Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-01-12
NO PRESSURE OF
CUBAN SUGAR; ALL
GOING TOEUROPE
Cleaning Up of Porto Rican
Offerings Places Market in
Better Condition

Offerings of new crop Cubans in
New York were unreasonably light
during the last week Of 1915, according
to Nevers & Callaghan OF 80 Wall
Street, who point out In the following
market letter Of December 81, that the
early sugars are going TO I'LL Euro
pean contracts:
The past week. which has been
shortened by holidays" says the let.
ter, has been productive of but lin
tied business. Sales made early in
the week of some 40,909-50,000 bags
Porto Ricos to clear at various date
within the first half of January at
4:45c basis SO deg. c. /. T. removed 4
weak feature from the market, as sell
ers OF these sugars had been anxious
TO close them out. With these press
ing parcels out OF the way, the market
became firmer in tone, except for
nearby sugars.
Several local refiners had closed
or were about to close down for an
nual repairs and such refine-S as SCR ?
still working, appeared to be s1ffi-
GENTLY supplied with immediate
stocks to meet the light demand they
were encountering for refined In
consequence, sales of about 1000
bags of Cubas for December clearance
to reflner at 3 SIS basis 90 deg. c. e.
T., established decline Of lac under
previous prices raid for prompt ship.
ment Cubas, while small cargo for
first half January clearance sold at
3 9-16c basis SO deg c. & f., which
was 1-16c advance over last price paid
for Cuban sugars in this position.
Steamers Provided.
THE offerings of Cubas during the
week were unseasonsbly light prob
ably due to the urgent necessity for
the early production of the island tc
apply on sales already made for shin.
ment here, and to cover commitments
for European accounts on (. O. b. Cuba
purchases made earlier in the season
and for which the purchasing agents
provided steamers more promptly
than was anticipated. Therefore,
while reiners are more or less indif-
ferent as buyers, yet sellers are not
pressing their offerings of Cubas, pre-
ferring to wait until they have sui
ficiently covered these contracts be
fore they feel warranted in making
further tenders. The week closes
with moderate offerings of Cubas held
at 3 5-Sc to 7-Sc basis SO deg. c. & r
for December clearance and in port
3 5-Sc for tirst half January shipment
3 lee for all January shipment ana
3 3-Sc. basis SO deg. c. & +. for lSebrp
airy and March shipments, and with
a limited quantity Of Porto Ricos
available at 4.5l5c for prompt clear.
ance and 4.45c basis SO deg. c. l. (.
for last half January clearance.
The weekly cable on Tuesday from
Cuba reported receipts of 27,704 tons
and n Centrals grinding, as compared
to $4,000 tons receipts and 81 Centrals
at work at the corresponding date last
year. Today 90 CentraIs are in oper
alton and the weather is favorable
for the growing crop.
THE demand for refined has been
extremely light, the trade being fairly
well supplied at the moment and no,
caring 10 replenish stocks until after
the holidays. The Federal s. r. Co,
who are now closed FOR annual re
pairs, reduced their price during the
week 70 5.S5c less per cent to dis
pose OF email balance or stock they
had on hand. and withdrew from the
market after having done so. All
other interests are quoting 5.95c less
2 per cent and getting very little bust
ness"