Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-01-12
NO PRESSURE OF
CUBAN SUGAR; ALL
GOING TOEUROPE
Cleaning Up of. Porto Rican
Offerings Places Market in
Better Condition

Offerings Of new crop Cubans II
New York were unreasonablv liuh
during the last week of 1915. accoTdin.
TO NeVers & Callaghan Of 90 wal
Street, who point out in the sollowin.
market letter of December 81. that tn,
early sugars are going 10 fll Euro
pean contracts:
The past week which has beer
shortened by holidays" says the let
ter, has been productive Of but lin
tied business. Sales made early. il
the week Of some 40,G0050,G00 bag
Porto Ricos TO clear at various date
within the first half OF January Al
4:45c basis 90 deg. c. / f. removed
weak feature from the market, as sell
ers OF these sugars had been anxious
TO close them out With these press
ing parcels out of the way. the mark q
became flrmer in tone. EXCEPT fni
nearby sugars,
Several local refiners had closed
or were about TO close down for an
nual repairs and such refners as wer-
still working, appeared to be slff
ciently supplied with immediate
stocks to meet the light demand they
.
consequence, sales of about II .00l
bags of Cubas for December clearance
to refiner at 3 SIS basis 80 deg. c. &
T., established a decline of 1-4c under
previous prices raid for prompt shin,
ment Cubas, while a small cargo for
first half January clearance sold at
9-16c basis 90 deg. C. & T.. which
was f-l6c advance over last price paid
for Cuban sugars in this position.
Steamers Provided.
The offerings of Cubas during the
week were unseasonably light. prob
ably due to the urgent necessity fol
the early production Of the island tc
apply on sales already made for shin.
ment here, and to cover commitments
for European accounts on (. o. b. Cuba
purchases made earlier in the season
and for which the purchasing agents
provided steamers more promptly
than was anticipated Therefore
while refiners are more or less indif
ferent as buyers, yet sellers are not
pressing their offerings Of Cubas. pre-
ferTing to wait until they have sui
ficiently covered these contracts be
fore they feel warranted in making
further tenders. The week closes
with moderate offerings Of Cubas hello
at 5.Sc to 7-Sc basis e6 deg. c. e. r.
Tor December clearance and in port
3 5-Sc for first half January shipment
3 172c for all January shipment ans
3 CSC basis SO deg. c. & {. for lSebrr,
airy and March shipments, and with
a limited quantity of Porto Ricos
available at Aside for prompt clear
ance and 4.45c basis SO deg. C. /.
for last half January clearance.
The weekly cable on Tuesday from
Cuba reported receipts Of 27,704 tons
and " Centrals grinding. as compared
TO $4,000 tons receipts and 81 Centrals
at work at the corresponding date last
year, Today 80 Centrals are in oper.
alton and the weather is favorable
for the growing crop.
The demand for refined has beer
extremely Hight, the trade being fairly
we'll supplied at the moment and not
caring TO replsnish stocks until after
the holidays. The Federal S. r. Co.
who are now closed for annual re
pairs, reduced their price during the
week 70 5.S5c less per cent to dis
pose OF small balance or stock they
had on hand, and withdrew from the
market after having done so. All
other interests are quoting 5.95c less
per cent and getting very little bust
ness"