Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-08-09
SUGAR MARKET
DEVELOPS some
SUMMER LAXITY
Movers & callaghan's Review
of Conditions During Lat
ter Part of July
(From Movers & Callahan. 80 Wall
Street,

(From Neyers e Callahan. 80 Wall
Street,
NEW YORK, N Y, July 2S.-fhe
sugar market has experienced anoth-
err week of Inactivity, the total busi-
ness consisting of a few small sales
OF Porto Rieos. that arrived in port
unsold, to refiners at G.1le basis 20
deg. elf, and a limited Quantity OF
Cubas for prompt shipment which
was accepted by refiners at 5Ac basis
So deg. c.&f.. these sales showing
slight concession over previous pri-
ces paid. Reflecting the better feel
ing that prevailed at the close of last
week, the market opened firm with
holders offering sparingly and asking
53se for nearby Cubas and 5 7-l6e to
sue basis 96 deg. c.&f., for August
shipment. A Limited quantity OF Por-
to Rieos nearby and for shipment was
aeld at 6.27c basis 96 deg. elf. There
we're ready buyers at ) nc basis SO
deg. EFF for Cubas in any position
and 6.l4e basis SO deg. elf. was OBJ
tainable for Porto Ricos. this latter
price being accepted for two small
parcels that arrived in port unsold.
As the week progressed some disap.
pointment was felt by both sellers
and buyers, on account of the lack OF
Improvement in the demand for re-
fined, and when holders. after gradu-
ally making concessions, finally put
forward offerings of Cubas afloat at
SIC basis SO deg. c.&f., they found
that refiners were no longer willing
to pay this price for very nearby Gu
bas. Whereupon, offerings of Cubas
appeared at this level for prompt and
even for August shipment. and al
Though refiner quietly accepted a
moderate quantity Of shipment Cubas
mt Size basis SO deg. c&f., including
a cargo for New Orleans, further Of
ferings of cubas to the extent of about
rs, Q00-f00,00 900 bags in various posi-
tions at this basis could not be sold.
Holders OF some small parcels of Gu
has afloat exhibited uneasiness when
they found buyers holding off. and
some pressure to sell developed,
which resulted in the sale to q re-
finer of one small parcel Of Cuias
due to arrive over the week end at
SAC basis SO deg. c.&E
The weekly cable on Tuesday from
Cubs reported receipts of 1s. ESQ tons
:andsl0 Centrals grinding. as compared
to $4,000 tons receipts and 10 Gem
trails at work at the corresponding
date last year Today, nine centfals
are in operation and light rains are
falling in some parts of Cuba.
There has been no change In the
list prices OF refined sugar during
the week, all interests quoting 7f5c
less 2 per cent for graduated. New
business has been light and withdraw.
ais against contracts have somewhat
slackened The inactivity OF the mar
ket for refined sugar at this season OF
heaviest actual consumption Is the
subject of much comment, and while
various reasons have been advanced
to account for this condition the most
logical seems to be the curtailment of
consumption because Of high prices
Some secondhand selling at 7.55 to
7.60c less 2 per cent, refiners' terms,
was in evidence at the close OF the
week after raws had displayed an
easier tendency. The purchase by the
British Commission early in the week
of about 10000 tons of refined sugar
for August shipment did not material
ly affect market conditions