Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1910-06-15
CUBA'S SUGAR
|. 'SELLINGFAST
PRICES SATISFY THE
BIG ISLAND PLANTERS
European Spectators Look for High
Trend in August-Rain Assures
Cuba Crop,

Willett & Gray's Sugar Journal for
June reports as follows on the raw
sugar market:
VISIBLE SuPPLY.-Total stock OF
Europe and America, 2,600,190 tons
against 2,772,4S3 tons last year at
the same uneven dates. The decrease
of stock is 1892 tons. against a
decrease of 1873, 59i last week. Total
stocks and afloats together show a
visible supply of 2,730,190 tons,
against 2,Ss2.4S3 tons last year, or
a decrease of 152,292 tons.
RAWS.-The feature of the week
Is that the sugar stocks in the Unit
ed States and Cuba together reached
the highest point of the campaign
and turned TO the downward trend.
These stocks are 752.190 tons,
against 1885 tons last week and
692,4S3 tons last year.
The Cuba crop figures now show
visible of 1,595,O00 tons, against l.
344, 900 tons last year, gain OF
251. 900 tons which, with the addi-
ton of subsequent production equal
to last year, gives maximum OF L.
764,5S2 tons crop.
II will be interesting to note from
week to week II reduced receipts at
shipping ports reduce this figure.
The success of the European spec
ulatlon in the future depends upon
several circumstances, one of which
OF Importance is as to whether Eu-
rope will continue to take from Cuba
sufficient sugar to establish an evil
dent or visible short supply for our
refiners. Thus far about $4,000
tons are bought, but not all shipped
for Europe. without diminishing sup
plies for American requirements be-
yond safety.
Should this safety point be passed,
however. by continued purchases
by Europe, the 80 cents per 100
pounds difference in parity between
beets and cane will quickly show It
by a closing OF a part or all of the
difference. depending upon the
amount Of shortage that would have
to be made up by our refners from
full duty paying sugar, or the bring
ing here from Liverpool OF the Cuba
sugar stored there. Any such pos
sibility does not exist at the moment
and may not come at all if'the Euro
pean spectators do not see the i'm
portance of this feature In their pro-
gram for higher prices and act ac-
cordingly.
Europe, however. Is likely to want
sugars from outside sources more
than American refiners will.
The Cuban planter continues to
offer freely at the present large
profit on the large outturn of his
estates, evidently preferring not to
take chances OF the future. however
brilliant they may appear.
This slight distrust of that flu
ture, caused by the quite serious re-
action in the sugar exchanges OF Eu-
rope, has brought the selling basis
back to 4.24c. per pound spot-near-
by, and to 4.27c. to 4.33c. basis for
June and for July 4.S6c.
The European market finally stead
led at las. Q 3-4d., after continued
decline from the high point OF l5s
l led. May 23rd. This reaction
may have no bearing upon ultimate
higher values later in the season
II merely indicates that temporarily
present supplies In the United King
dom are larger than required and
that spectators are giving more at
tention to future than to present
conditions, August being now the IA
vorable month in their estimation
and the month OF vantage in realiza-
lions aimed for.
The intermediate months OF June
and July may pass by with little
change of conditions.
Our total worlds crop estimates
are increased. Formosa Is progress
Ing rapidly In production and ex.
poets another Increase next season.
Cuba rains toned down from THE
previous week. The next crop has
been benefited by these rains thus
far.
European beet crop news is varia'
BILE, but on the whole somewhat ia
yorable.
Good rains haye fallen in western
and southern Germany and In France
where much needed. lu
In Eastern Germany and especial'
ly In Russia all reports agree that
growing conditions this spring have
been very favorable.
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