Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1911-07-29
IN BUSINESS CIRCLES ire,

History repeating itself in the sugar
market is noted when Comparing the
unexpected conditions of today with
those OF the season of 19O4-5. The
similarity is remarkable and not al
together pleasant as, following the
very high prices of 1905 the price
took a slump to the lowest figure for
many years.
The past week has witnessed fur
Their advances In the price of both
centrifugals and beets. Weather con-
ditions In Europe have caused beets
to lead the way until now the price is
getting suggestively near five cents
When looking over a. chart giving
the record of the sugar prices for the
past ten years, the closeness with
which the lines for the present year
are following those of 1904 is re-
markable. That was the year when
the failure of the beet crop caused
the price to steadily advance till II
reached Ave cents, and then in Feb
ruary Il began to slump unGer the In
fuence of increased paintings in Eu-
rope and finally dropped to three
cents and a fraction.
Under ordinary conditions the pres
ent advancing and high prices of
sugar would set Honolulu into one
of the greatest booms on record. I'm
der the circumstances of the higher
prices coming at a time when Con-
gress is discussing the downward re-
vision of the tariff, the situation is not
viewed with unmixed pleasure. Some
people are almost beginning to be-
lieve that the world market manipu-
lators are forcing the price up 80 as
to raise the price of refined and thus
: give the free sugar people leg to
stand on. which they have not under
normal conditions.
This is OF course entirely imprOba-
BILE. Weather In Europe and the poor
condition of the beets Is doing the
business on the sugar price. There Is.
however, one thing to bear In mind.
A few days of good weather during
the next few weeks may bring the
beet crop up to its expectations and
change the whole situation. Gam
bling on what the weather in Europe
will do IL as doubtful as fOrecasting
the action Of Congress.
Events are moving so rapidly In the
sugar world that the information Of
the sugar circulars is considerably
out of date by the time the circulars
reach u.s. They are valuable, how
ever, as indicating the trend OF affairs
and what the leading experts think
of the market future.
Comment In the sugar circulars
'centers on the European beet situa-
ton. Under date of July IA, the
Federal Reporter says:
Europe-The markets continued to
advance. and touched Us AID for
July, lbs SID for August and lis
Ind for acknowledgements. Since
then there has been some slight re-
action, and the market is rather quiet
err In tone. Mr.. +. O. LIGHT cables us
that the weather Is unfavorable for
growing beets. The market closes
quiet, as follows:
July buyers, 12s lid, equals 4.57c
duty paid New York.
August buyers, 12s 2%d,, equals
40 duty paid New York.
OctObcr-December buyers, lis 3hd,
equals 439c duty paid New York;
January-March buyers. lis AID,
equals 44oc duty paid New York,
One OF our European correspond
ents writes us, under date of July Sth.
as follows:
Here we have had a strong and
excited market. Spectators have
started the buying in the first in
stance on reports of damage to the
Bohemian crop. This damage is GER
tainly serious. There is also alarm
shown In Middle and Northern Ger
many, and there have been d good
many buying orders from farmers
and lubricants there for this reason
Speculation has rushed the market
very much during the last week. and
at the time of writing 1t is very un-
settled, 1t remains to he seen how
much the weather, should It be favor
able, can make up the leeway."
Another European concern writes
their New York correspondents as fol-
lows, under the same date:
1--WE have had "A strong. rising and
sometimes excited market this week.
The rains mentioned in our last have
been of short Duration and the re-
newed Complaints of drought in Der
many and Austria, together with a