Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-04-15

l.. SIAlISIlCS b1 SHECIAL "a
BEES-Cuba: Thet six principal
ports:
Receipts, $4,000 tons; exports 49,
900; stock, 700 tons, against 324,-
900 tons last year.
Central grinding, ia, against ia
last week, ia last year and 173 in
1912.
Entire island receipts for week.
lis 900 tons, against III 900 tons last
week, $4,000 tons last year and "a,
900 tons in 1912.
Stocks in the United States and
Cuba together of 1850 tons, against
705.752 tons last week and '554 ,4S5
tons last year, an increase of 1S9, OPS
tons from last year
Europe Stock in Europe, 1924 900
tons, against 3.432,0o0 tons last year.
VISIBLE SUPPLY.-Total stock of
Europe and America, 4,167 $40 tons
against 3,9S6,4S5 tons last year at the
same uneven dates. The increase Of
stock is 1S1,025 tons against an in.
crease of 1S9,402 tons last week. To.
tai stocks and afoats together show
visible supply OF 4,327,510 tons
against 4,112,4S5 tons last year, or an
increase of 215,025 tons.
RAWS.--FolIowing the large pur.
chases reported at the close of last
week, including one sale at the basis
of 3.01c duty paid. which would have
raised the spot quotation for the day
to this basis, except that there follow.
ed Immediately further sales at the
previous basis of 2.98c per Id.
This quotation remained in force
until Wednesday, during which time
refiners were comparatively quiet, but
spectators took several parcels az
the &c c. & I. basis (3.01c) for last
half April and1 31-32c c. & t. (2.98c1
for early April shipment. g.. =
The market weakened somewhat
after receipt of the Cuba cable on
Tuesday, giving continued heavy is
land receipts (11S.000 tons), with the
full number Of Centrals working (174)
and with continued fine weather.
This news was felt adversely in the
market and led to busipness in $4,000
to 100000 bags Cubas and Porto Rico
Centrifugals for prompt shipment at
2.95c per h., reducing spot quotation
to this basis--a decline of 1-16c per
Id. for the week ~ ."
Cuba found further outlet for some
35, 900 tons In sales for Europe during
the week at 1.87c to 1.90c for April
and 1.94c per Id. for May delivery, {.
o. b. Cuba. H.. -
the United Kingdom market, which
has felt their effect in a decline of
lid. in SO degree cane sugar to IS.
3%d. per cwt. and a decline in. beet
sugar of 15kd. for March and I'D. for
other months. March now IS. 0%d.,
April IS. IND. and May IS. 2Ad.
March, the first month of the re-
duced duty basis, does not show that
Cuba has thus far benefited, as was
anticipated, Cuba Centrifugals on
March LIST were al basis Of 3.04c per
ID, new-duty paid, for SO degree test.
A few days later they declined to
3.01c; and a little later, on March 10th,
to 2.95c per h., rallied on the 18Th
to 2.9Sc, remaining there with excep-
ton of one sale at 3.01e until the
25th, when 2.95c was again quoted.
or course the large crop receipts re-
quiring prompt sales, to a considerable
extent, accounts for the disappoint
ment in the course of prices to plant
ers, but as an offset to this, which
may work to their advantage later,
are the liberal exports made to Eu-
rope, but more important still is the
increase in United States MEETINGS for
consumption during March. ~
From January 1st to March LIST our
MEETINGS were $1,000 tons behind last
year for same time, while, at this
writing, the MEETINGS are only $4,000
tons behind last year. -. -
Our estimated visible production OF
Cuba is now 163,749 tons over last
year at same time.
The influence Of the month Of
March under the lower duty has been
less visible in the refined than in the
Traws.
As frequently stated by us previous
to March LIST, the influence of the low,
cred duty was being largely discount
ed before it came into actual opera
ton and at the expense of losses to
refiners. 49,.
On March 1st the granulated quo
tation was 4c less per cent, exactly
where it had been for long time pre-
yious, even back to December &c.
1913, during all which period refin-
ers were working on a marginal diff
ference between raws and refined of
.69c per Id. to 44c per h., showing a
continued loss during that period of
transition from the old to the new
duty basis.
The change of tariff basis on March
LIST, without change in quotations,
raised the marginal difference to .S8c
per Id. This margin has been since
reduced to TAG per lib. and recovered
to $3.50 per h., which is about the
normal basis under a one-cent duty
basis for 96-degree raws.
At this difference refiners are sup
plying the country with refined STAN
dard granulated at 3.773c per ID. net,
against 4.165c per lb. net last year at
this time. a reduction of 1920 per h.,
against .343c per ID. reduction in tar
iff.
The notable feature deve1oned in