Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-12-14
REDUCE PRICES
TOSUIT BUYERS
Especial Correspondence Neyers
Cailaghan. 80 Wall Street,

Especial Correspondence NeNeFS &
cailaghan. 80 Wall Street,
NEW YORK, n. ", Dec. 1.-The
market continued in a very depressed
/ condition throughout the week and
on extremely light sales the spot quo
iation has been further reduced 10
; SIC, decline Of .24c from last
weeks close
Following sales 10 a local refiner OF
several small pracels OF Pernxians in
port ait 4Ssc basis 90 degrees &. i. +.
(5sScl, at the close of last week, adj
ditional moderate offerings of Cubas
and full duty paying sugars appeared
al this level at the opening Of this
week. Refiners. however, owing to
continued inactivity in refined sugars
we're unwilling to add TO their stocks
of raws and were withdrawn from
the market A further easier ten
dency therefore ensued and holders
of sugars in Very nearby positions. in
order 10 attract buyers, began to again
gradually reduce their asking prices,
until Cubas in port and for prompt
shipment appeared at 45sc basis So
degrees c. e. f. (5.64c) and full duty
paving sugars afloat and about due
were offered at this equivalent, t3sc
basis SO degrees c. !. (. When these
levels were reached refiner accepted
one small parcel of $4,000 bags Cubas
in port at 45sc basis 80 degrees C. &
T., which marked the first sale OF Gu
ban sugars since November IA, when
81 &c basis SO degrees C. 4 f. was paid
for 10000 bags Cuhas for immediate
clearance. Refiners also accepted
about 5000 tons OF full duty paving
sugars in very nearby positions at
4Ssc basis SO degrees c. T. f., but re.
fused 10 continue as buyers at this
basis for full duty paying sugars or at
4ssc basis SO degrees C. & I. for Cubas,
and consequently there still remained /,
moderate quantities of both Cubas !
and full duty paying sugars unsuccess-
fully offering ut these prices. Holders /
of one cargo of Ciibas that arrived in |
port unsold during the. week ordered !
same into store rather than press /
these sugars for sale. and when it be- |
came evident that the market was re- /
sisting further declines an operator /
accepted what appeared to be the only |
remaining parcel of Cubas offering al ,
45sc basis SO degrees c. & f. This |
buying had the effect of checking anY I
further immediate decline and gave I
the market an improved tone, as sell !
ers are showing less disposition to
force sales, and a rather better de /
mand for refined appears to be close
at hand.
Although local refiners have shown I
no interest this week in offerings Of
new crop Cubas, still some additional /
Small business has been put through
during the week with operators a.
3.50c basis 96 degrees f.so. b. Cuba
for March loading, and at 4hc basis
SO degrees c. & f. for January ship,
ment to New York 1t is understood /
that further business is possible ut
these levels but Cuban holders gen
orally entertain somewhat higher
ideas, and apparently no considerable
quantity could be bought under 3.S0c
/. o. b. Cuba for January February
or March loading or under 4Ac basis
SO degrees c. & f. for January, Feb
ruary or March shipments.
The refined market continues dull
and uninteresting All interests con-
tinue prices for graduated al 1.50c
less 2 per cent, but such domestic or
lers that come to hand are mostly
cared for by second hand sellers at
1.25c less 2 per. cent, regular refiners
terms. Distributors and manufacture
ers are generally very low in stocks.
but are holding off buying, except for
absolute daily requirements. in antici-
patton of the readjustment OF refined
prices to conform to the lower mar
xet for raws. Export inquiry con-
.inues light but there are slight evil
iences at the close of the week of
;ome revival of export demand for re-
lined at prices in line with present
ow levels Of raws.