Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-09-20
ADJUSTMENT OF
REFINED PRICE
HAS GOOD EFFECT
Buyers Wiling to Continue in
Market and Future Seems
to Be With Sellers
Especial Correspondence. Willett &
New York. Sept. I.

ana Tue HdIhBI uuTluS ilOSt VI IuC
week has been somewhat uncertain.
One day. however, quotations on the
Sugar Exchange we're sufficiently high
TO allow an operator TO pay 4.00c c. e.
T. t5.02ct, but later the market be-
came somewhat easier, with sellers at
this price. On Wednesday. however.
owing to All adjustment of the price OF
refined sugars. the market took on a
better tone, and IL was possible TO
cell sugars to several buyers at the
4.00c c. G. (. basis (5.02cl After sales
Of some $1,000 bags at this basis, the
market today showed a further i'm
l,rovement on sales to the Federal OF
rome 10000 bags Cubas. in store and
prompt shipment, at 4 l-Sc c. & T.
C5.14e1.
Porto Rico sugars are now in scarce
supply, and what few sugars remain
unsold from the crop are held above
the market price,
Full duty sugars, st. Croix, Venezu-
elas, etc, were sold yesterday TO the
American at Sac C. 1. T.. which is
a normal parity below Cubas at i.00e,
c. & + end today Federal bought San
Domingo full-duty sugars at &c C. |. I.
As remarked above, the adjustment
OF refined prices nearer to the basis
OF raws had a favorable effect on
sugar conditions In general, the de-
msnd for refined is improved and
buyers show a willingness to continue
in the market at full-up prices.
Conditions Are Encouraging
II seems to us that the future or the
market from now on lies entirely in
the hands of sellers of sugar, and it
would seem good policy for these sell:
ers to meet any demand from refiners
for raw sugars at &c to 1-Sc c.. & I. |
basis. as. In, this way, refiners will be
able to maintain steady refined mar
ket, which should encourage the coun- |
try to continue buying sugars from |
to day On the other hand, IL the |
raw sugar holders endeavor to force |
the market up and thus compel the
refiRers to advance the refined mar
kets we think that the whole position
of sugsrstwiH become disturbed and
unsettled again. as any advance thus
forced on refiners Is not susceptible
OF being maintained owing to the fact
that we are now approaching the sea-.
son Of the interviewing hof the entire
beet crop of the country, and which |
crop has. improved since last advfces
received fegarding same.
Cuba Condition. Normal
The receipts continue normal. &C.
cording TO our regular cable, the only
important item being the increase in
the exports to 4o,573 tons, OF which
1890 tons are destined to Europe
end balance 10 u. s. Atlantic ports.
The large exports caused stocks to
decrease TO 36f,S76 tons. Three Cen
trails continue grinding. The visible
Cuba production to the end of August
was 2.9s3,29s tons. The production
during the month of August, 1916, was
1864 tons, against 6g,S30 tons pro-
production to September Is 1885,.
2ls tons, against 2,496,65s tons last
year.
The weather is favorable for the
growing crop.
Shipments From Philippines
Our special cable Just received re-
ports the shipments during the month
Of August: 10000 tons destined u. S.
Atlantic ports. 1000 tons to San Fran
cisco. 1900 tons to England and about
5000 tons TO Asiatie ports The total
of this crop are 259.000
tons to August 81, 1916, against l7s,.
600 tons last year.
New Revenpe 6lII
The administration tariff bill. in
Guiding the clauses for the protection
OF American trade from dumping at
the end Of the war, and giving the
president authority to take retaliatory
measures against interference with
American trade, was passed by the
senate on September S. The full text
OF the section relating to unfair com.
PETITION was given In our issue of
august 81.
Reouee Refined Prices
Quotations were reduced on We'd
nesday by practically all refiners to i
the 6.25c basis. and which basis Is
nnw In accordance with the raw value.
The price OF Graduated at 6.25c less
2 ner cent. which figures net cash
6.l25c, shows. with raw sugars at
; 02c, q margin Of l.105c. which is q
fair difference to maintain and allow
refiners to sell with some degree OF
profit.
AS we stated above. refined sugars
II s.25c look good purchase, not
from a speculative standpoint. but to
those buyers who have been holding
off and refused to accumulate any I
stock whatever. At this basis. 1t I
seems to us as IL the trade can buy I
steadily from day to day for their !
wants, without much chance of any {
loss.
Pennsylvania Sugar Company, in '
Philadelphia is points lower, under I
special conditions. than other refiners.
as 1t is now quoting 6.20c less 2 per q
rent. liz
Western Beet sugars have declined J
also and quotations are now basis U
S.0sc in Chicago territory.
The export business has shown Q
luite some increase in a number OF
'rnail-sized orders, and furthermore
has recently purchased a J
'uantity Of sugars. estimated as To- '
100 tons. The quotations for export B
sugar have been below that quoted for q