The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1916-07-07
TRANSFORMATIONS
I. week VI K. Of June q
United Kingdom viii Have To
Have Additional Supplies OF
American Refined

| ohies OF raw sugar at New York
during the week ending June 90 were
100000 bags Porto Ric6s and $4,000
Cubas. Willett Il GrRy's report states
in part, that Cuban exports were a.,
lT3 tons and that stocks had fallen to
| I40,539 tons, against last year no. 00
tons; Centrnls grinding 20, against 81
last week, 23 last year and 10 in 1914;
Stocks in the United States and Cuba
together l,O03,007 TONS against 1,03S,.
| $50 tons last week and l,l94,589 tons
last year, n decrease of l0l ,5S2 tons
from last year. +r.t
Last weeks quotation of 640c for
Cuba eentrifugals, go test, remained
unchanged until the close, with the
rather unusual condition that no sales
| of .Cubas were made until June 81.
Very Wide Differential
Porto Rico Centrifugals have been
increased demand at 6.02c to 6.0Sc per
ID, showing the somewhat unusual DIFF
| ference of 32 to 80 points below Cuban
| values. Having no duties to pay and
having somCwhat remarkable profits
accommodating by the Porto Rican sugar
corporations, they appear disposed to
turn their profits into cash and divide
them literally with their stockholders.
Some reRners, who have not made
special efforts to compete in the re-
fined export trade, have been buyers
of Porto Ricos at the recent prices,
| and these Tefners have been able to
| quote gTnnulate sugar at the 7.30c
basis, or, say, at a difference of 1910
above ruws, which is sufficient to show
u fair margin of profit. Based on Gu
ban values, the difference between
raws and refined at 7.30c is only
.SS4c. On the other hand, buying Gu
ban raws at SIC and selling export re.
fined at 6!40c shows q margin of l.15c.
British Are Short
The cable recently received from
London, stating that the recent large
export business in refined was all in,
tended for France, indicates that
Great Britain itself is still in need of
July requirements, and if this foreign
demand should obtain at the time of
an increased local demand, the market
should show much Improvement.
In confirmation of the. above, the
Z. X. this week purchased 60-75,OO0
tons of Cuban sugars. Included in this
amount are 10000 tons of white raws
sold at about 520c. These latter su-
CARS can be used for direct cOnsump.
ton. The ordinary raw sugars sold
from 4.95e to sc f. o. b. Cuba. The
shipment of these sales is JulyAu-
gust.
Holders Are Waiting
Generally holders appear content to
await the expected increased demand,
kAN n,,l
withholding their sugars or else ware
housing sugars arriving in port unsold.
There were few holders, however,
that were willing TO sell at last week 3
prices, or even at concessions from
same.
Cuban receipts for the week are only
1912 tons, against 10000 tons last
year. Exports are smaller at 74,l73
tons total, distributed as follows: A.,
All tons to. U. 8. Atlantic Ports, .,
ALB tons at~New Orleans, 4,643 tons to
Galveston and % $50 tons to Europe.
Hawaiian Sugar Helps
The exports to the Atlantic Ports
are Just about sufficient, with the POr
to Rico and Hawaiian sugars arriving
to cover MEETINGS. Atlantic Ports total
stocks are over 5000 tons and are
not in the sensitive position obtaining
for such long period earlier in the
year. Cuba stocks are reduced to 745,
500 tons, against 10000 tons at thia
date last year. Twenty Centrals con
tinue work. Visible production to June
18th is 1881 no tons; against 1928,
7l3 tons and 1881, 223 tons to cores.
ponding date Of the two previous years
respectively.
In Foreign Lands
India s imports for the year ending
March "a, 1916, were 42S,595 tons,
against $1,000 tons for same period
previous year, showing a falling off Of
about seventeen per cent. The increase
in India s. own crop, however, more
than made up for tho deficit in i'm
ports.
During April the completion of the
shipment of total l44,957 tons Mauri
thus sugars to the British Government
was made, the shipments having oc-
eupied n period beginning the previous
August.
Reports from different United King.
dom ports show refners with a suf
ieient supply of raw and. running re.
gularly, but not being able to outturn
sufficient refined to III the demand.
The imports Of refined, reports state,
are not enough to supply requirements.