Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-12-08
FUTURE TREND OF
PRICES DEPENDS
ON CUBAN MILLS
Quotations Expected to lump
at Every Buying Movement
Until Grinding is On

J.. b 4 = Z e E Ff
That sugar prices will probably ad.
vance on every buying movement by
refiners, who may be forced into the
market by the small and rapidly de-
pleting stocks held by wholesalers
and merchants. is the view of Neyers
& Callaghan of SO Wall Street. as ex-
pressed in their Sugar Market RI
view of November &c. Prices will
continue stiff until the Cuban mills
get to grinding, says the review. which
follows:
Purchases by refners of about
AZ, 900 bags Cuhas for prompt ship
ment at 3-4e basis 90 deg. c. & f., at
the close of last week cleaned up all
offerings of nearby sugars at this
price. The quantity of old crop SUI
gars remaining unsold has been re-
duced to such small proportions that
further offerings of sugar for prompt
shipment became scarce, and after re-
finers had taken up some additional
parcels that appeared from time to
time at 3 SAC. basis SO deg. e. & f., for
prompt shipment and early December
clearance, holders of the remaining
limited offerings of sugars in these POI
sitions began asking 8 Use. to &c. ba-
sis SO deg. c. & f., for their holdings.
An outport refiner, however, succeed
ed in getting one small cargo of Gu
bas to clear the first week in Decem-
Der at 12-16c. basis sc deg. c. e f.,
at which price further buyers APP
peared for early shipment sugars with
out being able to secure any more
The uncertainty of the tonnage sit.
uation and the high freight rates be-
ing asked for future shipments OF SUI
gar from Cuba caused sellers of new
crop sugars for shipment during jan
uary, February and March. who were
offering freely last week, to withhold
their offerings However. local rein
ers were very Indifferent towards new
crop sugar and the limited quantity
OF Cubas rendered during the week
were mostly taken by spectators at
3 1-4c basis SO deg. c. e f. for Febru-
airy shipment An outport refiner paid
3 3-Sc. basis SO deg. C. & +. for one
parcel to clear the first half of Jan
uary. Further moderate offerings of
Cubas in these positions at like prices
failed to find buyers. Some Cubas for
December shipment at 7-Sc basis
SO deg. C. & f., and few Porto Ricos
in the same position at 1890 basis
SO deg. C. |. T., were unsuccessfally Of
fered during the week.
"The future trend of prices depends
largely upon how soon Cuba starts
grinding operations, together with the
tonnage that will be available for
handling the crop. At the present mo-
ment the distribution of domestic
beet sugars in the eastern territory
at concessions OF 25 to As roints iin-
der refiners' prices has relieved the
strain on our local refners who are
abnormally low in stocks. Any buy
Ing movement of refined. however
small, would undoubtedly force refin-
ers into the market for raws and the
limited quantity that will be avail |
able should insure a steady if not
higher market until relieved by new |
crop arrivals. Present indications |
point to some delay in the start of |
grinding, on account of machinery and |
parts being held up by congestion Of |
freight.
There has been no change during
the week In list prices Of refined, all /
refners quoting &c. less 2 per cent.
There has been little or no new buy /
ing, the trade being generally sup /
piled for at least two or three more
weeks and only placing orders for I'M
mediate shipment sugars to tide oyer
gaps caused by delay in shipments of /
sugars under contracts with some re-
finers who are still about two weeks
behind on their orders. A limited /
amount of business has been done in
graduated from second hands at
5.60c. to 5.9Cc. less 9 per cent, and
moderate Quantity of domestic beet
sugars has been placed in eastern ter
ritory at 5.55c. to 5.75c. |"