Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-11-02
REFINERS HAVE
TO MEET DEMAND
SUGAR HOLDERS
Small Available Stocks Render
Market Quickly Exhausted;
New Orders Are Higher
Especial Correspondence from Nevers
G. Callaghan, % Wall street,

Especial Correspondence from Viewers
e. Callaghan, 20 Wall Street,
NEW YORK, ~, Y; Oct 20.-The
advancing tendency Of last week has
been continued and on moderate trans
actions made from day TO day at grad
ually rising prices the spot quotation
has advanced 3-Se to 6.52c. which price
was paid at The close Of the week for
cubas tor prompt and first half Of
November shipments AT the open
ing or the week holders were offer
ing moderately and were generally
asking lac basis sc degree C. & {.
for Cubas in port and for prompt.
October and first half November ship
ments. A moderate revival in the do
mestic demand for refined at 7.15cI
less per cent necessitated refiners
meeting sellers views and although
they accepted about $4,000 bags Of
cubas In port, prompt and October
shipments at 5 Lac basis 20 Iegrees
G. & T.. which cleared TIE market OF
Cubas In these positions Vat this level,
yet offerings OF Cubas for first half
November shipment were neglected,
until IL became evident that scarcity
Of nearby tonnage made IL impossible
TO offer further parcels of Cubas for
October shipment when refiners
promptly cleared the market of offer
ings for first half November at this
level by accepting about $4,000 bags
81 lac basis SO degrees c. & I. A
continued fair demand for refined at
7.25c less per cent for domestic uses
and 6.l0c to e.2ec, net cash. {. Q. b. for
EXPORT. and the steadily diminishing
stocks Of raws here and in Cuba in
fpired holders with renewed conf
dence, and when refiners advanced
their ideas TO 3-Sc basis 90 degrees |
9. q T., Il was discovered that no Gu
bas were available at this price in an
earlier position than first half Noyem-
Der shipment, and the quantity even
IN this position at 5 Csc basis sc de-
lrees c. & I. appeareu 20 be limited
10 10000 bags which were bought by |
local refiner. Holders advanced
their ideas to lie basis SO degrees
c. q I. for Cubas in nearby positions |
which price fefiners found it neces-
e1ry TO pay In order to obtain sup
piles TO cover the continued demand
that they were experiencing in refined.
resulting in sales OF about 100000
b11s Cubas FOR October to first half
November shipments to fefiners at |
4 sc basis Sc degrees {. & (. made at /
(It close OF tie week. and clearing the
market Of all offerings ofgCubas at
this leve aslsh
on accouat OF the limited quantities
81 Cnbaa offered for sale during the !,
week, refIners, in order to secure freer
supplies. bought largely Of full duty |
paying she61t. sales of which to local
reIiners aggregated fully 1000 tons, I
a. 4 7-Sc, SC. slice and later l-Sc I
basis IS degrees c. l. T.. and included |
Deneraras, st. Crooks, Jamaicas,
Costa Ricas, Peruvians and Guatama-
las. all IN various positions.
A limited business was done in new !
cfop Cnbas during the week, several
small parcels having been taken by |
local refiners at 3-Sc, basis SO de-
1rees c. q &, for January and Febru-
nrf shipments and later at 47-l6c c.
& I. fer small parcels in like positions.
EARLY in the week renewed buying |
of refined by the domestic trade at Y
I.I5c less 2 per cent caused such re- \
.|.EI| VIII -nCiCf QuottnS 1ndt PAASC
@ advance TO 725c less per cent.
which price the Federal S. R. Co. were
already quoting This advance check
Cd the business temporarily but later
n the week, on evidence OF revival
81 buying at 7.25c less per cent.
the Federal S. r.. Co. promptly ad- i
ranced to 1850 less 2 per cent, and
|he refiners. with the exception OF
the Warner s. r.. Co.. who continued
Withdrawn from the market, also adj
ranced to this basis after accepting
fair volume OF business at 7.25c less
7 per cent. At the close all refiners
have again advanced prices to 7.50c
less per cent. with Warner still
withdrawn. A moderate business was
done il refined for export at prices
ranging from 6.1Oc to soc net cash,
{. o. b.. the orders being more or less
numerous but limited in quantity.
Present quotations for refined for ex-
mort are 6.25c to 6.Soc net cash, f.
8. b.
The trading in options during the
week. q total OF $4,000 tons Clos
ire quotations today are: October
6.Ilc and 5.50c, November 544c and
6 .1Sc. December 5.03c and 5.04c, Jan
nary 4.59c.. and 4.60c. February 1880
and 4.20c and March 4.27e and 429c.