Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-04-07
SUGAR


The Federal Reporter for March |
oath says of the sugar market:
SUGAR.-Our market has continued
firm, on the basis of 3.0Oc. cost and
freight, for Cubas, for March.April
shipment. On Thursday Messrs. w.
J. McCahan Sugar Refining Company
purchased $4,000 bags Cuba centrif
ugals, for March-April shipment, at
3.00c. cost and freight. basis sc, and
Messrs Arbuckle Brothers entered
the market and took all the sugars Of
fering on this basis, II being eesti.
mated that the quantity secured was
between $4,000 to $4,000 bags. 1t
was at first thought that more than
this had been secured, but from later
developments It would appear that
the other sugars had simply been
withdrawn and not sold. On account
of 5000 bags Porto Rico centrifugals
in port, having sold on Saturday at
l-4c, basis SO, reducing the spot
quotation to this basis, combined with
the fact that Europe was rather cas-.
Ter, yesterday mornings quotations
being on the basis of lis. Old. for
the current, and lis. lid. for next
month a decline Of about Sd, sellers
became freer in their offerings, and
probably 10000 bags to 100000 bags
were obtainable at last prices, and
one lot OF 10000 bags, for prompt
shipment, could have been purchased
on the basis of 15.iGc. cost and
freight for DC test. In the afternoon
there was rather firmer tone, due to
1.-The Improvement In prices abroad, and
today further strength was developed
on receipt of the Cuban figures. This
resulted in the American Sugar Rein
ing Company entering the market and
purchasing all the sugar obtainable
on the basis of 3.00c. cost and freight
or 4.3Gc. duty paid for 9G centrfugals
In all they produced about 100000
bags at this figure, and at the close
we find the market very strong, will
sellers withdrawn, and the spot quo
tation on the basis of 1850. duty pait
for SO centrifugals, 3.SGc. duty pait
for SO Muscovadoes, and 3.6lc. dut!
paid for SO molasses sugars. There Il
little or nothing to add to what W.
have already written on the situation
| UBA.-There is little or nothinl
to add to what we have already writ
ten. As the season progresses, ex
IRENE shortage in Cuba becomes cer
tain, and advices would ten to shov
that $50 900 tons was close to a max
imum. 1t was generally thought thi
morning that receipts would SHOW
some little increase over last week
figures, when there was such decid
ed falling of, but the result was quit
the contrary, as receipts were onl
1000 tons, as compared with 1890
tons last week, CT 900 tons In 1907
and $4,000 tons in 1906, while export
show corresponding decrease, an
the number of centrals had fallen o.
to 141, or 20 less than were grindin
week ago. Stocks in the island tota
2ll,00O tons. At this time last yea
Cuba was carrying a stock of 81 90
tons, so. It will be seen that the
should have no difficulty In holdin
back the balance of their supplies
and obtaining for them the full Eur'
pean parity. There is very it'll
sugar being offered for sale, and tn
excitement of planters over the shor
age creates most unusual conditio
of affairs.
Under date Of March lith, our FL
ropean correspondent writes:
"The upward tendency of our ma
ket continues, prices have during tn
week advanced 2-3d. in little bits, cal
tiously from day to day; the reaso
for this slow progress must be sougf
!. in the hesitation OF outsiders and tn
absence of large speculative clique
which in former years We're Dushin
and disturbing elements. The Trad
feels confident OF the inherent GOO
position of the article. and the Marc
statistics seem to deTelop favorabl
but the Cuba news predomlnates
n everybody's mind"