Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-05-05
SUGAR DEMAND
Still HOLDS
HHLA UINIH1MItI BE-. ---
MARKET Firm
Market Review Tells Conditions
That Keep Prices Up to
High Figures -. i.

That buying by refiners practically
cleared the market, for the time be-
ing. of Cubas and Porto Ricos, is
statement contained in the Sugar
Market Review, issued by Neyers 4
Gallagher Of 90 Wall street, New
York. under date OF April 20. This
Review says OF the market and gen.
eral conditions: r:. r. F..
NEW YORK. April 2O.-2The cOntin
ued buying at the beginning OF this
week by England and Continental Ell
rope OF refined sugar for export and
raws on and f. Q. b.. Cuba basis, TO
complete untitled orders that were in
hand last week, was the incentive for
strong and higher market through
out this week. the net advance on
Cubas being .125c over the quotations
at the close of our last review. At
the opening OF the week, offerings OF
Cubas were moderate with holders
asking ) 1-Sc basis SO deg. c. K I.
for all positions, and fair line Of
Porto Ricos we're being offered at
5.92c to 602c basis SO deg. c. |. (.
Although early in the week refiners
secured one small cargo of cuba2
afIoat at SC basis 90 deg. c. K :.
t6.02cI and later another cargo afloat
at 5 lice basis SO deg. c. K l.. (60ScD
and one small parcel of 10000 bags
Porto Ricos afloat ut 5.S9c basis 80
deg. C. j. f.. further business at these
levels was impracticable, and in order
to obtain supplies of Cubas to cover
new refined commitments, both eX'
port and domestic. refiners found 1t
necessary to meet holders views, and
after purchasing about 200. 0OO.250 900
bags of Cubas for late May and June
shipment at 1-Sc SO deg. c. & T., they
subsequently paid this price for some
few parcels of Cubas affoat and for
April shipment, establishing the spot
quotations at 6.145c. This buying com
pletely cleaned the market of all Gu
bas offered at this price and operators
found it necessary to pay 5 3-16c basis
90 deg. c. & f. for 5000 bags Cubas
for last half May shipment and 5 lac
basis SO deg. c. & +. (5.27cl for like
quantity for June shipment to com.
plete some contracts. At the close
of the week the market continues
strong in tone and holders of Cubas
are asking 5 lac basis SO deg. c. & T.
for a few parcels, the quantity being
limited by the difficulties of securing
tonnage, while holders of Porto Ricos,
encouraged by news from Washington
to the effect that the Senate Demo.
cratic cauFus has agreed to accept the
House bill repeating the free sugar
tariff clause without insisting on the
time limit amendment, have advanced
their ideas and are firm in their ask
ing prices of 6.02c to 6.14c basis SO
deg. c.. i. f. for Porto Ricos for ApiN
and May shipments.
The weekly cable on Tuesday from
Cuba reported receipts of 1S8,709 tons
and TIA Centrals grinding, as com.
pared to $4,000 tons receipts and rs
Centrals at work at the corresponding
date last year.
1t is estimated that the extent oil
the orders for granulated for export
totaled in the neighborhood of $4,000.
100000 tons placed within the past
two weeks, which buying, coupled
with a fair. volume of orders placed
by the domestic trade, caused all re.
finers on Tuesday to advance their
list prices for graduated 10 to Is
points, the American S. R. Co. and
B. H. Howell, Son & Co., advanced
to 7:25c less 2 per cent, while the
Federal S. r. Co., Arbuckle Bros, and
Warner S. r. Co., advanced to 7.30c
less 2 per cent Late orders for re
fined for export have been placed al
zoe to 6.25c +. o. b. in bond. as
against prices last week of &c to 6.10c |
I. o. b in bond, but refiners are now
generally asking 6.35 f. o. b. i
The trading in options during the !
week reached an aggregate of 10000
tons. Closing quotations today are: |
ADril 5.1S65.20, May 5.20@5.25, June
5.27@5.29, July 5.3095.31, and Septem-
Der 5.3265.33