Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-09-07
inquiry
CAUSED FIRMER
TONE ON MARKET
Movers & CaIlaghan Sugar
Market Review Takes Up
Prices Prior to AUG. 27

Throughout the past week the
market continued comparatively mac.
tive, with business from day to day
confined to rather small quantities
principally for prompt shipment" says
the August q issue of the Sugar Mar.
ket Review of 'Nevers &>Callaghan of
50 Wall Street. Holders in Cuba
showed decided .firmness and put for
ward only small offerings, but at the
poor demand for refined, were rather
indifferent buyers. The market gen
orally remained steady at 3-11i16c ba-
sis SO deg. C. & (. t4.70c), but on one
lot in port sellers found it necessary
to accept 3 5-Sc basis SO deg. c. & f.
ti.64c) and enc small parcel of Porto
Ricos in the same position were sold
at 4.5Sc basis SO deg. c. i. f.
only small lots came out at under
3 3-4c basis 90 deg. c. & f. (4.77c) and
these were all taken up, and the mar
ket closes very Steady in tone with
buyers for Gubas in any position a:
3-llI1Ge and limited quantities for Sep
temher shipment on offer at 8 SAC ba.
sis SO deg. c. & +. Refner's stocks of
raw sugar here are about 100000 tons
less than year ago and they have an
unusual small amount bought to come
forward. With the country bare Of
stocks of refined it would seem that the
market Is in rather vulnerable posi-
ton and should any buying movement
OF importance set in, higher prices
would undoubtedly result. Il is recog.
uiZed. however. that stocks Of refined
held by refiners are undoubtedly much
larger than at this time last year, and
the course of the market hinges upon
the appearance of a good demand for
refined either from at home or from
abroad
The weekly cable on Tuesday from
Cuba reported receipts of 800 tons
and five Centrals grinding, as com.
pared to $4,000 tons receipts and three
Centrals at work at the corresponding
date last year. To-day, FIVE Centrals
are still in operation and rain is want.
ed in some sections of the island.
The domestic, demand for refined
continued quite disappointment and
on the oath inst. several cuts in prices
were made. The American S. R. Co.
National S. R. Co., and Warner S. f
Co. reduced prices to 5.f0c less . per
cent, and the Federal S. r. Co.. anG
Arbuckle Bros. reduced prices to $500
less 2 per cent. The response from
the trade was extremely Door. as the
confidence OF buyers appeared to be
shaken by the numerous recent
changes in prices and very little ne"
business was booked. The Withdrawals
against cid contracts continued small
n volume. Some Increased inquiry
for expert to Europe appeared ami
amounting to G00O 7Q00
tons were closed within the past day
Or two. but part of this business was
n exchange of raw for refined sugars
At an agreed upon differential.
Further orders from France arc
Under negotiations and it is generally
believed that England will soon an
Dear again as b"yer en- a large scale. !
The increased export INQUIRY aud the
frmer tendency of raws caused the
Federal s. r. Co. to put their price ;
back to 5.60c less per cent on the .
18th inst. Old crop Western Reefs ,
nave been offering in Eastern markets
IL o.5Vc less per cent. while Michi- :
gan Beets have been offering at a.40c !.
css per cent. The quantity of these
sugars actually available at this time !
S comparatively small and it will .
probably be October before the new !.
'rOp is freely available. Meanwhile
he trade is very low on stocks of re-
med and September should prove to +.
10 a month If worry uoOd distribution ,
The trading in futures reached a to- !,
al Of 10000 tons for the weeG. Prices /
,Ortinued to show wide fluctuations, ,
September selling at 3.51c and 3.70c ,
he low and high point respectively /
losing quotations today are: Sentem,
Ter G.6&C q 2.C"c. October 257c q
Use. November ste q 342C, DE-.
Cmbpr . sc q $500. anl January
lad February 311c g. %l"c.