Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-03-09
NO PRESSURE TO
OFFER FORWARDS
At Lower PRICE
Temporary Recession Late in
February Due to CubaS for
Immediate Taking


offer the following Sugar Market Re-
view under date of February %:
The extensive purchases made by
refiners last week, added to their sup
plies previously contracted for, ap-
parently provided them with ample
stocks of raWs to cover their commit
ments for refined, and as the export
and domestic demand for graduated
had abated. refiners, at the opening
of the week, showed a reluctance to
contract for any further quantity Of
raws. In consequence, the market dis
played an easier undertone and offer
ings of Cubas at 1-6c for February
and March shipments and 4sc basis
SO deg. c.&f. for April shipment failed
to find buyers.
Holders gradually modified their
views and while about 100000 bags
Cubas for April shipment at A Ice
basis 90 deg. c.&f., and 5000 bags for
March shipment at &c basis SO deg.
eff. were taken during the week,
principally by spectators. this buying
did not take care of all the offerings
in these positions at these prices and
neglected some few scattered parcels
in nearby positions that were unsuc-
cessfully offered as low as 3 15-16c
basis So deg. c.&f Although reffner
paid 1880 masis SO deg. c. /. f., for
some 10000 to 10000 bags Porto Ricos
for prompt shipment early n the
week, yet this price was only obtain
able at the end OF the week for Porto
Rieos in the more forward positions,
and at the close, there remain some
10000 to 10000 bags Porto Ricos for
late February and early March clear
ance for which 1850 cannot be real
lied.
"The more pronounced weakness ap-
parent on nearby Cubas and Porto
Rieos as compared with sugars In
later positions, Is due to an accumula-
ton of unsold parcels of nearby sugars
in the face of very heavy arrivals OF
sugar In this port within the past sew
eral days. and the liberal exports from
Cuba during the past week to y. s.,
which would predicate continued iarge
arrivals, here for the next few days.
During the week, one small cargo OF
Cubas that arrived here unsoldt was
ordered into, store rather than accept
E2zec basis SO deg. c.&f, which; was
the best price obtainable at that time,
and two large cargoes belonging To
refiners were also ordered into store
because Of the lack of room at the re-
fineries for handling same.
"The week closes with refiners still
practically withdrawn from the mar
ket, especially for nearby sugars, but
with spectators showing some Inter
est in the moderate offerings OF Gu
has at &c for prompt and 1-6c basis
96 deg. H&f., for March and April
kshipment. There is no pressure to
sell forward positions, however, and
comparatively small quantities4 are
being offered from Cuba
"The weekly cable on Tuesday from
Cuba reported receipts of 1873, 715stOns
and 17S centrals grinding, as compar
ed to $4,000 tons receipts and IL
lcentrals at work at the corresponding
date last year. To-day, $50 centrais
are in operation and the weather Is
dry.
The advance In graduated to 6.25t
less per cent for domestic purposes
and to 5.30c fob, in bond for refined
for export, now quoted by all refiners
has tended to check business for ths
finished product While withdrawal.
/ by the domestic trade have been fairl.
| liberal. new business has been ex
tremely light. A limited export in
quiry has been in evidences during thu
week but actual orders placed have
not been large in the aggregate OWNS
1 to the fact that the prices being asked
were above buyers ideas.
The trading in options reached al
/ aggregate of 21,200 tons during thu
week. Closing quotations for the mos
/ active months are: March 4.09c@
l411c, April 4.14c@4.16c. May 4.19c@
l4.20c, July 4.2Sc@4.2 9c, and Septembe
4.3Sc64.40c. 4.