Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-02-06

" iItPtt u hFdN sugar TauC jour
nal for January l. says:
STATISTICS BY SPECIAL CA
.BLES-Cuba-The six principal ports
Receipts. $500 tons; exports. $4,000;
stock, $1,000 tons, against $4,000 tons
last year Centrals grinding, l43
against ll9 last week. 1872 last year
and 1870 in 1912 Entire island re-
ceipts for week, 81 COO tons, againsts
%. 900 tons last week, $4,000 tons last
year and $4,000 tons in 1912. Stocks
in the United States and Cuba to
gether of 1852 tons, against 1887
tons last week and 104.667 tons last
year, an increase of 1905 tons from
last year.
Europe.-Stock in Europe, 3,63S,OO0
tons, against 100000 tons last year.
VISIBLE SUPPLY.-TOtal stock OF
Europe and America, 3,SS1,672 tons.
against 3,564,667 tons last year at the
same uneven dates. The increase OF
stock is 317,005 tons against an in
crease of 457 sos tons last week. To
tai stocks and afloats together show
visible supply of 3,956,672 tons
against 3,613,G67 tons last year, or an
increase of 343,005 tons.
RAWS.-We have to note improv-
ing markets, both at home and abroad,
during the week under review. Cuba
centrifugals advanced cents per 100
pounds to 329c and Porto RicOs also
the same rise to 3.26c per lb. and
are now held at the same parity as
Cubas, 3.29c for January arrival and
3.261zc for February arrival up to the
8th.
Cubas for January shipment sold
quite freely at 15-16c c. C f. (3.29c),
closing with I 31-32c. & f. asked for
moderate amount and &c C. & +.
(3.36cl generally demanded for both
late January and February shipments.
No sales of March shipments have
yet been made.
Operators would pay 1-32c C. & f.
for March but it requires 2 1-16c to
2 1-Sc c. & f. to buy such.
There are 80 days still during which
uncertainties regarding the course OF
prices of both Cubas and Porto Ricos
will exist, but by the middle Of Feb
ruary the values of sugar on the new
duty basis will begin to become nor
NAL.
Just now with prompt Cubas sell
ing at 15-16c c. & f. (329c) and with
March held 1-Sc C. & f., equal 3.4S5c
old-duty basis, or 3.13c new-duty basis.
it would seem that 1856 per ID. Of
the .343c per lb. reduction of duties
is already about made and that this
difference may be maintained by the
increasing disposition of both refiners
and operators to purchase Cuba sugar
for an advance in cost and freight
value after March i. If so then the
market will gradually pass from old
duty to neW-datyI basis without the an
ticipated apparent reduction of BABE
per Id. but, rather, with only about zoe
per h. reduction. leaving the remain
der. .143c per h., to the advantage Of
Cuba.
Also if this proves correct the re-
mainder of the Porto Rico crop can be
sold to considerably better advantage
after March / than if sold on REIN
ers' terms for arrival after February
AS regards the ability of Cuban es-
tates to withhold their production
from being forced to sale for lack of
funds to carry it, the conditions seem
to have improved somewhat at least
The largest producing estates are find
ing no difficulty in this respect and
have in several instances adopted the
<Nfr hnl hnir
the markets improve. The weaker es-
tates will thus have the market to
themselves to supply current wants up
to March or April. Thus the uncer
tain period to middle of February may
be passed without seeing any lower
values for either Cubas or Porto Ricos
than have already been quoted during
the past 30 days.
All refineries that have been closed
have now resumed work, and if what
we have said about the course of the
raw market is worthy of considera
ton, then it would seem that the con
dition of refined is approximately &C.
cure near the &C per h. basis against
more than possibly small temporary
a temporary surplus production exists
in one or more retiners' hands.
The receipts of raws at Atlantic
ports were comparatively large dur
ing the week-61,998 tons, but nc
larger probably, even with the sugars
still to come in under the old duty
basis than can all be used before
March, considering that some of these
arrivals will go into warehouse tt
come out under new-duty rates
European markets improved for bee
sugar 1hd for prompt and Ad fol
futures, and for cane sugar 112d, bott
beet and cane closing at highest point
Our market closes with prices full
up and with a sale to Spectator re
ported of 10000 bags Cubas for Feb
ruary shipment at l 21-32c C. & f
J (3.32c).
CUBA CROP-Special cables re