Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-08-11
PORTO RICO IS ?.
NEARING END Of .
l9I6SUGAR CROP

! (From CzarinkoW- Rionda Company.
NEW YORK. July PA compare
. ti.ely inactive market has prevailed
! curing the week. as will De seen from
! the list OF reported sales, involving
only 5l00 tons Cubas (of which about
5000 tons went TO operatorsl, $500 tons
Porto Ricos and $500 tons San Do
mingCs NJ. ~
On these small transactions prices
first declined 25c. per Id. On 18th inst.
when 5.125c. CT. t6.145c.) was accepted
for $4,000 bags Cubas, in port at New
York, but an apparent desire On the
part Of refiners to continue securing
supplies thereat resulted in rapid
recovery OF .125c.- per ID. from this
low level. operators on 18th paying
: csc. c. f. N627c.J for $1,000 bags
Cubas afioat -" ...-,. .-...
There has been noticeably less pres,
sure recently to sell Porto Ricos, but
while the last reported business was
at 6.27c. C. i. f., small lot is since
said to have changed hands at 6.14c.
c i. t. for shipment to. New Orleans.
Late advices from the island state that
there remain only about $4,000 tons
Of present crop sugars left Tor ex,
pert ~. -.
That our market should remain so
steady, despite the unusually pro-
tracted period of inactivity, and that
the occasional declines brought about
by distressed" parcels have not af-
fected the position of sellers, who con-
sistently continue optimistic as to va.
lues later in the session, proves most
ccnclusiVely the strong position of the
article !
Additional moderate sales this week
Of Cubas for foreign destinations
bring the quantity now pending ship
ment during July and August from
Cuba to Europe and South America !
TO figure in excess of 10000 tons |
In this connection it may be pointed
out that while the exports from the
Island to Europe as published in the |
regular weekly satisfies may not ap-
pear as heavy as had been anticipat- !,
ed, the apparent discrepancy, arises |
from certain sugars destined for !
United Kingdom or France being TEN.
porarily diverted to United States for !
refining purposes. OF course, as such
sugars will ultimately reach their
original destination, they must not be
enormously considered as available
for domestic requirements. !
The tone of the market at the close
continues steady, with only light of
ferings of Cubas in prompt positions
at 5.375c. C. +. t6.40c.l, with ready buy
ers at .125c. per Id. less, and operators
showing some interest at sale. C. I.
t6.43c)., With practically no contracts i
for August supplies at present out
standing with American refiners, there
seems every reason to believe and
expect that fair volume of business
in .Cubas for shipment should be con-
sumated in the near future AS the
bulk of sugars held by importers in
v arehouse here is in the hands of
exchange operators, and probably scat
tered among quite a number, it doubt
less would be difficult to secure even
a moderate quantity of these sugars
without materially advancing quota
tic rs for future deliveries.
Trading in sugar futures on the New
York coffee exchange has been very
active, and aggregate $4,000 tons for
the week. Today's closing bids of
July 5.27c., August 5.29c., September 1
$3.50, October 5.36c., November 5.25c.,
December 5.09c. January Alto, Feb 4
ruary ACC, March 4.47c., April 450c.,
May 4.53c. and June 4.57c. represent
net decline on the week of ole. to
.G6c. throughout the list. II
The receipts for the week at the
three Atlantic ports were 1856 tons.
compared with 47,489 tons last year
and 43,480 tons in 1914. ......: II