Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1911-07-15

never ms Tue depressing poWeT VI
sugar tariff agitation been more i'm
pressive than during the last week.
On top of the splendid condition of
all the sugar properties throughout
the islands has come an advance in
sugar that surprised even the most
optimistic. Beets advanced and centri-
fugals followed to 423. where the
price has held apparently very firm.
This of course assures many extra
diyidends that have been reckoned as
on the list of possibilities. BIZ.
But In spite of all this favoring con-
dition the sugar stock market has not
experienced even passing furry.
Stocks have remained firm and ad-
vancing to be sure but there is gen.
oral lack Of aggressive buying.
This can be accounted for in no
other way than by the fear of tariff
revision, threats of which are being
made almost daily by some member
of the Insurgcnt wing of the Repub-
lican party.
Tariff Legislation.
Just what the status of sugar tariff
revision is likely to be may be fore
cast with some degree of certainty
since Congress on Friday named the
date on which the extra session will
adjourn. This date being set for Au-
gust Z, It is apparent that no tariff
legislation will be passed, unless 1t be
the wool schedule. This means that
the extended and actual tariff fight
will be made next winter during the
regular session. when the represent
atives of the two great parties will
establish the records on which they
intend to go into the National cam
paign.
At present writing the probability of
any radical change in the sugar
schedule is very slight.
Sugar Advancing.
Marked change In the sugar quota
tons for the week has given rise to
a general query as to the cause. A
cablegram received by local sugar
agency says that the prospects for
the new crop beets are unfavorable
for the time being. II is also quite
| possible that the situation has been
influenced by inside and advance in
formation on what Congress was
likely to do in sugar legislation.
The latest information on the sit
uation through mainland sugar cir
culars Is contained In a Czarnikow-
Rionda circular dated June 90, that
reports. on conditions as follows:
During the early part Of the week
continued indifference on the part Of
refiners seemed to indicate that buy.
ing operations on any large scale
were to be deferred for some time
longer. but the tenaclty shown by q
majority Of sellers: In holding Cubas
for 2.62c C. {, basis 90 deg, and Porto
Ricos for the equivalent price Of $3.50
c. l. T., basis 30 deg. was finally re.
warded.
| Gradually hardening prices having
failed to bring out large quantities
our principal buyers came into tn,
market yesterday and took all tn,
sugars that had been put before then
at the above prices. This lead wa,
followed by other refners. The fina
result was transactions aggregatinl
about 100000 tons. and establishing ar
advance of .06c on the closing sales
Of last week. The business done wa.
mainly confined to Cubas and Portc
Ricos for delivery at the Atlanti,
ports, but In some cases contract,
carried the New Orleans option.
| Buyers are resting after their Iarg,
operations and few tardy seller,
pave failed to place their offerings
but as yesterdays clearance has re-
moved all chance Of selling pressur,
ION this side, there is every prospec
that markets here will now rule a
steady to somewhat higher prices.
/ Offers Of Philippine Islands sugars
ahoat. on the basis OF 3.25c G. 1. {.
basis SO deg, and OF Javas for Jul,
clearance at los Sd c. f., basis 90 deg.
are still ignored by refiners, bn
whether or not this policy will resul
IN these sugars being eventually OBJ
tainable at lower prices remains to b,
seen
| The paintings In Cuba have beer
large, and unless present very favor
able weather conditions in the Islam,
should undergo some change. a bump
or crop is confidently expected fol
the next campaign. ,.
The following comparison of pre
sent stocks Of raws with those n
same date In the two preceding year,
may be of Interests:
/ "a 1911. 1910.
U. s. Atlantic ports. 249,75O BIOS,
! Cuba q princ1 ports. 232, 1857 2s1. 90,
II European beet markets have re
NAMED steady, Owing to the holi
days attending the coronation cere
: monies In London. there have beer
no, cabled quotations yesterday or to
day. Wednesdays closing T. q h
prlceS were. luna IN, Oh, -,