Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-10-31
SUGAR SUPPLIES
REMAINDER YEAR
ARE VERY SMALL
Eastern Markets Must Depend
on Last of Cuba and New
Orleans Shipments
cSpecial Correspondence, Czarnikow,
RiCnda Co, III Wall street


I RiCnda Co, III Wall street
NEW YORK. y. Y, Oct I2-Deyel-
! opments during the weekend in the
! European conflict, which brought sub
marine warfare within few miles of
! the UaHad States Atlantic coast and
caused the destruction of several
steamers. created a stronger situation
/ i'm sugar on this side This added
| strength was mainly the result OF
Hears of possible interference with
shipments of raws for American refin-
/ ers. whose stocks had already dwin-
| died to an almost unprecedentedly low
/ level for this time of year. and during
| the first two days of this week our
market was cleaned of everything
available at the basis Of Cubas at &C
| CT. fG02cl Subsequent small trans
actions in Cubas consisted of prompt
shipment at 5.06c CT. f50Sel to New
York, and at 5.125c CT t6145cl for
an outport, were followed today by
sales Of about 10000 bags October
shipment at 5.125c CT, at which price
there are further buyers, but no sell
lers
II is interesting to note that at the
recent sc CT level for Cubas. Porto
Ricos sold at G.02c delivered, thereby
securing the full parity of cubas,
whereas practically throughout the
year they have been selling at around
125c per III. below the landed equiva-
lent of Cubas. The total reDoitcd bus.
mess of the week aggregates about
$4,000 tons of various descriptions, a
quantity which continues considerably
below current weekly melting require
ments. The spot quotation advanced
125c to 6.1f5c, basis 96 deg.
The figures of weekly receipts and
MEETINGS indicate a very strong posi-
ton for the article, the smaIlness Of
the former having been responsible
for bringing stocks in all hands at At
lantic ports down to 103,700 tons, of
which importers hold 25.600 tons.
leaving balance OF 7S,l00 tons in re-
finers' hands. a quantity which is
slightly more than sufficient for one
weeks requirements at the present
rate of MEETINGS. ~.
With only negligible quantity OF
sugar yet to come forward from Ha
waiian islands and Porto Rico. it
would appear that aside from the linn
tied portion OF Philippines and full
duty sugars that might be expected
during that period, refiners will have
To depend upon duba- -aAd= whatever
portion of the Louisiana crop can be
shipped from New Orleans as their
almost exclusive sources of supply for
the balance of the year And should |
ha
tinue as much below United States
MEETINGS as they have during the past
few weeks, and as is likely to be the
case, our market will continue very
firm for some time to come and SUI
CARS available for prompt delivery to
refiners should command higher pri-
ces than those now ruling.
Cuban Production
Early this week We were advised |
Guma-Mejer gave 3,007,915 tons sugar
as produced in the island during the |
l9l5-16 campaign, as against H. A. |
IIimley's final figures of 3,o06,624 |
tons. A crop of this size had been
generally expected, as well as dis /
counted, for some months past.
Transactions in sugar futures on the |
New York Coffee and Sugar Exchange |
this week total $4,000 tons. The daily |
trend of prices has been steadily up |
ward, and today's closing bids of Dc |
toher 5.23c, November 5.22c, Decem- |
Der 4.S7c, January 447c; February
1.lSc, March Use, April 421c, May |
Zoe, June i.2SC. July 4.51c, Aug 1.3ic, /
show aggregate advances from last |
Fridays close Of CSC in October and |
SIC in November, .19c in December, |
lie in January, .13c in February and /
April and .1fc in May and August de-
hyeries. .........