The Hawaiian gazette., 1916-12-22
new CUBA CROP
SELLING RAPIDLY
WiIIett & Grays Weekly Resume
of Worlds Trade In
Sugar

! Sales of raw sugar at New York
| during the week end December were
! II 900 bags Cubas immediate clearance,
between 100000 and $50, 900 tons Cuba
| eentrifugals for January TO April ship.
ment and delivery, 1000 bags Cuba
! centrif lgals afoot. 10000 bags Cubas
February to March shipments, 10000
bags Cubas January TO March ship.
ments and 5000 bags Perus in port.
Stocks in the United States and
Cuba together were 146,422 tons
against 139,S0l tons last week and
1 15S.653 tons last year, a decrease of
! 1921 tons from last year.
| Heavy business in new crop Cuba
sugars is reported as the interesting
feature of the week by Willett & Gray.
Including sales reported previously,
WiIlett & Grav state that about $780,
900 tens of the new Cuba crop has
been sold. The Cuba crop is esti
mated IN the report at 100000 for
the December to June harvesting
period.
Low Price Not Reached
Discussing pyices, Willctt & Gray
state that the larger part of the 10000
! to 100000 tons new crop Cubas sold
= to the American at an average price of
about 4 n cents c. & (. (5.l4 cents) and
the balance was disposed of to the
! United Kingdom Mt $50 cents f. o. b.
Cuba. Further moderate sales occurred
! to other refneries and operators at the
| 5.l4 cents basis. The report continues:
owe do not believe that 31a cents
! +. o. b. and Az cents c. & +. New York
will be the low point for the season,
but rather look for the low point of
, the campaign to be seen in one of the
early months of the new year, when
sugars arrive at the Cuban seaports in
large quantities.
: "However, the taking at this early
date of so much of the Cuba crop at
basis Of 31a cents to 800 cents f. o. b.
and AZ cents c. & f. New York, must
be taken as an indication that if it is
not the low point of the campaign it
is perhaps within - cent of such low
point, to be reached in February,
March or April, 1917, when the pres
sure of large receipts for sale becomes
prominent.
| 1.-THE weather having turned fine
the crop season has made its begin
ming by 3 estates, to be followed
rapidly by others if the fine weather
continues.
Perus Advance Market
"Local market quotations were IN
changed for the greater part of the
week from ~ cents C. & f. 1894 cents,
although for last few days ~, cents c.
l. f. has been asked, with some en-
enlargement from operators at that
price. However, Peru sugars in port
sold at the duty paid equivalent of
$50 cents, advancing market quotations
to that basis.
AS we 60 to press the market is
quiet with sellers at AN cents c. 4 f..
(5.G cents) and buyers at Is cents less.
"Porto Rico advices report that the
new crop has commenced. A sale Of
new'crop Porto Rico sugars is reported
at SOP cents, delivered Boston via New
York;
""rorts from Cuba to WilIett & Gray
told of the starting of the 1867 Cub,
cop that week With TinguarO and
grinding December and another cen
wee'n Light rains occurred during the
week.
Cuban Weather Good
Regarding the old l9I5-l6 crop, the
exports Of the week were 1928 tons,
all to United States Atlantic ports,
leaving 35,G26 tons stock in the island.
Scattered rains in all provinces Oc'
CURED during the first part of the week,
but later cables reported the weather
as fine.
"A special cable from Batavia gave
the outturn of the Java crop, which
started April, 1916, as l,595,26O tons
The last estimate received of this crop
was $50 900 tons.
Refners Lists Reduced
AdSices on refined were that granu
lated sugar in bulk was reduced by all
refners thirty points to a basis of 7.2O
cents less two per cent. Refners' lists
were also reduced but the reductions In
the different grades were irregular.
~ Beet sugars were reduced to I cents
New York basis, territory west Of Buf
falo and Pittsburg
. "New Orleans, Kansas City, Denver
, and San Francisco markets made CORES
ponding declines.
"The export market is higher and {
cents is asked for prompt, SIS cents fol
January~ and 5.25 cents for February
AT one time during the week it wa,
possible to buy prompt as low as SIT
: cents net cash, and the above quota
, tons might be shaded slightly AL
: these export quotations are basis fine
graduated, net cash in bond. "