The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1911-02-13
BETTER OUTLOOK
IN SUGAR MARKET
CONTINUED from page hve)

ton of prices, It may be Of value to
parallel the present situation i'm Cuba
sugars with that Of beet The beet
crop began to come to market in Oc-
tober, and the quotation on the first of
October last for beets was los per cwt.
+. o. b. Hamburg, or equal to Ale
for Centrifugals at New York; but on
the 25th of October the quotation had
declined to 9s. (. o. b. Hamburg, the
recognized cost of production, touch
ing IS. lid. at its lowest point. For
the following three months the beet
sugar market of Europe has virtually
stood still at IS. cost of production,
huctuating occasionally slightly above
and below 9s., showing that the own
ers and producers of beet sugars have
the market well in hand up to the pres
ent time. Following the parallel with
Cuba sugars prices have now declined
to Lie. c. & f., which is within 1-16c.
to 1-Sc. of the average cost of produc-
ton on different estates. 1t would
seem, therefore, that if the Cuban
planters are as we'll fixed for taking
care of their production, as are the
beet producers of Europe, then the
limit of the decline in Cuba is about
touched Regarding such ability, it
may be worthy of note that many of
the planters nowadays obtain their
cash advances for making the crop
from banks and bankers who require
notes payable at fixed periods, and in
sist on their payment when due. In
other years the planters facilities for
making their crop have been given by
factors and commission merchants
who controlled the sales of sugars to
which they made advances, taking
their payments out of the proceeds OF
such sales, thus leaving the obliga
lions of planters to factors much more
elastic as regards payment than those
existing today between planters and
banks.
Also, just now, when sugar is o
such low value, banks and bankers ar,
likely to be even more insistent OF
payment when due. This feature o
the Cuba situation must be considered
therefore, when considering what Pre-
portion of the earlier production o
the island must be forced upon tn
market. Once free, however, fror
such contingencies by the sales of tn
earliest production, the Cuban plante
will be in a position, with his som'
what smaller crop than last year,
take advantage of the difference
parity, which is now 47c. per 100 lb
below what the U. S. refiners woul
have to pay if obliged to bring SUI
plies from European countries. {
u this difference 34c. per 100 lbs.
\ granted Cuba by the Reciprocit
Treaty, so that at present he is onl
the loser of the remaining 13c. per 10
lbs. at which he is selling below tn
G parity of Europe. 1t will follow thi
10 year, as it always has in previou
years of reciprocity with Cuba, tha
t. sooner or later a good part of this di
p ference will be rapidly recovered
probably this year in the month {
h March. After that recovery, the flu
r Their recovery in Cuban prices up
the parity of European markets will /
3 slow and gradual, but at some perio
of the campaign this full recover
must be made, because the Cuba Gre
this year is almost certain to be sma
Ter than last year, when certai
r. amount of foreign sugars had to