Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-11-15
REFINERS HOLD
SMALLER Stocks
THANLAsT YEAR
Bio Shipments Due to Europe
Also Tend to Stiffen Prices
of Raw Sugar Now

AZ waIlsstreef. inltheir Market Letter
of October 20, point out that not only
has the demand for refined revived,
but that refners, facing large con-
tracts for delivery In Europe, have
stocks on hand far lower than those
at the same date last year. Their let
ter follows:
Business during the present week
has been greatly restricted by the
firmness Of sellers. who. after sales on
Tuesday, 18th inst. aggregating about
100000 bags Cubas for prompt and
November shipment at 3.25c c. I.
(4.26c), have been unwilling to do
anything further on that basis. Sub
sequently there was nothing at; all
available below 3.31c c. {. (4g32c) for
November shipment, and only very
limited quantity Of prompt Cubas at
2.375c c. I. l4.39c). As the week pro-
crossed the latter price might have
been paid had there been any afioat
sugars obtainable for immediate de-
livery, but a decided scarcity, Of ton
mage IN the Cuban trade precluded the
possibility OF secu1ing any supplies in
prcmpf positions. In fact, there is at
present much difficulty in even get
ting room for first-haf November
clearance
Sugars lying In warehouses; here,
although obthinables On the basis OF
3.S75c 9. (. f4.89c), were not attrac-
tive to refiners owing to unavoidable
delay In getting delivery at their re-
fiueries, the present congestion OF fat
cilities at the Port Of New York be-
ing such as to appreciably retard with
dFawais from warehouses. si,z
"A fairlys good demand for refined,
coincident with the conditions above
mentioned as attending the prompt
despatch Of sugars from Cuba has
recently developed very strong sit.
uation for the article IN general, which
is likely toprevail until the arrivals OF
raws 70 refiners at the Atlantic, ports
are again Of sufficient volume to sat
isfy melting requirements, for, II Inn
porters' holdings Of $4,000 tons be
Deducted from the published figures Of
tola1 4slo6kA. sNt fhd a dlnhtity lQrt'
In the hands Of refners as much as
log 900 tens less than carried BIZ them
at the borfespo ding date last year.
However, the maintenance of this POI.
sition depends largely upon the attiS
tude Of sellers OF the remaining CuDas
either In store here. or awaiting ship
ment from the island; these beins
practicaliy the only sugars reaaliy
available, holders Thereon nave control
Of the situation almost entirely NJ
their own hands.
another factor winch might Also
exert a ebenefloial influence IN the
near future II the melting require
Dnents Of freaners during the montns
Qf NoNembeE sDecembeE During that
period last year melting az the three
Atlantic ports aggregated S0S ,O00 tons
Of, which about 74;Q0e tons, went fo
EurbDei whist this year. 81 leastSalf
equal quantity - pending shipment
abroad. On the other hand, the ac-
tive demand, ct this time, for: refineo
sugar for domestic consumption sure
~ indicates that the trade had allow
ed their stocks to sink to an unsafely
low level quite In contrast with last
years policy when, II anything, they
purchased, in excess ct their needs
during the sharp advance In prices
which took place Immediately after.
declaration of the European war. Pres.
emit indications therefore. point to rel.
atively heavier melting between now
and end Of the year. which OF course
would necessitate larger purchases by
raws by refiners.
with reference to. the rapidly APP
preaching Cpban CROP, mail adyices re-
port that even should weather prove
favorable for commencement of grind
Ing early in December a. great many.
which have gone into elab-
6fate iinbroreh enta, will be delayed in
q ~ = "a atol7 ri7oIf1aries