Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-06-12
FOREIGNBUYERS
AGAIN enter
SUGAR MARKET
Domestic Demand Slow When
Compared With Activity
= From Abroad

Renewed interest in the sugar mar
ket was shown by bJyeEs after the
middle Of last month, following mar
ket depression earlier. state Severs IL
Callaghan. 80 Wall street, New. York,
in their review under date OF May 2G.
In such review they say:
x After three weeks OF inactivity,
with buyers more or less Indifferent
and limited transactions reported at
slight concessions in quotations, the
week closes with a complete reversal
OF sentiment I'm evidence and dlspo-
sition toward an active market at
higher prices. The transactions re-
ported during the week and the prices
paid do not truly represent the erratic
fluctuations that developed from day
10 day as regards the sentiment OF
BUYERS and sellers. With NO improve
meut in the labor conditions in port,
unfayoraBle weather conditions affect
ing the local demand fcr refined sugar,
and no special inquiry from abroad
for either raWs or refined, refiners
continued indifferent at the beginning
OF the week TO offerings OF Cubas at
5 Lac for nearby parcels and 5 3-Sc,
bias is SO degrees c. & T., for June ship
ment, and neglected offerings of Porto
Ricos at 6.02c, basis SO degrees eli. T.,
in nearby positions. Finally, an out
port refiner accepted 10000 bags Porto
Ricos afioat at &c, basis SO degrees G..
If. Nav York, FOR reshipment from
here, and local refners purchased go
10000 bags OF these sugars In port and
afloat ut 6.02c, oasis SO degrees c, ]. Z,
less lighterage While this buying
cleared up all offerings OF Porto Rieos
in distressed positions at the moment,
further offerings immediately appeared
at 6.02c, not alone in nearby positions,
but also for shipment, without finding
buyers. The appearance In the mar.
ket of 6 moderate-sized order for re-
fined sugar from the, British commits
sion caused a audden shift in the tone,
and when speculative buyers appeared
they were only able TO secure 1850
bags Of afioat Cubas at 5 1-4c, basis SO
degrees c. & T., before sellers had adj.
yanced their asking prices to S-Sc for
afioat parcels and 57-16c, basis SO de-
Rrees c. & f., for June shipment Cubas,
which immediately checked further
business. A dull period again devel-
oped. causing some uneasiness among
holders, who again began offering at
concessions until moderate line Of
Cubas again appeared on the market
at Lac, basis SO degrees c. & T., for
prompt and even distant positions.
Again the revival Of export inquiry for
refined sugar had a stimulating mfia-
ence, and following sales Of 10000
$4,000 bags Of Cubas afioat and for
prompt and early June shipment to
operators at 5i-4e, an outpOrt refne1
paid Csc for $4,000 bags Cubas for
June shipment, and o local refner
bought $4,000 bags Cubas for second
half June shipment at SIC, basis sc
degrees c. 4 I. During this buying an
operator paid 602c, basis 9e degrees
e. /. T., for a small parcel Of Porto
Ricos in port, while cargo OF San Do.
mingos for early June clearance sold
at 5 Slice, basis SO degrees c. l. +, and
later another cargo in the same posi-,
ton at l-4c, basis SO degrees c. /. 4
Following these transactions, operat
ors paid CSC for Cnbas for June ship
ment and refiners paid 7-16c, basis
96 degrees c. & T., for July shipment
The week closes with the market
strong and tending upward.
THE weekly cable on Tuesday from
Cuba reported receipts Of 1886 tons
and SO Centrals grinding, as com
pared TO a3, 900 tons receipts and 12t
CentraIg griding at the corresponding
date last year. Today, 40 Centrals arr
III operation and heavy rains are re
ported IN the eastern end OF the island
THE domestic demand for refined
has been slow throughout this week
the only feature being 10-point re
duction in prices by the Warner S. r
Co. for granulated TO 7.65c, less 2 pc
cent 10 meet the basis that was beinl
quoted by the American S. K. Cos Ar
buckle Eros. and B. III. Howell Son 4
Co. The Federal s. R. Co. still quotes
7.75c less . per cent but announced
that il would accept business at 1860
less . per cent for delivery from con
signmart points only. The local trad,
is amply supplied for the time being
and new business at 1850, less ? pc
cent As limited on account of Offering
from second hands, which were offeret
Is early in the week at as low as 7.25C
less . per cent. About 5000 tons o
refined sugar for export for June shin
meat was purchased by England earl
w.. in the week at 6.40c, net cash (. o. b
aud later some 5000 tons were cor
tracted for, understood. to be in e1
change for raws, at rumored diffel
entail of about lis points, equivalen
to about 1-ic, basis SO degrees C. & +
for the raws and 6.40c in bond for tn
refined. Besides other small eXpor
orders at 6.49e, at the close Of tn
week 5000 tons were bought for Jun
shipment from New Orleans at pric
understood to be G,$Sc, net casf
#, o. b..
Motorcycle, side cars are being SUI