The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1912-04-18
.WILLETT 8 GRAY
ON THE MARKET

Wv I'LL uliuIlNGl
Wnlett g. Grays review OF the sugar
market. under date OF April, is gen
orally indicative Of belief that prices
are likely ~ remain fairly steady for
some time. The report follows.
Market conditions call for little at.
tention. Quotations remained UNI
changed until today at 1860 per 10.
duty paid, basis SO deg and Sc. C. q
T. for Cubas Actual business was
small, and the unsold offerings were
large at these quotations. The tariff
agitation is mostly responsible for the
anxiety to sell, noticed particularly
from Porto Rico. We print our final
estimate of the last domestic beet
crop, 511,101 tons. against former es-
innate of $4,000 tons published in
January. The crop outturn is S5,SS1
tons larger than any previous crop.
The latest Cuba figures of crop re-
oeipts and weather reports point to
the full 100000 tons with continu-
ed suitable weather for grinding as
previously estimated, and call for no
comment.
European beet sugar touched a
lower point than last week as down
ward reaction and closes at las. 4l2d
(j.O6c.) for April, Ids. SGD (5.0ScD
for May and las 6%d. (51lc) for
August. The August quotations APP
pear to indicate that prices are likely
to be sustained to the end Of the cam
paign in the sugar exchanges.
This can only result from the ac-
tual scarcity of supplies in August,
as relief is sure to CONS rom imports
of Russia sugars Immediately in Sep
tember.
Easter holidays come earlier than
last year, and their close next week
will no doubt find more centrals
working in Cuba than last year CAD
at corresponding time.
Some nearby San Domingo centri-
fugals are reported sold at 14s. 11ad.
c. f. & l. to Liverpool equal to 2.92c.
c. & f. to New York.
AT the close of Cubas ahoat sold
at 2.94c. c. & f. (4.3Oc) making a new
quotation"
Fight in Tariff.
Regarding the tariff, this authority
confirms the cabled news already re-
oeived here, and gives some indication
CT the fight which is being made in
the Senate against the Underwood
free sugar bill:
The Free Duty Sugar Bill of the
House of Representatives is meeting
with intense opposition rom witnesses
These witnesses, thus far this week,
comprise members of committee from
Louisiana, also Brigadier General Ed,
wards, representing our insular pos.
sessions, testified in behalf of Porto
leo, and will appear again later in
behalf of the Philippines. These wit
nesses advocated no Reduction in
the present sugar rates of duty. Del
egations sent from Porto Rico will &c
| before the committee tomorrow and
delegations from the beet sugar pro
ducing states will follow.
mo bill has yet been considered by
the Senate which includes an inter
nal revenue tax on sugar although
such a change in the collection OF
revenue from sugar must eventually
be considered in conformity with the
practice of all European sugar pro
ducing countries.
"Our special telegram from Wash
ington, d. c., April ,, 1912; "Senat
or Bristow's amendment to the sug
ar bill is practically a substitute. l
eliminates the Dutch standard anc
the differential on refined sugar anc
fixes the duty on sugar testing Il
degrees by the polariscope at nine
tenths of cent per pound and TO
every additional degree % one-thou
santdths of a cent.
After June 80 1915, the additiona
per degree is to be fixed at ? one
hundredths of a cent per pound, AM
after June 80, 1918, at Is one-thou
sandths of a cent. The terms of tn
! reciprocity treaty with Cuba are spe
cifically preserved. The effect is t
give reduction of 20 per cent o
Cuban sugar Senator Bristow say
! that under the terms of his measur
$1521a per hundred pounds would b
. the maximum rate of duty