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

" IIlSII q 0TIdS EDQSdI 4IdOc JOuI
nal for January l. says:
STATISTICS BY SPECIAL CA,
| uba-The six principal ports
Receipts. s. GG0 tons; exports. 1000:
= stock. $4,000 tons, against 32.000 tons
last year. Gentrals grinding, 1913.
against ll9 last week, 1872 last year
and 1870 il 1912. Entire island re-
ceipts for week, 81 600 tons, againsts
53, 600 tons last week. $1,000 tons last
year and $4,000 tons in 1912. Stocks
in the United States and Cuba to-
gether of 243,612 tons. against 1881
tens last week and lC4,667 tons last
year, an increase of I59,0C5 tons from
last year.
!; Europe.-Stock in Europe. 2,63S,00
tons, against 3,460.000 tons last year.
/ VISIBLE SUPPLY.-Total stock Of
Europe and America, 3.SS1,GI2 tons,
against 3,564,66I tons last year at the
same uneven dates. The increase Of
stock is 3l7,005 tons against an in
crease of 457,S0S tons last week. To-
tai stocks and afloats together show
a visible supply of 3,956,612 tons
: against 3,613,667 tons last year, or an
! increase OF j4J,tUD IONS.
/ 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 326c per ID. and
are now held at the same parity as
! Cubas, $3.50 for January arrival and
32G12c for February arrival up to the
/ Sth.
'Cubas for January shipment sold
quite freely at ! 15-l6c c. & t. (3.29c),
closing with l 31-32c. & f. asked for
a moderate amount and &c c. & t.
(3.36cl generally demanded for both
late January and February shipments.
! No sales of March shipments have
| yet been made.
Operators would pay 2 1-32c c. & f,
for March but it requires 2 1-16c to
2 l-Sc c. & T. 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 l 15d6c c. & f. (3.29c) and with
March held 2 1-Sc c. & T., equal 3.485c
old-duty basis, or 3.13c new-duty basis,
it would seem that 1850 per Id. of
the .343c per ID. 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 !. If so then the
| market will gradually pass from old
I duty to new-duty basis without the an
ticipated apparent reduction, of .343c
per 10. but, rather, with only about .20c
per ID. reduction, leaving the remain
der, 143c per lb., 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 l than if sold on REIN
ers' terms for arrival after February
IA, which is now stated at 2.95c.
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
policy of Withholding their sugar until
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 80 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-
ditiOn Of refined is approximately Sc
cure near the &C per ID. basis against
more than possibly small temporary
reduction if jobbers can hold out until
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 ,99S tons, but no
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 to
come out under new-duty rates.
European markets improved for beet
sugar / I'D for prompt and sd for
futures. and for cane sugar I'D. both
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 2l-32c c. & f.
$500.
CUBA CROP-Special cables re-