Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-01-21
REFINERS STILL
Indifferent TO
Low OFFERINGS
Breaks in Prices in New York
Due to Weakness of Porto
Ricos, Says Review

demand for their product, continue in
different to offerings. which has re
peatedly forced eager Porto Rican sell
ers to break prices. is the condition
summarized in the market letter put
out on January Z by Nevers & Cal
! laghan of SO Wall street, New York
Their review follows:
THE week opened with moderate
offerings of Cubas at 3 5-Sc for nearby
parcels, 3 1-2c for January shipment
and 3.Sc basis Sc degrees c. & f. for
! February and March shipments. Hold
ers of Porto Ricos were asking 4.515c
! for sugars for first half January clear,
ance and 4.45c basis So degrees c. & t.
for parcels for second half of Janu.
airy clearance. On account of the dis
appointing demand for refined sugar.
refiners continued, Indifferent as buy
ers and the market assumed an irreg-
ular and slightly easier tendency.
However, after sellers had modified
their views slightly, spectators en-
tered the market and their buying prin-
cipally, at 3 9-16c for Cubas afloat
and for first half January clearance
and at 7-16c basis So degrees c, & t.
for Cubas for all January clear ance,
cleaned up the offerings in these po-
sitions at these prices, and had a
steadying influence on the market.
Following these sales, although
holders of Cubas became firmer and
were not urging their sugars to any
extent, sellers of Porto Ricos became
impatient and a sale of 5000 bags of
Porto Ricos afloat at 4.45c was fol.
lowed by sales of about $4,000 bags
1890 and later by sales of about TO-.
600 bags Porto Ricos for clearance at
various dates in January at 4.33c basis
So degrees c. i. Fl, leaving further Of
ferings of Porto Ricos for January
clearance at 4.33c that could not be
sold at this price. The weakness of
Porto Ricos did pct affect Cubas to
any great extent, as holders of these
remained firm and following the trans
actions in Porto Ricos, spectators
again paid 7-16c basis 96 degrees c.
& f. for Cubas for all January clear!
ance and also bought one small cargo
of Cubas for clearance about Janu.
airy Is at 3 1890 basis Sc degrees e.
& f. -. ak
"At the close, refiners are still in
different buyers and holders of Cubas |
are asking 9-16c for sugar. for prompt |
clearance, 8 7-16c to 8 1-2c for Janu-
airy shipment and 8 3-Sc basis SO de-
grees c. & t. for February and March
shipments, and there still remains
about 10000 bags Porto fRicos on off,
fer at 1890 basis SO degrees c. i. f.
for January clearance. Buyers ideas
are generally 1-16c below these levels,
"The weekly cable from Cuba on
reported receipts of $4,000
ions and 109 centrals grinding, as COM
pared to $4,000 ton receipts and 70 ceE-
trails. grinding at the corresponding
late last year Today, 127 centrals
are in operation and the weather is
favorable for the growing crop. Messrs.
cable the production for
he entire island Tor the month Of
December as $4,000 tons, as against
1876 tons last year, and 10000 tons
n December, 1913. ~.~-
Refined has been quiet and I'M
changed at $3.50, less 2 per cent,
luoted by all interests, except the
Federal s. r. Co., who have been with
lrawn from the market on account of
being closed down, but who now an.
lounce that they will be ready to &C
;ept business on Monday at the mar
set basis then prevailing. Dealers
stocks of refined are almost depleted,
nut they are only placing orders on a
land-to-mouth basis, expecting an ad.
ustment of list prices to narrow the
1argin between raws and refined.
small orders for export have been
placed quite steadily from day to day.
he total reaching fair proportions, and
t is also reported that $4,000 tons
lave been sold to England. The de
ails of this latter transaction have
,ean withheld .&:... III