Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-12-04
VILLETT & GRAY
Did NOT FORESEE
RISE PRICES
Issue of Nov. 10 Considered
Downward Trend and EaS-
Ter Market Probable

Journal is exceptionally reliable, in
the issue Of November Is made 9
forecast of a downward trend in
prices. Excerpts from the market re
view of that date follow:
s"The week under review becomes
important. as 1t possibly marks the
culmination of the recent stringeney
in available supplies. With the ex.
ception Of slight imperative demand
from outport refners, for immediate
delivery from New York warehouses.
all local refners have been able to
supply their requirements without ad-
yancing the market quotation above
the &C {. & +. (5.02c per h., duty paidl,
limit of the previous week.
s9n fact, as we go to press small
sale of afoats was made at Alto, fol-
lowed by early December shipment
at same price.
2 During the strong market for spot
sugar the sellers of futures for ship
ment in December were able to obtain,
in instances, as high as 5.02c from To-
cal reffners and k05c from outports
(Philadelphia). and for first-half Janu-
airy shipments 3%c G. & I. and for Feb
ruary 3-16c c. & +. After these sales
an advance was asked above these
prices, but as buyers did not respond,
holders gradually reduced their views
until, as we go to press, quotations
are as follows: December Ate, sell
ers, early January 4.26c, sales, all
January 4.26c, sellers, February 4.07c,
sales. As sellers are showing, at this
writing, more desire to sell, it looks
very much as IL the present upward
reaction from 2Hc c. & (. to &c c. & I.
has finally eliminated, as intimated
above. II so the market should grad.
ually return to the usual normal con.
ditions preceding a large new Cuba
crop.
THE offering Of domestic beet rein.
ed in New York City at 5.75c less Q
per cent and 5.50c less per cent in
nearby cities, against SC less 2 pei
cent for cane refined, will have an
influence to curtail the needs of cane
refiners for raw supplies as soon as
they catch up with contract deliver
les, now from one week to three
weeks behind with some refiners.
Taken altogether, at this writing
the sugar situations appears decidedly
easier, with the possibility Of a down.
ward trend to set In soon.
"Adyiees from New Orleans state
that the American has been active
in that market, and has secured some.
10000 tons new crop Louisiana rein.
inc GRADES a I ooc hasis az aag -.
livered New Orleans
4 nui.isn.
:
nlay,il.y, u No. cary all OF lne
lesselase, Aass gsfun srlnuths. no
cs,pts eN new cteRl Sweat a1 new
Ot,s4hsl arg lshs - yst, n0Wsfer, anu
5s salss hs1S 2ss4 . Ma9s. Vn SAT-
slVssz, SpkelllaDSF ,A9s there was SAFE
W. tfen4sFsyh gI LoutSlana rennlng
races eesls ~ oega aellvered, al
asSys. ahf saiss 9h Mohaay TO the
american at 4.SVc.
Suna.
Receipts at the shipping ports for
the week amounted to 4.242 tons
against 10000 tons last year. Exports
fol-, the, week were 30,34S tons, OF
which Messrs. Guma-Mejer cable, 1851
tons were exported to Europe and bal.
ance to the United States Atlantic
ports. Stock is reduced to 1928
tons, compared with 1900 tons last
year. Weather was reported as fne
during the first part of the week, but
as unsettled later on. Some advices
from the eastern end of the island
heavy rains in that section.
Messrs. Guma-Mejer have cabled us
their figures for the outturn of the
1914-15 Cuba crop just ended as q
592,667 tons. This is only 5O65 tons
less than the previous 1913-14) crop
outturned, say 2,597,732 tons. On Dc
tober 20, 1914, we gave a forecast
stating that we expected la crop of
2, 100000 tons for 1914-15. After re-
ceipt of our usual second report on
the crop from a majority of factories,
In February, 1915, we still adhered
to our original estimate of $780, 900
tons, although others in February and
March because of wet weather and low
yields at the start Of the crop were
influenced into making reductions to
figures between 2,350,00O and 100000
tone Tn cnito of or;f;oicy,, 1.,o ,oo;n