The Hawaiian gazette., 1916-03-03
REFINERY STRIKES
ARE At AN END
= Buying Resumed On Large Scale
r. At New YORK according To .
q. ~ y .lWihett { Gray

During The week ending February ~,
Willett q Gray report sales Of about
100000 bags cubas for February, March
and April delivery and 5000 bags Porto
Ricps, in port.
Stocks in the United states and Cuba
together was 3g2,06I tons, against 357r
Gal tons last week and 366,645 tons last
year, an increase Of 25,4l6 tons from
last year. 49, y o.
Last, week the quotation for Cuba
Centrifugal sugar was 4.S3c per To-,
duty paid, with rather easier tone due
70 the labor strike situation, which hal
closed down two fefneries and threaten
ed to extend TO others. -. i
Fortunately, however, the strike was
limited and satisfactory adjustment
made, 30 that the reineTies resumed OPP
erations on Monday and Tue day of
this week. -. -.
Buying WAS Urgent
This renewal Of business caused quite
ayeomplete change in the market condi
tions for both .raws and refined, buying
for, supplies became urgent, and sellers
eorrespondingly reticent and but little
business, resulted during a quick rise
from 4,S3e TO 5.02e per ID. p. b.. +
At the latter price, however, there
were free offerings of February March
and April shipments, and on Tuesday
some 250,000 bags Cubas Of these
months were taken by refners at AZ
c. 4 T., 5.O2c, duty paid, raising the
market quotation to 5.02c per ID. Buy
ing continued by re6ners at this has :
on Wednesday, inereasing the total to
100000 bags, Operators on the same
day paid 5.O5e for March and 5.OSc for
April.
The market continues strong, sa'eo to
operators advancing the market to
.50Sc for, prompt and March and 5.l4e
for april shipment. Porto Rico free
duty sugar in port sold at 4.7Oc on
Monday, and later at 4.S9c.
Cuban Ports oongested
The weekly cabIed figures were rath
er buIlish again this week. Receipts
for the week ending February II, al.
though amounting TO the good sized fig.
ure Of 127, $50 tons, were 5000 tons less
than last week 8 receipts, which is un'
usual during this, the period of increas,
ing production.
Exports for the week, continued about
the same as previously, being $4,000
tons, total, of which 1882 tons are des
tined for Europe, and, according to Mr..
Timely, $500 tons to New Orleans, leav-
ing 6S,888 tons for the United States
Atlantic Ports, being sufficient to COW
er refners' requirements, but allowing
but very little accumulation towards
filing up depleted United States raw
stocks.
stocks In strong Hands
Stocks in Cuba, being . in strong
hands, are increasing steadily, amount.
ing, on February IL, to 297 1885, tons,
against 81 900 tons last year. 'Centrals
grinding on February Ia were 176, com.
pared with 1859 last year. Visible pro
duction to February IL was IN 1877
tons, against 472,S4S tons and 500 ,903
tons to corresponding dates of the two
previous years. The weather during the
week has been reported as favorable
Che. few, rains that occurred in some 10
calitias last week, were very acceptable
after the long period of dry weather
that has prevailed.
England Restricts Imports
Referring to the cable received by
us from London that the British gov.
eminent has announced the intention tt
restrict sugar imports, we have had an,
other message this week stating that
the supplies for 1916 were to be re,
duced by 20 to G5 per cent, or say about
400, 900 tons. AS the consumption OF
the United Kingdom for the calendar
year 1915 was 1851 ,066 tons, this de
grease Of imports Of 100000 tons would
Indicate a consumption of 1915 Of from
l,450,O0O tons to 5000 tons, as Eng
land imports all sugar consumed.
Other cables state the French gov
eminent have also decided to reduce
that country will be made in cOnjunc
A Matter Of Exchange
The British Commission is under ne
gotiations for the purchase of early
shipment (May-June;July) Java sugars
bat little progress IL making, as the
difference in exchange Jis considerable
The Java holders wish to sell in Guild
ers and the Commission wish to buy II
Sterling as usual, but the exchange
fluctuations and attendant risk are in
terfering with business.
( Cabled reports to the press seem u
indicate that the restriction on import:
apply not only to sugar but to many
other commodities.
The imports of some articles are en-
tirely prohibited.
European Market
The French government bought re
Gently 10000 tons new crop Javas Char
vesting beginning May, 1870, at 20s f
oh. Java, shipment June-July. Foreign
Granulated il selling at 70 francs, Will,
French No. 3 Crystals are valued at Is
francs, q!
Holland has increased the price to be
paid for beets in 1916 considerably, an(
are now paying $9,45 per ton, with in
creases for early deliveries, but even
at these fancy prices the farmers are
not contracting heavily to grow beets
Refined is selling in Stockholm a
pc nar LII