Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-03-07
CUBAN DROUGHT
HAVING SERIOUS
EFFECT ON CROP
Is Reducing Tonnage of Cane,
But Makes Sucfose Contents
Higher Than Before

the 1SlanQ IL stated III Jne r6DEuaIy
Is sugar market review put out by
the Clarnikow-Rionda Company, liz
Wall street, New York. The review
follows:
The close of last week was under
the influence of the strikes prevailing
al some OF the local retinefies AM
which at one time threatened to bring
Their operations to a complete stand
still. But even with this disturbing
condition, and the fact that little for
eign inquiry was in evidence for raws,
Cuban sellers held firm in their views
without showing any inclination to
press their sugars.
"As a result of an adjustment OF
above mentioned labor troubles dur
ing the weekend. our market opened
much firmer on Monday, l4In insL..
and after operators had absorbed the
limited quantity then available az
3.S75c c. 4. (4.ssc), prices Immediately
jumped to &c c. I. (o.OzcJ, 1T Wn.cn
over 100000 bags Cubas for prompt
march and April shipment were pur-
chased by refiners during the next
two days. Expectations tnat Tnis
rather attractive level would bring
iDout repetition Of tue generous OF
ferings 1t induced last year, in this
instance, however, falled to materiaI.
ize. The display OF such strength IN
raws, coincident with a large demand
for refined from the domestic trade,
made at least partial provision for fu-
ture requirements so necessary as To
cause moderate transactions by REIN
ers in March, April and even May sup
plies at 4.06c G. I. (6.UScJ, and then az
4.l26c c. 4. (6.14cl. The total business
of the week reported till last evening
amo.its to Sc ,OVv tons Cubas and 46OJ
tons Porto Ricos l4.Ssc 9: !. I. being
paid for the bulk OF the latter, on
which the spot quotation was adj
yanced .25c per pound to 5.0Sc, basis
So degrees. -
Stocks az Low Level.
-1'he recent very active domestic
demand for refined strongly confirms
the opinion consistently prexatisng M
certain quarters for some time past
that stocks throughout this country
had been allowed to dwindle to q very
lew level. Despite the enforced cur
tsilment Of output by those refineries
by the strike, MEETINGS 81 the
three Atlantic ports during the week
amount to $4,000 tons. whereas the ar.
rivals of raWs during same period
were 1900 tons below that figure.
That MEETINGS should have reached
such proportions when some Of our
largest fefineries we're practically idle
by reason ofNthe strike appears quite
and proves that the plants
not involved in those difficulties have
been working at or very nearly their
maximum capacity, also that owing to
the recent large domestic orders, IN
addition to rumorsd moderate sales
for. export, MEETINGS from now on
should be at the summer rate Of 10000
DR. 10000 tons weekly, thereby preclud-
ing the possibility of any accumulation
of stocks at Atlantic ports, and which
today are $4,000 tons below those at
date In 1915.
Gables received lately from abroad
state that the British government will
sndeavor to diminish the kingdom 3 |
tion Of sugar by 20 per cent
20 Is per cent. Calculated upon last
years figures of consumption, the in
,ugurati6hs of. such. 2 ciirtailment
would mean that about 100000 tons
ess need be imported this year. Such |
. report might readily have had de-
PRESSING effect upon our raw sugar
market, but the fact that on the con-
rary an advance in values followed |
is announcement here, furnishes adj
iitional proof of the unusually strong |
statistical position at present occupied
~ the article.
foreign Inquiries Stop.
The recent sharp advance in prices
lere prevented foreign Inquiries for
JUDAS in excess of 100000 tons for
hipment during March-June from re-
Iulting in business However, as the |
sugars eventually will be required and
sources of supply for some time to
.ome are limited to the island Of Gu
"a, there is no doubt that a very large
Iuantity win later be sold for ship /
nent thence to Europe.
Harvesting of the Cuban crop goes
apidly on, due to favorable grinding |
weather., and it was somewhat of
urprise that receipts there this week /
hould have been $4,000 tons below
hose recorded fortnight ago. There
ire continued complaints that the pro-
onged drought has not only affected /
he tonnage Of cane. but that this will
AVE more serious effect upon the |
rowing crop. Previous estimate of
bout 100000 tons, however, Is still |
adhered to, the decrease In |
onnage being 20 a great extent Offset
" the higher sucrose content - COM
jared with last campaign.
Exports of Ur ted States refined
ugars since January LIST this year
Iaving now mounted to 1929 tons.
Igainst only 1874 tons during same
'eriod last year, and with heavy ship
nents still pending. earlier forecasts
# exports aggregating 100000 tons
Turing January-March, are more apt
o prove conservative than excessive.
Trading IN sugar futures on the
few York Coffee Exchange has been
Iyer twice the volume attained last /
week, involving 81, 400 tons. Although