Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-07-26
Price OF SUGAR
HOLDS UP. well
UNDER PRESSURE
Despite Adverse influences In
Market Advance of Eighth
( Is Scored

a. 10 SOSi S0
Especial correspondence from New
ers 4 Callaghan, 80 Wall Street, New
York.. .s
NEW YORK, July I4.-The con-
tlnued buying of raws F. o. b. Cuba
by England and otner foreign coua-
tries, and the increased Inquiry from
the domestic trade for refined here,
were the sustaining factors TO the
market this week. Notwithstanding
temporary adverse influences. such as
the cutting OF prices for graduated
INDUCED in by Philadelphia refiners
and the selling Of an accumulation OF
raws in port by one refiner, ol ac-
count OF congestion at refinery decks,
at a slight concession in price, the
net result OF this weeks transactions
shows an advance of 1-Sc in the price
Of cubas and 13c in the price or
Porto Ricos, as compared with closing
prices OF last week. The advancing
tendency became manifest early in
the week when Csc basis Sc deg. c
& I, was paid by reffners for a limit
ed quantity Of Cubas for prompt cfear-
ance, and 7.20c basis SO deg. c, /. (.
was paid for two small parcels OF
neaby Porto Ricos. Following these
/, transactions, although a temporary
setback was felt on account of the
sale OF about AZ 900 bags of Cubas in
port at 5 lac basis SO deg. C.. & T.,
the recovery was rapid, and the for
mer basis for Cubas was promptly
restored by later sales on the same
day of some 10000 bags of Cubas for
prompt clearance at 3-8c basis SO
deg. c. & r., and an advance of .07c
over last prices paid was established
for Porto Ricos by refiners accept.
ing 50,000-6O,O00 bags of these sugars.
afloat for prompt shipment, at 6.27o
basis 90 deg. G. 1 f. The firmer trend,
Of raw prices stimulated a better de.
mand for refined so much SO that
Philadelphia refiners, who had lower.
ed their quotations to 7.45c and 7.50c
less per cent were offered q large
business, part Of which they accepted
before restoring prices TO 1850 less
per cent, the same basis as quoted
by local refiners. The buying move
ment In refined grad0afIy extended.
and q fairly iafge business was book.
ed at 7.65c less 2 per cent. which
caused refiners TO resume buying raw
supplies on the basis OF 5 3-8c basis
96 deg. c. & e. for nearby Cubas.
About 125,000 bags spot, afioat and
prompt shipment Cubas were taken at
Csc basis Sc deg. c. & T., while a
small cargo for August clearance was
taken at 57-I6c basis IS deg. G. & Z.
by philadelphia fefiner Cuban
holders generally showed no DISPOSE
ton TO sell any large line at under
5 1-2c basis sc deg. {. & f., but as the
buying movement IN refined came to
an end, refiners hesitated on raws
and some parcels which subsequently,
were offered at s 3-sc basis IS deg
{. & 4. failed to find buyers, and up
to the close these have not been
taken. A very limited quantity of
July shipment is offered at 7.16c,
while a fair sized quantity OF july
August shipment Is for sale at ) Ice
basis SO deg. c. & r
The buying Of Cuban raws By ling.
land and Argentine, which started at
SC Z. o. b. last week. continued dur
ing the early days OF the week and as
high as 5 Zoe (. o. b. Cuba was finally
Iftt1us tlS Q0au[tbys cOlQ o0IlAl6 tilS
two weeks is generally estimated as
40.000-50, 900 tons for July-AugustI
loading, and IL is reported that the
British commission has arranged
with american refiners for the latter
TO take over 81. 000-S5.000 tons Of raws,
giving In exchange similar quantity
Of graduated az a fixed differential
supposed to be lie. The exact par
ticulars Of this transaction, however,
are not confirmed.
The weekly cable on Tuesday from
Cuba reported receipts Of 1861 tons
and IL Centrals grinding, as COM
pared to 1S.725 tons receipts and II
Centrals at work at the corresponding
date last year Today II Centrals are
in operation and the weather is favor
able
Although early in the week the de-
Of increasing at 765c less per cent
for granulated. quoted by all refiners,
advice from Philadelphia on Tuesday
to the effect that the w. J. McCahan
S. r. Co. and the Pennsylvania S. Co.
had declined to 7.50c and 1850 less
per cent respectively, had ten
dency for the time being to discourage
business here Orders diverted 10
Philadelphia at the lower prices
quoted were sufficient in volume &C
cause Philadelphia refiners TO quickly
return TO the basis of 1850 less 2 per
cent. which move induced increased
buying In this market by the domestic
trade, and fairly large demand set
in. at 7.65c less 2 per cent. This de-
mand came almost entirely from the
!. Eastern territory. as the Middle West
placed their orders principally with
Western refiners and beet manufac.
turers. who were selling as INV at
7.45c less per cent for canc and 1.25c
less per cent for beet graduated.
FEMINIST MOVEMENT pIscouR-
AGED