The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-02-12
LACK or VESSELS IS CAUSE OF
SHORTAGE IN SUGAR MARKET
CUBA SUFFERS WHILE TONNAGE PILES UP AND NO MEANS OF
HAULING IT TO MARKET CAN BE F0UND-RAPID RISE
IN PRICE FoREToLD TWO WEEKS AGO


10 be seen in higher prices asked for
the Cuban and Porto Rieos sugars.
just at this season, when ordinarily
under heavy production these sugars
are pushed for sale by planters to oh
cain money to repay advances, and the
lowest prices of the campaign are
made, the planters find themselves &c.
eumulating stocks without means Of
moving them out Of the island, and the
usual large buyers in the United States
at such times now find themselves lin,
tied to comparatively light offerings
and such at very high comparative
prices. -s.,
Our re6ners, however, are handling
the situation with discretion, and
knowing they cannot Just now secure
all the sugar they would like to have,
even II they bid prices up rapidly on
one another, are cOntenting themselves
by accepting such smaller parcels ms
are presented from day TO day by tho
few sellers who are the fortunate pos!
SCISSORS Of transportation facilities pro.
viously contracted for. ...- .
Refiners Are Worried ma p.
This course means, however, that
from necessity refners are facing in
ton, which may also have to be par.
tieipated in bv the consumers of sugar.
On the other hand the accumulation Of
unsaleable stocks by planters in Cuba
| by reason of lack of transportation TO
! market may prove'an unexpected hard
chip to them in warehousing the sugar
in the island, and financing it under
such conditions.
/ nnly h. Ntva vi OF m
buying held the market down to the
Sc c. & (. and 4.0lc, duty paid basis,
during the entire week until yesterday,
when an advance of Lice to 3 Lice e.
4 f. (4.O7c) was paid for the compara-
lively moderate quantity Of about l50,.
900 bags on offer, when. half million
bags could have been readily disposed
of at the same price. We think this a
conservative statement of the sugar
situation Just now and its future re.
quires the closest watching. ..@..
1 OF course If Great Britain releases
the tonnage she has tied up, which Of
course does not seem possible under the
circumstances, the situation will be inn
proved, but still so many other freight
transports of other nations are In con-
slant use that high rate freight eondi-
tons must continue and have their in
fuence on prices. .Etns31 ~
There is no scarcity Of cane sugar in
} the world in countries of production,
and if it can be moved to markets of
consumption as fast as required on the
hand -to-mouth basis, no extreme rise in
prices need be feared.
Philippines were more active this
week, some i7400 tons having been sold
1 - A.. ~ Ill. -
at 3.20c, basis SO degrees, and 1900
tons, in store, sold at 3.25c, basis Sc
degrees. ~, .,,sr ~ ;. ,54,s
l At the close the market is strong
with prices full-up on limited offer
, ings and the trend towards a further
advance During the day Canadian re.
fneries and spectators secured $4,000
bags early and late February shipments
at 3l-Sc g. & 4. New York, thus prae
: tically clearing the market. Of ofering'
4 at this basis. - p
3 transactions in raw sugar futures OF
the Coffee Exchange this week totalet
/. 1880 tons. Closing quotations: Feb
ID. ruary 3,l6-20c, june 3.36-3sc, July 3.4l
0 43c, September 3.46-47c. ..E..&
t No difficulty mas been had by thu
/. trade in securing all the refined suga
p asked for at the basis Of 4.95c less
! per cent for Fine Granulated, and tb
trade awaited themselves of the oppoI
e tunity to secure several weeks SUI
b plies, If not more, before the genera
a advance came in the selling price Il
5 the list price of 5.e5c less 2 per cen
!. which was enforced on Tuesday by al
e refners. Federal list advanced to 5.l5e
a While it is reasonable to believe tina
refners will melt comparatively full =
+ meet the withdrawal demand, il ]
,, hardly likely that they will be fire.
e sellers of refined at 5.O5c or over unles
0 they have sufficient raws to cover sue
r sales. .'.5#
- A moderately good demand is alread
n experienced by our refners at sos
|. less per cent. "#
= very considerable balance of tn
It domestic Beet refined crop remains nj
IT sold and can be had now Mt 4.S5c Pc
G pound less per cent, New York basi
IS in Chicago-Butfalo territory.