Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-05-15
DEEHERIES0F
SUGAR QUICKLY
CARRIED away

That there are few offerings of re-
fined sugar and a steady demand for
both refined and raw, thereby giving
a sound foundation to the market are
statements contained in the Market
Review OF NeFerS K Callaghan OF 50
Wall street in their sugar market re-
view recently which is as follows:
The market continued its upward
trend during this week. late sales Of
prompt shipment Cubas az > T-l6C SO
deg. basis C.&f.. csc showing 5-16C
advance over the spot quotation at the
close OF last week, and establishing a
new high level for this campaign. The
general situation seems thoroughly
sound and the steady rise in values
can be chiefly attributed to the per
sistent inquiry by Europe for refined
sugar for export and raws fob. Cuba.
the desire of the local trade to extend
their purchases of refined and the
constantly increasing prices which
spectators have been willing to pay
for raWs. To these most important
factors may be added the rapid end
ing of the Cuban grinding season and
the limited tonnage available for ship
ment Of Cubas to Atlantic ports. Fur
thermOre, Cuba has already sold suf-
fiCient sugars to make firm position
possible. At the opening of the mar
ket, after the Easter holidays, offer
ingS of Cubas were extremely moder-
ate at SIC basis 90 deg. c.&f, and
sales of about $4,000 bags for May
shipment to refiners and operators at
this basis cleaned the market of all
offerings at this price, and holders
Immediately advanced their views to
5 7-16c and ) 12c basis SO deg. c&f. for
Cubas and 6.02c to 6.14c and 6.21c
basis Sc deg. elf. for Porto Ricos.
Around these levels an irregular mar
ket resulted and sales were effected
on the same day to local refiners of
two separate parcels of Porto Ricos.
both for April shipment, at 6.14c and
then 6.21c basis sc deg. elf, while
following sale of a cargo of Cubas
for April shipment at sac basis 96
deg. c.&f. to refiner,. operators paid
5 7-16c for cargo lots and 512c basis
Sc deg. c.&f. for smaller parcels of
Cubas for May shipment, these buy
erS also securing 10000 bags Cubas
for June shipment at size basis 96
deg. c.&f. An outport refiner then
paid 6.2Sc basis Sc deg. elf Boston
for cargo of Porto Ricos for April
These sales did not take
care of small accumulation of near
by Cubas that were still offering at
5 7-16c basis Sc deg. c:&f. nor of fur
Their offerings of Porto Ricos for May
shipment at 6.27c basis Sc deg. elf,
and on account of the indifference be-
ing shown by local refiners, the mar
ket hesitated slightly. However, upon
the receipt of a cable from Messrs.
announcing heavy gener-
al rains in Cuba interfering with
grinding operations and further re-
duction of the number of centrals OPP
Grating, coming in the wake of news
from Washington that President Will
son had signed the bill repeating the
free sugar clause OF the tariff act, the
market suddenly assumed a firmer as
pect when refiners paid the asking
price of 5 7-16c SO deg. c&f. for Cubas
afloat and for April shipment, 5ac
basis Sc deg. c.&f. for Cubas for May
and June shipments and 627e basis
elf. for Porto Ricos for May ship
ment, clearing the market of all of
ferings Of both Cubas and Porto Ricos
at these levels and leaving only few
scattered parcels of Cubas for May
shipment still offering at size basis
Dc deg c.&f. 49,.
The weekly cable on Tuesday from
Cuba reported receipts of 1926 tons
and 162 centrals graindinog as COM
pared to $4,000 tons receipts and 176
at work at the corresponding
late last year. Today 1913 centrals
are in creration and the rainy season
has commenced.
The higher market for raws and
he continued efforts of Europe and
he domestic trade to obtain granulat- |
I'd, caused refiners to successfully |
ADVANCE their prices during the week. |
Until at the close Arbuckle Bros, Fed |
eral S. r. Co. and the Warner S. r. |
20. are quoting 7.50c less 2 per- cent, |
Ind all others 7.40c less per cent |
is against closing quotations of last !
week of 1850 and 1900 less per cent |
Refined for export is quoted at 6.50c |
o 6.55c net cash in bond. fob, on
which basis some few small lots have |
,een sold during the week.
The trading N options durirs the
week reached 2 totaI " 19,iuC ton, |
losing quotations today arr. 2.ay |
.42c and 5.45c, June 5.4Sc AMI ! SIC,
uly 5.52c and 5.55c, August soc AMI |
sic, and September 5.5Sc and $500.