Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1912-08-24
THE RAW SUGAR
ri. MARKET REVIEW

Willett & Gray's review of the raw
sugar market, under date of August
S, is in part as follows.
Our market has been influenced
largely, this week, by advices from
Europe. 10y
After two holidays in London, the
market there opened at Us. 21sd. for
prompt Beet, but weakness soon de-
veloped and the cables today show a
decline to lis. 7kd., with October
December (new CROP down Sd. to 9s
HID. and Java cane also Sd. lower
Hamburg showed much anxiety to
dispose of actual Beet sugars held In
store there, in order to strengthen the
spectators position, having recently
made offerings to refiners of the
United Kingdom and the United
States at Sd. below the current quota
tions for paper contracts at the time.
hut, of course, much above the parity
VI our market. a X.
Recent sales of Javas afoat, to: re-
finers to United Kingdom, include two
cargoes mentions by us last week and
three more cargoes, on basis of about
IFS. 41sd. c. (. & /. (equal to 4.40c.
here) for So degree test, and some
Java Whites were also included at re-
latively higher price. These sales fill
ed the demand from those refiners for
immediate requirements and had
much to do with causing the weakness
of holders of Beet sugars.
There will now probably be a gradu-
al decline in old crop Beet to the
basis of new crop, within about six
weeks. and we are mostly concerned
with the value of October December
Beet. now quoted at 9s. 11Ad.'f o. b.
Hamburg, the parity of 4.09c. for cen
trifugals. at New York.
Javas are usually offered on ire
parity of Beet for same delivery. or
somewhat less, so that, il crop pro-
spects remain good and Beet is quot
ed around 9s. Cd. to los, we NAV ex-
pect Java or. Beet sugars to he Oh
tainable, if NEEDED, at equal to 4.05c 20
Aloe
There is no necessity vet for orr re-
epers to anticipate their want -
foreign raws. outside of the available
srnnly of privileged sugars. esDeciallv
while the demand for refined remains
small as at present.
The, local market has been stea1v
or basis of 4.05c. g 11-1sc. g. & f. for
SO degree test spot and August ship
ment.
Only a moderate business has tpen
transacted during the week. because
of most holders asking 2%c g. & f.
fe11c). which buyers refused to nav.
Our cables from Cuba rennrt total
receints at rorts of entire Island 10
end July. 1.S1677R tons, and stock
August list 299.52n, tons. There are
now more centrals at work than at
same time in 1910. Int they are do
Ing very little and weekly receints ere
snail. A total CROP of 1880 ono tons.
is assured. with the possibility of a
few thousand tons more
England has decided TO withdraw
from the RrmeSols Convention newt
voar rs reFerrnd RI in another column.
This has no effect on present condi-
tons and the nnin;On IN Ondo1 IS
that the Convention will remnin IN
force until 1918.
Our cable from Manila gives the
.Irlv exnorts from the Philinninec
Of ONLY qnOn TONS 70 Fast Coast I &
end 5000 tons ele awhrre. There IS still
considerable e+ocE in the Islands
gales bniro difficult because Of tariff
uncertainties.
, At the cloco the tone ~ orr m"rknt
is elsier. with buyers holding off, in
view of the adyices from Europe.