Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-03-15
ALLIES
SOON TO RENEW
SUGAR Buying
Any Tendency to Enter Mrket
in New York Sure to Make ] !
Prices Go Higher H..


That the Entente Allies are expect
ed soon to place new orders for sugar
! in New York and with Cuba, and that
any evidence of such buying move
ment will stiffen prices, is the opin-
ion expressed in the March 8 Sugar
Mar ket Review, put on. ny Nevers &
Callaghan of 80 Wan Street, New
! York. The review follows in full: -
The market has continued to dis
play a firm and advancing tendency
and during the past week a further
gan has been recorded of Csc. to the
basis of lac. basis SO deg. c., & T.
tJ.27c) for March and April shipment
Cubas, thereby establishing new
high level for this campaign. At the
OF ening of the week the market was
barely steady with moderate offerings
of March shipment CEbas at &c. basis
81 deg. c, & t. (5.G2c. j which found no
buyers, and Qait6 an accumulation Of
March shipment Porto Ricos which
were offered unsuccesSfusly at 1880.
q 1850. basis 96 deg. c. /. T., and
which gave the market temporarily a
slightly depressed appearance, as re-
finers, owing to heavy arrivals Of pre-
vious purchases and a lull in the de-
mand for refined, were generally very
Indifferent toward nearby sugars
Although holders of some 10000
bags Porto Ricos about due found 1t
necessary to accept 483c. basis SO deg.
C. i. T., concession of .06c. froml the
last previous price paid for such SUI
gars, sellers generally remained firm
In their views and offerings for distant
shipments from Cuba were especially
light. The market assumed q firmer
tendency because of persistent runors
that Europe was endeavoring to buy
a full line of Cubas for March, April
and May shipments OH an f. o. b. in
Cuba which greatly encouraged hold.
ers and brought speculative buyers in
to the market here, who paid &c. basis
SO deg. c. & t. for some $4,000 bag;
nearby Cubas and 4-16c. basis Sc deg.
c. & T. for about 10000 bags late
March shipment Cubas.
Quite an active business in Porto
Rieos then followed and local refiners.
paid 1880 basis 96 deg. c. /. +. for
March shipment to New York and
4,92c. q 4.95c basis 9s deg. c. i. f. for
March shipment to Boston. Outport
retiners also brought about $4,000 bags
Of a1oat and March shipment Porto
Ricos, prices Ringing from 1880. to-
4.92c. basis So deg. {. i 4, the, cost Of
transshipping to outports being borne
by the buyers. Holderssef CubaE then
-sucreededs IN obtaining; from reanersl
1-16c. basis 96 deg. &. /. T.. f5.0Sc.)
for about 100000 bags Cubas for
March shipment to outports, principal
~ to New Orleans and Philadelphia.
The frmer trend of raw prices
stimulated an active demand from do.
tnestic buyers of retired sugars and
made Unnecessary for refiners to add
freely to their ipples of raws. Some.
100 bags Of prompt and last half.
March shipment Porto Ricos were sc.
cured at 5.02c. tbasis SO deg. c. /. f, but
Cuban holders, after disposing of a
few parcels for prompt and last half
March ghipniens. at 4 1-Sc. and subse-
qtently at 4 3-16c. basis 96 deg. c. & t.
(5.20c.), took advantage of the ir-4
creased demand and raised their
views to 4 1-4c. basis So deg. c. & e
i5.97c.) for both March and April ship
ments. An active business at this lev
Ell then ensued, the sales thereat be-
ing estimated at close to $4,000 bags,
which absorbed all offerings put for
ward on this basis. :.
The market closes firm and prac.
tieslly bare of offerings, except for q
limited quantity, of April silipnient
which is held at 4 CSC. basis 96 deg.
c. & {. While refners DIS yet are un-i
willing to admit of any further adj
vance the appearance of any consider
able demand from Europe for either
raws or refined would undoubtedly 1
bring about a higher level of prices.
Whether or not this demand will
matefialize remains to be seen, but 1t
is generally expected that England
and France, who have not been buy
efs Of refined for some time past, viii
soon find It necessary to Renter this
market and resume buying refined SUI
gars in liberal quantities.
The weekly cable on Tuesday from
Cuba reported receipts of $4,000 tons
and 1Sl centrals grinding, as COM
pared to 109, 900 tons receipts and 173
cehtrals at work at the cores bonding
date last year. Today, 1873 centrals
are in operation and the drought con-
tinues.
"The advancing trend Of raw values
stimulated an active buying move in
refined sugars, and refiners we're Of
fefed a very large business ia 6;25c
less 2 per. cent, only part of which
they accepted before advancing on the
End insts to 6.S5c. less per cent, at
which basis all refiners are now firm.
The trading in options reached
total of 51,150 tons. Closing quota
ti0ns today are: March 4.30c. & 4S2c.,
April 1850. a 4s86e., May 1896. a
44gc., July 450c. q 4.51c. and Sep
TENDER 4.59c. "a 4.S0e.o