Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-03-01
MARKET BAREOF
CUBAN OFFERINGS
Twice in week
EngIand's Reduction Of Re-
quirements Offset BY Entry
e of Other Countries

| w SstISt@ SONtNSt tSo
Twice during one week all offered
: Cuban sugars were cleaned up in New
York. according to the Neyers o. Cal
I laahsn market review published Feb
rnary rs at 90 Wall street New York.
/ This firms market summary follows:
''The satisfactory adjustment. earlv
in the week. OF the labor strikes and
! the CONSEQUENT resumntion of work at
the lncal refineries. stimulated bet
ter feeling in the market. and holders
who had been offering Cubas for Feb-
rusry End March shipments at 8 1916
basis 96 deg. c.&f Immediately ad.
vaneed their views to 8 7-Sc basis 96
deg. c.&f.. or withdrew their offerings
altogether. Sneculators then entered
the market and although they obtain
ed about $4,000 bags Cubas afloat at
3zc basis SO deg. c.&f.. holders re-
fused to accept this price for further
parcels and raised their asking price
to &c basis SO deg.~c.&f
"The firmDess of holders of raws
inspired confidence with the refined
trade and the increased business in.
graduated for both domestic and fors
eign account forced refiners to enter
the market for additional raw SUD-
plies, their purchases amounting to
about 100000 bags of Cubas for Feb
ruarg, March and April shipments at
&c basis 96sdeg c.&f.. and including
about $4,000 bags Porto Ricos for Feb
ruary and March shipments at 4.77c@
4S0c basis a6. deg. c.&f., and about
$4,000 bags San Domingos for March
shipment at 15.16c basis So deg. c.&fs
These purchases entirely cleared
the market OF all offerings Of
Cubas at the moment and such fur
Their parcels as later appeared for
February. March and April shipments
at &c basis 96 deg e.&f were readily
taken bv local refiners while for Feb
ruary, March and April shipments at
4c basis 96 deg c.&f were readily
taken bv local refiners. while an outs
port refiner paid 4 1.fec basis 90 deg.
c.&f. for cargo of Cubas for April
shipment At this period some 81. 900
to 10000 bags Porto Ricos for Febru-:
airy and March shipments were also
taken by local refiners at 4S9c basis
So deg. elf.
= IS Z
THE large transactions in raws in
spired spectators with further conf
denee and caused them to reenter the 4
market, and following purchases by
these buyers of about 10000 bags Of |
Cubas at alice for February A 1-32c'
then 1-16c for March and 4 1-16c then
41-Sc basis So deg. c.&f. for April ship
ments. refiners. on account of addfSi
tional export orders being placed for
refined and the continued demand fort
grannlated from the domestic trade. I
again became buyers and purchased |
about 100000 bags Cubas, principally
for April-May shipments at 41kc basis
SO deg. c.&f.. cleaning up all offerings
In these positions and only leaving a |
few small parcels of February and |
March shipment Cubas for which
7 1-16c basis So deg. c&f. was being
asked.
The announcements made by the |
British Commission during the week |
that England intended reducing her
1916 supplies of sugar about 100000 |
tons, did mt have any appreciable eff
feet on the market, as fairsized or
ders had been recently placed for re-
fined here as well as for raws I. o. b.
Cuba by countries that have never
before used these sources of supplies.
The weekly cable on Tuesday from
Cuba reported receipts of 127, $40 tons
and 176 centrals grinding, as compar-
ed to $4,000 tons receipts and 1863
centrals at worksat the corresponding
date last year TODAY III centrals
are in operation and the weather is
favorable.
The activity. In raws at the OPEN
ing of the week induced q fair volume
of new orders for granulafed from
the domestic trade which, coupled with
the general inquiry for refined for
export. forced all interests to advance
their list price for graduated from &c
less 2 per cent to 6.10c less per cent.
The advance failed to check the bust
ness and as the orders. both foreign
and domestic, increased and raws be-
came firmer, refiners found 1t expe-
dent to again advance their list pri-
ces to 6.25c less 2 per cent, at which
basis all interests are now firm and
even showing reluctance to sell buy
ers who still have sugars due on old
contracts. All refiners are more or
less delayed from one to three weeks
on shipments Of refined.
The trading in options reached a
total of $500 tons during the week.
Closing quotations today are: Febru-
AIRY 413c@416c, March 4.09c@4.15c,
May 4.lSc@420c, July 4.27e@429c,
August 4.S1c@4.3Sc, September 4,a6c@
4.3Sc."