Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-01-08


nal for December "a SAYS:
/ Statistics by Special Cahles-Cuba
new erop.-The six principal ports:
Receipts. $4,000 tons: exports 5000;
7 stock. 1900 tons. against 1900 tons
last year.
CentTals grinding, SO. against 81 last
! week, 81 last, year and - in 1911. -
T Entire island receipts for week, 80,
600 tons. against $4,000 tons last week
I $1,000 TORS last year and S0e0 tons in
t1911. ..
Stocks in the United States and Gu
ha together of 143, 42s tons. against
Il16.547 tons last week and 1854 tons
last year. an increase Of 1884 tons
from last year.
Europe IN Europe. 8. 4o7, 900
Ions, against 100000 tons last year.
F Visible Supply. -Total stock in Eu.
rope and America, $3.50, 428 tons
against 3.169 ,594 tons last year at the
same uneven dates. The increase OF
stock is. $50 1874 tons against an in.
crease of 369. 634 tons last week. To-
tai stocks and afloats together show a
visible supply of 1851, 428 tons against
} ,234.594 tons last year, or an increase
of 346, 1874 tons.
.Raws-The market quotation for SO
degree centrifagals last week was
3.33c per h., basel on sales of Cuba
centrifugals for prompt December
clearance at / 3l-32c c. & I. mdmedi4
ately following our last issue, sales
were confirmed for December clear.
ance at l &c c. & f. reducing the duty
paid quotation to- 3.23c per h., which
is still the value Of Cuba centrifugals.
A further important decline is to
be noted in Porto, Rico free-duty sI.
gar, owing to the abnormal conditions
under which the Porto Rico free-duty
crop is being forced to sale In order
to retain as much as possible of the
34c per 100 lbs. reduction OF .luty on
March 1st next &
Owing to- the coming OF the reduced
duty. the buying capacity of the mar
ket is restricted to the hand.to-mouth
requirements Of refiners to meet the
same hand.to-nnouth demand which ex
lists for the refined product.
The Porto Ricans desire to force
sales on a restricted market, az was
done early in this year, produces an
abnermai condition under tariff influ-
enee, that has not been experienced
for a great many years, not since the
present tariff began in 1897.
The present, market variance may
continue until the middle of January,
by which time both Porto Rico and Gu
la should become settled on the new
duty basis and the market quotations
assume their normal relations again..
AS Cuba eventually will become the
leading market, as. heretofore, We
shall continue our market quotations
on the basis of Cuban sales, while CIV
ing also the particulars of all Porto
Rico sales which, as will be noted in
our last weeks report, carry with
them, in instances, certain guarantees
as to times Of arrival in the Unfte,l
States.
Sales this week of Porto Ricos were
made at frequent reductions, closing
with sale for December and early jan
uary shipment at 3Ise per H., while
Cubas can be sold at / &c G. & T., equal
to 3.23c per Id. duty paid
The last sale of Porto Ricos absorbsl
.1011c Of the .34Sc duty reduction when
applied to the parity of Cuba centrifu-
gals at 3.23c per ID.
: Except for the weakened money
position of some Cuba planters who
must sell their sugars in near compe.
tition with Porto Rico as TO prices for a
few weeks still, we should be willing
to say that the market quotations
based on Cuba centrffugals are near.
ly, If not quite, running along the bot.
tom, and. that as February comes
nearer "a turn upward for new duty
shipments viii help both Cuba and
Porto Rico, as We feel sure that soon
er or later the low Cuba prices will
attract the attention of local refinersi
p