Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1911-09-09
Interesting Coincidence at End
of Twenty.Year Period
Drop In 81.
REVIEW OF BUSINESS
ACTIVITY FOR WEEK
Stocks Strongs But Not So Ac-
tive as Might Be Expected
ExtraS-SaIeS-HiIo Con-
tract-GeneraI Trade.


Not since November 1, 1890, has the
price of sugar equaled the figure that
II has reached during the last week.
On that date sugar was quoted at
5.S75. II continued at a high figure
up to and including March 81, 1891,
when 1t was quoted at 5.6S.
The next day, or April /, 1891, the
Mckinley bill went into effect, with
its sugar reciprocity features, and
sugar dropped overnight to 1925.
Going back to the records of his
tory is not altogether inspiring, II
there is any probability of history
repeating itself as regards lower
duty on raw sugars. 1t Is an inter-
esting coincidence that sugar should
be so high when Congress- is discuss
ing the tariff. The probability OF this
repetition, however, is not strong, as
conditions are different as regards the
known attitude of the President. Nc
Kinley accepted the reciprocity idea
because 1t was accompanied with the
bounty for home grown beet sugar.
This bounty scheme is out of date,
and President Taft Is not at all en-
Unused over the idea of killing off the
sugar industry of the mainland, Ha-
wall or the Philippines.
The price of raws this week has
been soaring, finally reaching 5.75.
with beets approaching close parity
to six cents. The cause for this is
the condition of the beet crop In Eu-
rope. The dry weather has all but
ruined the crop, and now comes the
report that the excessively dry
weather has seriously injured the beet
seed. This means that the beet crop
will require more than a year to re-
cover its normal condition.
Cuban planters have ample con-
fidence in the future high price OF
sugar. They are holding out for a
price that means four cent sugar next
spring. The latest sugar circular of
the Czarnikow- Rionda Company dis
cusses the sugar situation under date
OF Aug. IS as follows:
Our last report was dated 18th Aug
ust.
A very strong and advancing mar
ket continues to prevail here, and not
withstanding the setback In Europe,
where quotations at one time de-
clined to las. 1lad. for present crop,
sellers Of Cubas and Porto Ricos sue
ceeded in securing their limits of 3.56C
C. I. and 4.92c. C. l, T., respectively
basis 96 deg, for the few sugars they
had under offer. Tho to,al sales for
the week aggregate only about 5000
tons, and at tho c!osc holders are Of
fering only sparing'y ut tho equiva'
lent OF 49Sc. lanie |, the greater por'
ton OF the available supplies having
been withdrawn from the marke
pending further developments in Eu
rope. The crop situation there has
become a very serious one, and unless
radical change takes place in the
weather, prices may go to still high
err level. Holders, however, must beal
In mind that the sharp advance ex
perienced since the beginning OF Jul!
has to some extent discounted the es
timated deficit in outturn caused b.
the severe drought. and that conse
Iue"ay a"' iu,'"e' a'".o ,""' na.
"Ne p,"oe "n oe ."
sauua' '""'"'''' ina" '""' "'''"'
i''o'u'u'
win a large shortage IN sight, Eu
rope VIII require 10 enter the can
sugar markets Tor supplies ana VIII
naturally resort 10 ouoas' which ar
generaiiy cheaper thah any other sue
airs during the crop months In an
tlcipatoh OF ms prospective aeh'ahe
pupah pian'ers are not YET o'spose
70 part win tne'r sugars Oh next Gro
IN spite OF tne very r.ihunera',V
prices bnyers are wiling 10 pay 10
thein, anu p,as o, -,soc, l. IT, 10
January fepruary March ship'hei
have been refused The weather 1