The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1916-06-02
PRICE REM|||A|NSUP
BUT NO TRADING
t5t5E : q ltttA /
Buyers and Sellers Play a Wait
ing Game, and Market
ColorlesS


York were limited, Wilet 3 Gray in
their report for the week ending May
IS stating that only 5O.55,000 bags
changed hands. San Domingos and
Porto Ricos sold on the 6 to 8.25 basis
Cubas at GAO. No transaction was re-
ported in the market from May Q to-
May IL. Il
Only so Cuban centrals were grinding,
against l23 to previous week, 154 In
1915, and 80 in 1914. -
Market Is Slow
In part they state that stocks in the
United States and Cuba together were
l,l32,977 tons, against l,ll7,82l tons
last week and 1873, 229 tons last year, a
decrease of $3.50 tons from last year.
Last week hesitation was shown to
the advance in prices being carried fur
Their at present
The same hesitation" continued
until May II, when a cargo of Porto
RieOs was sold to Boston at 6.28c, or
say, making eleven days since a sugar
transaction had been reported in the
lmarket. Such circumstance as this
can occur only under most unusual con-
Editions, such as plenty Of ready sup
lplies in refners' stock and plenty Of
IprOfts in sellers pockets, to enable
Iithem to be, for n time at least, indie
tpendent of further selling.
How long this extreme dullness 70
trade may continue is hard TO say, or in
whose favor, buyer or seller, 10 will
Eventually end. As in the case with the
Porto Ricos, it appears natural that
some seller of Cubas will be found to
make a concession when buyer appears
ready to buy.
Thus far only intimations are
thrown out that at 6.40c for Cubas the
next business in these sugars may be
put through. At the close market
fluctuations are lower 6.40c for afioats
and prompt shipment, and csc for
June shipments, with the outlook fav-
Oring a decline in prices rather than
advance.
Labor Troubles Continue
/ Porto Ricos sold May 1S at 602c
for prompt shipment. A renewal of
advance later is by no means an i'm
possibility, provided Cuban holders so
will it, be remaining firm and Offering
lightly until buyers require fresh snp-d
plies of raw sugar. All sugar business
at the moment, in both raws and re-
fined, is reduced to the hand-to mouth
basis, which sometimes proves danger.
Gus to both interests, and may prove
so now while necessary supplies from
any other sources than Cuba are still
IA long distance into the. future
i The U. 8. beet sugar crops, due after
July, are the first real competitors
against present sources of supply.
i A disturbing factor of the week is
the labor and river strikes, which have
made difficult the moving of vessels
and cargoes in the harbor, and these
are not yet overcome.
Cuban Business
The figures for the week ending May
Is give receipts of lO5,229 tons,
against 100000 tons for same week !
last year. The total exports are some
what larger, at 97,S42 tons, of which
an increased amount, 1884 tons, are
destined to the U. 8. Atlantic Ports
and 1000 tons to New Orleans; $500
tons to Galveston and 22,35S tons to
Europe. Stocks are further increased |
to 942,333 tons, the highest point 50
! far.
Visible production to May ID has
passed the two and one half million
mark, standing at 2.56S,946 tons, com,
pared with l,994,092 tons and 2,l24,
1928 tons to corresponding dates of the
two previous years. The Centrals that
continue grinding $50 on the fifteenth,
are about commensurate with those of !
wo years ago, when 90 were grinding |
at this time.
| 100000 Tons Sure
Market opinions for the future ara
| .Iannn1pnf INIT ha
final outturn of the present Cuba crop,
so we give herewith the statistics as
we view them: Cuba has produced so
far visible of 2,568,946 tons, with
Centrals still working amounting to
about the same number as those of |
1914, but with undoubtedly larger |
inVisible stock existing on the plan |
.tations in the Island at this time than |
two years ago. II may safely be taken
that at least the balance of product
for this crop will equal that of 1914, |
'ay 472,904 tons. Adding this figure
to the present visible production, we
have 3,O4LS50 tons, so that u three
million ton crop seems almost Ger
tainty. Weather during the week has
been unsettled with rains in the
Eastern Provinces. Latest Cable I'D
vices state torrential rains have oc
CURED in Eastern Provinces, with light |
and partial rains in Western Pro
Vinces. On May IT,, so Centrals were
grinding.
Miscellaneous Matters
Regular monthly Java cable reports
$4,000 tons shipped to the United
Kingdom during the month of April
while $1,000 tons were exported to
Oriental ports, The earliest shipments
to Europe last year were in June,
when 10000 tons were shipped. This
years shipments may ibe expected
to be large each month now to com
plete the United Kingdoms purchase
OF 100000 tons.
A report was received here by mail
that the Royal Commission of Eng
land had purchased some $50 900 tons
of Java crop, harvesting of which be-
gins May, 1917, but upon inquiry
cable was received by us stating that
the United Kingdom had purchased
no JaVas from the above mentioned |
crOD hut that all their Jayaa houUht '