Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1912-10-14
HIGH FREIGHT RATES
AFFECT SUGAR PRICES

Willett & Gray's Journal IN. W,
September &c: The week under re-
view shows a declining tendency to
all quotations at home and abroad as
this is the last week in which old
crop beet sugars will fix valuations.
The new beet crop quotations which
come into the actual selling basis in
October are much below the Septem-
Der basis of old crop sugar and there
will be an equaliZing of values on the
October beet basis after this week.
The new crop prices. incline to ad.
vance little from their recent low
point of IS. 71sd. probably because the
short interests on the sugar exchanges
have been forced to pay full up quo
tations to fulfil their contracts.
These contracts must be covered in
September but, by our information,
the principal bull operator has been
buying for October December deliver
les to a considerable extent, which
may tend to prevent the decline to
IS. for new crop. which has been ex-
pected by some parties abroad
The crop conditions under actual
harvesting will have an important in
fluence on prices.
F. o. LIGHTS commercial" estimate
of European beet crops is given here
with and is favorable for an increase
Of 2,179,000 tons over last year and
100000 tons over the previous large
crop of 1901.
Our local market quotations for 90
deg. centrifugals declined 13 cents per
100 lbs. to Alto. per lb. on sales of
q
prompt shipment, at 2Bc. and 13-16c
C. & f. basis, and closing quiet at the
lowest quotation, the equivalent of
Alto. per h., duty paid, which Is
close to the cost of new crop Beet
sugars.
Weather reports from Cuba are fav-
orable for new crop
One central is still working on old
crop, the weeks receipts of which
crop were 5000 tons for entire ISL
and.
Weather reports from Europe are
also favorable for crop making.
A few lubricants in the different
beet countries are already at work
Our domestic Beet crop will be in
harvesting condition to some consid
cradle extent in various States early
in October if the weather conditions
remain favorable, and the crop prom
ises to be exceptionally large this sea-
son.
Louisiana Centrifugals for Novem-
Der shipment are offered at equal to
4c delivered New York.
New crop Cuba Centrifugals are
talked about, with intimation of sell
ers at 219c. c. & f. for January and
2Ac. for February shipments,
but buyers wait for settling to
lower basis.
No Javas appear to be on offer.
Several invoices Of Philippine sug
ars for September clearance are for
sale at 3.35c. to 3.45c., basis SO deg,
and not taken.
At the close the market holds quiet
and steady at current quotations, with
light offerings of Centrifugals.
October shipments of European
Beet sugar are for sale at los. Cd. to
los. Cd. c. & f. to New York, the par
ity of 4.125c. to 415c. landed for So
deg. test Centrifugals. These prices
may appear to be too high as COM
pared with the cabled quotations for
October option contracts, which are
for delivery f. o. b. Hamburg, but it
must be remembered that freights are
at present Sd. to 412d. per cwt. higher
than formerly, and if the freights are
likely to continue high. We must ac-
cOrdingly readjust our parity table
of Beet and Centrifugal values.