Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-01-05
Thinks DECLINE /.
INPRICE ISDUE
TO Sentiment
Czarnikow-R ionda Letter Holds
: That Statistical Position OF
Sugar is Very Strong

price of raw sugars in new York.
Czarnikow- Rionda Company, liz Wall
street, holds that the statistical posi-
ton OF the staple is very strong and
augurs well for very full prices for
the producer for the coming year.
The firms market letter of Deem
Der 10 follows:
Following the sharp rise in values,
which has extended over several
weeks, our market has recently de-
veloped slightly easier tendency,
with the result that the spot quota
ton yesterday declined IL cents per
pound to sos cents, basis SO degrees.
Transactions of the week have been
only moderate. aggregating 3UO0 IONS
Philippine Muscovados, from store, at
$50 cents. basis IS degrees, $50 tons
Mexican graduated at 4.l25- ceHts
in bond New York, and $500 tons
Cubas, consisting principally OF
January shipment at 1926 cents, CT.
(4.64 cents), some prompt shipment
at 4.125 cents CT. (5.14 cents), and a
lot of 5000 bags, due today. at 4.O6
cents CT. 1898 cents1.
Thinks Estimate High.
The statistical position OF the artls
Gle has not changed since our market
ruled so strong week ago. so per-
Maps the present easier feeling IS
mainly one of sentiment, arising from
the actual commencement OF grinding
I'm Cuba, together with the publication
On 9Th inst. of MIR. II. A. Himely's es'
innate of a production OF 3,175,0OO
tons sugar there this crop. In order
TO attain this forecast OF % per
cent Increase on Cuba's highest pre-.
vious production of 1857, 1872 tons, re-
corded last year. exceptionally favor
able weather conditions and a very
high weld OF sucrose would be impera-
tive. as the grinding capacity Of the
island. does not appear to have IN
creased at that ratio in the interim.
These, however, were factors which
had already been generally discounted
for some time past, and estimated OF
the worlds production during 1855
now indicating falling off of 100000
tons and 2,f00,0 600 tons from the re-
spectiye totals of the two preceding
campaigns augur well for very full
prices to the producer during the CON-
ing year.
con the other hand, available sup.
plies during the months OF December
and January are not OF sufficient vol
ume to adversely affect prices. stocks
in importers hands at the United
states, Atlantic ports have dwindled
to the extremely low point OF 93S tons,
rather a small quantity when consld'
ering the volume of trading in III.
lures constantly transacted on the ex'
change here, whilst stock in all hands
att hese ports is at present $500
tons below last years figures, the
combined stocks of Cuba, Atlantic
ports and New Orleans, plus the esti
mated afloats in this direction, give
a total $4,000 tons below the aggregate
quantity in similar positions at the
corresponding date a year ago.
such scant supplies, coupled with
much heavier exports from Cuba 10
Europe during December and January
than during same period last campaign
and taking into account pending ship
ments of American graduated to Eu-
rome. as well as the strong possibni-
ties of a further active demand from
that source in the near future, un.
doubtedly make for very SOUND SIT
uation at least for the pear future. SO
far as it is possible to judge from
existing conditions.
s.The recent publication OF official
United Kingdom figures OF imports 10
November 13 are very interesting, as
showing that total imports OF raWs
and refined since January l this year
fell $4,000 tons short OF last year
fmportations to same date, OF Whlcn
difference as much as 100000 tons con.
sisted of refined sugars. In some quar-
tiers these figures are accepted as con
firmation of general belief that next
wear United Kingdom viii require to
draw upon American refiners for even
a greater portion of their product than
the 367 900 tons which present figures
show as the total so far exported to
foreign destinations.
Continued inquiry from France Tor
Cubas this week resulted in the sale
Of 10000 to $1,000 tons for February
and March shipment, on private terms
while Russia has come into our mar
ket for limited quantity OF renneo.
However, business with the latter
country is especially difficult, owing
to the prevailing excessively high
rates of freight. In this connection
IL may be timely to remark that the
tonnage situation with Cuba has rap
idly become more acute, charters nav
ing already been made at 40 cents pei
200 ,,o,nr. for IoDuary lnadinR'