The Hawaiian gazette., 1910-05-10
The Sugar Market

ably by the higher prices.
At the close our market continues
to improve on healthy steady adj !
vance without excitement, the latest
sales being at 4.30c. prompt and 4.33c. |
for May. Second week May clearance
sold at 4.36c. c. & f.
European buyers also took Cubas for
292e. f. o. b.. against low sale recently
of 2.7sc. +. o. b.. The former advanced
price of &c. f. o. b. for Europe is in
dicated as soon practicable again.
A report of a colored leader starting
| an insurrection in one Cuban district
, is not taken seriously here. d
Refined.
Indications from the raw sugar stand
point all point to an advance in refined
almost Immediately. The fruit season
is now near enough at hand to help
along a new demand,
Some Of our correspondents at the
West report severe damage to small
fruits in some sections-Iowa particu-
larly, but here at the East no damage
is reported, and the critical period for
frosts seems to have passed by.
( Better carry full supply of refined
this season and make unusually salts
factory profits 'therefrom.
! Willett & Gray, April 14:-As
indicated in our weekly remarks since
March 18th, the market reached its
high level for eentrifugals at 4.S6c.
per h., 96' test, as far as applies to
the first and second quarters of the
campaign JanuaryM March.
The third and fourth quarters will
still give new high level, particular.
Ily the last quarter, July-September,
based upon the European statistical
position.
An intermediate period in the third
quarter shows already unsettled, reac'
tionary conditions, because the advance
to this time has been sufficient to at
tract to the United Kingdom a guam
tity of sugar now arriving and belong
ing to the speculative class, who want
to realize without expenses.
, AS already pointed out in our paper
of March 81, the United States rein
ers have in sight sufficient sugar for
their campaign supplies, if such neigh,
borhOod supplies are not interfered
with, and hence there is no reason why
our refiners should bid for sugar any
more than the countries which are short
of supplies are bidding against them.
The surprise sometimes expressed at
the large difference of &c. per 100 lbs,
against zee. per 100 lbs. difference last
: year between centrifugals and beets,
is misplaced, and certainly at this writ
ing there exists no reason to expect
that this difference will be largely re-
duced in the immediate future.
, !, The week developed in Europe one
! of those sharp breaks in prices which
frequently come in to interfere tenn
porarily with a big speculative bull
: movement in markets for any products
There must be some special circum
stances occurring at the moment to &C
u u count for this retarding movement
!. = which can only be guessed at this dis
lance One correspondent intimated tt
;, US last week proposed Legislative
II movement in France against large spec
q ulators, but classed it as queue d.
y poisson (big fish eating little fishl.
u Big speculations are always open tt
" attack at times, but when well basec
.e on a strong statistical position as nov
!. should succeed in the end.
II We expect considerably higher price
Z for sugar later on in the campaign
y both abroad and here.
y The immediate future of our marke
is impeliled by Europe, and goo,
II opportunity may be near for the pur
p chase of more distant supplies, whic
10 is what our refners are in position t
81 take. Nearby sugar and early shipment
pressed for sale at concessions ma
as help to this end.
% Europe is not likely to recover a
"a at once from its present setback.
TO will take time to reproduce the forme
- stable position.
90 Cuba shows 100000 tons visibl
or production, which, with correspond
ing increase of production over las
or year in April and May as March 81, AZ
S; tons, will doubtless bring the Gro
o, fully up to 100000 tons, as persis
IL emily estimated by ourselves.
We quote nominally 4,36c. for 81
on centrifugals, unchanged from last wee
nd except in tone and tendency, which
no downward.
ce Both beet and cane sugar decline
he spasmodically in Europe; beet from Il
high level of Ids. 934d. to Ids. 115t
M and cane Javas from 15s. 47ad high
nd las. Cd. per cwt.
us Strong and willing holders of sugi
ro- anywhere need not be disturbed
Ike any irregularities in market movemen
Up during the third quarter of the car
paign.
EN- The fourth and last quarter VIII a
he just prices satisfactorily, as we see Il
ear prospects from the worlds statistic
ire standpoint.
W. Holders at the close offer prompt al
OBJ afoats at 2.94e. c. & +. (43Oc,D al