Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-11-07
SPOT QUOTATION
HIGHEST KNOWN
IN MANY YEARS
Buyers Are Forced to Meet
Terms of Producers to Sc
cure Needed Supplies
Especial Correspondence from NctCrs
90 LIa.hn 90 NN.alL 1880


& Galashaa, - Wall street
NEW YORK. y. y. Oct. aT.-Thr
market continued IFS gradually ad
Hancinr trend during the past week
and following fairly large transactions
N G,52e 6 l-2c basis 90 degrees &
I for Cubasl the spot quotation ad-
yanced .lSc 10 6.G5c ) 5-Sc basis %
degrees c. 4 I. Tor Cubasl, which price
was paid by ap outport reFiner for a
small cargo OF first half November
clearance CubaS ard subsequently, by
local refiner for a small parcel OF
Cubas for immediate clearance. Dur.
ing the month Of MAY this wear, Il
limited quantity Of Cubas for forward
shifment sold at > 5-Sc basis % de.
srees G. 4 {. CfG5cl, but il has not
been possible To sell spot sugars al
this price until the present time and
the ruling spot quotation OF 6.65c is.
the highest recorded in a great many
years. AT the close OF last week the
market apparently had been cleared OF
prompt CubaS at lie basis 96 de
erees c. & $500, but at the open,
ing of this week additional quantities
appeared at this price which were not
all accepted until. moderate export
business in refined was placed. where
upon refiners, principally to cover this
export business, bought about 125,O0O
bags of Cubas from store and for
prompt and first half November ship
ments on the basis of 1-2c basis So
degrees c. & f. thereby again clear
ing the market of all prompt Cubas
available at this price. At the same
time, refincrs also bought several
small parcels of full duty-paying sug-
ars from store and afloat at lac
basis % degrees lin bond" and &C. l.
f. Following these transactions, buy
ers continued willing to pay Size
basis sc degrees C. < {. for Cubas
in any position. but only succeeded i'm
securing small Quantity for straight
November shipment at this price, as
holders Of prompt parcels raised their
views TO j ;j-Sc basis 96 degrees c. "a
f. (6.6Jc1 Holders of II. 900 bags o.
afloat and prompt shipment Porto Ri
cos accepted 6.52c basis SIC degrees
c. l. f.. which price had been pre-
viously unobtainable for such sugars.
Towards the close of the week holders
of a limited quantity of Cubas succeed
ed in obtaining ) 5-Sc basis 96 degrees
c. & f. (6.65c) but there arc still mod
crate quantities Of store and prompt
shipment ClIbas still on offer at this
price. The market is quiet at the
close with buyers temporarily holding
back but with sellers very confident
and firm in their ideas.
During the week limited business
has been done in new crop Cubas ON
the basis of Lie basis 96 degree C..
& t. for first half January shipment in
combination with equal quantities for
first half February shipment, the full
particulars being withheld.
The weekly cable from Cuba on Oc-
tober % reported no centrals grinding
and no receipts. Exports amounted to
39,646 tons, reducing the stock at ship.
ping ports to 1856 700 tons, as compared
to 213, 900 tons last year and $4,000
tons in 1914 Messrs Wil1ett & Gray
report for the week ending October %
receipts at L. S. Atlantic ports AZ, rs
tons and MEETINGS for the same period
$1,000 tons, thereby reducing the total
stock in all hands to 1852 tons. as
compared to 211 SEQ tens and 100000
tons at the corresponding dates in
1915 and 1914, respectively.
AT the opening OF this week all re-
finers we're quoting refined on the
basis OF f.50c less 2 per cent, excepting
the Warner S. r. Co, who were tenn
porarily withdrawn, but who subse-
quently reentered the market quoting
750c less 2 per cent on hard grades
with a concession Of 10 points on soft
sugars. During the week the Federal
S r Co. advanced prices TO 1900 less
2 per cent and later to 7.75c less 2 per
cent. The National s. r. Co., Warner
S. r. Co and Arbuckle Bros. all adj
yanced to 7.60c less 2 per cent, but the
American s. r. Co has made no
change from 7.50c less ? per cent.
The trading in options during the
week reached total Of $4,000 tons.
Closing quotations today are: No
vember j.47c and 5.4gc.. December
5.21c and 5.22c, January 1850 and
467c. February 4.36c and 4.37c, March
ABE and 4.35c and May 441c and