The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1907-02-02
THE new YEAR AND
THE SUGAR MARKET
REPORT OF THE FIRST WEEK IN
THE NEW YEAR-SLIGHT DE-
CLINE.

The following is the report of VIII
lett and Gray on sugar for the week
ending January TO- 1907:
Raws: Nc business has been done
during the week under review to war
rant a change in the quotation of spot
or nearby sugars, hence we continue
to quote 3.56c. per ID. duty paid for
spot value as per last sale
There has been business in January
and first half of February shipment
at a reduction to . 5-32c. per h. c. and
f. for 960 test Cuba Centrifugals, equal
to 3.52c duty paid, and Of Porto Rico
Cantrfugals for January February
shipment at 3.5Oc., basis SO test.
Buyers are now looking for Cuba
Centrifugals at . 1-Sc. C. and f. go
test. while sellers have large supplies
on offer at last quotations for January
February shipments. Indications are
that slight concession will soon be
granted in order to effect sales.
There is no change in final quota
tions of beet sugar at SIS 9 3-4d., al
though during the week the price drop
ped to SIS Lid. There is no definite
and minor fluctuations occur each
week. Beet futures dropped to 9s dur
ing the week, but closed at 9s q 3-4d.
The Cuban situation is watched in
Europe with special interest. Our sEe-
cial reports from Cuba given herewith
are quite re9ssuring regarding the
safety of the present crop of 19O6-19O7,
whatever may be the outcome of the
19O7-0S crop should American protec-
ton be withdrawn.
1t is not well to give full credence
to current so-called information in the
newspapers, much of which is written
to force public opinion in favor of an
nexation or permanent Protectorate.
The trend at present is towards es-
tablishment of a Cuban Independent
government but with an American Ad-
visory Committee remaining in the ISL
and.
1t is scarcely likely that any i'm
portant change in' the status of the
island will take place during the max
ing of the present sugar crop. The
lengths of the grinding season depends
largely upon the weather. the present
conditions of which being favorable
During the last week or two, there
were sold to Canadian buyers some
5000 tons Demerara Centrifugals at
equal to &c. C. and f., New York basis
go test.
Recent sales have been made of San
Domingo Molasses sugars, for shipment
to the United Kingdom, which will net
the sellers fully 3-16c. per ID. more
that Cuban Molasses sugars will also
find a profitable market in the United
Kingdom.
Refined: AS anticipated the first
change in the new year was a decline,
the Federal making a cut in their
prices, this week, of Is points, to basis
of GRADUATED at 4,55c. less per cent.
cash, but without other allowance. The
other rehners still quote basis of 4.7Oc.
less l per cent. cash, and continue to
allow the special rebate of 1Oc. per
barrel.
Naturally, the Federal have done a
fairly good business at their reduced
price, but generally, the demand has
been quite limited,
American, Howell and Arbuckle do
not show any disposition to meet Fed
erals cut, one reason for this being
that the recent hand-to-mouth de-
mand has been sufficient to absorb the
small production meanwhile, and an
other being that strike of truck
drivers at the largest refinery curtail-
ed deliveries somewhat. However,
MEETINGS are increasing, and If the
demand does not increase. an accum-
mutation of product win follow, with
consequent ease Of prices.-Willett and
Gray