Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-09-20
REF|NERS KEEP
UP AN ATTITUDE
OF OFFISHNESS
czarnikoW-Rionda Market Let
ter Says Tactics OF Beet
Men Unsettles Market

Sugar market conditions in New
York for the week ending September
3 are summed up as follows in the
market letter Of the Czarnikow-Rion
da Company, liz Wall Street:
At the beginning OF the week the
market ruled quiet but firm. with sell.
ers anticipating an early realization
OF their hopes G3r higher prices and
an imDroVed demand for raws. On
Goth uit. refiners bought 5000 bags
September shipment Cubss at 11-16u
c. (. t4.70c) and $500 bags cnbas
afioat and prompt shipment, at Bic
e. r.. advancing the spot price to 4.77c
duty paid. on the latter sale. After
this slight squirt the market iapset
into dalness and impatient holders be
gan to press sugar 70 the detr.ment
CT values, finally selling about $4,000
bags Porto Ricos, in port, at 4.5Sc.
Refiners generally have maintained
an attitude OF offishness. being infu-
enced by the nnseasonably poor de-
mand for refined owing to the uneasi
ness caused by the beet interests II
their attempt TO market their product
quickly in nearby territory. Prices
are being quoted much below those
of the eastern refiners In order 70 aid
an early distribution, but this seems
unlikely or attainment as the trade are
fearful or still lower prices and are
resorting TO strictly handto mouth
buying This seems likely 10 continue
until the poinf is reached where con-
.fidenee in the article will be reestab-
.lished. 8
Reports from Java regarding the
crop are not of a satisfactory nature
and A reduction IN the estimate OF
j, $50 900 tons Is predicted. Shonls
this prove 10 be correct, II IS well
within the ranye Of possibilities that
Cuba viii be called upon to help make
#up the estimated shortage OF so.
100 900 tens In the Australian and Fiji
crops. which is expected to be in evil
.dence during February March next.
Other producing countries, like Ar,
gentine. also report probable short
ages. and an admirable opportunity
win doubtless be presented for Cuba
To develop new markets, but sugar
and packing must be Of the kind re
Hdnired by buyers.
France continues in this market as
a BUYER Of raws and refined in spite
OF the adverse foreign exchange mark
ct. which may after all prove only q
small deterrent TO the buying Of food,
stuffs BY the belligerents While the
buying consisted Of only 1900 tons OF
rennei ana small Quantity of raws
from store here, still IT seemed to be
of a character which conveys the ifr,-
pression that sugar is urgently need.
ed. Refined exports during the cur
rent year to date we're 226, 906 tons
against 39.92S tons last year, an In
crease Of 1S6.S7S tons.
Trading in sugar futures on the Me-
York Cosfee Exchange has been rather
limited at gradually declining prices
Today,s closing bid prices OF Se.'teT
her I3.54c, October 3.49c, NogeElee
8 acc. December 3.1sc. January 3.07c
February S.8Tc. March S.07c. ART
8. csc. May 3.10c, June 3.11c, July SIP
show net declines for the week OF 1le
In September, .06c in October, lie IT.
November, .07c in December. .n3c In.
Ianuarv February. .06c in March .07c
in April-May and 0Sc in JnerlHly.
The receipts for the week at the
three Atlantic ports were S5,54S tons.
compared with 61.340 tons last year
and 56.675 tons in 1913.