The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1917-11-30
Commission GOES
INTO MARKET AND
PAYSHIGHERPRICE
International Sugar Men Buy
Raws and Pay Bigger Prices
Than Refiners Offer

Tn the sugar market conditions still
remained chaotic at the middle of the
month, and the strange anomaly was
presented of the international sugar
commission going into the market and
making purchases at a higher price
than it had fixed aud considerably
higher than the refiners were offering
under special permission. For beet SUI
gar the lower price was slowly working
eastward and had reached Pittsburgh.
These are some of the enlightenin :
points of information contained in the
weekly letter which local sugar
agency received early this week from
its New York representative. The let.
ter was dated November Is and said /:
Commission Enters Market .
AT last we are able to report some
thing doing in this market for the in,
tetnational sugar commission has itself
purchased 2200 tons of Perus, 200 bags
of Cubas centrifugals, and l760 tons Of
Philippines in transit, all on the basis
Of $50 cents duty paid. These sales
were only made after an attempt, so
rnmor had it, TO establish lower basis
lad failed. Negotiations have been I'M
der way with the Cuban representa-.
tives this week, and il is generally be-
lieved on the street that compromise
on 4.62IS cents F. o. B. Cuba has re-
suited. The American has increased its
basis price offer at New Orleans to 6.35
cents, but whether or not the Louisiana
interests will see fit to change their
ideas remain to be seen. Meanwhile
tonnage chartered to bring sugar from
New Orleans to New York is lying at
the former port idle. Harmonizing
such antagonistie elements ms the
Louisiana planters and the so-called
"Sugar Trust" is some job. The beet
sugar companies are doing their best to
meet the famine in sugar as far east as
Pittsburgh on the 7.25 cents basis plus
New York freights. So, -. ~,
Refined Sugar Short b.. ...'r9Et ....,.
Refined sugar is still being doled out
by those refiners who have any at S.35
cents basis. A considerable quantity
of export sugar has been retrieved and
put on the market at $50 cents, the re-.
puted cost price to the original pur-
chasers, with the understanding that it
is to be Tetailed at not more than nine
and half cents per pound. Sugar
brokers generally are much disgruntled
over the disposition of the sugar COM
mission to ignore their existence. The
complaint is that those who have shown
q Willingness to meet every wish of the
commissioners and assist to the best of
their ability by refraining from doing
business without permission and find
ing their business slipping away from
them and into the hands of others not
20 serupulous. The fact that the com.
mission finds itself utterly powerless
TO control those who choose to be de-
fant is not at all soothing to those who
have been loyal. Much indignation is
expressed over the sale at auction by
the United States appraiser s store of a
big lot of sample at the forbidden price
of is cents to 20 cents per pound. a.
The freighting of sugar is matter
which is causing much concern and en-
erEetic steps are being taken at Wash
ington to impress upon the proper au7
thorities the Importance of providing
satisfactory tonnage in place of that
which has been Communicated.