Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-12-04
Ship SCARCITY
COUNTED ON TO
BOOST PRICES
Czarnikow- Rionda Sugar Let
ter Says Freight Situation
for Cuba May Be Serious


the new crop Of Cuban sugars makes
the position of sugar unusually strong
according to the Czarnikow-R ionds
follows:
After steadily advancing for about
I'VE weeks, since 5th October, during
which period prices climbed 1.3Sc per
pound from 2.625c TO &c cost and
freight for Cubas. and the spot from
3.64c to sO2c, baeis IS deg, slightly
easier feeling has recently set In, bust
ness In prompt sugars closed yester-
day at also c. 4, marking q recession OF
Csc n the spot quotation 10 Alto,
basis SO deg. Sugars In this position.
however, are only very sparingly Of
fered, owing 10 the limited quantity
thereof remaining unsold in Cuba
Although our local spot quotation
has not gone above 5,O2c this year.
that point was exceeded by 9 sale on
the 18th inst. OF 5000 bags Cubas for
transfer from New York TO PhiladeI-
phia, for which l.i25c In bond, equal
to 5.1lc dnty paid, was obtained.
Contributing causes to the present
soft spot IN the situation may readily
be ascribed to the influence of Offer
ings OF the domestic beet product at
from Csc 70 .65c below the quotations
Of eastern refners. and also to some
apparent pressure on the part Of Gu
ban sellers to daily reduce their ask
ing prices for January shipment. q
month which, as previously stated,
should not bring with II production
muchsin excess Of the supply fully re-
Quirtd to meet the shipments neces-
sary Tor United States refiners and to
Eur0le
Both rehners and operators have
naturally taken advantage of this con-
dition 20 secure moderate quantities
Of January sugars, starting at S.S75c
c. I. (4.39c) and subsequently getting
small lots Of hrst-half January at 3.25c
c. 4. (f.2bc), whilst February. after
selling dt 81s75c {. (. l1.20c). was
menccestfulIy offered a s.125c 9. {,
(t.1lc), md then sold IN very small
quantity u '5.O6z5c. i4.O7cl, there be-
ing now further buyers but no sellers
utUst figures. a.
Cuban ofeamer1 scnrce.
TOO much emphasize cannot be
placed upon the importance Of the an
ficIpstcd scarcity OF tonnage to lift
sugars nom Cuba during the APP.
preaching campaign. Notwithstanding
rates having been already quoted as
high Is SIC per 100 pounds. many
shippers have thus far found 1t impos-'
sible 70 secure steamers 10 load dur
Ing December and early January, and
with rumors that the British Govern
ment contemplates Communicating
steamers flying that flag and now en-
gagged In the trade between United
States and Cuba, surely all visible
signs point TO the freight situation be.
coming still more serious. This con.
tingency 10 partially reflected in com.
paratiyely limited offerings Of January
shipment sugars, sellers generally
feeling II unsafe to commit them
selves to specified deliveries unless
they have steamers In hand.
"The combined stocks In United
States and Cuba are now 1850 tons
below last years figures on CORE
spending date. 50 that In view of the
relatively heavy melting requirements
from now on, together with reports
from the island Of delayed deliveries
Of machinery deferring the start OF
grinding operations on many planta-
tons. the statistical position of sugar
seems likely to continue strong for
some time to come.
Cuban Production.
sMessrs. Guma- Meters cable OF
18th inst gave 2,592.667 tons as Gu
has total sugar production during the
recently finished 1914-15 campaign.
AS compared with her preceding out
put of 2,597,732 tons these figures
show q falling on of only 5065 tons
and represent q most creditable per-
torrance in surrounding handicaps
of late start and deficient yield oc-
casioned by prolonged season of abb
normally wet and warm weather at
tending the early stages of grinding
operations In the island.
Java.
Recently published figures of ex-
ports from Java TO 31st October are
highly interesting. showing as they
do shipments to Europe in October Of
only $4,000 tons. against 206,S65 tons
to that destination during the CORE
spending month last year, whilst total
shipments to Europe for the campaign
were $4,000 tons less than those dur
ing same period year ago. a def.
cheney which must to a great extent
be Offset by importations from Cuba.
Owing to prevailing high rates OF
freight Il is assumed that any Javas
now remaining unsold will find buyers
in their nearest markets, 1t being a
question Of economy for European
consuming centers to supply them
selves with sugars from Cuba, where
the supply is generous and the dis
lance very much shorter"
GEORGIA EXPORTS GROW.