The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-11-05
BETTER TONE RULES
IN SUGAR TRADE
Alexander & BaldWin'S New York
Agent Reviews Situation Since
McAdoo's Promise Given

Alexander 4 Baldwin received ycstcr,
day from their New York house the
following resume Of conditions in thI
sugar market up to ten days ago:
"Since September IS the market has
found its bottom on October 3, when
Porto Rico sold at $50 and Cubas at
3.64.. Since then it has rebounded to
l.27 an advance of three.quarter cen 10
p"r pound. Circumstances have almost
reversed themselves in the meantime.
All the breaks have been in favor Of
the bull side. On October 7, Secretary
MCAdoo announced the new policy Of
the administration In favor OF retain.
my the duty on sugar for few years
rs a means Of producing revenue.
1.-THE domestic beet producers of the
Middle West and Michigan were given
encouragement by this announcement
to hold back a portion of their pro
duction instead of trying to sell it all
as soon as the beets were converted in
to sugar, which meant sending it into
every Atlantic coast distributing point
for consumption. They argue now
that the new sugar tariG policy of the
government will allow them to sell
more of their product nearer home,
keeping IL for the usual trade Of their
own territory, which will save as we'll
the necessity of absorbing the higher
frrights to the eastern territory.
Caught Refners Mapping
"The change in selling policy of the
domestic beet producers has already
bought about new circumstances on the
Atlantic Coast. The cane reiners hav-
ing decided that their own markets
were temporarily lost to them, cut
down their MEETINGS to a minimum
They figured that so long as there was
Get sugar pressing for sale in their
own markets, it would be useless to
try to refine the normal amount of pro-
duet. Except in order to fill whatever
foreign orders were on hand, the east
crn refncrs reduced their purchase Of
faws and allowed their raw stocks to
decrease, to almost v. nothing, f2uring
that their own storks of refined shoull
carry them, into next season.
Suddenly the Eastern refinors found
themselves getting a more normal share
of the Atlantic Coast trade. Being
short of nearby raws and forced to have
sugar to meet the increased demands,
they are now forced to pay sellers
Prices for raws.
"The blocking Of the Panama Canal
has delayed for forty days 10000 tons
of IIawaiians in getting to its destina
ton, embarrassing the American Sugar
RCfning Company nv that much.
On Sound Business Basis
Besides the Hawaiian, 10000 tons
Of Peruvian was caught at the Canal,
which are now on the way to United
Kingdom and France. Owners of these
goods were forced to 20 into the Cuban
market and purchase an equivalent
amount of Cubans.
"a brand new policy of getting to-
GCiher on selling terms has been inadS
uratcd by the Eastern cane refncrs. It
has already raised the standard Of
trading, because contract terms are It.
r.Cam what they say and the hate +"
pricing methods eliminated The new
order of affairs will permit everyone,
lrhncrs and the whole trade, TO #"
business on sound business prinrirl,*
While the present rise has been to-"
rapid and forced to he permanent, due
I" conditions as mentioned above, IN
less unforeseen conditions arise. =, lit
ical or natural, after the present MARI
ct has again reached it's normal lev 81
OF supply and demand, there shout be
considerably less violent fluctuations
and much greater stability"