Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-10-07
NlLLETT & Ora
& We LATEST
ON SUGAR
. p - MMIN zH.HHHH

nal for September Is gives the fol
lowing market report and news about
the sugar tariff:
Statistics by Special Cables. Cuba.
The six principal ports: Receipts,
|, 900 tons; exports, $4,000 tons,
stock. 101 900 tons. l..
Centrals grinding I. against 2 last
year and none IN 1911. s.
Receipts entire island 10000 tons,
against 5000 tons last week, 4,00e
tons last year and 1000 tons in 1911
Stocks in the United States and
Cuba together of 362, 900 tons, against
3S1 800 tons last week and 214,6S6
tons last year, an. Increase of IA, 314
tons from last year.
Europe Stock in Europe, s47, 900
tons. against $4,000 tons last year.
Visible supply Total stock OF
Europe and America, 1,308, 0G0 tons
against 829, eS6 tons last year at the
same uneven dates The increase Of
stock is 479,314 tons against an IN
crease of 446, 500 tons last week. The
total stocks and afloats together
sho wa visible supply of 1879, 900
IOuS dEd1u8L 4tOUltOOB IOuS last Il,
or an increase of go. $14 tons.
Raws.- Quotations declined 6 cts.
per 100 lbs. to equivalent of 3.67c per
10. for SO degree test centrifugals, say
p 5-16c. .c.&f., followed by a further
decline to 2kc eff, reducing spot
quotations to 3.61c..
The week under review was subject
to influences that are quite unusual
as compared with several past sea-
sons. {,
Just one little difference is account.
sble for the greater difference being
experienced.
The necessity of adding to our local
supplies last year by imports of about
so, 600 tons of fullduty sugar sustain
ed our local markets at that time.
The absence of such necessity this
season by reason of a surplus of sup
plies at home, causes weakness
every time sugars from the local sup
plies are put on the market in adj
vance of the hand-to-mouth basis on
which all sugar business is now being
done from the refiner to the retailer.
Refiners' own stocks are not yet
down to this hand to-mouth basis, and
all efforts to induce them to take on
more stock until this condition is
touched, results in concessions by
sellers necessary to be made
The local supplies for use by refin-
ers to end of year are not excessive,
and if 1t is possible to withhold them
from the market until refiners can
handle them on the handrto-mouth
basis, more satisfactory results to
sellers would3no doubt result.
As 1t is cargoes are arriving unsold,
with but a few days in which to sell
or warehouse, and weak market re-
suits
1t may be said also that buying raws
in anticipation of much larger de-
mand for the refined products in Sep
TENDER than actually materialized, has
to do with the present inability of re-
timers to keep the market clear of Of
ferings at full prices.
We are inclined to think that F. o.
LIGHTS commercial estimate, given
herewith, of the European beet crops,
1874, Is somewhat more favorable
for higher range Of prices for the
crop than was obtained for the past
crop. The first deliveries, however,
in October are quoted at 9s. 3Ad. per
cwt, which price scarcely covers the
cost Of production. Futures of May
and UPWARDS, however, show 21sd. adj
vance during September to date.
In brief, the commercial estimate
shows a total for all Europe of an ,Rv-
erage between maximum and mini
mum of S,455,000 tons, against actual
last season of 2,305, 900 tons, prob
able increase of only 10000 tons for
this season, but what is of special Inn
portance is that Germany, Austria and
France give less expectation than last
year, and the increase of 100000 tons
in Russia is Of less importance under
the controlling influence of the Rus
siGn government, which may or may
not divert its surplus in competition
elsewhere. II
Russia's crop last year was a par
tial failure, and less stock goes over
into the new season than last year. =
The consumption is increasing from
about % pounds per capita in 1911-12.
Our Russian correspondence, here
with, is interesting
Hence, at first view, we look for inn
proved sugar conditions in Europe for
l914s>when viewed Independent of the
crops which go to make up the United
States requirements. =
The low prices ruling in the United
Kingdom, though 1sc to &c per lib.
higher than the duty basis parity of
the United States, produced an in
creased consumption for II months to
September / of S5,126 tons over 1912.
Cane crop conditions are fairly ia
vorable throughout, with no special
estimated increases or decreases for
next season.
Cuba is ending with one Central
grinding and full-up receipts for the
season, $4,000 tons this week.
Stocks in Island are so far reduced
thcG It seems they might be better
controlled till wanted. -
AT the close the sugars on the mar
ket remain unsold, and quotations re-
main nominally at 2Ac c. & f. and
8. 16c per Id. for 96deg. centrifugals.
h. ~