The Hawaiian gazette., 1914-08-28
SUGAR in 7RANsI !
MAKES BIG GAIN
csrgpes Of Steamers PeppsylYas
MAN and Georgian Worth Near
~ Million More Than When
They Left Here.

The Americap-H ewaiiah Company Is
steamers Peppsylyanian and Georgian
arrived at New York last Monday, &C.
cording to adviccs received in Homo
lulu. Both vessels carried a total
cargo of 6fteen thousaId tons of s,l'
gar from these Islands, the price Of
which Increased to the amount Of
sSl6O00 during the voyage from this
port TO the point OF destinetion.
When the sugar was started from
here the price quoted was S:29 or
5000 per ton. When the sugar ar
rived in New York Monday the price
for which IL sold was 6.Ol, or &leQ.O0
per ton. Both cargoes had a value
of 1887 900 when they were PLACED
aboard the ships in Honolulu and other
Island ports This had jumped TO
81 $685. aO when the sugar reached its
destination. M.
Probably mover before in the history
.of the sugar industry in these Islands
has there been such n tremendous adj
vance in such short time In the price
Of its peincipal tproduct, ~
" Means High Average.
II is the belief OF. A. M. Novel;,
secretary and manager of the Sugar
Factors Company, that the rapid rise
| In the price Of sugar in the past few
weeks win result in bringing the aver
age price for the entirp efop Of 5l0,no0
4 tons MP to $3.50 per hundred, or $40
4 pcr ton. Last year the price RYeragcI
| $3.50 per hundred or $40 per ton.
\ About $4,000 tons remained unsold, up
to July 81, at which time about $780,
/ 600 tons had been disposed OF at an
average price Of 800,
The priee of sugar yesterday was
quoted at, 5.77, while refined sugar was
! Quoted at. 7.25. This diffeFence OF
nearly $3.50 per hundred ~ the, price
/ Of raw and refined sugar IS taken here
10 indicate that there Isl stin q strong
demand for sugar and that the price
will not 90 much lower. The rule
heretofore has heen to make the diff
4 ferential between raw and refined su'
car about eighty5Rve cents per hun
1 drcd It is nov nearly double this
amount ea' s.
7 Germany,s supply Not Ayailablo.
"Tt must be 'remeniberea. said onS
of the sugar men Yesterday thai
England produces scarcely q pound Of
sugar, fguratiyely speaking and has
boon compelled to 20 outside its owl
lconfncs to secure Its supply. INIT
1.-the present war Germany has supplies
practically all Of Ehgland's sugar
Now this supply is entirely cut of, ans
England must 80 elsewhere foF u
sugar. $500 80. \, t.,,.l !.
. and Cuba are the most available an
naturally England must come in an'
bid. This Is what i keeping the pric'
of sugar ~ at the present tine, ] ~
not remember any time IN the pas
=. twenty-fvc years or more when sugo
I reached tie high mark Of $50 or NOR,
!, AZ n aid last week. However, 1t Tor
: merly was not uncommon to have su
, oar average six dollars per hundre'
, throuaheut the YEN. ~ s'f%7 4.
Means millions for Hawaii s%
! II is now figured that the last o
4 the present crop Of sugar VIII nav
! been disposed of by October - next
5 | The first of the 1915 crop It is figure
! will begin to move about the last o
! November. 81, Il, !,
aUnforseen circumstances hay
+ worked wonderful traDsformatloH q
. the sugar situation said Q broke
Yesterday. AT tho beginning Of ~
D year our industry was threatened VIII
{ ruin. The price OF sugar was ava
down and threatened TO go lower, 4
face Of this we looked forward TO on
= lbf the worst year in our history
Here we are now winding up with tn
! price away mp and promising TO z
further We viii get an average o
six dollatp pcr Ton nS' fGr our suga
this year than We did in 1918, a gran
! total OF $4,000, 900 that has litnrah
/ rcured into the laps Of the people o
I Ills Territory" ~