Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-06-20
SUGAR
Price Will Go
Still Higher
AAA - NAAAAMB
New York Advices Are to Effect
That Advances Are Likely
to Come in October

| ~ WIN SSkS0St
NEW YORK, June s--(willett &
Cray. = The week under re-
view has been slightly reactionary by
reason of the refiners generally with
fdrawing from the market because in
part at least Of the troubled labor con-
lditions In the harbor and at the re,
Ifineries. A number of these difficult
ties have been settled, but sufficient
still remain an Influence in checking
free business. As q result, sugars
ARRIVING and afloat have been without
la market as before, and have been
pressed on unwilling buyers at con-
cessions, the sales of such at the close
showing decline from slice per ID.
lie. & {. last week to 5 3-15e c. & +.
per ID. this week for Cuba Centrifu-
gals In port or afloat. This represents
really but small reaction when taken
In connection with the firrner market
lof the previous week "a. 49,.
| Sales are reported to refiners and
operators at 5 3-16c c. & Z. (6.21c),
giving the, market firmer tone.
Regarding present values from the
basis Of the statistical position OF
supplies and demand to October. little
apprehension need be felt OF any ma,
Eterial decline. and a recovery, to some
extent, of Host values will not be sur
prising before very long.
/ !. Receipts of the week and total
stocks increased, and MEETINGS fell off
slightly. for reasons given. The in.
crease in stocks is all fol. account OF
importers the refiners' stocks show
ling q slight decrease, $3.50 A B
/ Full-duty. sugars also declined, 4the
last sales being at SIC CIT
| Renewed Inquiry is noted on the
Lob, Cuba basis. and a fair line of
sugars has been sold, fully 10000 tons,
on private terms s.s 4ts,,-,s 49,
Receipts From Cuba. s..;.z,ss
Receipts for the week at 4S ,515, tons
continue in good size, notwithstanding
the shutting. down of 10 Centfals dur.
ing the week, leaving. SO grinding on
June 9Th. Exports continue of fairly
good size at S2,S63 tons total and
which were distributed; 46,4S3 tons to
the u. S. Atlantic ports, 1860 tons
to New Orleans and 1890 tons ia
Europe. Stocks are in consequence
reduced to 859,S41 tons. Corrected
visible production to May 31st is q
| 709, 200 tons, against 2,172,713 tons
last year and s2.244,223 tons In 1914
The production for the month of May,
l.lg16, was. 34e.s97 tons, while Al, 621
Ftons were produced in May last year.
Visible production ITO June 3rd is q.
| 733957 tons, and. compares with the
corresponding dates OF the two previ.
Gus years of ALL 13 tons and $780,.
223 tons respectively. Weather has
been unsettled, although rain is want.
ed IN the western portions Of the Isl.
and.
| French Demand Holds.
In France consumption for the year
ending March al 1916, shows a fall
ing off Of only 8.7.,per cent as com
pared with normal consumption, not
withstanding the war and attendant
high prices Beet sowings are 81 per
cent larger than last year, and weather
and cultural conditions are far su-
perior to last year. ..=
Argentina Is allowing raw or re-
fined sugar to be imported temporar-
lily free of duty until October 1, 1916,
but not to exceed 10000 tons.
In Japan and Formosa, the 1856
crop is expected to out-turn 3Sl, 549
tons, an increase of over $4,000 tons
from previous estimate.
Porto Rico's crop estimate is raised
about $4,000 tons to 100000 tons min.
imum. ~. b. s....- - u r.fs
Philippine Shipments Grow.
Shipments during May were even
larger than those during April, $1,000
tons being shipped to San Francisco,
1880 tons to England and 6,110 tons
to Asiatic countries. Total shipments
to the u. S, so far this year are $4,000
tons. against $4,000 tons last year;
To England there has been shipped
from January 1st to date 1889 tons,
against none last year, while total
shipments for this period are $4,000
tons, compared. with $1,000 tons.
All refiners' prices at New York. re.
main unchanged from last week, at
1850 less 2 per cent regular terms,
the Federal making exceptional price
of 7.75c less per cent on local orders
and 1850 for delivery from consign
ments.
McCahan and Pennsylvania com
panies of Philadelphia, however, on
Tuesday for local reasons named 1850
less per cent generally and 1906
for assortments with prompt shipping
directions. These prices are still OBJ
tainable as we go to press, but intima-
tions point to some readjustmeHt
shortly.
ArbuckIe has an accumulation or
Nos. 10, IL. IL and 13, soft sugars, in
barrels and bags, which they will dis.
pose of for prompt shipment at %
points below their list prices.
Export sugars have been in light
demand during the week, but business
could probably be done at 6.45c net