Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-03-27
SUGAR

Willett & Gray's Sugar journal for
March IL reports as follows on the
sugar market:
Visible supply.--Total stock OF
Europe and America, 3.579, 500 tons,
against 3S25,605 tons last year at the
same uneven dates. The decrease of
stock ts 2i6,O02 tons. against de.
crease of 204, $3.50 tons last week. Total
stocks and ahoats together show Wis
ible supply of 3,G99,6G3 tons, against
1926, sos tons last year, or a decrease
of 2GG,OO2 tons.
Raws.-The spot quotation for 90
test centrifugals remained nomlnally
at 3.S9c. duty paid In absence of sales
until the last day, when sales at equiv
alent of i05c. raised the quotation to
this level. In the meantime con.
tinued advance was being established
in futures by repeated sales at im.
proving prices, the quotations for
April rising from 2 9.1Gc. C. and I. to
2 3-4c. C. and f., equal to 4.11c. duty
paid Porto Rico centrlfugals for
March and April shipment sold at the
close at 403c. C. |. (. and Cubas atloat
at 1l-16c. C. and T.. equal to 4.O5c.
duty paid sc test. These prices for
nearby sugars bring centrlfugals with.
| I'm tic. per 100 lbs. of the party Of
March beet sugar and April Cubas
within lie. per 100 lbs. of April beet
sugar.
| When this difference Is closed by
1-Sc. more advance In centrifugl ais Or
la decline In beets, the markets Of the
world win be open to our refner5 on
the same parity.
Such purchases In Europe, II large,
would tend to put cheek on prices
in Cuba temporarily by filing gap
thought to exist in the supplies to
September. II is too late to secure
further early arrivals of Java sugar
and none are reported having been
bought during the week for later ar.
rivals.
European advances continue but fOi
the first time are notlceably below the
local advances, los. 6 34d. being well
established at the close against los,
Sd last week, which is small consider
ing that Mr.. LIGHTS weekly cable
makes no change In the unfavorable
weather conditions for field work.
Importance will no doubt be given
to our resume given herewith of In,
Cuba crop as It appears to date. prom
ising to fulfill our first estimate un
less unexpected conditions come here
alter The disposition has been Il
take too pessimistic views. which M
doubt has led to considerable specu
lation abroad and some In Cuba II.
wen. The actual crop conditions ar,
sufficient to account for the advances
already made without accepting sucl
pessimistic figures.
Naturally the cable received by u
from our Java friends indicating
shortage of $4,000 tons Is of specia
importance in curtailing our supple
from that source.
We are not looking beyond Septen
Der In our review of the situation Il
this time. Several new influences will
be at work at that time to influence
all markets in the opposite directio
IRON now for remainder of year.
As regards consumption. while II
at present behind last year ut thi
time, as shown by available figures
we are disposed to consider there wi
be no falling of In consumption 70
the entire year.
Very high prices for raw need NJ
necessarily mean very high CORE
ponding prices for refined which
the sugar of consumption, for refineI
have adopted the policy Of keepin
the refined product at the lowest pra
teal point based on the raw mark'
and to look to their profit from mai