Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-06-27
CUBAN CROP IS
DISAPPOINTMENT,
circular HINTS
OBSERVATION-DISCLOSURES Report
Tells of Sugar Trade I'M
port Situation

Interesting sugar trade news is Civ
en- in the June 9 report OF CZarnikow-
Rionda. which came by today's mail.
The report says:
Another week has passed during
which refinefs operations In raw sup
plies have been negligible as com
pared with their weekly melting re-
quirements. The business transacted
with both refiners and operators was
practically confined to parcels either
already arrived In port here or afloat
at prices ranging from 5.19c to sale
c. T. (f.2lc to $500 for Cubas, G.02c
to G.14c c. /. I. for Porto Ricos and
at 5.126c C. !. (. t63Sc) for Santo Do
mingos, the weeks total reported
sales being 1850 tons Cubas. 5000
tons Porto Ricos and 1900 tons Do
mingos, on which the spot quotation
declined .12c per 10. to 6.21c, basfs
sc degrees. At the close there are
buyers but no sellers at last prices
paid. That existing labor troubles are
interfering with the process OF refin-
ing may be realized from this weeks
reduced figures of only $1,000 tons
for combined MEETINGS at the three
Atlantis ports.
ut is, however, significant that the
weaker tendency OF sugars in dis
tresss did not have any visible effect
upon the attitude Of holders in Cuba,
who continue 10 offer only sparingly
at $500 c. {. (s.5zc) for shipment dur.
ing June July. The local situation de-
rived some support from the action Of
NJ p1Ner VCy
afloat, who decided to store rather
than accept the lower level of values
ruling at present An idea or the I'm
portance of this movement may be
had from a comparison of the figures
Of imlloiters' holdings at New York.
These have mounted from 25,246 tons
on 17tn May to 74,97S tons on 9TH
June, The respective increases for the
Intervening three weeks being $500
tons. 1880 tons and 1880 tons.
"Refiners' present stocks of about
l22,500 tons are less than half Of the
249,127 tons which they were credited
as carrying at corresponding date last
year, and with practically no pur-
chases or GHhas as yet made for ship
meht In July, the situation is rapidly
AC04ltA6 - ttOllt MhCIO 6CuCtONAS
ing must OF necessity set in, and this
will undoubtedly materialize just as
soon as the refined trade are COM
PEELED to provide for their heavy sum-
mer requirements.
Cuban Production.
Messrs. Guma- Mejer's crop figures
to 31st May, 1916, compared with
those 1f the two preceding campaigns
show that 340,S97 tons were made in
May, as compared with the 417,621
tons and 315,395 tons produced during
the corresponding month in 1915 and
1914, respectively.
The stocks in Cuba are also be-
ginning to reflect the real strength of
the situation statistically, for not
withstanding this years increase of
536,9S7 tons in production to 31st
May, stocks on that Gate were Only
130.0S2 tons greater than those Of
last year, while present stocks in the
United States and Cuba combined are
1879 tons below the total of 1915.
) In view Of the large quantity of sugar
either in conrse of loading, or pending
shipment; against outstanding con-
tracts with foreign countries, it is not
at all improbable that by the end of
current month stocks in the island
viii have already fallen below last
wears figures at Both June"