The Hawaiian gazette., 1915-12-31
TRANSITION PRICES
OBSERVATION-DISCLOSURES
First New Sugars Received At
New York From West
Indies

One hundred and fifty thousand
bags Cuban and 5000 Surinnms were
sOid,at New York during the week end
ing Decemb"r 10, largely for delivery
December ~ to January l5 With only
$4,000 tons arloat total stocks again
showed heav, decrease. Cuban Cen
trails grinding ~, against 10 last week,
! 20 last year and - in 1918
Stocks in the nted States and Cuba
together of l.N4OS tons, against 1885,
653 tons last week and 24O,452 tons
last year, decrease of l0O,954 tons
from last year
Quotations Much Mixed
Willett & Gray state, in part, that
the increase in the number of eentraIs
grinding had a tendency to ease the
market, and ON increased offerings,
prices declined to the basis of 4.Sg for
| December and $50 for January. Mon
day nearby sugars sold at 40 in com
binatiOn with january at 4.39. At these
prices the market showed q steadier
tendency, and with operators paying for
irst-half January, holders were not so
inclined to press offerings, and the mar
ket, as we go to press, generally has
a steadier tone, with quotations about
! as follows: December 3.4c, early
January 3 l,2c, all January ; 3-8c-
quotations all cost and freight.
One Broker Caught Short
{ Towards the close Of the week an Cd
orator, who had sold sugars for No
vember delivery but was not able to
deliver same within contract time, was
compelled to go out in the market and
obtain the sugar at the best possible
price to. cover his contract. This caused
some irregularity in nearby quotations,
and sugars from store to the amount
of $500 bags, being the balance of the
importers stock, which at one time
reached as high as l39,O33 tons, were
sold at 4.S9, and nearby lot, which
it was necessary to obtain for the same
purpose, was taken at Al.
AT the higher range of values asked,
refiners are not disposed to enter the
market, and, the strength is likely to
he lost when operators cease buying
and n normal condition results.
'Refneries Close for Repairs
Several of our refners announce the
intention of closing down for a short
period during the next week or So
and this, of course, will necessarily
restrict the demand for nearby sugars
and for this reason we do not think it
will be long before all prices for near
by sugars will show an adjustment
closer to the basis of January values
While December sugars are now be
ing offered at New York they are not
yet obtainable in sufficient volume to
show the real situation, and as the
prices obtained for this shipment show
wide variations, subject to necessities
of BUYERS a. they arise, we are more
inclined to think that the first half
January pos ton, for which 4.5l5 is
asked, is better indication of the
actual market than the December pc,
siti0n.
Cubas Contracted for Export
We have previously reported that
the sales of new crop Cuhas to the
United Kingdom for January February.
March shipment amounted to 305,00C
tons. While exact figures are not OBJ
tainable regarding French purchases
we estimate that from 45-50,000 tons
have been taken for that country.
The sales of new crop sugars to OuI
, refners total 100000 tons, chiefly tc
the American, and with the exception
of about one cargo of March and 4
moderate quantity of December, the
purchases for this country are all Jan
uarv and February. The highest
prize paid for January March shipment
| was 4.64 for JamL ,ry.
New Crop Arrivals
New crop Porto Ricos arrived in
the port of New York on the thir
teenth WHICH is considered a very early
arr val for new crop sugars.
In congress some bills have already
| been introduced to continue in force
the present sugar duty of about one
cent per pound on Cuba sugar.
The first new crop receipts mad,
their appearance for the week ending
| December IL, and amounted to $685.
tons This is a goOl showing for the
| first week Ks receipts, as it compares
with 300 tons last year. Two year,
ago the receipts were 10000 tons, but
! they were the second week 3 receipt,
for that campaign. No new crop sugar,
were exported, although exports ou'
Of old crop amounted to n, 2S3 tons
all to the United States Atlantic ports
Sig New Centrals
Stock in the island of new crOI
sugars, December IL, is 6734 tons an,
of old crop sugars $500 tons, togethe
I3,434 tons. Twenty eight Central'
are grinding December -, agains
twenty last year and fftyfour in 1913
The total number of Centrals tina
worked last year was l16, but thir
year 1879 are expected to grind, although
we will have more definite information
later as to the exact number, The pew
mills, however, are all large ones anC
will make good sized crops.
Revised Estimates
'Messrs. Guma Meier, the Havana ex
pPrts, cabled us late on December |
their estimate of the new l9l5-l6 croI
az 3,lS3,62S tons. On December Mr.
| Himely, the Federal Sugar Refining
Company s. Representatives, gave out hi
estimate of 3.l75,0OO tons. We are still
adhering to our original estimate, an
nounced on October 81, as 100000