Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-05-27
new CROP JAVAS
FORCE SUGAR
! PRICELOWER
United Kingdom Secures Halt
Million Tons Which Tends :
= to Relieve Shortage .

That lower prices result from Eng
land securing Java sugars and that
the Cuba production has been consid-
erably lower than estimates are tyo
interesting statements contained In
the letter of CZarnikow Rlonda Com
pany OF liz Wall street, New York,
issued May 5. and which Is as follows:
At the opening this week our market
was somewhat affected by cabled ad:
vices stating that United Kingdom
had secured about 100000 tons new
crop Javas, the bulk of which should
be available for consumption from
next September onwards AS a result
Of this news holders displayed great
er inclination to part with their sugars
and on the I'd inst. accepted 5.315c CT
(6.40c) for moderate quantities Of
prompt and May shipment Cubas,
which were about evenly divided be-
tween refiners and operators. How
ever, upon more careful consideration
CT the probable effect that such an
important purchase might exert on the
statistical position of the article, II
quickly became apparent that even
this large quantity of sugar, a portion
of which will be needed by France,
would still leave room for additional
large purchases Of Cubas by United
Kingdom to satisfy consuming require
ments during the period preceding
the time when the Jayas will be act
ually available. And the necessity
for providing on this side for such
more pressing needs was clearly DEM
n6 hxyf ho oil of n =
atiyely large line Of Cubas for foreign
destinations subsequent to the above
reported deal in Javas.
Thereafter our market assumed a
stronger aspect, with refiners as well
as operators absorbing all of the
prompt and May shipment Cubes Of
tered at the higher figure of 5.50c CT.
f6.62c), in addition to which smaller
transactions in June shipment we're
made at 5.S25c c.f (6.65c). This
weeks total reported business con-
sisted of about 5000 tons Cubas and
$4,000 tons Porto Ricos. on which the
spot quotation was advanced .06c per
Id. to 6.52c. basis SO deg.
As a matter Of record It might be
here stated that 5.625c paid on Sd and
4th inst for June shipment is the
highest cost and freight price com.
manded by Cuba sugars since 1891,
when 6,0625c eff was obtained, and
at that time sugar was free OF duty
inf United States.
The market has continued steady,
with very limited offerings, at the
higher level of values. Further mod
erate transactions in refined sugars
fot export have been consummated
duetng the week at prices ranging be-
tween 6.50c and 6.60c in bond, free
on board steamer,
Is Of interest to note that COM
bl6ed stocks in United States and
Cuba ut present exceed those OF a
year ago by only 1880 tons. and with
nending heavy shinments from Cuba
to- Europe during the current month
twhich may exceed 10000 tons) and
a more rapid cessation of grinding
than occurred last year. 1t is quite
possible that the next few weeks may
witness a dwindling of these combin-
ed stocks to point even below the
corresponding figures of 1915.
Cuban Production.
Messrs. Guma-Mejer's crop figures
to April 80. 1916, compared with those
Of the two preceding campaigns, are
asTfollows:
, To- a