The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1914-11-06
.WALETT & GRAY'S FIRST
WORLD CROP ESTIMATE
1915 Cuban Crop Will Exceed One
Just Iiarvested-Beet Crops Will &
Show Big Falling OFF

.i. ~
For the week ending oetober %
wihett 4 Gray report few sales. The
Aafket isSpurely speculative especially
a come interests now claim that there
Is enough sugar in sight to supply the
home demand 70 october, 1915. In
part the report is as follows:
Raws
The receipts Of the week were down
to the lowest point in years, sos tons,
and stocks were reduced to s25, 522
tons, against l70,O74 tons last year.
The Cuba stock is 100000 tons. against
1000 tons last year, There are sell
trs DESTROYS Of closing out their hold
ings at 4.26c, including stock ware.
housed previously, by reason Of lack
of demand nj time Of arrival, in some
instances These sugars cannot be
pressed to sale without further con.
eessions, but prices have now reached
d low level that begins to make pur.
ehaBes of new-crop Cnbas for January
March deliveries look desirable at say
30 per pound {. o. b. Cuba or prae-
tically 41sc per pound, duty paid New
York. Some interest is being shown
in such purchasing, which may lead to
business soon.
German Exports ".>, s
Germany, as anticipated, has remov-
ed its export embargo as far as to
permit shipments of its sugar crops to
neutral countries. This permission had
been expected for some time and had
been intimated TO us by several
PARTIES interested in the exporting Of
German and Austrian sugars, before It
was Officially announced. This deci
zion was eoinniunicated to our govern
ment Mt Washington BY the United
States consul at Magdeburg, who re-
ports 100000 to 100000 tons sugar as
now ready for shipment and some
100000 tons TO be had later on. He
NdSises shipments to lie made to the
United States by American vessels, but
the way does not seem clear enough
as yet for the safe arrival of such
shipments.
The sellers, however, appear to con
rider some way clear for delivering the
sugar in the United States, as the
offers to sell cover such deliveries and
provide for payments here after deliy-
cry.
Prices Lower Few Sales
IL our marl1ets were not over-sup-
Piled with cane sugars, and with a
new Cuba crop near at hand, to be sold
at its beginning as fast as made, in
many instances, 70 meet financial needs
Of planters, there would no doubt be
a direct interest shown in this oppor-
unity for securing some beet sugar
from Europe ngainstN contingencies
that may arise carly next year as to
sufficient regular supplies from our
free and preferential producers. As
il IL, however, these offerings now have
only the indirect influence Of depress-
ing the prices Of all sugars without
leading to business in beet sugar.
Austria, Hungary representatives Of
sugar manufacturers are Also active
here in soliciting orders in anticipa-
ton Of their embargo against exports
keing raised soon. OF course, il also
stands in the way of the business in
European beet sugar, that it is not yet
developed that the usual supplies Of
cane sugars will not prove ample for
the wants of the United States under
somewhat reduced consumption for
the present campaign year TO 0eto-
Der l, 1915.
Great Britain Not Buying
The only interference in this respect
is likely 10 come from Great Britain,
and just at present that nation is
being pressed to buy sugar from sew.
oral sources beyond her capacity TO
respond, and such possible drawing
from our normal supplies is postponed
into next April or later.
In the mean time, Cuba new crop
sugar will have found its lowest level
of the crop year and have an advanc-
ing trend.
Great Britain government bought
some 100000 to 250, 900 tons of the early
deliveries OF Cuba sugar at assoc to
80 per pound I. 0. b. Cuba, under the
excitement OF early August in which
she stands 10 be ahdeisold BY private
interests buying at the lower level,
either OF raw sugar in Cuba or refined
sugar in the United States.
If the latter should be bought to
any large extent for export then the
German and Atstrih, Hungary beet
sugar may come into the United States
TO advantage to replace such export
demand, all OF which win conduee to
the benefit of American refners in this
campaign year.
The future of sugar forms most
interesting subject Of constant con.
lecture.
y Our cane and beet crop estimates
are subject 70 changes as events de,
velop, but for the present, at least
they represent our opinion as exports,
as fairly as can be made, without pref,
udiee to any country or interest.