Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1907-06-19
SUGAR

Willett 4 Gray's sugar circular fol
June reports on the sugar market as
follows:
VISIBLE SUPPLY.-Total stock q
Europe and America, 3,l56.257 tons,
against 3,456,S76 tons last year at the
same uneven dates. The decrease OF
stock is 300,619 tons, against de-
crease of 4,09S tons last week. Total
stocks and afloats together show Il
visible supply Of 1921, 257 tons, against
3,596,S76 tons last year, or decrease
Of 335, GIG tons.
RAWS.-Sellers made the first move
ment for change of quotations from
the former quiet and steady market.
The continuation of circumstances
against them led to the legitimate re-
suit of pressure to sell and decline
in quotations irrespective of future
values when the abnormal condition OF
strikes, bad weather, and reduced de-
mand for refined product has passed
by. In the meantime spot and nearby
Sugar must be sold and refiners being
greatly hampered in their receipt and
caring for sugars bought long ago,
could only take on new purchases at
prices forced upon them.
The business of the week in the sug-
ars pressed for sale was mainly at basis
of 3.86c for SO test with final sales at
SS4c., showing decline of .06c Ger
ID. from the spot quotation of 3.90c.
last week.
A cargo of Cuba centrifugals, for
shipment last half of June, was placed
with the Federal at 253c. C. and f.. 81
test, equal to $3.50. landed. There are
sellers at 2 Slice, basis SO, for July.
equal to 3.95c. duty paid.
At the close the position is still I'M
changed, the pressure to sell con-
tinues, and the ability to buy and take
delivery is still less than before.
Longshoremen's strikes, bad wealth
er and limited demand for refined still
govern the position without indica-
tons Of any let up in either direction
Hence further depression is likely
to result for awhile, Notwithstanding
that Europe does not sympathize or
participate in the tone and tendency
of the markets here to any extent.
Europe has fuctuated within I'd. fol
the week, opening at los. and closing
at IS. lid. for beet sugar (parity OF
4.09c. for So test centrifugals) and even
gaining I'D. for the next month deliv-
cries.
The European weather Is cabed to
us by Mr.. LicSt as unfavorabe for the
growing crop.
Cuba centrals working are now re-
duced to seven as against GO last year.
Weeks receipts 1000 tons against 49,
600 tons for corresponding week last
year. Visible crop to date 1,350,000
tons against 1,075,0g0 tons at same
date last year.
The weather in Cuba is now favor
able for some recovery of the damage
done to the pext crop by the recent
drought.
Buyers are showing no disposition
at the moment, to engage further sup
plies of Java sugars, consequently
sellers refrain from making any Of
serings and, the recent asking price OF
los. 3D. C. and +. equal to 408c. land
ed for So test remains nominally un-
changed.
REFINED.-The market for refined
sugars has been quiet and uninterest-
ing throughout the week 1t is useless
to expect large demand for sugar
while the unreasonable cool weather
lasts. Under the circumstances, buy
ers have done quite well in withdraw
ing supplies contracted for last month,
and refiners have not eXerted unusual
pressure in calling for shipping in
structions but, Messrs. Arbuckle Broth
ers give notice that, ii Withdrawals are
are not received when due, they will
understand that the buyers do not
want the sugar The demand, how
ever, has been fair and but little i'm
provement is noted in deliveries, es-
pecially of assorted carloads.
Prices are unchanged basis of granu-
lated at 490c. less 1 per cent cash
and the feeling at the close is not as
buoyant as usual at this time of the
year.
New Orleans market declined D
points to basis of 4.95c less l per cent.
cash for granulated.