Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-05-27
SUGAR

to sell, and both buyers and sellers
appear content to await further de-
velopments. No sales have been re-
ported since the American Sugar Re-
iining Company purchased the latter
part of last week $4,000 bags Cuba
| Ccntrifugals at Lice. cost and
freight, basis 90, equal to I.42c., for
shipment during the last week in
May. The market became steadier
on the announcement that 10000
bags Cuba Centrifugals In port would
be stored by the owners, rather than
sell then. at current quotations. The
effect of this, however, was counter
acted yesterday when advices were
received from Cuba to the effect that
| the production of the whole island
up to May LIST was S24,Ii9 tons (or
about $4,000 tons more than general
ly estimatedD, when figuring on
900, OO0-ton crop. In our report of
March 18th, when 1t looked to us
as though the crop would reach 940,-
900 tons, we estimated receipts May
LIST at $4,000 tons, so we are 6S,-
| 600 tons behind that estimate. and
there seems to us every reason to be-
lieve that the ultimate outturn will
be very little If any in excess of 900,-
600 tons. However. this news led
to some selling abroad, and the mar
lct turned easier, at fractional de-
clines. Sellers of Cuba sugar are to-
day asking 3-32c. to 3 1-Sc. cost
and freight, for early June shipment,
and 3 1-16c. to 3-32c. for prompt
shipment, and II is possible that IL
buyers appeared at 1-32c. to Lice.
under these prices, some business
could be put through. We hardly
think. however, that the volume
would be very large, as holders arc
showing the greatest confidence in
their position, and are not ready SELL
crs at today's prices. As to the flu
ture course of the market, IL would
seem that for the present we are GO
Ing to have temporary dizziness,
with the market staying around &c.
All the Sugar available will be need
ed, and II sellers are content to wait
until buyers necessity force them
into the market, there should be no
difficulty, In maintaining present
prices. and securing higher figures
later on, when the consumptive de-
mand increases. The market closes
quiet, with the spot quotation on the
basis of i.30c., duty paid, for 9G Cen.
trifugals, S.S6c. duty paid for SO
Muscovadoes, and 3.61c. duty paid
Tor SO Molasses Sugars.
CUBA.-The figures for the week
are as follows:
Receipts for Week: 1900 tons;
last week, 5000 tons; 1907, $4,000
1906. $4,000.
Exports for week $1,000 tons
J last week, $4,000 tons 1907, 80,
500; 1906. $1,000.
Stock: 10000 tons; last week
$4,000 tons; 1907, ili,00O; 1906
3l1,SOO.
Centrals grinding: 30; last week
] %; 1907, rs; 1906, l6i.
Aside from the figures which W,
give above, there has been no news o
special interest from the island. A
shipments from Cuba during Ma!
will be large and receipts small
stocks ON June LIST will be correspon
dinghy reduced, and probably no
show over 100000 tons. Sales ar
made from time to time ut prices
rifle higher than the New Yorl
values. AZ to the next crop,
would seem that with favorable wea
ther from now on II will be reason
b able to expect crop of 1000 90
4 tons to 100000 tons. On the othe
hand, II the weather Is unfavorabl,
the crop will probably be less tina
this year, but 1t is of course too earl
TO make any definite prediction,
There have been local showers, hu
no general rains as yet, and wher
d rain has fallen, although very benz
fetal, II has not been MS much q
needed. and in some places til
drought continues.
EUROPE. - Notwithstanding tn
fact that advices were received frol
LIGHT to the effect that the SOWING
will be decreased from l-2 per cer
to per cent, the market has turne
easier on the Cuba news, and ev
Q, IDENTIFY operators on the other sic
!. fear that Cuba has deceived them |
to the conditions in the island. v
10 not, however, think that such
belief Is well founded. So far as &C
ual sugar Is concerned, the oiferinl
of Beets which have been receiv,
quite generally from day to da
have been withdrawn, and todi
there is practically nothing offeril
from which 1t would appear tn
holders of actual stocks believe
the situation, and are waiting f
better prices. Today's closing
about on the same basis as yeste
days, the cable reading mark