The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1912-01-05
WILLETT 8 GRAY
SUGAR REPORT

Willett & Gray under date of De
cember 81, say concerning the sugar
situation:
Raws.-The unsettled conditions of
the European markets noted last week
have been further emphasized during
the week under review by reason o.
new estimates of European beet crops
given out by the Factories" and by f.
TO- LIGHT, and also of the Cuban crop
by Messrs. Guma-Mejer.
All these estimates showing in
Icreases over previous expectation re-
suited in further decentralization of
prices in Europe, beet sugar for De.
cember declining rapidly from 15s Cd.
(5.31c.) to 15s. AID. to las. 71ad. and
to l4s. Cd C5.O9c) at the close, with
out rallies of consequence. Futures Tor
May declined from 15s. Cd. C5.37c) to
las 9%d (516cJ.
The crop estimate changes are most
important as giving evidence that the
short crop scare which raised beet
Quotations, under speculative innu-
ence, to 1875 (6O9c. parity N. " is
passing away to very considerable
extent, although it is not likely that
during the present campaign prices
will recede to normal values of former
years or until crops are again raised
to normal amount, but the fear of eX-
IRENE high prices at one time so gen
eral is eliminated from the situation.
This weeks estimate of European
beet crops by the Factories is 6,244.-
600 tons, an increase of $4,000 tons
over the previous estimate. F. o.
LIGHTS this weeks estimate is $780,
600 tons, an increase of 10000 tons
over the previous estimate.
Messrs. Guma- Mejer's Cuba crop es-
innate is l,S12,OO0 tons, an increase
of 32S,G49 tons over last years, an
amount nearly or quite sufficient %
/ fill out the wants of the United States
without paying the worlds prices in
any month of the year as has always
been necessary heretofore in each
year. OF course, Great Britain may
come into competition with the United
States for Cuba sugars, and thus de-
prive us of this expectation of indie
pendence.
/ ntI,s To o.
tent to the European decline.
Spot quotations, which last week
were 4.S75c per ID. for SO deg. centri-
fugals, are reduced to 4735c. by a few
sales of the week Also the price of
futures for shipment has declined
from 32sc. c. & f to 314c. (4.61c) per
ID. for early January shipmeIt of
Cuba centrifugals and to 4.4S5c. land
ed for late January shipment of Porto
Ricos and Cubas.
Cuban new crop sales thus far
amount to 100000 bags for delivery in
December up to late January, which is
as far forward as refiners have thus
far purchased.
Cuba crop grinding has been arac-
ticable, with 80 centrals this time
against IA centrals last year by red-
son of cessation of the heavy rains,
followed by season of dry and cooler
weather.
! Our latest cable gives the last Java
crop as 1,395,OOO tons, against pre-
vious estimate of 1,S75010 tons,
Russian crop figures give surplus
of $4,000 tons stocks not required for
home consumption or reserve.
/ Refned.-List prices remain uu-
changed for the week by all cdre re-
finers, basis of graduated at 5.75c.
less 2 per cent, and by Michigan beet
factories at 5.55c. less per cent New
York basis.
The demand has been fairly good
and few grades are oversold.
There are no indications of any i'm
portant change before the turn of the
year.