The Hawaiian gazette., 1915-12-10
NO GOOD REASON
FOR HIGH PRICES
WiIlett & Gray Thought Limit Had
Been Reached Two Weeks
Ago

Cuba together were 23T ,2l9 tons, against |
1851 tons last week and zoe. 21l tons
last year, decrease Of 5S,992 tons from
last year. 80. |
The previous week marked the eulmi. ]
nation, for the time being, of the up,
ward reaction in the sugar market, with |
the closing price for Cuba Centrifugals
OF ATE per 10. The quotation has re.
maiaed unchanged throughout the week,
although, the market has assumed n
somewhat firmeT aspect with q possible
renewal Of the scarcity Of Immediate
supplies before new crop Cubas become
available, and az consequence there
may be a temporary advance in prices
siufing the next few weeks.
Tonnage Situation Bad ell
This possibility Is increased by the
difficulties attending the tonnage situa-
tion, which Is increasing freight rates
from Cuba irregularly, and preventing
the free offerings of both prompt and
'futnre shipments on the cost and
freight basis.
There has been much speculation re-
garding the quantity Of new crop Cubas
for January. March shipment that has
been obtained by England, but as we
have cable from the Royal Commits.
sion advising us that they have pur.
chased 3O5 900 tons of Cuban sugars
for the aforementioned shipments,
this matter is now definitely decided.
Besides these purchases il Is esti-
limited that they have also secured some
.60-70000 tons raw sugars from other
sources, Peru, Mexico, West indies, etc,
As the refining capacity Of the United
Kingdom is still 10000 tons per month
maximum, II would look rs If they had
secured a sufficient quantity Of raws for
some time. The consumption of the
sUhited Kingdom, however, is 100000
tons month, so additional white SUI
CARS, either refined from the United,
States or white raws from Java,
Mauritius or other countries, must
still be, obtained to I'll out the con.
sumption. ga a.
Louisiana Crop Very Small
A prominent Louisiana planter wires
us On follows, giving hts estimate for
small crop and his reasons therefor:
'tLoekPort, La, November 90, 1915
Grinding season, l9l5-l6, shortest on
record in Louisiana. Several planta-
tions already finished grinding. Thir-
w per cent will be finished by Deeem.
Der 5th, so per cent by December 10th
aud 30 per cent by December Goth
Output will not be 100000 tons.
Cuban Stocks Reduced f.,
Exports during, the week were 49,
$50 tons total, of which l2,529 tons
were to Europe and the balance TO the
United States Atlantic, ports. Stocks
have been reduced to yy79,599 tons
against u 900 tons at same date last
year. None of the Centrals have rs yet
begun grinding, and the same was true
of last year at this time, although In
1913 one factory had started the cam
paign,.,a ar,.an4 s.,
Weather has been reported a. unset
tied or heavy rains in some sections.
The cane has, attained a fine growth,
but dry conditions are needed to ripeh
it. A few Centrals are expected to
Gtart up early in December, but grind.
until around the holidays. Production
in December is Not looked for to ex-
ceed that, of December last year, when
about $4,000 tons were produced. '.
Porto Rico ,'. F.. q. Us
Harvesting of the new crop has com
menced at, one of the large Centrals
during the week. Some new crop Port'
Rico sugars have been sold recently to
refners at full-up prices for early De.
cember shipment.
Hawaiian Sugar Contract
1t is anthoritativelyy announced that
representatives of Hawaiian sugar plan
tatiols have contracted with Mcssrs
B. H. Howell, Son & Go. and the Penn
sylvania Sugar Co. for each TO take
one-half at that portion Of the Hawa
ian sugar crop which may be shipped
from Hawaiian Island ports to Atlantic
Coast ports during period of two
years from October |, 1915. The guam
tity which usually comes to this coast
Is 100000 tons per anHum. Deliveries
here run from January to October.
The terms of settlement of these con
tracts are based on the average prices
prevailing in the New York market fdI
| a period of days prior TO the arriva
Of each particular lot =. a
Our special cal bic gives a reduction OF
| 10000 tons TO ], 275, 900 tons In the csti
mate Of the 1856 crop now ending.
Quotation has remained unchange,
| throughout the week Mt 6.00e less 2 PEI
cent by all refners. There are no spec
ial features to report, and naturally
business at the high level has beer
very light, and only hand.to-mouth, an,
will probably continue SO we'll into mex
month.
Shipments show no Improvement
American and Howell being two I,
three weeks behind, while other refiner
can ship promptly.
Sugars from second hands have beer
n evidence. and business has been don,
from $500 up to 5.90c. in limited way
J Moderate Export Business
Export sugar is quoted at 4.9Oc I,
4.95e, net cash, in bond, f. o. b. New
York, with only the daily moderat
business doing. Some refners are rath
er freer sellers of export than. former
ly, and these quotations could be shad
ed for a fair-sized lot q
Domestic beet lists are unchanged a
6.45c less 2 per cent Central, and 5.55
Eastern territory. New York City quo
tation remains at 5.75e. Some Mich
gan factories expect to be able to max
fairly prompt shipments by the middl