Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-08-29
And
UNCERTAINTY
in SUGAR seen
Mid-August Conditions in New
York Market Not Very
Satisfactory
Especial Correspondence Movers &
Callaghan. 90 Wall Street,

Callaghan, 80 Wall Street, 7
NEW YORK, n. Y. Aug. 1S.-A
dull and uncertain market has pre-
vailed again this week, the limited
transactions reported showing some
iFregularity in prices as compared
with these ruling at the close of last
week. inasmuch as sales of Cuhas
have established lie advance in quo
tations, while sales of Porto Rieos
show a decline CT .2Tc under previous
sales OF these sugars made last week.
Following a sale made at the close Of
last week OF one small parcel of
Cubas from store at 5.64c, basis SO
degrees duty paid, establishing q de,
cline of he, further moderate offer
ings Of Cubas appeared at this basis
from store and at 4ssc basis 90 de-
grees c. & f. in nearby positions with
cut finding buyers. Some recovery IN
the option market and the weekly
cable from Cuba on Monday reporting
extremely light exports. $1,000 tons,
to u. S. Atlantic ports, and which was
Interpreted as a bullish factor, caused
holders to Immediately advance their
ideas and an operator paid 5.f5c basis
So degrees duty paid in order to So.
cure 5000 bags of Cubas from store
for use in an option transae ION. Al
though further moderate offerings OF
Cubas in port, afloat and for ship
ment we're in evidence at the time at
4&c basis 90 degrees C. & f., sales
could not be effected at this basis, as
refiners were practically withdrawn
from the market and operators were
rot disposed to bid over 44sc basis
g6 degrees c. & {. for further parcels
of Cubas. Notwithstanding this con
dition, holders of anshipped Cubas ap-
reared to be very confident and re-
NAMED firm in their asking price OF
4Ac basis SO degrees c. & (. for An.
gust and early September shipment
Their confidence was not shaken un.
til refiners succeeded in obtaining al
5.50c basis 97S degrees C. i. f. abont
5000 tons OF Philippines and Porto
Ricos arrived and about due, that
we're being pressed for. sale, and a
few odd parcels of full dlityspaying
sugars in port at 415e basis 96 de-
grees c. & f. Following these sales
some Cuba holders began to weaken
below the 4%c asking price and
limited quantities of .Cubas in nearby
positions were unsnccessfuly offered
at 4ssc basis SO degrees C. 4 /. he
market closes dull with refiners bid
ding only 4hc-96 degrees C. & f., for
Cubas,s s..f.,e. Z 81, 49,. T.. j..
The weekly cable from Cuba on
August Ia reported five centrals still
grinding and receipts CT 640O tons.
Total exports amounted to $4,000 tons.
of which only about 10000 tons were
destined. for u. s. Atlantic ports. 1t
lis estimated that !. the shipments IN
the same direction next week will net
exceed 5000 to 10000 tons. and should
this prove to be the case the de-
ficiency in receipts as compared 70
MEETINGS here will make large inroads
in fefiners light stocks. Today five
Centfais are in operation and the
is reported as favorable for
the growing crop. #.
Early in the week B. HI. Howell, !
Son & Co. reduced prices on granu.
lated from Use to &c less per cent, !
y llich cut was promptly met by the
American S. R. Company and Ar
buckle Bros The Federal and War |
ner s. R. companies remained uI- |
at 7.25c, less 2 per cent. The
reduction to the &c basis less 2 per cent |
Jailed to stimulate any important buy /
ing as the trade is understood to he !
fairly shaken by the unsettled de- |
veiopments in the raw situation.
= Trading in options during the week |
reached an aggregate of 5O,350 tons
and closing quotations today are: Sep /
tember 4.70c@4.72c, October ASSOC |
1850. EaDecember 445c6447c, Jar
tary A5c@4.19c, March 401c@4g3c,
May 4.10cd412c. ...-s,.. --