The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1911-11-17
WILLETT 8 GRAYS
LATEST REPORT

]
Statistical Sugar Trade Journal, issue
of November 2, say in reference to
sugar conditions:
Raws-The present week marks the
usual annual return from prices re-
Gently paid because of scarcity of
homegrown sugars, to the usual diff
ference below European parity when
homegrown sugars became obtaina-
BILE.
Last weeks quotation for centrifu-
gals at 5.735c per pound, which was
,0S5c per pound above the European
parity, is now reduced to 5.3Oc per
pound on a sale of 5000 tons Java
sugar in port, or say .34c per pound
below the European parity, and .34c
per pound is the advantage in duty
given to Cuba by her reciprocity
/ treaty. The year 1910 was somewhat
phenomenal in respect to values in the
United States below Europe caused
by the large crop of Cuba that year
L1til ~ Ill luG SGdSOll NuDd GSlCl lluSdlS
sold at, at one time, May %, 99c per
pound below European parity, while
toward the close of the year the mar
kets for time We're at parity, but
the yearly average of cenuifugals for
1910 was .526c per pound below Eur
ope.
It will be interesting to follow this
parity through a year like the present
when a decided scarcity of supplies
exists for European consumption op-
posed by an apparent nearly sufficient
supply of duty favored sugar for the
United States consumption, if not in
terfered with by a competition for
Cuba sugars from Europe, which latter
lis a possibility.
European markets still maintain a
comparatively high level for the sea-
son of crop making. Beet sugar tiuc-
tuated for the week Hithin very mod
crate limits for the speculative mar
kets. going from lis. to lis. Sd, the
closing October quotation, and open
ing November at lis. z1ad., closing
the week at les. ND. (5.64c) for
November, Is. for December and Us.
Sd. for May. Cane Javas remained
steady at lis. Cd.
European crop news of the week is
unimportant and no new estimates
made. The notable feature was the
calling together of the Brussels con
vention on the Goth to discuss the APP
plication of Russia for an increase of
its export limit. The convention re-
ceived the application favorably, but
adjourned to December to give the
delegates opportunity to obtain spe-
cific instructions from their govern
ments There is a difference of opin-
ion as to the final outcome on ac-
count of the conflicting interests in
volved The United States is inter
ested to the extent of knowing the
effect of compliance or noncompliance
with Russia's demand, upon the Cuban
situation.
The only business of Importance
here during the week was the two
sales made at reduced prices, the first
of $500 tons Philippine sugar nearly
due, at 4Ac per pound, SO deg. test
basis. and 5000 tons Javas in port, at
5.3Oc per pound, sc deg. test both
bought by the Federal refinery, which
is now closed temporarily.
The sale of the Philippines was
comparatively low by reason of only
a limited demand for low grade sugar,
to be worked in connection with cen
trifugals.
New crop Cuba centrifugals of earl
lest deliveries January) are offered
at 31ac c. G. f. C4.S6c) and February
March at 7-16c c. & f. assoc.
During the week bids of 3.4Oc c. &
f., or 3.3Oc f. o. b., were refused, prob
ably from European buyers.
Our reiners thus far show no inter
est in future supplies.
Louisiana deliveries to refiners un-
der contract have been making at
higher basis than the local market af-
forded other sellers. November de
Hveries of these sugars under con
tract will be at ,l5c per pound under
New York quotations.
Javas ahoat have been Offering at
basis of 5.4Oc per pound landed, but
in order to sell lower must be taken.
Philippines for arrival are still to
be had and are of uncertain value,
for the reason that refners are over
supplied with low grades.
Cable news from CLba is all more
favorable for the crop than recently
reported.
Demerara crop sugars are not Of.
fered, by reason, partly, Of a scarcity
of freight room for prompt shipment.
The outlook is towards Cuban basis
as offerings increase, but these are
likely to be small during the present