Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-03-09
NO PRESSURETO
OFFER FORWARDS
AT LOWER PRICE
Temporary Recession Late in
February Due to cubas for
Immediate Taking

Neyers a. Callaghan. 80 Wall street,
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, APP
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 reluctance to
contract for any further quantity of
raws. In consequence, the market dis
played an easier undertone and offer
ihgs of Gubas at 4 1.6c for February
and March shipments and 41sc 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 4 Lee
basis SO deg. c.&f., and 5000 bags for
March shipment at &c basis SO deg
c.&f. 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 8 1916
basis SO deg. c.&f Although refiner
paid 4.S9c masis So deg. c. l. f., for
some 10000 to $4,000 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
Rlcos in the more forward positions,
and at the close, there remain some
10000 to $4,000 bags Porto Ricos for
late February and early March clear
ance for which 1880 cannot be real
lied.
The more pronounced weakness ap-
parent on nearby Cubas and Porto
Ricos 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 U. s..
which would predicate continued iarge
arrivals here for the next few days
During the week, one small cargo of
Cubas that arrived here unsold was
ordered into store rather than accept
3Hc basis SO deg. c.&f., which was
the best price obtainabie 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practically withdrawn from the mar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
bias at &c for prompt and 4. 1-6c basis
IS deg. c,&f., for March and April
shipment. There is no pressure to.
sell forward positions, however, and
comparatively small quantities are
being offered from Cuba
THE weekly cable on Tuesday from
Cuba reported receipts OF 1871 tons
and IFS centrals grinding, as compar-
ed to $4,000 tons receipts and 173
centrals at work at the corresponding
date last year. Today. 1870 centrals
are In operation and the weather Is
dry.
The advance in graduated to 625c
less per cent for domestic purposes
and to 5.30c Lob, In bond for refined
for export, now quoted by all refiners,
has tended to check business for the
finished product. While Withdrawals
by the domestic trade have been fairly
liberal, new business has been ex.
tremely light. A limited export in
quiry has been in evidences during the
week but actual orders placed have
not been large in the aggregate owing
to the fact that the prices being asked
were above buyers ideas.
The trading in options reached an
aggregate OF 21.200 tons during the
week Closing quotations for the most
active months are: March 10000
Ale, April 4.14c@4.16c, May 4.19c@
4.20c, July 4.2Sc@429c, and September
4.38cm4. 40c.,