The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1912-02-27
RUSSIAN SUGAR.
CONTINUED from page nve)

market future. Russia Is the only
country holding excess stocks, and II
she Is allowed to export the desired
100000 tons additional this year, there
will be sufficient supply for ordinary
requirements providing Cuba gives a
full outturn, but If Russia is limited
to 100000 tons additional, as Germany
is stubbornly fighting for, some scar
city will be felt especially If the Cuba
crop does not come up to expecta-
tons
The convention at Brussels has met
and adjourned several times, unable
to agree as yet, and the latest report
from there received today, is that
Russia has offered to reduce her de.
mands by $4,000 tons and the German
delegates have requested the confer
ence to hold over its final decision un-
til the matter can be referred to the
government at Berlin, which was
agreed to.
Operators in London and on this
side are becoming tired Of waiting
for Brussels to act and have given
more attention to the Cuba crop re-
ports which are becoming decidedly
interesting.
Last week the visible production in
Cuba reached 23S,OOO tons, which was
$4,000 tons below the corresponding
dates two years ago, when the crop
outturned about 100000 tons, which
the present crop is estimated to give.
This week the total receipts to date
amount to 100000 tons, or $4,000 tons
less than in 1910, and unless this de.
ficiency is made up later, it more than
offsets the possible increase in Rus
sian exports over and above the 800
100000 tons Russian increase which
has already been discounted.
The weather in Cuba during Janu.
airy and February, 1910, was quite
similar to what has been experienced
during the last six weeks except a lit
tie cooler then, and incidentally there
were complaints of scarcity of labor
ers the same as at present, but at
that time the yield and juice were
reported good and steadily improving,
and the sugar was turning out faster
than in former years, while thus far
this season the juice in most places
has not been of good density and the
extraction has been much less than
usual. Latest adyices by cable re-
port some improvement in weather
and condition of cane, and if there
is a continuance of the lower temper
ature we may expect an increase of
the weekly receipts with the total out
put for the season problematical the
estimate of 100000 tons being lett
unchanged until conditions become
more settled.
OfIiial figures of total receipts in
the entire island of Cuba to the end
of January are 262,152 tons, against
$50, SOS tons for the same time in 1910.
The backwardness of the Cuba
crop and the increased demand for
refined strengthened our market for
raws, and after a sale of Porto Ricos
at 4.36c early 'in the week, Cubas
were sold at 8 Lice (4.42c) and adj
vanced with much activity to 31sc C..
& f. for Cubas (4.4S5c landed) and
Porto Ricos at same parity for prompt,
first half and second half February
shipment Buyers are willing to go
on but the holders in Cuba are now
asking 3 3-16c TO SIC c. e f.
Refiners have provided for their i'm
mediate wants, but not far ahead so
that a continued demand may be ex-
Ipected for the present at least.
Europe declined to las, 10Ad. for
February and Beet thereafter steadily
advanced to 15s. 6%d., the latter be-
ing the parity of 5.33c for Centrifu-
gals at New York, or .845c above our
market. This is too large a differ,
ence to last very long, indicating fur.
tier advance here if Europe remains
firm.
At the, close sales are reported al
3 3-16c C. & f., basis SO deg, for March
and also February, the latter making
4 spot quotation of 4.55c.