.
At the close rcfnor O'eioraD sol,
10000 bags spot sugar, which Il was
incOnyenient to handle on account al
the large receipts. to Arbuclle at 2hc
c. and {. equal 1861 landed.
Europe has shown an easier tcnden
cy during the week closing ut los. fGi
this ana next month tparity i11c pei
pounU and los. / ed. for May delivery
| Cuba Is deriving no benefit whatever
from the reciprocity advantage rivor
her, even selling NC. per pound below
that advantage without fceiinG al.S
competition from any source. appear
Ing To be satisfied II II can obtain cos
of production. Under these condition!
1t is rumored that the Ways and Mean,
Committee are considering the dG.ni
away with Cuban reciprocity and max
ing a maximum and minimum sugar
duty schedule. the minimum to apply
10 Cuba and other countries with which
reciprocity and making maximum
and minimum sugar duty schedule, tho
minimum to apply to Cuba and Other
countries with which reciprocity may
be desirable. Evidently Presldentelect
Taft will insist on special tariff con
cession for Cuba.
We consider IL virtually settled tina
100000 tons Of Philippine sugar vii
be admitted free of duty. judging by
precedent where free duty has beer
given, the present crop of 1900 ton.
will cross 100000 tons In two years
when 1t will become necessary to an
portion the 100000 tons for export I,
the United States to the various pro
ducers, as Is done In Russia, by trans
ferable certificates.
1t will be well If the Ways ant
Means Committee can Incorporate thl,
into the bill, as persons going Into tn,
Islands to raise sugar will wish I,
know this In advance.
San Domingo sugars are being shin
ped to the United Kingdom. The cues
ton now is will Cuba sugar go there
In competition with Javas and othe
cane sugars which are Ale. per 10
pounds above the parity of Cubas here
The excess freight to United Kine
down Is to &c per 100 pounds owe
New York. which added to the 34c. pcI
100 pounds rociprocal-benent, bring
Cuban exports TO the United Kingdom
at or about practical limits. Any sucl
export however would soon cease b,
an advance In Cuban values. All tn,
Cuba crop Is wanted for the Unite,
States, and the diversion of any of I
must be replaced later by importation
of foreign sugars.