Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-06-13
WILLETT & GRAY'S JOURNAL
GIVES LATEST ON SUGAR TRADE

ly Cuba cable, which was interpreted
as very favorable to improvement in
values, large and active demand fol.
lowed. establishing the spot quotation
. at 3.39c per h., which has continued
to the close. = .~z.<
Full details of sales for week arc
given herewith. ~ -" 49, =" - !"
Included In the business OF Tues
day ct $3.50, full duty paid, was q
sale of 1000 bags San Domingo Cen.
trifugals, afioat, 10 the American.
TheEe sugars generally 60 to Can
ada or Europe, and the purchase by
our refners 10 quite exceptional, as
Cuba usually underseils fuIl-duty SUI
gar. sss. y IS - II
The Cuba crop Developments Of
the week are quite important. From
So Centrals. the number working Is
reduced to ~. and grinding I'm the
Six Ports districts.is practically end
ed. s5,
With this crop ending come reduced
estimates, Messrs. Guma-Meyer com
ing down to 2.50S 90 tons and Mr.. Him.
ely to 2,529, 900 tons. .s
We have not changed our estimate,
based on private returns, from $780,.
600 tons since February, and appear
to have been somewhat fortunte in
this respect.
We are now enabled. to, give, fair
forecast of supplies and melting re.
quirements for remainder of year,
from which 1t appears quite possible
that q portion Of the exports made
from the Cuba crop to Europe may
still be required to come to the United
States late In the campaign, and IL
50, it must necessarily be at or about
the European values.
1t IL notable that while the United
Kingdom has been supplying fits need
of cane sugar at the Cuban parity
basis, the demand for beet sugar at
the Hamburg basis has decreased to
the extent OF an accumulation or
stocks IN Germany and Austria of
100000 tons above last year at this
time. The efforts making i1ow by the
holders Of this excess stock to dispose
of 1t is no doubt the principal cause
of the reaction now noted In European
quotations, notwithstanding the
strong advices from the United States
and Cuba.
Sellers disposition in this respect
may prevent further foreign demand
for. Cuba sugar, and In our estimates
herewith we have cut down such ex-
port to about $4,000 tons, against 1885,.
Al tons after June LIST last year.
In connection with the large buying
by refiners, there has been large
trade In future shipments, for account
of operators, for the advance. These
purchases include July aud August
and up to 21sc c. e. c. In cost oslo
duty paidl, for the latter shipment.
& Al comment here is suggestive as to
whether our advance has not proceed.
ed far enough at least for the present.
delivery here from the United King
dom tsugar now there) are on the
market at Tic c. & T., equal to. say,
3.45c, per h., duty paid, against June
values here Of $3.50 per ID. >. - :
European beet quotations, in sym
pathy with our market, rose from 9s.
SID, reacting ut close to IS. 71Rd.
Futures for August remain unchanged
at IS. 3D., after I'd. advance in the
meantime. Crop indications are favor
able. ; j -
We refer to our world crop esti-
mates herewith, in which several
changes are made. -.>~.
j. IAdia's report is important as, in:
ereasiTg its consumption of Javas. =
; At the close the rise seems to have
run Its course for the moment under
certain Influences and conditions
noted herewith.