The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1911-06-16

tember arrivals are ouered at 1OB 10
4.O7c. The interesting question is, shall
we 20 to old crop or TO new crop parity
in the course of the next four monthsi
In 1909 and 1910 our market never
quite went up to new crop parity be-
fore October and never was within
hailing distance of old crop parity.
Last year at this time there was very
large difference between old and new
erop-the difference in 1909 was about
the same as is now existing This year
the Cuban crop may be about the same
as in 1909, but consumption ought TO
have increased in two years in this
country. Refners have such a small
stock Of sugars that they can not pos.
pibly stay out of the market for a
month The Cubans absolutely control
the situation, but will they exercise
their controlf The safer gamble is that
they will not, except to very small
degree, unless there is some external
force like the buying of the syndicate
at work. If the Cuban would stop offer.
ing sugar for two weeks we would
have this market by the end of that
time well above four cents. Refners
are not inimical to an advance in the
price of raws; they can not sell refined
on a weak raw market; but what each
refiner is afraid of is that IL he goes in
and buys a large line of sugar at any
price there will be just as much, if not
more, coming oVt in the course of few
days, and his competitors will be able
to secure raws at Lice less than he
paid, or at a still greater difference.
The American bought 100000 bags of
sugar, large part of same at 3.9Sc.
A few days later there were 100000 to
100000 bags offered at this price and
the market broke to 3.S0c Refners
certainly will not load up with sugars
at any such price as 423c. They have
got to have sugars to carry them into
September, but for their late Septem.
ber-October requirements, they can get
plenty of Javas, and then in Novem-
Der the Louisiana crop will begin. We
think the tendency will be more and
more to bring Louisiana sugars to New
York in the latter part of the year.
Our market could go very much higher,
but we do not think it will.
Cuban sugars do not keep well dur
ing the rainy season, and we are afraid
that the Cubans will be wanting to rush
their sugars up here if the market goes
to anything like 3.9Sc. The syndicate
has stored about $4,000 bags; they
would have sold them at 9.S6c, but re-
finers being glutted with sugar for the
moment refused to pay that price
They have lot of last-half May sugars
coming along, unsold, and whether they
are going to store any more we do not
know. If conditions were right they
certainly would pay a good price for
last-half June shipment, or July ship
ment, and in so doing would strengthen
the market materially, but no one can
do anything when there is much unsold
stuff in port and nearby; this condition,
as we have saidy however, will termi-
nate soon and then we hope to see bet
ter prices.
We beg to enclose herewith state
ment dated May l, 1911, showing the
requirements of American refners of
full-duty-paying sugars from May l TO
December 81, 1911, which, no doubt,
will be of interest to you.
Allowing about ten per cent for err
rors and omissions we believe our state
ment to be correct when saying that
our refners will need between 375, 1000
and 100000 tons of these sugars.
Statement of May 1, 1911, as to re.
quirements during 1911 at New York,
Philadelphia, Boston and New Orleans
of full-duty-paying sugars in order to
have on January l., 1912, the same
working stocks as last year, namely,
10000 tons at New York, Philadelphia
and Boston and 10000 tons at New
Orleans.
1910. 1911.
Stock May l, N. Y,
Phila., Boston 49,. $4,000 100000
Stock May l, New
Orleans 80. =. $4,000 $4,000
Stock May /, Cuba,
six ports ....:,. $4,000 $4,000
Stock May /, Cuba,
outports -. $4,000 $4,000
Cuba balance of pro-
duction from May
/ to Nov IL. $685. 900 s'242,ooo
Porto Rico balance
of produ ct on
H Nov. ''J :. 100000 $4,000
Louisiana balance of
Nay ] t. Nov /; als,ooo als,ooo
production from
May ! to Nov. /. $4,000 $50. 900
Philippines balance
production
from May to
u Nov; L. l.. ~. $4,000 10000
ais from May to
Nov j ......... 10000 $4,000
Other foreign arriv.
ais from May
TO Nov. 1....... 5000 10000
Java arrivals from
May ] to Nov /. 81 800 100000
Beet arrivals from
May ] to Nov /. 100. DOC
Totals ......1 100000 1874, OOC
Meetings from May / TO December
81. 1910, 100000.
Meetings from May to December 81
1911, 100000, plus three per cent
(54,00O), l,s54,OO0.
Stock on hand January ], 1910
10000; 1911. 10000.
Or New York, Philadelphia, Boston
and New Orleans would have TO buy
$4,000 tons of full.duty- paying sugars
All crops based on W. & @. : estimate
except Cuba SOC, 600 tons and Porto