Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-12-26
AMERICAN
MARKET Opening
FOR SUGAR TRADE
fFrom Czarnikow- Rionda Company,
II2 Wall Street,

Q
NEW YORK, ~ Y. Dec. s.-0ur
4 last report was dated December L.
The market has continued in a state
of inactivity, as regards sugars for
prompt and December shipment. re-
ported transactions in old crop Cubas
being limited TO one CT 1000 tons
afloat at 462Jc G. f. l5.64cl This
cleared the market OF everything
available thereat, leaving only a few
parcels either afioat or for prompt
shipment under offer at 4.75c t5.77el.
Holders Of the recent smafl unsold ar
rivals having decided to store, the
quantity now il hands OF importers
here is increased to 1929 tons.
On a small sale OF 500 tons full
duty sugars in this port on 9Th inst.
/ at 4437jc c. i f., the spot quotation
was advanced Csc per pound TO $3.50,
basis &c degrees.
The very small quantity of sugar
! fer shipment from Cuba now available
for sale, in conjunction with the COM
paTativeiy late start of crop operations
in the island this campaign by reason
of weather unfavorable for grinding
as well as for a proper ripening of
the cane, is likely to bring about
very strong situation during Deem
Der and first half January, provided
only that there will prevail during
that time a normal domestic demand
for refined sugars and a-moderate de-
mand for export is experienced.
The feature of the week has been
the appearance of foreign buying OF
q IL lr,. To-.
and April, 1917, recent business OF
that nature. combined with sales of
same shipment to local refiners, being
estimated as having reached between
100000 and 100000 tons. The great
bulk of that quantity was closed at the
basis of 3.60c, f. 0. b. Cuba, while the
portion participated in by United
States refiners involved the price of
4125c C. f. (5.14c).
: Although sales today of about 90
coo bags February-March shipment
Cubas at 3.50c T. o. b. represent a con-
cession of .10c per pound. there seems
to be very slight disposition on the
part of holders generally to accept
that price, or even 4.125c c. f. United
States for their February March
sugars, and for the limited quantity
of January shipment at present under
offer, 4.25c c. (. (5.27c). is being
asked.
Today's special cable of Messrs.
Guma-Meyer reporting only three
estates as having started grinding. as
compared with IL in operation at this
time last year, gives concrete idea
of the backwardness attending the
start Of crop operations this season.
So far the negotiations for both
raws and graduated for some time
pending with South American coun- |
tries have failed to result in actual
business, but there is little doubt but
that sooner or later a fair quantity of
sugar for shipment during the. early
months of next year will be bought by
those countries.
From private sources we are today
advised that the present estimate of
the current louisiana crop is 100000
tons, consisting of say rs per cent
raws and the balance clarified and
plantation granuIated, of which only
about 100000 bags raws remain I'M
sold and available before the end of
December, besides an unnamed guam
tity of the other descriptions
Trading in sugar futures on the
New York Coffee and Sugar Exchange
this week aggregates 42,S00 tons.
Prices have followed a vacillating
course, and today's closing bids of De-
cember 4.73c, January 433c, February
4.OSc.. March 4.O3c, April 4.05c, May
4.0Sc and June 411c are unchanged to
.02c lower on the week, while July !
Also, August 4.1Sc, September 420c, |
October 4.22c and November 4.23c are |
.02c to Csc higher.