Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-08-14
SUGAR MARKET
SLUGGISH; TONE
remains FIRM
Quantity Available at Present
Level is Deemed to Be
Small

/ Especial correspondence from Car,
nikow-Rionda Company, ll2 Wall
street, New York; 49,.
NEW YORK. July 2S.-With total
reported sales of emily 5000 tons Gu
has, Porto Ricos and non-preferential
sugars combined, Ii will be seen that
nothing has developed during the
past week to raise our market out OF
the sluggish condition exhibited for
a protracted period Although sellers
generally have remained firm in their
views Of $3.50 eff (6.40cl for sugars
for shipment, and .0625c per ID. less
for parcels already chartered for. ow-
ing to the apparent reluctance OF re-
finers to provide for future require
ments. some recent unSold arrivals,
failing to find buyers even at 5.25c
CT C627c), are going into warehouses
here while others are. disposed to ac'
cept less. The spot quotation is there
fore unchanged. but nominal, az the
advance of 06c to 6.33c, basis SO deg.
established on 21st inst, III.
The quantity of sugar available at
the present level being comparative
ly small, the acceptance of even fur
Their slight concessions in price by
few anxious holders fas already wit.
messed in several instances during the
last few monthsl is not likely to re-
suit in free offerings of sugars for
shipment in existing period of tempo
rary depression, if previous firm atti-
tude of holders under similar circum-
stances this year is taken as a cri-
terion.
The situation for the month of Aug
ust appears just now quite clear to
the interested observer. If the COM
bined MEETINGS at Atlantic ports and
New Orleans be taken at minimum
of $4,000 tons per week, the coming
five weeks should show aggregate
MEETINGS of say 100000 tons. Assum-
ing that refiners may obtain 100000
tons of the raw supplies necessary for
such demands from sources other
than Cuba, there still remain 100000
tons to be drawn from that island, the
great bulk of which latter quantity
must yet be purchased. And, figuring
even more rconseryatively, it must
readily be conceded that refiners
must need at least 100000 tons from
Cuba during August, or, to use anoth.
er standard of comparison, about L.
100000 bags. In addition to this out.
let for her product, Cuba is also likely
in the interim to make additional
sales on fob. terms to foreign
countries, as there arc inquiries now
at SC, foh.$ without finding sellers
thereat. - "a. IS u
With such generous prospective
demand ahead, prices should not
alone remain steady but should I'M
dergo- a material advance from pre-.
sent level. Advices recently received
from throughout the United States re.
port stocks of graduated to be abb
normally reduced for this time of
year. For this reason, even Il con.
samptiGn3 be. somewhat curtailed by
the higher prices now current as COM
pared with those of normal years, a
good demand can logically be expect
ED to set in before long. AZ.
During the week further sales of
Philippine sugars, afloat and for July
August shipment, were effected at
4.70c elf, basis IS deg, and at the
close abcpt 1900 tons of United
States refined have been sold on pri
Vate terms for shipment to Europe
Trading in sugar futures on the New
York Coffee Exchange shows dimin.
ished activity in tile weeks total
transactions OF 24.900 tons. Prices
have followed a steadily receding
course, today's closing bids of July
5.lQc, August 5.10c, September soc,
October 5.20c, November 5,10c, De
,cember sc, January 467c, February
4.3Sc, March 4.40c, April 4.43c, May
ACC and June lac, representing ag
gregate declines on the week of from
.O7c to .19c per lib. throughout the list
The. receipts for the week at the
three Atlantic ports were SIS, LOG tons,
compared with 57,41s tons last year
and 72,S47 tons in 1914. ..* -.