The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1917-06-22

EAST OPpOSEDTO
DRAWBACK REPEAL
Claim lis Made That Proposed
Measure Would Send Business
ToEanadianR eflneries
TARIFF AND EXCISE TAX
Ri. DOMINATE SUGAR MARKET
lava Shipments Likely To Go To
United States BY Way Of
PacifiCInstead ofEbrope

Refners are up in arms over the
provision in the War Revenue Bill and
claim that business now done in the
United States will 20 TO Canadian re-
'fiheries. The same Influences that gov.
/ erned the market the previous week
4 governed il during the first week in
June. Java sugar may enter the
United States through Pacific coast
heretofore. These are some of the in
,teresting statements contained in the
weekly letter sent by its New York
house to a local sugar agency under
date of June s. This letter says:
! 'fThe same influences which have
been potent for the past few weeks
siill hold this market in thrall. Tariff
aud excise questions remain unsettled,
the heavy stocks of raw sugar in pos
session of rehners and importers con
ttinue to exercise a depressing influence
4 ongpTices while good harvesting wealth
er in 'Cdba almost up to date permits
shgar to be made that under normal
conditions would not be made until next
crop year. .+ .|..r -"
- Redners are up in arms against
the proposed abolition of the drawback
privileges which Is probably what Sen
\ ator Broussard of Louisiana calculated
Upon when he had the amendment In
sOrporated in the War Revenue Bill.
As IL puts all domestic sugars on an
export parity with hitherto favored
full duty and Cuba sugafs 1t will be
| Of interest, In the event of the amend
ment being retained in the bill, to
see how it will affect the prices of
| these sugars and especially beet sugar.
so long as war conditions prevail the
immediate effect will be to drive all
export gfanaiated business from Amer
Eican 10 Canadian refiners and, under
the same conditions, it is scarcely to
be believed that Javas win 60 in any
great quantities TO Europe when we
consider that tonnage is getting
scarcer every day At a pinch, of
| course, II Is possible that Javas may
come into the United States through
the back door via ports on the Pacific
Ocean Just ms wheat is coming there
from Australia to relieve the shortage
now threatened because of possible
failure of our own crops, but there Is
so much of the nebulons in any specu'
lations one may indulge in that 1t is
rather profitable to do so.
| 'GAll of this week the market for
raw q sugars has been under pressure.
Last Saturday lot Of 5000 bags Porto
Rieos 'tin Distress were sold at Phil
adelphia to the Pennsylvania Sugar
Co. at 5.73 cents G. i. F.. and since then
other lots from the same source more
or, less Gin distress" have been sold
at SIT cents. 'Cubas have held better
fbut the indifference of re6ners due to
their we'll fortified position and poor
domestic business have combined TO
force prices down. To-day the market
is quiet with buyers at rs cents c.
& r. for Cubas and sellers at a 1915
cents while prompt Porto Rico are sala-
BILE at 4.S3 cents c. i, F, and a sale
today of 10000 bags for late June ship
ment at SIT cents @, /. +. has been
put through. 49,. ,.I.. ID,
80 Cubas are still in some demand for
Europe at 1876 f. o, iB. June loading,
but the snap has gone cut Of this bust
ness also. ~ 4.h.. r..
a4Figures from Cuba for the week
ending 2nd instant are; A,,..... 81.