Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-09-20
REFINERS KEEP.
UP AN ATTITUDE
OF OFFISHNESS
Czarnikow-Rionda Market Let.
ter Says Tactics of Beet
Men UnSettIeS Market

Sugar market conditions in New
York FOR the week ending September
are summed up as follows in the
market letter OF the Czarnikow-Rion
da Company. ll2 Wall Street:
At the beginning Of the week the
market ruled quiet but firm, with sell
ers anticipating an early realization
Of their hopes for higher prices and
an improved demand for raws. On
30th alt refineIs bought 5000 bags
September shipment Cubas at 3 l1-l6c
c. I. C4.70c) and 1880 bags Cubas
anoat and prompt shipment, at 3 3-4c
e. T., advancing the spot price to 4.77c
duty paid, on the latter sale. After
this slight squirt the market lapsed
into dulness and impatient holders be-
gan 10 press sugar TO the detriment
Of values, finally selling about $4,000
hays Porto Ricos, in port, at 4.5Sc.
Refiners generally have maintained
an attitude OF offlshness. being infiu.
enced by the unseasonabiy poor de-
mand for refined owing to the nneasi,
ness caused by the beet interests In
their attempt to market their product
quickly In nearby territory. Prices
are being quoted much below those
of the eastern refiners In order to aid
an early distribution, but this seems
unlikely OF attainment as the trade are
fearful OF still lower prices and are
resorting to strictly hand.to-mouth
buying. This seems likely to continue
until the point Is reached where con-
fidence in the article will be reestab-
lished. .. f..
Reports from Java regarding the
crop are not OF a satisfactory nature
and o reduction In the estimate o.
/, $4,000 tons is predicted. SHOULD
this prove to be correct, II Is well
within the range Of possibilities that
Cuba will be called upon to help make
up the estimated shortage of 80.
100, 900 tons 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
will doubtless be presented for Cuba
to deyelop new markets, but sugar
and packing must be Of the kind re
quired by buyers.
France continues In this market as
q 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
refined and small quantity Of raws
from store here, still IL seemed to be
OF character which conveys the inl-sl
preston that sugar Is urgently need
ed. Refined exports during the cur
rent year to date were 226.906 tons
against 39.92S tons last year, an In
crease of 1SG.97S tons.
Trading in sugar futures on, the New.
York Coffee Exchange has been rather
limited, at gradually declining prices
Today's closing bid prices of Sentem
her 3.54c, October 3.49c. Noyemhe
I. 32c, December 316c, January 9.07c
February 3.07c. March S.G7e. Anri'
3. 0Sc, May 3.10c, June allie, July 3.12t
show net declines fer the week OF .1tlc
in September, .06e in October, lie In
November. 07c in December, .03c In
IanuarysFebruary, .0se in March. .07c
In April-May and csc In June-July.
The receipts for the week at the
three Atlantic ports were 35,54S tons
with 61,340, tons last year
and 56,675 tons in 1918. 49,.