Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1912-09-02
NO FEAR OF
SUGAR SLUMP
Market Will Hold Above Four
Cents for Some Weeks
to Come @

Willett, & Gray. under dG'" Of Aug
lust e. review the raw sugar .markC.
| in part as follows:
. The market has remained firm on
: basis of 401c. for 90 deg. test Tentri
! fugals, except for one day in mid-week
; when a concession of only 1920. was
| age expenses.
! Only a moderate business was pat
through during the week and the
greater part of the sugar sold was TAX
"a by the American toWadd the close,
for New Orleans as, we'll as for Allan
tic ports,
The resistance to decline heIe in
/ the face of weakness in Europe speaks
we'll for the tirmness Of holders and
! confirms our statement Of fortnight
! ago that they will demand full value
OF the remaining supply of privileged
! sugars.
| European markets for old-crop suS
ars cannot be taken as, guide for
! future values here as prompt Rect.
| which declined Cd for the week, is
| now quoted lis. lid. the parity OF
4 35c for Centrifug3ls, being the value
OF paper contracts and much above
; the cost of actual sugar in Europe
j The market for new crop, OctoberDe-
! cember Beet. however. represents the
| value of sugar itself and remains
steady at 9s. HID. f. 0. b. Hamburg
! the parity Of 4.09c. for Centrifugals.
Beet for October shipment was re-
: Gently offered at los ID. c. & f. to New
York, equal TO 4.07c. for Sc deg. test
Centrifugals. ..
Stocks in hand here and in Cuba.
| with the afloats and expected receipts
| from our Island possessions. should be
amply sufficient to provide for the
melting requirements during the next
! three months at least, so that We can
afford to ignore European prices for
current deliveries and only consider
the worlds markets for distant sugars
: as: bisis for our calculations. ~
The visible supply in principal coun-
tries has, for many months, been less
than for the same time the previous
year, but now, for the first time. it
shows an increase of S5,174 tons; this
along with favorable reports of the:
new European beet crop, leads some
parties to look for decline in beet
to 9s. f. o. b. Hamburg, for November
December delivery, which might be
possible if other crops do well, but it
must lie remembered that the cost of
producing beet is 9s. Sd, and that it
will be accumulated
The course of our market at this
time of the. year frequently depends
not only on the European market but
c. the offerings of Java sugars.
Our. cable advices report the yield
of the Java crop being harvested as
being varied, and estimate of outturn
unchanged at 100000 tons against
last crop of 1885 tons; July ex,
ports of Javas are more largely destin-
edto Eastern countries with the mod
crate quantity Of options part OF
which are Whites, suited only for
the U. K.
Most of the July Javas are unsold
and two of these cargoes are now Of
foring at lis. Sd. c. & f. to New York,
with bids of lis. (4.13c)) solicited. .
Two cargoes of Javas for July ship
ment are reported sold to O.. K. at
lis lid. c. & f., equal to ALEC. New,
York
It will be seen indications are for
our market to remain fairly steady at
4c to 4.13c. for some weeks, unless
EuroDe breaks badly. e. .
Cuba again reports rain is wanted. i
Louisiana is looking for a crop of
only 215.O0O tons. a reduction of 101,-
OOC tons due to the floods early in the
season. ; 4