The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-06-04
WILLE7T AND GRAy'S
LATEST LETTER.


nal New York; of May 10, received
yesterday, contained the following
concerning the market for raws:
Quotations are unchanged for the
week. at 4.24c per pound, SO deg
test, for spot, and at Use. c. e
May shipment, with June at 2 15-16c
C. e f..
European beets touched Ids. z I'D.
and closed at 14s. 10 I'D, with sew
eral holidays intervening, Future
beets close las. II lad. for June, 15s.
for August, the same high level pre-
viously reached May 9th. Cane Javas
are 1 1-2d below highest point.
A valuable German correspondent
calls our attention to the fact that
the apparent reduced consumption of
the United Kingdom shown by re-
cent figures is misleading, inasmuct
as in 1909 the United Kingdom i'm
ported unusually large quantities dur
ing March April in anticipation Of
a raise in duty rates. These inn
ports. paid duty on arrival and passed
into the consumption figures, re-
naming in the invisible stocks, caus-
ing a sharp reduction In apparent
consumption figures later on. This
year the quite normal, figures for
United Kingdom consumption do not
show any falling off.
This statement is confirmed by our
quotation last week from another
we'll informed correspondent in Liv.
erpool, that the advance in re-
tail prices has not effected the de-
mand. No doubt the United King
dom official figures will adjust them
selves later on to actual conditions.
In fact, our figures of the worlds Wis
ible today show a decrease of only
146,402 tons, against our previous fig
ures, showing 205,47S tons decrease.
If, as appears to be the case, there
were at this time last year 100000
tons more than normal held in the
United Kingdom invisible stocks,
then this quantity should be added to
the visible supply of last year to COM
pare with the visible supply of this
year (now normal, and would thu
show an actual decrease at preseni
time of 246, 4O2 tons.
Mr.. c. Czarnikow, of London, in al
elaborate explanation of this matter
estimates the invisible accumulation
at end of April, 1909, at 141 900 tons
above the normal, and says that for {;
time comparative figures will be "oui
of joint"
This explanation accounts for the
otherwise mysterious reduction in to-
days worlds visible decrease.
Figures for all countries except the
United Kingdom are about normal.
Cuba conditions are not changed by
the weekly cable, giving receipts, 3d.
900 tons and 40 Centrals grinding
The rains, while heavy and important
in some parts, are not sufficient tt
bring the crop to a sudden ending
Some estates will work their utmost
cane limits, but as Cuba receipts will
remain less weekly than our require
ments for MEETINGS, our local visible
stocks, including Cuba, are now a
the highest and will gradually de,
crease.
If &c. C. & f. was not such salts
factory proft-selling price to thu
planters, one might expect to see thu
present difference in parity between
Centrifugals and Beets, 92c. per TO-
lbs, close up rapidly, but it may b,
considered by planters in the loni
run more to the advantage of Cuba t.
increase her crop on the &c. basi
than to try to force the parity differ
ence from buyers and stimulate othe
sugar producing countries to rails
larger crops in competition.
It is now demonstrated that at 81
Cuba not only can sell sugar abroa
but that American refiners can pa
this price for Cuba sugar and expor
its refined product to the U X. unde
conditions like those now prevailing
The strong holders of the balanc
of the crop, however, are likely to dc
mand higher prices.
Elsewhere We note the listing {
the stock of the Federal Sugar Re
fining Co. on the New York Stoc