Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1911-07-22

As we go to press we have received
the following cable from London in
reply TO our inquiry. rtr.
Market affected by beet crop re-
ports; excited with strong speculative
demand; think prices are too high to
last"
The same journal In its issue of
June 20, said:
hws.-The undertone of the mar
ket has been strong throughout the
week
The heavy business done at the
close of last week, basis of 2asc C.
& T. or 2.9Sc landed. covered 100000
to 100000 bags, or about three weeks
supply, and naturally the refiners
have since thought II best to sit still.
Some holders who did not take ad-
vantage of the opportunity to sell are
now willing to accept the same price,
| but are content to wait for a resump-
ton of the demand, confident that
they will obtain rs favorable or better
figures.
One feature of the week Is the re-
ported sale of Philippine sugars for
June-July shipment at market price
day of arrival; II the sugar arrives
early in September the chances favor
a market price higher than the pres
ent one.
Refiners refuse to consider Offer
ings of Javas or other distant sugars
at an advance over spot quotations,
especially for October December ar
rivals expecting that supplies will
then be SO abundant as not to war
rant higher prices.
The present Cuba crop will be prac-
F., tically all absorbed by October list,
and the principal new crops which
will be available later In the year are
the Java cane and European beet
! crops; prospects of the European
crop are, at present, not all that
could be desired: reports are received
of continued drOughts in several i'm
/ portant sections Of Germany. Austria
| and Russia, also damage done by in
sects; when drought is experienced in
| September, after the plants have OBJ
tanned good growth and leaves cover
| the ground. the effect is more good
than harm, but when u comes In June.
before the plants are well rooted,
/! there Is danger Of much damage, and
It may be impossible to make good
crop In such sections, the chance Of
even fair crop there depending on
the weather which follows: in most
localities, however. the crop is maxi
ing favorable progress, according to
our cable advices from F. o. LIGHT.
Stocks In Russia are very large, but
elsewhere In Europe the visible shows
only a moderate increase over last
years figures, and in view Of the COM
plants from the beet growers, hold
ers and spectators are advancing
prices instead OF showing weakness !;
one reason given by London corre-
belief that American refners will be
obliged to import raw beet sugar be-
fore long, because Java offerings are
neglected
Beet quotations opened after the
coronation holidays at los Cd, and
have advanced to lis for June, July
and August delivery, while new crop
for October December advanced Ia
los Id, the latter being the parity OF
4.1sc for centrifugals at New York.
\ In Java sugars no business is actu-
ally reported here, but there are I'M
confirmed rumors of sale to an out
port refiner at los Sd (4.08c) for first
half July shipment. European specu.
lators have bought two Java cargoef
at los Sd, and holders are now ask.
ing lis c. & (. for first half July
los lloyd c. 4 I. for July and los Sd
for August shipment; only about
twelve charters for steamers for Java
cargoes are reported. but there Il
time yet to secure large shipments IN
August for October arrival.
1 On the London market Javas ad
vanced Sd from lis Cd to lis Sc
floating landing"
In Cuba eight centrals are still
grinding when weather permits: al
reports agree that the prospects O.
the next crop are most favorable
with large increase In plantingi
and ideal growing, weather conditions
thus far.
!, In Louisiana welcome rains i'm
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