Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1910-03-22
latest REVIEW
OF SUGAR MARKET
GINA BECOMING
GOOD CUSTOMER
Consumption Of Sugar Is on Increase
Regardless of Advancing Prices
New Estimates Made for Com.
ing YEARLY Crop.


One of the most interesting sugar
circulars received recently is that of
the Federal Refinery issued under
New York date OF March 4. The cir
cular says:
RAW SUGAR.-We have had n
firm market, but without much busi-
ness, since our last report. On We'd
nesday about $4,000 bags Cubas. for
clearance not earlier than April 3,
sold at 3 Lice cost and freight for
&C. test. the equivalent OF i.42c
duty paid. and last night the mar
kets In both Europe and here appear
ed 10 be assuming waiting ten
dency, with prospects In favor OF lit
tie 10 any change either way In the
immediate future. Today, however.
the situation is again materially
, strengthened on the advices from
Cuba that Guma states that the
drought continues to such an extent
that a reduction in his estimate will
have to be made. This has resulted
In an advance in Europe, as well as
in the sale of 10000 Cubas, for
April shipment, on the basis OF
Lice cost and freight. About
100000 bags Cubas, for March ship
ment, have been sold at 1-l6c cost
and freight to Messrs. Arbuckle
Bros. and u. II. Howell. Son & Co.,
advancing the spot quotation to 4.42c
duty paid for 90 Centrifugals, 3.92c
duty paid for SO Muscovadoes. and
3.67c duty paid for So molasses
sugars. II: addition to this, $4,000
bags TO 100000 bags Cubas are un-
derstood to have been sold at 3.0Oc
fob. Cuba for shipment to England.
Sales previously made for shipment
to the United Kingdom refners,
amounted to about $4,000 tons. The
closing quotation for March beet is
las SID, the equivalent of 5.09c
I for these sugars laid down New York,
or 81 points over our present spot
quotation. Such a margin Is a large
one. For example. at this time last
year the difference between the spot
market for go Centrifugals, and the
price at which beets could be i'm
! ported, was only ~ points, SO that 1t
will be seen that gradual narrow
ing of the present excessive differ
entail would result in higher prices
here, even II there should be no
further advances abroad. The rea-
son we have had such large differ
entail between the cost OF Cuban and
beet sugars, duty paid New York, Is
because OF the large Cuban crop. ii
the outturn Is not to be as large as
was expected. holders naturally will
not from now on be as free sellers.
1t Is estimated that about 100000
tons Cuba sugars have been sold To
date. The total receipts since jan
uary principally from Cuba), are
43O,j24 tons, while MEETINGS since
January have been 29S.0O0 tons.
The total stock in all hands on
March 2 was 209,026 tons. 1t will
be seen, therefore. that our rehners
have sufficient sugars bought ahead
to enable them to stay out OF the
market. IL there was 10 special In
centive to buy. on the other hand
at any concession from today's pric'
es. Cuba sugars could be exported tc
Europe, and our refiners have shown
no disposition SO far to let any guam
tity OF these sugars be diverted tc
the United Kingdom refiners. and are
hardly likely to do so. II the esti
mates of the Cuban crop are now tc
be reduced. Tho total stocks In the
four ports are 2O9,O26 tons. as com
pared with 2l1.G3l tons last year
and the estimated afloats to thu
United States are $4,000 tons
against $1,000 tons last year. The