The Hawaiian gazette., 1909-11-16

with fair amount of trading going on
any remarkable extent. Buying orders
ing orders, which indicates healthy CO
Curiously enough, advances in the
price of sugar are not reflected in tho
same direction on the stock market. In
fact, it frequently happens, almost FIRE.
quently enough to establish rule, that
higher sugar means lower stocks. Why
this should be so nobody can say. Per.
haps it may be credited to the natural
perversity of inanimate objects, or
something of that kind.
The Sugar Market.
Be that as it may, the price of sugar
at present is most encouraging, and the
prospects for the new crop are better
than has been the case for years. Cable
quotations from New York yesterday
made cane 4.S6, the parity being 4.59.
The climb has been steady for several
years. On November Ii, 1906, cane was
S.Sl, the parity being 3.s4. On Novem-
Der IA, 1907, cane was $50 with a beet
equivalent of 3.96. The following year,
on the same date, the price of cane was
500, with a parity of 4.16. And now
cane is 4,36, with beet equivalent Of
4.59.
This looks pretty good and presages
much higher opening price for the
new crop for a good many years. On
top of this, the prospects are for an
even larger crop in 1910 than in 1909.
This will make three good crops con-
seeutively, and it is no wonder that
money is so plentiful in Hawaii that
investors are looking anxiously for a
good place to put it and are obliged
to send large amounts to the States for
investment.
Alexander & Baldwin yesterday re-
ceived a most encouraging sugar letter
from New York dealers, dated October
80, from which the following is quoted:
Although 4.45c. is being asked for
spot sugar and held firmly, our basis
is still nominally 4.30c. We are told
that refiners would pay 4.35c. for this
sugar if it could be had at that price.
"There has been steady demand for
new crop Cubans byv English specula-
tors, especially for February and March
shipments. Late yesterday 25.Sc. cost
and freight 90 degree basis equal to
S99c.) was being bid without finding
sellers at that price. Sellers are not
offering sugars today but we believe
business could be done at 11-16c.
| (4.O5c. land in New York; easily for
| March sugars.
"December January shipment. Gu
bans have sold the last few days to the
| Federal and Warner at l1-l6c. cost
and freight SO degree basis (4.O5c. land
| New York;.
"Beet values in London have ad-
vanced materially since our last adj
vices. Yesterday this market closed al
11-9 (4.49c.) for October and 12-2 Ia
| (4.5Sc.) for May sugars The market
was about the same this morning, but
| the cables are a little confusing, al
| though the line was very firm. Wealth
err has been very favorable for growing
crops"
The Stock Market.
The sudden demand for Onomea
| which made itself felt week ago, fell
off as suddenly as it came and the stock
was quiescent throughout the past week,
The main buying orders the previous
week came from San Francisco, and
these suddenly ceased. The price varied
from Sc to $3.50.
Pioneer was fairly steady, with few
transfers. Honokaa ranged from q
| TO 2O.25-a little better than the weei
before, but with little trading in the
stock.
| Hawaiian Commercial was quite &C
tive, and advanced from 24.25 tc
| 34.75. Oahu was one of the most &C
| tive of the listed stocks, with demand
in excess of the supply. The buying
orders were apparently local, as one
large block of San Francisco stock was
offered, though at price considerably
above the market, which prevented it,
sale.
Eva was active but varied little II
price, 30.s7h to 81.
Waialua sold throughout the week al
12l, which, in view of the fact that
tomorrow it will pay a dividend OF
$50 a share, is seemingly a fair price
| McBryde fell off a little toward thu
close of the week, the last sales record
ed being at 4.37h az against an open
ing price of $50. Dealing in othe
stocks was down to minimum, will
little or no variation in prices.
Bond Market Active.
The bond market was more activ
than for several weeks, the transac
tions being of considerable volume.
Dividends Declared.
The Kohala Sugar Company has dc
clared dividend of six per cent. Til
is the first dividend the company ha
paid in about seven years. The las
dividend paid WAS two and half pc
cent.
Paauhau and Hutchinson have de
rlared dividends of 20 cents shar'
each, and Waikiki u dividend Of three
per cent.
Stock transactions.
IIaw. Pine Coo a $3.50.
L = Il. Z 4