Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1911-01-10
sag PRICE OF
FEBRUARY SUGAR
Sales of Futures Begin to
Show Influence of
World Crop.

last mail show that the downward
tendency in the price of sugar has
become q reality.
Although the Willett e Gray cir
cular of December % reported that
February futures were selling at
355c and therefore suggesting an
element of unexpected strength IN
the market for the future, the later
circulars indicate that the prices for
all of February delivery are consid-
erably lower.
A private New York letter to one
of the sugar men of the city reports
that futures for all of February were
being offered in the New York mar
ket at 3.49c, and the refiners were
not interested. This means, of
course, that the refiners expect. low
er prizes.
The latest Federal Reporter circu-
lar coming in the last mail from
the Coast bears the New York date
of December 90, and the main fea-
lures or III fOll0W:
Raw Sugar.
The market has been quiet, with
buyers disposed to hold off, and no
business is reported. Quite line of
sugar, for all January shipment, is
offered on the basis of 2 81 SC cost
and freight, the equivalent of 6.67c
duty paid New York, with first half
January shipment held at 27-16c
cost and freight, the equivalent of
3.79c duty paid New York, and all
February shipment offered at 1-Sc
cost and freight, the equivalent of
9.4Sc duty paid Rumor has it that
one small lot of March sugar has
been sold on this basis. About all
of this week there has been more or
less of holiday tone to the market,
and it was apparent that buyers
would do nothing until after the
Christmas holidays. The closing Is
quiet. with the spot quotation nom
inally on the basis OF 3,9S1-2c to
4.O0c duty paid for 96-degree centrif-
ugals, 3.4S 1-2c to assoc duty paid
for S9-degree Murcovadoes, and
1928 &c to 3.25c duty paid for So
degree molasses sugars. The world 5
visible supply is 3,050,OOO tons, as
compared with 2,79G,000 tons last
year. Messrs. Willett & Gray fig
ure the total stocks in the United
States and Cuba together as 57,042
tons, a decrease of 32,204 tons from
last year. Estimated afoats to the
United States, $4,000 tons, against
$4,000 tons last year.
Cuba.
Yesterday our correspondent wired
us that there were 10 centrals grind
ing. Today Guma reports to Messrs.
Willett & Gray that 81 are at work.
The weather continues dry and ia
vorable from grinding, SO it is prob
able that the centrals that begin now
will have even better yield than
they had last year. One of the rea-
sons given for the late start is the
fact that many centrals have been
putting in new machinery, and this
has delayed their getting under way.
Europe.
LIGHT wires us today that the
weather is unfavorable for field
work. On the whole the market re-
mains steady, as follows:
December - Buyers IS 10 Bad,
equals 3.S5c, duty paid New York.
January-Buyers IS 10 9-4d, equals
3.S5c duty paid New York.
May-Buyers IS I'D, equals
3.91c, duty paid New York.
August Buyers 9s 4d, equals
$3.50, duty paid New York.
Domestic Beets.
There is nothing new in the mar
ket. The price remains on the basis
of 460c for the territory east of
Pittsburg, and 4.70c for Western
New York and Pennsylvania.
Refined Sugar.
All refiners quote on the basis or,
4.SOc, with the exception of Messrs.
Arbuckle Bros, whose price is 4.9Oc,
but they are taking business on the
basis of 4.S0c for all grades except
ing cubes. The trade are buying on
hand to mouth basis. The Federal
Sugar Refining Company announce
that they will probably start work
during the first week in January.