The Hawaiian gazette., 1915-07-16
SUGAR PR|CESFALL
WITHOUT REASON
$50. 49, '.".,rl2+'
New York Market Should Be
Better With All Facts
Considered
."s7 49, .s.
Export Orders Were Heavy But
Less Confidence Shown
At Future

Willet & Gray report the sale of
100000 bags of Cubas, Porto Ricas,
Surinam, Peru and San Domingo raws
and 1900 tons Peru and San Domingo
during the week ending July ]. Their
report in part states that during the
week, Cubas remained at 4.S9c, while
the Porto Ricos declined to Assoc per
ID, OF course If Cubas were free of
duty their market value would be the
same as the Porto Ricos, but by reason
of being available for use in the pro.
duction of refined for export, tina
Cubas command the higher value, and
the un-duty sugars for the same reasUn
nre Of higher market value than the
Cubas.
Explanation Of Prices
The fact of there having been and
still continuing, and expected to be con-
tinued, good demand for refinod for
export, the sugars which pay duty
will continue to command a higher
market quotation than free duty sugars
which can be used only for the direct
cOnsumptive demand, which just ut
present is over supplied by rPfiners :
surplus production.
After o good proportion of an 81, 900
bag lot of Porto Ricos which had been
pressing for sale had been absorbed q
new demand for refined for export, in
Guiding sales of $4,000 tons granulatod,
gave a strengthening tone and tendency
to the market. The sales of refined
for export are understood to be in part
at 4.65c T. o. b. net cash, in Oond.
No Rebate Now
The treasury department las Issued
an order to Customs Collectors
to continue to collect duties on sugar in
full, without making the SO discount
allowance, and to suspend lqu.Jation
pending the decision of the Cuitea
States Supreme Court.
AS the suspension Of liquidation, us
above, would cause indefinite delay and
inconv enience to importers and rein.
ers, especially in their export draw.
back business, an effort is being made
to have new orders issued permitting
liquidatiOns as heretofore and subject
to re-iquidation on the decision of tho
Supreme Court, if necessary.
The Cuba crop making has gone on
during the week, but receipts are below
last year $4,000 tons against 81 900
tons.
The visible crop is now 2,323,7l3 tons,
against 1884 ,223 tons last year to same
date
Total Cuban Exports
The week 8 exports to Europe were
5000 tons, bringing the total to date
to about 900, 600 tons from present Cuba
crop, against entire total from the last
crop of 3O4,565 tons
Mails from Australia report further
unfavOrable weather, leading to a re
duced crop estimate to 100000 tons.
Australia expects a shortage in supplies
of sugar about August, which is expect
ed to be made up from Java.
Sugar Cargo Lost
rress reports state that the British
steamship Scottish Monarch, from New
York June IS, with a cargo of about
1000 tons refined sugar for Manchester,
England, was sunk on Tuesday, the Doth
ult., off the Irish coast by a German
submarine.
At the close, the market is steady
and firm at full-up quotations, with
tone and tendency towards further i'm
provement
For local distribution the situation of
refined has remained unchanged. For
foreign export business the enquiries
turned into actual orders, and large
business resulted to England, to extend
of some $4,000 tons, understood in part
at 4.65c, net cash in bond, f. o. b.
British Buying
Statistics of Great Britain s sugar
position on June l gave indications of
this demand and a continuance of it
20 a quite considerable extent for sup
plies throughout July and August.
This relief or contraction of supplies
for our local trade consumption must
be considered as indicating firmRess
and probably some improvement to the
present quotations. Full stocks should
be carried
German Bsets
+. o. LIGHT reports on the German
situation June as follows:
The week opened cool and cloudy, with
light showers in the south and ra'.s
of the east aud coast Later it was
warmer and generally dry. Under these
conditions field work suffered no inter
ruptiOns. The first hOeing is practlC-
ally finished except in the north, while
for the most part thinning is also fin
ished. The latter work was especially
eaSv and successful in many Central
and East German sections owing to the
dry conditions, which it Is constantly
hoped will soon be ended by heavy
rains. As to the present progress and
stand Of the beets, current, reports are
generally satisfactory, but especially in
Central Germany warm showers are
greatly needed if this condition is to
continue. On May 3lst the Government
released the remaining 10 per cent Of
the contingent for inland consumption.
Reports from the Russian and AustrO.