Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1912-03-16
As Wllleu 4 Gray See II.


Feb. 20 says Of the raw sugar market:
VISIBLE SUPPLY.-Total stock of
Europe and America, 2,SSl,llS tons
against 3,G92,397 tons last year at the
same uneven dates. The decrease of
stock Is Sll,279 tons against decrease
OF S2O,S79 tons last week Total stocks
and aiioats together show visible
supply of 3,O29.llS tons against 3,SlS,-
397 tons last year, or a decrease of
1S9,279 tons.
RAWS.-The week under review has
been reactionary, both ut home and
abroad. The large and free purchases
by our reiiners gave them sufficient
supplies to Increase their MEETINGS to
make rapid deliveries of their CON
tracts for refined, more rapidly, In
fact, than the holders of the contracts
desired, so that some of the surplus
production came on the market from
second hands, causing an irregular
refined sugar condition temporarily,
and less demand from the reiiners for
the raw maerial. The reaction from
the previous high level of 3 7-1Gc. c.
a. f., and $50 per Id. duty paid, for
96c. Centrifugals has now reached
3 5-lGc. c. d T., and 4.G7c. per lb. duty
paid, and at which $4,000 bags Porto
Ricos ailoat was sold, making a spot
quotation.
The immediate future depends up
on the disposition of Cuba sellers to
press their sugars for sale, or other
wise to walt until our reliners are
ready to accumulate further supplies.
The European markets are very
similar to our own ut the moment
The u X. has in sight sufficient sup
plies for two months wants and an
absence of future buying. The quo
tations for both beet and cane raw
sugar have seriously reacted. Beet
sugar from les. lkd. last week to
lbs. lid. this week, and cane Java
to les. Cd.
Looking ahead as to requirements
the o. X. sees necessity for providing
only for the months Immediately pre-
ceding September, as on September
LIST the Russian contingent of 10000
tons will be released for shipment
against requirements ut that time, and
In the meantime the 10000 tons OF
Russian excess shipments, this cam
paign, authorized by the Brussels con-
vention. will have been received.
The European situation is therefore
not now as stringent for supplies as
| II appeared some time ago. and II Is
now estimated by our friends abroad
that only 100000 tons from Cuba will
be required to complete the U. X.
needs OF this campaign, n good part
OF which has already been purchased
II such proves correct and the Cuba
crop reaches its full 1900 900 tons, as
now seems possible, there will have to
be n general REIMBURSEMENT of recent
expectations of extreme high prices
for sugar at any time this season.
We deem II well to call attention
to the danger of speculative buying
Of either raws or refined at much
above the high level of prices already
touched, and mt the same time would
not be ut all positive that for limit
ed period during the summer months
the prices of both raw and refined
will not rise some distance above the
recent level of 3kc. c. 4 I. 4SGcJ
for raws and 5.90c. for refined, so
that buying freely for necessary sup
plies through the early summer
months Is Il fairly safe proposition.
Our latest Cuba crop analysis shows
an improving tendency to The crop
outturn, not requiring any reduction
In previous estimates of 800, 900 tons
The itemized returns received during
the week from various estates con-
d, firms this statement, Notwithstanding
the receipts ut shipping ports In Cuba
remain behind those of former years
and appear difficult to be made up ex-
cept from long continued favorable
weather for the remainder of the
grinding season,
Frequent Interruptions by bad wea'
Their have already reduced the work
ing days, and should such continue
the final Outturn may still be eur
tailed but for the present ut leas
II II advisable Ia look for full crol
OF sugar In Cuba this season,