Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-03-28
CUBAN CROP FOR
f9l7LIKELY TO
turn OUT SHORT
Only Exceptionally Favorable
Summer Can Save Situation;
Drought Continues

Not only is the continued Cuban
drought damaging cane fol- this years
cutting. but il is having q decidedly
detrimental effect on the cane de-
signed for next year, and only very
fayora Bile summer weather can save
the yield from falling short of eX
pectatlons in 1917. This is according
to the March 10 weekly market lette~
of the CZarIikowRiopda Company o!
I12 Wall street, New York, which fol.
lows:
AS indicated by the list of sales
the market has continued decidedly
active at steadily advancing prices.
After the absorption by refiners and
operators of the few parcels in near
by positions remaining available at
4.25c c. +. (5.21c), reGlners were en-
abled to secure only a very limited
quantity at O6c per pound higher and
were consequently obliged to raise
their limits to 4375c c.. f. (5.39c) be-
fore attracting offerings OF any ap-
probable quantity of sugar. AT this
level business aggregating about So
600 tons, April and May shipment
inst, further small lots being subse-
quently obtained at same price. The
reported sales of the week on which
the spot quotation advanced .12c per
pound to $3.50, basis So degrees
reached the comparatively large total
of $1,000 tons Cubas and 5000 tons
Porto Ricos. For the latter descrip-
tior 5.14c to 5.27c landed was oh.
tanned from local buyers, while $3.50
was paid i'm one case for outport lie.
livery. Sales of full duty sugars to
Canadian refiners have also been re.
ported during the week at 4.1S75c to
4.25c c. / f. New York.
Although Assoc c. f. (5.52c) has al
ready been paid by operators for
Cubas Of late April shipment, holders
continue very firm in their views and
have offered most sparingly, even at
this price, and the close finds buyers
but no further sellers thereat.
Have Hands Full.
This weeks advance may also be-
attributed to the continued heavy de
mand for domestic requirements o:
refined sugars, coupled with rumors
of. large sales of United States granu
lated for shipment to United King
dom. While the quantity of the lat.
ter has in some quarters been spoken
of as 100000 tons, confirmation has
been forthcoming of only half that
quantity being sold by our principal
refiner However, this foreign de-
mand has certainly been greater than
for some weeks past, and the only
hindrance to a 'brisker business for
shipment abroad is the unwillingness
OF refiners to book further contracts
at present, when capacity of their
plants will be taxed to the utmost for
at least two months to come in fill.
ing the orders already in hand.
Striking evidence of the extraor.
binary strain in this direction is
found in the recent announcement by
the American Sugar Refining Com.
pany of its intention to reopen, in the
near future, its reserve Franklin re.
finery at Philadelphia. The, signi1i-
canoe of this step lies in the fact that
that refinery has been idle since 1897.
when, owing to an unusually good
demand arising from a change in the
tariff, it was last put into temporary
operation.
Cuban Production.
"Messrs. Guma-Aejer's crop figures
to end February, 1916, compared with
those Of the two preceding campaigns,
are as follows: ...- T..