, 1893-03-11
NEW YORK LETTER.
New York, February l4th 1898.

der review may De gwen ds Ao4lo"S:
On Wednesday the market w"s firm, and a.!
sugars arriving wero taken, at quotations OF
8 l.l6 for SO deg. muscovados, dnd 2 7.l6 for
sc deg centrifugals. Refined sugars were
Quiet and the MEETINGS Of raws were omewhtt
in excess of the deliveries.
On Thursday the market W quiet and
steady as to oargoes aaoat, slightly easier
as to future shipments from Cuba.
On Fridav considerable business was done
in centrifugals a8loat at3 7.16c. Off. aud for
future shipment at BIO. cost and freight. Re-
Gned was in light demand at unchanged prices.
Standard granulatsd is now being P .cksd en-
tirely in ba, rels, while fine granulated is
packed three.fcurlhs in barrels and one..fourth
in bags.
On Saturday the markets for raw and refined
were unchanged, with small transactions.
On Monday market for raws WIS quiet and
steady Err parcels aaoat and near by. In re-
fined eugar q l 16c. decline WAS made in gran
ulated and nearly all other grades. This re.
duction was made IN order to stimulate thu
demand. The American Sugar Refining Com
panv added a new grade of yeltows to thei, list
which they call No. IA and sell at 1850. with.
out rebate. This is evidently lone in order
to compete with the SCOTCH yellow of q sini.
lar grade.
To day the market is quiet and stsldy.
There seems to be a disposition on the part
Of buyers to establish adlffere .ce IN quotations
between centrifugal sugar which is actually
anoat for the United States and that which is
10 be- shipped in the future. rherefors the
transactions of the week inclnde sales at 3
z l6 cents Q. i. f. and at q cents Q. anlt.
The natural tendency Of the market at the
moment is toward the lower quotation for all
sugars.
AS regards refined, the production is now
somewhat ahead of the demand, and a further
reduction in price Is not impo sible, although
not Immediately expected. The reason Of
the smaller demand for refined for thW year
than at the same time last year is probably
due to the fact of the higher prices ruling at
the present time, which induces buying only
on q hand to mouth bAsls, while at the lower
price last year buyers were an 'ioipating an
advance and bought quite heavily tor future
use. OF course, tie demand will equalize
itself later OH.
Regarding the Cuba crop the first month Of
the year shows exports of 1884 tons, and Of
stock sc, 265 tons, together l38,809 tons,
against 14l 1856 ,ons for the same TINS last
year. OF course, if tbs crop is to he short it
will not begin to show the deficiency until
somewhat later in the season.
European markets have remained barely
steady through the week, with very little
doing. Prompt shipments Of beet sugars are
now offered at las. 81. c. j. +. for first, and
Ia. lid. @. and f for seconds. Business has
already been lone in tho uext crop of bepts
Cor delivery next October to December on the
basis Of 13s. lie. to I3s. Sd. free on board,
which shows an estimated value for the new
crop OF ls. or say to. per pound less than pro-
sent prices.
It is O notable featurs. also, Of beet sugar
countries that purchases of graduated sugar
for delivery from the next crop in October to
December have already been made by English
glooers on the basis of Is shilling Al pence to
Is shillings II pence free on board at HIM.
burg. These English grooers always like TO
secure for4delive.ya during those months at
least q portion of their supplies at a price to
enable then to dispose of their purchases at
profit when retailed at 2 pence per pound, or
say14toents per pound for granllatsd.
They can do this by m king their purchases
sodfar q head. AID our American grocsrs oan
do the same if they are sufficiently snterp,i..
ing to aot Is FAR ahead as their English Com
petitors. Of course the German granulated
would cost more than I cents per pound, be-
cause OF the duty which would have to be
paid in the, United States. 1t 10 u somewhat
singular tact th~stpgabsbty not q solitary gro
osr. ipathe United States would dare to pur
;aa y 1872 [193y