Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-11-19

government will now abolish the i'm
port duty on Spanish sugar. F..
There is nc, special news from Aus;
tria. =ss-,@ - -. .4s .s :. +.
.The German crop is now coming
forward mostly I'M satisfactory way.
We hear, however, from the east that
the drought in June-August has had
some influence 50 that the estimate of
Mr.. LIGHT will not be reached"
fLicht's estimate was $500. 900 tons,
against Willett & Gray's of 2,00g, 900
tOns.-W q G.D
We give herewisf, our European
beet crop estimates as they apply to
each and every beet producing conns
try Also interesting reports as TO the
harvesting Of these crops under war
conditions. The weather Is quite fay-
orable for good crop conditions.
The Louisiana crop IS being rapid
" made without meeting its usual
prompt delivery market conditions,
and hence is accumuiating unsold,
which may prove. an advantage to
planters In the end If able to carry it
along or arrange for its being refined
on the toll principle,
The basis of this toll arrangement,
as we understand it is for the refiner
to take the, raw sugar from the plant
er and refine same, allowing the plant.
er SO lbs. of graduated for 100 lbs.
raws, the planter paving the refiner
az per ID. for cost of refining, pack
ing, labor. etc.
We understand tlfs is being done to
some extent by the Gramercy refinery
in Louisiana, and oilers to do the same
are reported made by the Federal re-
Iinery, New York, and declined by the
planters.
Our Philippine cable is important in
it's estimate of increased crop outturn,
1884, as the largest for several
years.
All reports from Cuba favor the out
turn of q full crop. i
Supply and Demand. % ,5s
The recent episode of the remark
able rise in the price Of sugar from
228c per h. to 1s2c per ID. III bond.
from August IS; 20 18th, and the equal
II remarkable decline from 5 lie Aug
|ust 18th to 2.44c November End, viii
long be quoted and used in various
instances as the most instructive proof
of the proposition that supply and
demand control and make prices. -"
The supply and demand conditions
on August 1st made the price 2.2Sc,
and the supply and demand conditions
on November End also made the price
of 2.44c per ID. AS developed later.
there was at no time between August
/ and November any important
change in the actual supply conditions
that should have called for the adj
vance in prices that, was made. The
visible supplies of sugar We're so large
at the beginning of the last sugar
campaign as to bring the price of sug.
ar down to or below the cost of pro-
luction .... =" =. z, 8.
The price had recovered slightly to-
2.2Sc August 1, the supplies had not
been drawn upon to any unusual ex.
tent, and the 22Sc price was then q.
normal value on the supply and de.
mand basis. RE- - 4
Between August and November q
the visible supplies had been drawn
upon to some further extent, but still
sufficient supplies remained to meet
the demands as to warrant the 2.44c
value again. y -. ...~E ..ss.> = =.
What caused the intermediate rise
in price of over 100 per cent?
1t was simply the mistaken sudden
conviction that took possession OF
Great Britain and the United States
that because of the cutting on of Euro
pean beet sugar supplies the cane sug.
ar supplies would be insufficient for
the demands of the two countries.
Immediate action to possess the sup
plies at any cost soon developed the
unchanged facts that supplies were