The Hawaiian gazette., 1916-04-28
CUBA SELLSF. 0. B.: :. :.
VISIBLE vAN|SHES
Hawaii and Porto Rico Now Main
Dependence Of Trade and
RefinerS
Freight Congestion still Prevents
Full" Supply Of Raws Reach
ing Market

Willett & Gray reports sales of $780,.
900 bags raw sugar at New York dur.
ing the week ending April 10. In part
they state that stocks in the United
States and Cuba together were 952,24
tons, against S7l,7O2 tons last week
and 797,004 tons last year, an increase
of 1890 tons from last year.
The week for the most part was one
of qnietness and without news Of sph-
feial importance or influence on the
| market.
The market has been affected by the
reduced estimate of the Cuba crop by
Messrs. Guma Meier to 2,9SO,O tons
and by the large demand for refined
for export at from &c to 6.l0c, net
cash, in bond. We estimate the bust
ness done recently at 10000 tons by
American refners, and from 5,l0,OOO
tons by Canadian refncrs England has
been a prominent buyer and other Ed
lrOrean countries have participated.
Cuba Is Selling (. o. b.
| In addition to the refined purchases
by European eOuAtrief, considerable
I. o. b. Cuba sales are reported, the
amount being estimated at 300-350, 900
bags at 4.55c to 4.60c f. o. b. Cuba.
| Affected by the recent sales for ex-
port by Canadian refners, which we
estimate as totaling 20-25,0OO tons, the
market for full-duty sugars have be IN
| active, with sales at from 4bc c. i. f.
| to 4.l5-l6c C. i. f. Sales for direct
/ shipment from San Domingo to Cana.
| dian seaports are reported at Slide
c. !. I.
Freight Situation Bad
| Freight difficulties still limit weekly
exports to the u. s. below the week y
I requirements, which are made up by
increased arrivals from Porto Rico and
Hawaii mainly, so that total stocks in
the U. 8. do not materially suffer in
decline from week to week.
| Present stocks Of Atlantic Ports are
ll3,S38 tons, against l04,9l5 tohs las
| week.
Refners are rapidly catching up in
their deliveries on contract to the U.
3. trade, aud to lesser extent for ex-
port, but it is nevertheless true that
| the requirements of refners for raw
| supplies in the near future means a
continued firm market, with an upward
trend to both raw and refined,
Cuban Conditions
/ The called figures for the week end
ing April s continue about as those
of the previous week-large receipts,
increasing stocks, Central finishing
gradually, hut the exports to the L. s.
| "a al "a
aud are the key TO the situation.
The figures are as follows: Receipts
for the week, 15O,339 tons; exports to
the U. 8. Atlantic Ports, 56,lS tons,
to New Orleans, 1905 tons, and to
Europe, 1922 tons, making a total of
| S9,564 tons; stocks are increased to
Sl3,52S tons; Centrals finished the
crop during the week, leaving 1S2 still
grinding.
The visible production to April is
| 1885,, $3.50 tons, against l,4l3,797 tons
last year and l,65l 1881 tons in 1914
The weather has continued favorable
for harvesting throughout the week, al.
though moderate rains would be most
welcome for growth of the new canes
and the ratoons for next season 5 har,
vest. We hear of four new Centrals
building, and which ought to be ready
to grind the 1867 crop.
Cuba Crop Estimates
| During the week Mr.. Himoly reduced
his estimate of the 1856 Cuba cIop
about $4,000 tons from his figure OF
December 8, 1915, of 3, l73,429 tors Ia
3,0S0,00 tons.
| Mess!s. Guma Mejer's estimate of
December IL, 1915, Of 3,ls3,G2s tons
was reduced by them in Their cable
to us of April - to 2,9S0,00J tons.
| Willet & Gray's estimate of 5000, 00C
tons for the l9l5,l6 crop remains IN,
changed from the day Of publication
October 81, 1915.
European Estimate Lower
Our revised figures of the 1915 lC
European beet crop show reductions OF
outturn in most cases. Germany is re
duced 100000 tons, to $4,000 tons
France, Belgium and Holland Also show
slight reductions, as do "other cOun
tries. " Russia, however, shows 4
small increase. The net decrease Of
the estimate of all Europe rs 900, /;
tons, making the latest indication
IS, l90,3S7 tons.
I Holland has enlarged half of he
crop for home consumption. Later pres
advices state that Holland has forbid
den expectation of foOdstufrs, although
], it is not known whether or not thi
means total embargo on all sugar ex
ports Conditions in Russia IN the su
gar business are very prosperous, il
spite of the difficulties attendant upol
sugar making due to war conditions
Cost of production in Russia is pu
at from 2.25c to 3.42c per h., not in
Gliding excise tax. Crude is selling q
3 S.72c to ste per h., (. o. b. ra.Ma
station.