Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-07-21
WILLETT 8 GRAY
GIVE --LATEST
SUGAR news

Willett & Grays Sugar Journal Of
latest date says
STATISTICS. BY SPECIAL CA.
BLES. six principal
ports: Receipts, 1000 tons: ex
ports, $4,000 tons; stock, 525,eOe
tons. -..:
Centrals grinding q, against % las
week, p last year and 6 in 1911
Stocks in the United States and Gu
ba together of 972.943 tons, against l..
e24,57l tons last week and J656.S3:
tons last year, an increase Of 316,1l1
tons from last year.
/ Europe.-Stock in Europe, 2,223,00(
tons, against 1.577.O00 tons last year
VISIBLE SUPPLY. - Total Stocl
| OF Europe and America, 1885, 43 IONS
against 2,233,S32 tons last year at the
same uneven dates The increase Of
stock is 9S2.11I tons against an in
crease OF 1,014.292 tons last week To
tai stocks and afloats together show Z
visible supply of 3,346,943 tons agains
2,3SS.S32 tons last year. or an in
tcrease of 95S,111 tons.
RAWS. =. Centrifugals, SO degree
test, advanced 12c per 100 lbs, for the
week, to g. 4Sc. per Id. The cost anC
freight basis correspondingly advanc'
ed to 2 1-Sc c. & f. for early July
shipment.
Previous to this price paid by tho
Federal, it had been difficult to obtain
this price except for August shipment
and the rise has been rather too rapiG
to continue further Immediately.
The printing last week of our esti
mate that some $4,000 tons of full-duty
sugar may be required to fill out oul
consumption this year evidently has
been followed by conclusions thai
these sugars, being required 10 be pur
chased at the worlds price at Ham
burg. which price was then .63c above
1.-THE centrifugal parity here, would ne
lcessitate steady advance in centrifu
gal values eliminating in 5-8c per lb
rise unless beet sugar already on {
near to cost basis should further de
feline
The early buyers for this advances
were both spectators and refiners
and without securing very much sugal
have reduced the parity margin O
profit from 63c to~51c in week
This upward movement is dupli
cate of that of every season when Tor
Ieign full-duty sugars are needed neal
the close of the campaign.
This year we had thought that the
large Cuba crop would eliminate this
annual rise, and it would have done
so but for the largely increased drafts
made upon 1t by Europe over former
years.
These speculative anticipations may
not be fully verified, yet should the
new tariff not go into effect before
March 1, 1914, which will give oppor-
tunity for the marketing of the next
crops of domestic cane and beet sugar
to large extent under the present
tariff protection.
There still remain a larger amount
/ of last seasons domestic Beet crop
sugar in stock, waiting a market, than
was on hand at this time last year
from the previous crop. This stock
and that to be made and marketed
before March 1, 1914, may still elm
mate the necessity for imports of full
duty sugar at the worlds price dur
ing this season.
1t is already evident that Cuba is
to be the greatest beneficiary of re-
duced duties for the coming three
years.
Cuba can continue increasing her
sugar crops without limitation and
without the same fear of free-duty
sugar thereafter as attaches to our
domestic cane and beet sugar, our
Porto Rico and our Hawaiian sugar
industries.
Our Washington adyices make 1t
clear, we think, that no changes are
likely to be made in the sugar sched-
ule that will tone down the above
statement. Hence Cuba will be look
ed to, under free sugar, to become the
greatest competitor against the world
in supplying these United States
with sugar at lowest cost to consum-
ers unless Germany and Austria re-
vive again their old benefits to ex-
pofters of their surplus productions by
bounties and kartels, against which
gifts to the u. S. consumers no OBJ
lection is made in the new tariff but,
rather, an invitation is given by the
absence of countervailing and dump
ing duties against such in the tariff
as ccIcerns free sugar. The policy,
as indicated, is, if any nation or peo-
pie wish to make presents to US we
will accept them for the people.
The Philippines have been shut out
of our markets thus far this season
by reason of the low prices for Cuba
sugar and relatively higher prices in
Eastern markets but our cable ad.
vices today give 1900 tons shipment
to San Francisco in June and 1000
tons eastward China and Japan.
Indications point to decline in the
East and advance here, sufficient to
enable the Philippines to market part
of the balance of crop here.
EUROPEAN BEET CROP - F. o.
LIGHT cables us specially from Madge-
burg, Germany, June u, 1913:
Weather is favorable for field work
and for the growing CROP"
July /, 1913-'"The weather is most
ly favorable for the growing CROP
CUPA CROP-Special cables re-
ceived by us from Havana, Cuba:
+ June y, 1919. Heavy rain gener-
ally: Il Centrals grinding, against %