The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-02-12

gar Trade Journal in its review for
the week ending January 20 that su,
gar prices were about to advance. That
Journal based It's assumption on the
same conditions which The Advertiser
pointed out on Wednesday of last week,
as we'll as yesterday, that difficulty in
securing bottoms to move the Cuban
crop would cause shortage Of raw
sugar for the American refneries. This
naturally would cause the price to ad
vance. The weekly review Of the sugar
market for the week ending January
20 is from Willett & Gray's:
Market Opens Strong
At the close last week centrifugal
sugar, 90 degree test, was quoted at
3.95c per pound, duty paid.
On Friday the market opened strong
err and with decided change in eondi-
lions, as referred to later. On this day
discrimination as to Porto Rico free
duty sugars was noted, which were sold
at 3.9Sc per pound, against sales Of
Cubas at 4.Olc basis. There were free
buyers at the advance, but the offer
ings were limited.
On Monday sale of Peruvian full
duty sugar was made for special export
use at a special price equal to 4.20e
per pound, duty paid. The larger draw
lack attached to these sugars accounts
for the premium paid for these sugars.
On Tuesday Porto Rieos recovered
to the Cuban duty paid basis Of 4.0lc
per pound. On this day the steamer
Washingtonian, with 10000 tons of Ha'
waiian sugar, was reported lost of the
coast of Maryland. This loss was diff
fcult to replace just now, apd nc
doubt had something to do with the ad
vance made in the market on Wednes
day. .
On Wednesday both re6ners and spec
ulators entered the market In earnest
The earliest sale Of the day was Of
1900 tons, first half February shipment
at 3 Lice c. & (. (407c, duty paid)
A refner next took some 100000 bag
Cubas and Porto Ricos, all at the sam'
basis Of 3 Ice c. & f. and 4.07c, duty
paid. Later spectators paid 3 ] Sc C
4 (. (4.l4c) for February, and refnerl
were willing to pay the same for suga
in warehouse. We quote spots at All,
on sales of first half February clear
ance at basis of 3 3 32c c. & T. to re
fners.
Conditions as to freights are sucl
that some Cubas have been offered oil
the free on board basis, leaving tn
buyers to secure the freight.
Total sales during the week, includ
ing those for February shipmen,
amount to 100000 bags, Of which abou
100000 bags are for January and tn
balance for February. ~
Cuban production to date is. 1000
tons less than last year.
The position in Louisiana remains ur
changed from last week while await
ing arrivals of foreign sugar for use i
the Chalmette refinery in absence o
sellers Of the local crop at the fullu
New York basis of values.
New Anxiety Arises "
The anxiety regarding the delaye
and falling off production Of the Cub
crop, by reason of the unsettled weatl
er and lower sugar content, has give
place this week to another and quit
different anxiety.
The production Of sugar has increa
cd but the question of getting the 81
gar to market is difficult problem
solve. The United States requires, a
this time, a weekly supply of some 45
600 tons raw sugar, M least, to kee
the refneries going to meet the doman
for local consumption.
The total stocks in all hands in III
United States is ll0,60l tons, whic
, amount should be kept intact for
carving stock and the current demand
be met by the current weekly receipt
A weekly freight tonnage of SON
900 to 10000 tons is, therefore,
/. necessity of the situation, but sue
tonnage is largely lacking at the pre-
cnt time and for the immediate futur
and rates of freight for such tonnaG
AS can be had has increased nearly q
. per cent from the normal rates in 9TH
seasons, and even at such rates parti
, under contracts to ship sugars with
specified dates find it sometimes il
, practicable to complete their cOntrae
!, as specified, and buyers who bou2l
sugars, expected to be available f
: use at certain dates, are passir
, through period of anxiety as well
: the shippers of the sugars. 1t APP ca
. that the British Government has te'
gradually accommodating all the frcigh
crs that il has been possible to o
: tain to use for transport purpose
' which naturally has left scarcity
a tonnage on the market.
:. May Resort to Sailing Vessels
:. Another cause is the large expo
+ business doing with the United Stat
. to Europe and the rest of the worl
r 1t also appears that vessels arrivil
i with cargOes at diseharging ports
Europe, in the United Kingdom and
q France find no facilities awaiting the
for unloading their freight prompt
which subjects shippers to heavy rat
Of demurrage. Hence a large quaint
of freight steamers are held up on
@ murrage at various ports in Euro
n awaiting discharge.
IT A possible contingency may be tn
o in order to bring sugar 10 the init
It States resort must be had to saih
e vessels and targes, AS in the Olden da.
- but such vessel are not generally
9 ecAwOrthv as steamers. AVID hence hi
rates Of insurance must be paid. f.
thrrmore, such voyages made in
winter time are extra hazard ous.
# Twrntv.three to twenty Ave cents |
it loo pounds for freight rate by stea
81 rrs is now considered the minimu
D. apninst the normal rate of TO 9 eel