The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-08-06
EUROPEAN BUYING
Lowers THE PRICE
Because Purchases Were Of For
eign Sugars Indicating
,& Broadening Of Field
Unfayorable Growing Weather
And Coal Shortage Should
Strengthen Market Later
-! Hisf.i,Eiy s... ..tF r,tsE

Sales in the New York market for
the4week ending July 20, were one lot
of 4Oo--50e, 900 bags Cubas and Porto
Ricos, August shipment, to refners at
4.s9 and 600 tons San Domingos to
France. = ~
A surprise was sprung on the market
July 23, as reported in Willett g.
Gray's Daily of that date, which stat
ed, 'FCable advices from England to-
day are quite important in that they
report that the United Kingdom has
secured $4,000. tons Mauritins sugars.
This crop starts harvesting in August
so that these sugars will undoubtedly
be shipped during August to December.
why The Price Fell :
l"This purchase may affect the
amount Of further purchases of gran
ulated sugars by the United Kingdom
from Java. Purchases TO date from
Java are generally considered at ESQ.,,
900 tons but well.informed parties are
strongly Of the belief that Java sales
to England total 400 900 tons. -
eff the latter figures are confirmed
IL will tend TO decrease the purchases
of American granulated for export, but
If the smaller figures are correct the
English government will still have to
buy reasonably large quantities of
American graduated to supply their
wants for white sugars.
"Advices from the West Indies July
20, were that the English government
kas heen very active in that quarter
and has secured supplies estimated at
2n-25,000 tons"
On July 80, as previously announced,
New York cables advised drop to
4 "a with a corresponding cut in ,'rer
fined from $50 to 5.75; England buy
ing 10000 tons of raws. Full explana-
tinn of the situation will not arrive in
Honolulu short of another week.
A Local View
The oninion was advanced by n lead
ing banker Yesterday that there is con.
siderable Juggling Of stocks the world
over for the nurpose of shaking out
speculative holdinOs. The e"tersive
purchase Of Mauritils raws by England
ore probably simply an effort to ex-
tend financial relief to her French ally
There has been almost a comnlnte shut
down of manufacturing establishments
in France due to the coal shortage
the Germans now being in possession
Of the principal coal fields. The leu
tonic invaders have also crippled
French suqar production to a marked
decree. Without coal or other full sap
plies to run. her factories, France mnst
INV white sugars for her immediate
needs from England,i but NAV be ex
reeted to make larger purchases in
the United States If, through maniPula
ton. prices can be forced down.
r,,Ins. al An,arsa1n ofocka ora 10
600 tons in excess of last year. Also
there is undoubtedly an actual short
Gge in the worlds supply while con
sumption Is holding up WELL Hence
orr informant believes prices will holC
mt rear their present level for many
months to come especially If refinori
sleeeed in dislodOirg the large specn
iatiye h0lainPs still in, Cuban hands
How The Market stood
Willntt a Grav,s weekly report Of
Jnlv % Is in part as follows;
The American purchased from 900
350,nOn haos Of sugar for August ship
Htentat q .s9e. Resides this quantity
other bpEness was ,rSlaced bringing th'
tntal sales of August to abont 10000
faos II seems. however, that thes'
rrreh rses did not clear the market OF
offerings, as there still remains fair
" barge quantity Of August unsold a
4.s9e which up TO the present writing
bps not been Tlaced. @a..e ~, .'..
Re6ners' interest did not extend II
the .TrrIv or prornpt shiprnent nositions
and the market quotation for thes'
nosifions remains nominally unchange,
~ 4 go. althouob fair quantity u
obtairahlc ~ 4.S3e for Gubas and $50
for Porto Rieos Z hr.A" y nv a9..i
No Resscns Given
There, are no particular adViees Il
aSsnprt for the easier tendency of tn
market, excent that possibly some o.
~" holders in Cuba, who have beef
holding sugars for long time In tn
kenes of Oh tainino Acre. 4 Z, NAV hay
Siyen np all +hore of obtaining thi
6epFe and are now satisfied to clos
ont their haldiras ut Che market price
ana thRs end their interest in the pres
ere eynn. E',fl ....
EOutaide o. the oRe days LARGE husi
Fess. the market has ehRep comparative
" auiet, with practically no sales re
narted. France, however, pnFehase,
6n0 tors Of San Domingos, in stor
here AT az fob. -.
Receipts of PAWS at the Atlanti
Ports are less than the wHsk 3 melt
inSs and stoebs dseliue 17Etl tons +
a7o.1oh tons. Of which l2l 40 tons ar
held bv imperters.
D"mard For. Refined Better
DuriRD most Of the week under 70
vfrw.r the demand for SUGARS unde
e,jthdrpwsls was abopt fair. but q
Monday OF this week quite a GOOD ms
rpss was done since when the mark
has heeame auieter, onotstioDs remp'
rr.hsnSad ~ View Work, with ~
r-i"es nuotea % 6,Ioc, b,t selling has
at 600" both reunlar terms suga
can still be obtained At outports !