Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-01-21
REFINERS STILL
INDIFFERENT TO
Low OFFERINGS
Breaks in Prices in New York
Due to Weakness of Porto.
RicoS,. Says Review

That refners, because of the slack
demand for their product, continue in.
different to offerings, which has re-
peatedly forced eager Porto Rican sell,
ers to break prices, is the condition
summarized in the market letter put
out on January I by Nevers & Cal
laghan Of SO Wall street, New York.
Their review follows:
The week opened with moderate
offerings of Cubas at 5-Sc for nearby
parcels, 3 1-2c for January shipment
and CSC basis Sc degrees c. & (. for
February and March shipments. Hold
ers of Porto Ricos were asking 4515c
for sugars for first half January clear
ance and 4.45c basis 96 degrees c. & T.
for parcels for second half of Janu,
airy clearance. On account of the dis
appointing demand for refined sugar,
refiners continued indifferent as buy
ers and the market assumed an irreg-
ular and slightly easier tendency.
However, after sellers had modified
their views slightly, spectators en-
tered the market and their buying prin-
cipally, at 8 9-16c for Cubas afloat
and for first half January clearance
and at 7-16c basis So degrees c., & (.
for Cubas for all January clearance,
cleaned up the offerings in these po-
sitions at these prices, and had a
steadying influence on the market.
"Following these sales, although
holders of Cubas became firmer and
were not urging their sugars to any
extent, sellers of Porto Ricos became
and sale of 5000 bags of
Porto Ricos afloat at 4.45c was fol-
lowed by sales of about $4,000 bags
Porto Ricos for prompt clearance at
39c and later by sales Of about TO-
300 bags Porto Ricos for clearance at |
various dates in January at 4.33c basis |
96 degrees c. t. Fl. leaving further Of
ferings of Porto Ricos for January |
clearance at 4.33c that could not be |
sold at this price. The weakness OF
Porto Ricos did not affect Cubas to
my great extent, as holders of these
'emained firm and. following the trans
actions in Porto Ricos, spectators
again paid 7.16c basis So degrees c.
Z f. for Cubas for all January clear
lnce and also bought one small cargo
If Cubas for clearance about Janu-
Try IS at 1926 basis So degrees C.
Z f. 49,. Ill ~ +. .~@..:
AT the close, refiners are still in
different buyers and holders of Cubas
re asking 9-16c for sugar for prompt
learance, 8 7-l6c to 1-2c for Janu-
ry shipment and 3-Sc basis SO de-
rees c. & f. for February and March
hipments, and there still remains
bout 10000 bags Porto Ricos> on Of
err at 4.33c basis 96 degrees C.. /. T..
or January clearance. Buyers ideas
re generally 1-16c below these levels.
THE weekly cable from Cuba on
tuesday, reported receipts OF $1,000
Ons and 100 centrals grinding, as com.
AIRED to "a, 900 ton receipts and IS cen
rails grinding at the corresponding
ate last year. Today, 1877 centrals
re in operation and the weather is
for the growing crop. Messrs.
uma- Meier cable the production for
ne entire island Tor the month Of
'ecember as $4,000 tons, as against
4 ,676 tons last year, and 10000 tons
/ December, 1913. |:
Refined has been quiet and I'M
hanged at $3.50, less 2 per cent,
uoted by all interests, except the
ederal S. R. Co., who have been with
rawn from the market on account OF
eing closed down, but who now an
ounce that they will be ready to &C
ept business on Monday at the mar
ct basis then prevailing. Dealers
locks of refined are almost depleted,
Ut they are only placing orders on
basis, expecting an adj
lstment of list prices to narrow the
largin between raws and refined.
mall orders for export have been
laced quite steadily from day to- day.
le total reaching fair proportions, and
is also reported that $4,000 tons
ave been sold to England. The de
ills of this latter transaction have
oon withheld r.. -. |