Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-01-18
~ SUGAR ~

essHsaNNaNNNcfN
in spot Ccnt.i'uglls at 3.7Gc landed.
Messrs Guna-Mejcr gave out an cs-
innate of 1,3jO,O0O tons for the Gu
ban crop. Preliminary estimates of
Beet sowings were issued by Mr.. f.
o. LIGHT, indicating. an increase of
2 1-2 per cent. for all Europe. A
record weeks receipts of 1851 tons |
occurred this month at the Atlantic |
ports.
At the beginning of May 1t was |
estimated that the melting require |
ments of the Atlantic ports from May
to December, inclusive, would be l.
100000 tons, and that 100000 to
400, 900 tons sugar would require to
be drawn from Java and-or Europe.
About the middle of the month our
principal buyer began making pur-
chases of new crop Javas for June
| July shipment A strike OF New
| York longshOremen, at time of
| heavy receipts, proved a serious draw
back to the market, reflners refusing
! to buy because they could not take
| care of the sugars they already own
! ed. by the end of the month, the
number of Centrals at work in Cuba
had diminished to 10 as against 81
at the same time a year ago, and Gu
bas for shipment had advanced to
25Gc C. f., basis 90 degrees, and spot
Centrifugals to 3.92c landed. I'm
fortunately, n prolonged and general
spell of unseasonably cold weather
cast wet blanket over the raw mar
ket.
The first fortnight in June brought
n continuance of heavy receipts, chic
fly to New York, where the effect of
the strike was yet being felt. I'm
seasonable weather and poor demand
for refined still prevailed, and made
reiiners restrict their MEETINGS. Gu
ban crop estimates were increased to
1,425,O00 tons. This combination of
, adverse conditions caused the market
10 react to where 1t had been two
months earlier, and brought both Gu
has for shipment and spot sugars
.21c below the highest price in May,
; although International markets had
! only declined .O6C in the same time.
: This latter decline was probably due
| TO the disturbing influence in Europe
of the announcement by the British
Government that II would withdraw
= from the Brussels Convention in
= September, 1908, unless the require
} ment were waived that 1t should pen
S alize bounty-fed sugar. Towards the
= end of the month prices here recov.
1 cred most OF the earlier loss.
July opened with slightly easier
4 markets both here and in Europe, the
= decline being .031c per ID. and 3D.
e per cwt. respectively. Early in the
G month considerable purchases of Javas
t were made by rehners at los. C. (. fol
= Acknowledgements shipment. Towards
y the end of the month the market i'm
e proved under the influence of unfavor
d able wealth reports from Europe ant
= diminishing stocks here. A large bus
e mess was done in Cubas for shipment
$ at .OGc, advance, and Porto Ricos il
d store We're sold at 3.9ic.
= August began with reports that thc
), weather conditions in Europe in July
d had unfavorably affected roots ant
s had made the beet crop a fortnight
= late. The Cuban position was con
: sidered strong, 1t being estimated tina
!. not more than 10000 tons, available
b. for export, remained unsold. Rains
, continued to be very much wanted Il
n the island Towards the middle Of tn,
!, month financial disturbance both her,
and in Europe exerted an unfavorabl,
influence. In the United States tn,
unusual prevalence of unreasonable
weather, during the summer. ha,
= made all fruits scare and costly, anC
had lessened their use for domestic
as well as commercial canning Re
iincrs were finding the demand TO
their product far short of what = /
J should be In August, and the marKe
: for raws became lifeless. Cubas, in
stead OF advancing, declined .06c, OF
Goth spot sales were made at $3.50
basis SO. Europe reported unfavor
! able weather and before the close o
u me month beets had advanced 3-4d
but the only change here was an ad
h vance of .O3c. on spot sugars whicl
sold at 3.92c. The Brussels lnterna
tional Convention agreed to extent
for another five years the five years
agreement which came into effect OF
list September, 1908.
September opened with higher mar
kets in Europe, but United States
markets made little response. Porte
Ricos for shipment were sold at 3.95c
C. |. (. BY the end of the month a de
sire to realize became apparent ant
S.95c. was accepted for some storet
sugars previously held for DC.
October began with markets fla
both here and in Europe. Final iiG
, ures of the 1906-07 Cuban crop showed
that 1856 centrals had produced 1927