Los Angeles herald., 1905-02-17
LOWER ON
ALL BEET SUGAR
FOREIGN MARKETS QUIET AND
NO SPECULATION
Eggs co Down One cent--stoeks Are
More Than Equal to Demand.
Butter Steady and In Good
Supply

ana feHnerS are INFORMED Dy CaDle Judt
London reports a quiet market and
that conditions are not wholly satis-
factory. and also that for the present
all speculative activity seems wholly
eliminated from the situation. While
this fact is accepted, well posted and
interested people say there is some
pressure from old speculative holders
to liquidate their accounts, causing the
tendency of prices to be downward,
they showing a net loss of 2Ad for
February delivery, I'd for March. IND
for May, 2Ad for June and 2%d for
August delivery.
The price quoted for beet sugar for
February delivery, 15s 6hd f. o. b.
Hamburg, is figured the equivalent of
s 5-16c duty paid for centrifugals SO
degree test, so that prices for beet and
cane sugar are again close to parity.
The New York and western market
| for cane sugar continues fiat. A fairly
good line of sugar nearby and for Feb
ruary shipmnet from Cuba amounting
| it is figured to about 100000 bags, could
be purchased at the equivalent of 5Ac
duty paid for centrifugals 96 degree
test At this price refiners, 1t seems,
are not interested, but 1t is understood
that at 3Ac cost and freight for Cuba
centrifugal 96 degree test, which is
equal to about sac duty paid, they
might be ready to purchase fair line
of sugar. The market for sugar for
forward shipments Is steady AS near
as could be learned there is no anxiety
shown by Cuba for either March-April
or April-May shipments; in fact, there
are no reports of offerings. Private
cable advices from Cuba report the
markets holding firm and state that
sales We're made of 5000 bags at 3Bc
cost and freight for centrifugal 96 de-
gree test and $500 bags at 3Ac for 95h
degree test. Nominal quotations in the
local spot market were unchanged at
SIC, 4Ac and 41zc for the three stand
ard grades.
Business in the refined sugar market
continues quiet, but no changes in
New York prices, they holding at 605c
less 1 per cent cash for granulated in
bags or barrels, and the tone of the
market steady. Second hands were
sellers of a limited quantity of sugar at
about ten points below this basis.
There is a moderate call for shipments
on outstanding contracts.
EGGS COME DOWN.-Owing to in
creased receipts of eggs, that yester-
day were 426 cases for the previous
| twenty hours, the egg quotation
committee on the produce exchange
yesterday deemed it expedient to fix
the selling price of eggs at 25 cents.
Opinion prevails that If eggs are to
| be cheaper now is the period when the
declines gradually should follow. Bad
roads may temporarily make a differ
ence in receipts, but 1t is argued that
the warmer weather will cause in
creased laying and that as soon as all
| the roads are in good condition the in
rush of eggs will be great. causing
prices to recede to point where stor-
i ing will be possible. Still the fact must
be remembered that the best period for
storing is April, when eggs are in their
prime. What prices may then be is
lproblem. In cold storage just now
there are scarcely 200 cases of eggs,
and these are probably eastern of an
cient and undecided vintage. Demand
is reported steady for eggs, and fair
shipments forwarded to far distant
points.
Regarding the situation in San Fran
cisco, The Herald has the following
that may well represent the prevailing
condition in the north on the date
when the information was sent:
"At last egg receipts are showing
the effects of the season by increased
receipts, although they are far below
the corresponding week of last year.
The demand has been fairly good,
considerable amount having been
shipped into Oregon and Washington,
and also to the mining sections. Lo-
cally consumption Is heavy, but re-
tailers only buy for Immediate needs.
Up to today 271sc has been quoted on
fancy ranch. but some dealers are
making sales at 26c, to keep away from
receipts that are due. Store eggs have
been in demand for shipping and have
been held at 25@26Ac, or almost up to
| fresh"
| BUTTER IS STEADY.-The enor-
nous amount of northern and coast
butter that has arrived in this market
has not affected the situation, as the
market is we'll cleaned up and prices
remain steady. The shipments were
augmented yesterday afternoon, and
doubtless will be further increased to-
day when the cargoes of the belated
vessels arrive. These shipments are
expected to reach many thousands of
pounds. Even facing these conditions,
with the local output showing an in
crease, the market Is firm to active,
and considerable talk is heard about
possible advance in prices. This Is
spoken of both by the board people and
the independents, yet nothing has so
far crystallized. Tomorrow the butter
board will meet and 1t may be possible
that the full market conditions and
possibilities will be discussed before
and revision in price or change in quo
tations are made.
CHEESE OUTLOOK.-The cheese
situation has become somewhat acute
dunirg the past week. For some weeks
arrivals have been light and dealers
have not worried about them, as they
all thought the make was being held
back and that 1t would be in the mar
ket sooner or later, but time went on
and the shelves in the stores cleaned
up, and with an improved demand for
shipping many houses find themselves
wothout goods to fill their orders.
Dealers have not only been offering
advanced prices on the street, but are
urging makers to ship in their product.
A buyer i'm a cheese section who visited
the city was besieged by the houses to
get them cheese. Offers of 14c for
fancy stock in many cases fail to con-
summate DEAL regardless of the fact
that the 13@131sc quotation is still put
forward by trade papers. For old stock
sulta BILE for shipping the demand Is
better than for fresh and ii commands