Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-06-30
CUBA OUTPUT in
MAY Is SMALLER
Than in 1915
Market Review States Domes.
tic Conditions Have Been
Somewhat Disappointing

In the weekly market review issued
by Neyers & Callaghan, SO Wall street,
New York, June Is, some interesting
figures on Cuba sugar production are
given. Relative to market conditions
the review says:
The appearance in the market dur
ing the week of fair volume of or
ders for refined for. export further
stimulated the better feeling In the
market for raws, which had already
become apparent at the close of last
week following the liberal purchases
of raws by England FOB. Cuba ear
lier in the month, and when refiners
sought to cover their refined commit
ments by the purchase Of raws, hold
ers found it possible to force an adj
vance IN price, Ne last sales report,
ed showing 3-16c Improvement in the
spot quotation for Cubas and 06c high
er values on nearby Porto Ricos, as
compared with prices paid at the close
of last week. Following sales early.
in the week Of about 10000 bags Porto
Ricos in port and afloat to refiners
and operators at 6.02c basis SO deg.
elf and about $4,000 bags Cubas in
like positions to refiners at 5kc basis
96 deg. eff, the market became
somewhat firmer and although some
further holders Of nearby Porto Ricos
subsequently accepted 6.02c from re-
timers for a few small parcels, still the
majority of holders held firm for 6.0Sc
basis SO deg. elf. for in port and
afloat offerings. Cuben holders insist.
ed on 5ssc basis SO deg. c.&f. for afloat
and prompt shipment parcels and 51sc
basis So deg. c.&f. for offerings for
July shipment These asking prices
were not obtainable until the export
inquiry for refined developed into act
ual business, when with more or less
limited buying srefiners accepted
about 50,00O-60,000 bags Of Porto Ri.
cos in port and afloat for shipment
to outports at 6.0Sc-oasis So deg. c.if.,
about $4,000 bags Cubas in port, affoat
and for second half June shipment at
5Ac basis SO deg. c.&f. and about 40.
000-50-000 bags Cubas for July ship
ment at 51ac basis 96 deg. eff, APP
parently clearing the market of all
offerings at these prices. At the close
there Is rather more disposition to
sell in evidence and the tone is a
shade easier with some small parcels
OF Cubas available at 53sc for prompt
and 7-16c basis SO deg. c.&f. for
July shipment
The weekly cable on Tuesday from
Cuba reported receipts of 33,411 tons
and Is centrals grinding, as compared
to $4,000 tons receipts and 36 centrals
at work at the corresponding date last
year Messrs. Guma and Meier report
the production for the entire island
for the month of May at 34O,879 tons.
as against 1921 tons last year and
$4,000 tons in 1914 The visible pro-
duction to June Is 2,733,957 tons. To-
day % centrals are in operation and
heavy rains are general.
The domestic movement of refined
sti1l continues disappointing notwith.
standing the advancing tendency of
raws, the country being disposed to
hold of placing contracts, though
most distributors and manufacturers
are believed to have stocks only SUI.
ficient to carry them for about three
to four more weeks The unseason-
able weather may account for the
delay in their buying. The export
demand revived during the week. the
business placed being estimated at
from 10000 to $4,000 tons for Europe
at prices ranging from 6z c net cash,
in bond, accepted by secondhand sell
lers, who probably furnished some 10,-.
900 tons of the orders, to soc and
6.40c net cash, FOB. paid to refiners.
All refiners still quote 7.65c less q
per cent for graduated, except Ar
buckle Bros. who name 7.30c less 2
per cent for prompt shipment. The
Federal s. r. Co. stiIl quote Z. 75c less
per cent for local orders. but accept
business at 7.65c less per cent for
shipment from consignment stocks.
Fire deatrovafI tho F5taoo, rfcsr,tta1