Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1911-09-30

The supply NJ nearby sugars Is prac
t!cally exhausted The beet sugar par.
| lily is l2c. per 100 lbs. above centrifu.
gals. Javas unsold. for arrival. ar,
held out Of the market Offers oi
Javas during the week were ut iSs. 3d
e. t. f. for August shipment t5.GSc.
ana ut iSs. for later shipment
European beet sugars were Offered
during the week for prompt shipment
at 1873 Cd. g. |. f. l5S7cD. but are sine,
Withdrawn. There is a fair amount OF
sugar Offering for November shipment
at 525c. for Louisianas. 5.i5c. fol
Demeraras and 5.65c. for Brazils.
Some San Domingos UO0O bags) and
Porto Ricos 1868 bags). arrived at New
York, were taken ON Tuesday. eN
wharf, at 5Sic.. basis 90 degrees. by q
Boston rehner. but the quantity Is toe
small to influence quotations.
Since then. however, sales OF prompt
sugars at 57jc., basis 9G degrees. es-
tablishes unchanged spot quotations for
the week
At the close there Is report cur
rent that BraZils have been sold to q
New York refiner to the amount OF
about 10000 tons. part October ship
ment, guaranteed at IFS. 3D. c. 4 +
t5.46c), and part October November
shipment at IFS. c. Il {. (5.4ic).
A further advance In raw sugars for
September October may be expected II
European quotations are maintained OF
advanced.
United States receipts for week were
1852 lions. against melting require
ments of $4,000 tons. Total stocks In
United States and cuba together re-
duced to 144,5G2 tons. against 17O.741
tons last week and 325.539 tons last
year.
Note remarks herewith on previous
high price campaigns of interest at this
time and special foreign correspond
ence. Also Java. crop figures, etc.
Crop news outside of Europe Is UNI
important this week. although Cuba
calls attention to need of more rains
The consumption Of sugar In the
United States does not seem to be af-
fected thus far. although complaints
begin to be heard from the country as
to the large advances necessitated by
the European situation. from which no
relief Is In sight at present.
otto LIGHT, as given elsewhere. puts
out the first expert preliminary estl-
mate of the European beet crops.
He relies on favorable weather con-
ditions following the first of Septem-
Der for maximum crop of 1890. O0O
tons. or II weather conditions prove un
favorable minimum crop OF G,250.00C
tons.
High Price Campaigns.
Referring to the statement last week
of highest prices for sugar In 1889
when beet sugar sold at 2Ss. I'D.
per cwt. (. o. b. Hamburg, we recall
that in that year conditions up to
April and May were normal. Then
short crop reports began to be consid-
cred, and beet sugar syndicate was
formed i'm Europe to put up prices.
corner the market and force American
refiners to come to them for supplies.
Advance followed advance until on
June ~ quotations reached 2Ss. / cd,
centrlfugals SO6c. per ID. and granu-
lated 9.OGc. per ID.
Then the syndicate discovered that
a lao, "A 81, A.
on the rise to accumulate from all
sources very heavy stocks. making
them Independent of Europe. and a
collapse of the speculation came i'm
mediately. Beets declined In two
week panic to 1873. I'd. e Lice. per ID.
decline). and was only checked by
banks giving the syndicate an extern
sion for settlement until September 10.
The liquidation continued on n de-
cliping market. until September to De-
cember saw Its end at quotations of
l3s lid. to lis. Slid.
Prices ruled high. however. for sew
cral years following. and In 1898
reached i9s., descending In 1905 to IS.
Slid.
Present quotations are as high as In
1898, at the middle of the campaign.
In June of that year. Starting the
present campaign at its beginning In
September at 1873, there are possibili-
ties of quotations during the entire
campaign which can not be estimated
until the present uncertain knowledge
of the size of the European beet crop
becomes more fully developed. It would
seem, however. that the present spec
ulators In Europe have confidence In
considerably higher quotations and lit
tie fear of serious setback from the
present level. on the contrary, the
drought which has affected the beet
roots has also quite as severely affect
ed the crop Of beet seed for next sea
sons paintings. which fact may delay
u return to former low values for an
other season.
With the incoming of our domestic
cane and beet crops In November and
Demeraras, Cubas and Porto Ricos In
December, the U. S. will be somewhat
Independent of European conditions,