Honolulu Republican, Volume IV, Number 501, 19 Ianuali 1902 — RAW SUGAR IS LOWER SAY WILLET AND GRAY [ARTICLE]

RAW SUGAR IS LOWER SAY WILLET AND GRAY

i spe<c;al to T NEW YORK Jamaary 3—Raws de-f ■ | cllned 1-32’ this w«k. Refined ir-, : regular. Net cash quotations are; ; Muscovados 3-16 c; Centrifugals ! i 625 c: Granulated 4-4*t-4.5«c. Receipts. 24.569 tOT> Melting?. 12 '”>•< tons Total stock in Four Ports, , . 130.623 tons against Il» •‘••4 tuns last ( 1 week. and 69.202 tons « Bs~-t snzar quotations, f. o. b. Ham- , berg. jgd per c*t for leg anal- ( ysis. First mark? German Granulat-•-d {. •> h Hamburg *s A !-. 1. equal i 4.29 c. New York, duty pari. ( Estimated afloats to the United . States from Cuba and W-si Indies. 15.000 tons; Javas It* ""0 tons. Hawaii. ton; ■ E- - Peru. Demerara. a- , 25.000 tons; total 75.000 tons, against 90,- , 000 tons last year. ( Spot Foreign Granulated —The demand is light and the amply very small. Fine Austrian. 4.30 c asked. ( For import Dutch Granulated, prompt shipment. 10s. 10 12d c and f. F;ne Austrian Granulated for prompt shipment. 10s. c and f. This week’s summary of the statistical position shows stocks in the ( j United States and Cuba together of , 160.633 tons, against 143.064 tons last i week and 70.402 tons last year, an increase of 81.231 tons over last year. Statistics by Special Cables. Cuba—The six principal ports | Receipts. 6.000 tons; Exports. 800 I tons; Stock. 30.000 tons, against 10- | 200 tons last year; 50 Centrals grind- ■ ing against 48 last year. . Europe—Stocks. 6.623.000 ton|. against 2.147.549 tons last year. Total stocks of Europe and America, i 2.783.633 tons against 2,226.951 tons last year at the same uneven dates ' and 2,367.756 tons at the even date of; 1 Dec. 1. 1900. The excess of stock is j i 556.682 tons, against an excess of I 541,322 tons last week, and a defied ency of 86.983 tons Den mber 27th, , 1 1900. II Hamburg—l.ooo tons raw shipped ‘to America. No engagements, 450 ( tons refined shipped. Review of Raws. i The year just closed proved to be ' such that raw sugars made a con-, j slant and regular decline from its ; beginning to its ending. The new j year opens with a surplus amount of ! sugars in sight for its consumption a ! great deal larger than ever before, as well as at the lowest prices ever recorded. both for cane and beet su- j gars. Were it not that prices are 1 below the cost of production in all j ; parts of the world, it would naturally be expected that lower prices would prevail during the coming campaign. ! but being so low. there is little room i left for further decline without ruin ; to producers in all directions. Hence it would seem possible that even with . such immense quantities of sugar in sight, some means may be devised to check a further decline to material extent we are inclined to think the prices arc near the bottom and, while we look for no material improvement under existing conditions, we can se<* a fairly steady market ahead. Beet sugar further declined to 6s 6d. the lowest price yet. Cuban Sugar Held Back. Cuba has begun to turn her present I cane crop into sugar, under these unfavorable conditions, but thus far none of the new crop has arrived in ; the United States, and wherever pos-' sible the planters will be disposed to hold it back for reduction of duty. This condition may also tend to check a further decline. Th*’ British West Indies are sending some sugars forward, the first of which have already arrived and a i portion have been sold this week at 3\c for 96 per cent centrifugals, showing l-32c decline for the week ! Other receivers will place their snY gars in store rather than sell on the i) terms which buyers now offer. [i The Brazil crop has come freely to f[ market and has bon rapidly disposed K!

'te Republican. 1 of. leaving very little for saie. The Java crop has also well nigh arrived, and little is said, as yet. re-ga-'ling th“ next s-ason’s crop. Hawaii and Porto Rico. Porto Rico has received the full! benefit in prices of the duty taken; off entirely from her production, the J am uni of production being too small, to make ar y impression upon quota : tions. The Hawaiian Island crop of the year received, also, full benefit at-' taching to free sugars and the coming crop, during January and later will. also, have the sani“ benefit. It; only remains as far as adjustment of duties are concerned for Congress to decide what shall be done for the Cu ! ban and Philippine interests, which questions are now up for discussion, with the probability of decision in i favor of both these countries before the present session of Congress ends. Consumption cf Sugar. We give herewith our annual fig ures of the sugar trade of th-» United Sta‘- s They show the total con-; sumption of all sugar, foreign and domestic in the entire country, in-' tluding the Pacific Coast, to havej been 2. 372.316 tens, against 2.219.847 tons in 1900. an increase of 152.469 tons, or say 6.87 p-r cent increase. The consumption of 19*>1 consisted of i 292.150 tons domestic cane sugar. 124. I 859 tons domestic beet sugar. 5.000] tons maple sugar. 17.977 tons molass-| es sugar, a total of 439.986 tons d» mestic production and 1.672.429 tons of j foreign cane sugar, 217.286 tons of foreign raw beet sugar and 42.515 tons of foreign refined, a total of 1932.330 tons of sugar from foreign countries and Insular Possessions (of; which 309.070 tons Hawaiian. 66.279; tons Porto Rican and 5.100 ton-- Phil-| ippine). The amount of refined sugar which 1 went into consumption in 1901 was 2.-] 287.828 tons. < f which the American, Sugar Refining Co. manufactured 1.-j 325.406 tons, or 57.9 per cent.; th- 1 in-; (’‘-pendint refiners 812."48 tons, or 35.5 per cent.; the beet sugar fac- j 1 tories. which make refined sugar. 1"7 859 tons, or 4.7 per cent., and the foreign refiners 42.515 tons, or 1.9 per cent.: 84.}ss tons w-re consumed in ] the raw or plantation condition. The i undistributed stock of refill* d sugar we estimate at 30.000 tons, against I 30,000 tons last year. The most important of the independent refiners is the National S. R. Co., having manufactured 276.000 tons r fined. The difference between raw and refined in 1901 aveyaged 1.003 c. per lb., against .754 c. per lb. in 1900. Trust’s Annual Meeting. In 1900 the total amount of refined sugar which went into consumption was 2.219.847 tons of which the American Sugar Refining Company manufactured 1.465.349 tons, or 68.5 per cent.; the independent refiners 627. | 137 tons, or 28.7 per cent; the beet I sugar factories, which make refined | Migar. 68.386 tons, or 3.1 per cent, land the foreign refiners 17.743 tons, or .3 per cent. There were 51,232 | tons consumed in the raw or plantatin condition. The annual meeting of this com I pany w ill held in Jersey City on Wednesday. January Sth. at no; n. At this meeting two directors are to be elected in place of Mf. John E. Parsons and Mr. Lowell M. Palm r whose terms of office will then expire. These gentlemen will doubtless be reelected directors as the board unanimously recommend such action. Duty or> Cuban Sugar. The proposition to make Cuba su- ; cars free is gaining friends daily. Mr. I Oxnard, realizing the strength of this movement, has made a counter proposition that duties remain as they are. but that a bounty be paid by our . government to Cuban planters on their production of sugar. We now merely quote from the Washington dispatch of January 2do 1902. to the New York Herald.” as follows. Senator Platt, of Connecticut, had long conference with President : Rees veil b day on the Cuban sttuaI non On coming away from the White House he said, in answer to a ■ on* -ten concerning the proposed bounty to Cuban planters. 1 have not heflrd that anybody is v< ry en thusiastir over th • proposition ex- ! cept Mr. Oxnard ”