The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-08-02
WILLETT & GRAY'S
LATEST LETTER

Willett & Gray's trade journal of
July 21 contained the following re.
lating to raw sugar:
Under our remarks last week, we
said that the sales Of centrirugaIs at
the .3Oc. per ID. basis were exception
al and that the current market quota
ton would rise to the Sc. C. G f. basis
again. This forecast proved correct,
as only $4,000 bags were sold at 4.3Oc..
and the next sales on Monday and
Tuesday were at the basis of &c. c. &
IT, (43Gc.). At this basis some 200, 900
bags were taken by three refiners, in
Guiding 10000 Cubas and $4,000
Porto Ricos, July and August ship
ments.
AT the close there are still some
| 100000 bags Centrifugals for prompt
shipments offering on the market at
&c. C. & f. basis, but for August ship
ment 1920. per lb. higher is asked,
with the tone and tendency in favor
of sellers. New Orleans is reported
to have paid 3. 03c. c. & f.
A significance of the European mar
ket, which has been quiet and steady
Throughout the week, is that quotations
for new crop beets advanced Sd. for
| October-December delivery, showing
a speculative disposition in new crop
| If new crop beets continue to advance,
lit will be to the advantage of Cuban
planters, and this sentimental price of
&c. c. & f., held for so long a time,
will likely be overcome and some
what important advance yet follow.
The European situation, by the
Board of Trade figures, shows 1876, 1871
tons more cane imported into the Uni
ted Kingdom to July LIST than during
the same period last year. This in
cludes over 100000 tons from Cuba,
and no doubt tends to keep old crop
prices down, inasmuch as to these
large cane receipts there will, eventu-
ally, be added much larger imports
from Java into the United Kingdom
than customary.
There is interesting news from
Russia, where the Government is tax
ing active steps to reduce the higt
prices resulting from speculation il
that country. They have lowered the
import duty to an extent that will per
NIT the importing to a considerable
amount of Austrian sugar. At the
same time, the refund of taxes on eX
ported sugar has been suspended
leaving the markets of Finland and
Persia, heretofore largely supplied
from Russia, open to other producers
1t may be seen later that this action
of Russia will further reduce available
supplies to continental countries tC
Europe to an extent that will in
fluence European prices higher.
Our weekly Cuba cable gives 1900
tons receipts, against 1000 tons last
year, with centrals grinding, against
last year. The last year continued
grinding until August 23rd Visible
production to date is 1,714,0OO tons
which, added to 103.5S2 tons, the after
receipts of last year, would give a
crop of 1,S17,582 tons. These figures
indicate that the final crop may nearly
reach 100000 tons. One of the larg
est centrals in Cuba, the Chaparra
closed this week, having made $50, 50C
,, bags, against 4S2,42S bags last year
This central closed earlier than las
year, but started working some weeks
earlier than last season. We prin
elsewhere the destination of exports
from Cuba to July LIST.
Total stocks in United States ant
Cuba together 56S,S14 tons, agains
582, 430 tons last week and 496,127 ton
last year.
The imports into India during Ma
show, an increase over the precedin
May, Notwithstanding the larger dc
nestle crop. March, April and May
all showed an increase in imports.
AS regards the European CROWN
crop, it gives promise of a consider
able increase over last year, but les
+ ~~A%~N%%%%~~4~~o~~~A%~~~N
ing time, awaiting the passing of tn
! vacation season and the progress {
the leading crops nearer to maturit,
A fair number of buyers are in tn
leading markets, but their operation