Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-11-24

CONDITION OF
SUGAR STRONG
czarnikoW-Rionda Co. Expects
Fine Prices for Planters for
Next Seasons Crop

r- . -
Values of the new crop sugars will
be strongly influenced by the strong
statistical condition of sugar, in the
opinion of the Czarnikow-RiondaC Com
pany of liz Wall street, New York.
according to their market letter is
sued on November 5, which follows:
The firnness which developed al
last weeks close has continued
throughout the period under review.
The week opened with a small sale
of prompt Cubas at 3.375c CT.
(439c), closely followed by further
transaction in the same position at an
advance to 344c CT. (4.45c). After
the previous price OF 3.375c CT. had
again been accepted on Sd inst. for a
prompt Cuban cargo, the appearance
of an active demand for refined sugar
and a reluctance on the part Of sell
lers to dispose of their holdings ex-
cept at an advance, brought refiners
up to 3.44c ef., which they paid yes
terday for about $4,000 bags of prompt
and stored Cubas. At the close 3.50c
CT (4.51c) Ahas been reached for No
vember shipment, and transaction
today for immediate clearance, at
3.56c CT, has raised our spot quota
ton .12c per ID. to 4.57c, basis So.
The total reported business of the
week is estimated at about 1900 tons.
Cubas, 700 tons Porto Ricos and 5000
tons Philippines from store taE last
transaction having been contaminated
but not included with last weeks bus
mess.
''This recent sharp advance In val
ues is directly due to conditions which
have prevailed cor some time past,
and which became inbfe and more ac-
centuated as the season progressed,
namely, theFefy small. stocks of raws
at Atlantic ports owned by refiners,
the very limited stocks of refined car
ried by the trade In general, and the
unusually heavy shipments of both
refined and raw sugar from here and
Cuba to Europe at this time Of year.
Statistics now show that the combin-
ed stocks in United States and Cuba
are actually 20,167 tons less than at
this date a year ago, and this differ
ence will, continue to widen during the
remainder of the year, owing to the
heavier MEETINGS bound to be record
ed during that period. The probable
ity, therefore, is that total stocks at
the Atlantic ports On January next
will be considerabl bly, below this years
Figures Of 1868 tons on same date.
5 Such q, strong statistical position
win naturally have much bearing np-i
on the values of 'newscrop sugars, par
ticularly upon the production of the
earlier months, for with estimated
sales of January-March shipment
Cubas already in excess of 100000
tons, and the possibility Of larger
quantities being sold, especially to
France, aside from1ethe exports Of
refined sugar, circumstances certainly
augur well for full prices to the plant
er, notwithst ding sthe fact that we
are facing a reeordbreaking crop In
the island during the coming cam
paign.
Spectators are already displaying
some interest in January Cubas, hav-
ing today purchased $4,000 bags for
that shipment at 3.06c CT. (4.07c), at
which price there are, further buyers
but no sellers. 1t Is also interesting
To observe the recent attention paid
to New York stored sugars by both
Philadelphia and Canadian refiners,
10000 bags of Cubas in that position
having been taken by the latter for
shipment to Canada, about the cur
rent quotations having been paid for
those supplies"