Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-12-26
SOUTH AMERICAN
MARKET OPENING
FORSUGAR TRADE
From Czarnikow- Rionda Company,
l12 Wall Street,

l12 Wall Street,
Il NEW YORK. y. Y. Dec. s-Our
last report was dated December |.
+ The market has continued in state
Of inactivity. as regards sugars for
PROMPT and December shipment. re-
ported transactions in old crop CHbas
being limited TO ono Of 1000 tons
afloat at 462Jc q f. t5:64ct This
cleared the market OF everything
available thereat, leaving only few
parcels either afloat or for prompt
shipment under offer at 4.75c l577ci.
Holders Of the recent small unsold ar
rivals having decided to store, tho
quantity now in hands of importers
here is increased to 1929 tons.
On small sale of 500 tons full
duty sugars in this port on 9th inst.
ar 4.4275c c. l. E., the spot quotation
was advanced csc per pound to $3.50.
basis 90 degrees.
The very small quantity of sugar
for shipment from Cuba now available
for sale, in conjunction with the com
paratiyely late start of crop operations
in the island this campaign by reason
of weather unfavorable for grinding
the cane, is likely to bring about
very strong situation during Deem
Der and first half January, provided
only that there win 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
Cubas for shipment during January
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. o. b. Cuba, while the
portion participated in by United
States refiners involved the price of
4125c c. I. (5I4c).
Although sales today of about 20,-
coo bags February-Mar shipment
Cubas at $500 [. o. b. represent con-
cession of loo per pound, there seems
to be very slight disposition on the
part of holders generally to accept |
that price, OF 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. {. t5.27c) is. being
asked.
Today's special cable of Messrs
Guna- Meyer reporting only three |
estates as having started grinding, as
compared with IL in operation at this |
time last year, gives a concrete idea |
- a. 11,~ Ia ~ 1oI
start of crop operations this season.
So far the negotiations for both
raws and granulated 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 fair quantity of
sugar for shipment during the early |
months of next year will be bought by
those countries.
From private sources We are to-day
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 graduated, of which only |
about 10000 bags raws remain UNI |
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 vacillating
course, and today's closing bids of De- |
cember 4.73c, January 4.33c. February |
4.OSc, March 4.03c, April 405e.. May
4.0Sc and June 411c are unchanged to
.02c lower on the week. while July |
4.15e, August Also, September 4.20c,
October 4.22c and November 423c are
.02c to csc higher