Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-02-17
CUBA PRODUCES
522,g32 TONS
70FEBRUARY |
Increase Of 10000 Tons Over
Last Years Figures; Fu-
lures Go at Premium

Figures of Cuban production to the
! first OF this month, together with an
interesting market review, are given
in the weekly bulletin published by
Nevers & Callagfan of SO Wall
street. The review, put out under
date of February 4. follows:
The stronger tone that developed
| in the market at the close of our last
review was again in evidence at the
opening of this week. Sales late last
week, aggregating about 100000 bags
! Cubas in various positions at 3Ac
| basis go c. &, f., cleared the market
of all offerings at this price, and the
continued good demand for refined for
both domestic and export purposes
caused refiners, early in the week, to
enter the market for additional raw
supplies. ....-..s /.
Holders we're firm and although a
speculator succeeded in obtaining one
small cargo of Cubas for February
shipment at 25-32c basis go c. & f.,
and refiners bought about $4,000 bags
OF Cubas afloat and for February and
March shipments at 1850 basis go
& f., no further offerings of Cubas
appeared at under SIC basis go C.
& f.. Buyers hesitated about paying
this price and consequently sales were
hard to effect at 37sc basis go c. & t.
After a sale had been made to specu-
lator of 10000 bags Cubas for first
half February shipment at 8 &c basis
$50 G.. & f., and an outport refiner and
also local refiner had paid this price
for a limited quantity of Cubas for
March shipment, the market became
stronger and appeared to be on the
verge of being firmly established on
the 3Hc basis, when labor troubles
developed in several of the local re-
fineries, causing buyers to hesitate,
leaving about 100000 bags Cubas, prin-
cipally for February shipment, still
available at this price.
while holders accepted 327-32c
basis go c. & t. for about 10000 bags
Cubas afloat from Philadelphia re
timers, yet bids at this price for New
York for March shipment failed to un-
cover any sugars, holders being san
guine of eventually realizing their
asking price of 3Bc basis go C. & f.,
for their February and March hold
ings. Porto Ricos for February clear
ance that sold at 464c basis go c. i. f.
during the previous week, brought
4.70c basis $50 c. i. f., on small trans
actions made during this week. Sell
ers of Porto Ricos are still offering
cautiously, sbeing in fear of labor
troubles on. the island.
AT the close, the market is quiet
but firm with offerings of about Co.
000-70, 600 bags Cubas for February
and March, shipments at 3Bc basis go
c. & I. and very limited quantity of
Porto Ricos for February clearance
held at 4.77c basis go C. i. t. Buyers
are still hesitating, awaiting the out
come of impending labor strikes in lo-
cal refineries. A sale of interest dur
ing the week was that of a cargo of
San Domingo sugars for February ar
rival to a Canadian refiner at 3 i3-16c
basis go c. l.
THE weekly cable on Tuesday from
Cuba reported receipts of las, 347 tons
and 169 centrals grinding, as COM
pared to $4,000 tons receipts and 100 |
centrals at work at the corresponding
date last year.. Today, 172 centrals |
are in operation and the weather con-
tinues favorable. Messrs. Guma-Mejer |
report the production for January at |
1908 tons, as against 258,172 tons
for January, 1915. The total produc.
ton to February 1 is given as 522, 1892 |
tons, which shows an increase of |
shout 100000 tons over last years fig
ures, but only $4,000 tons over 1914.
The improvement in raWs brought /
in further domestic business for re-
fined, and refiners, early in the week, /
advanced their list prices on granu. /
lated from. $3.50 less eco to &c less
zGe, with all interests firm at the adj |
vance. The &c basis tended to check
further domestic orders, as the trade /
mad previously supplied themselves /
for their requirements well I'D into
March. However, limited export in.
1uiry continued during the week with /
refiners generally asking sc f. O. b II
n bond, for granulated, and some mod. H
crate business was done at 4.9O@4 e5c II
o. b. for March shipment.
The trading in options reached a
total of 24,250 tons for the week
Closing quotations today are: Feb
.uray 3.S6@3.SSc, March 3.82@3.S4c.
april S.87@3.S9c, May 3.93@S. Csc An.
Just 4.O7Q4.O9c, and September 4.11@ Il