Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-02-10
ALLIES TAKING
Refined SUGAR
ON BIG ORDERS
indications Are That Refiners
Will Not Be Comfortable for
Some Time to Come

That the Entente Allies are buying
sugar al an immense increase over
the rate Of their purchases last year,
and that the low stocks on hand will
take a long time to accumulate suffi-
GENTLY to put the refiners in a COM
Portable position. are two opinions ad-
vanced by the CZarnikow- Rionda Com
pany OF l12 Wall street. in their Mar
ket Review of January q, which fol-
lows:
The past week has been the most
active one experienced thus far this
campaign. After refiners on Satur-
day last had taken whatever small
quantities of Cubas then available at
3.50c CT (4.515c) February, and 3 SIC
CT. (4.4Sc) January shipment, increas-
ed strength attending the opening on
Monday, 18th inst, was quickly re-
Elected in small sales of prompt clear
ing sugars at 3.59c CT. (461c) and of
January shipment at .06c advance to
3.625c CT. I4.64c) Thereafter. very
large volume Of business was done
with refiners for shipment during
January. February and March at prt-
ces which by the 18th had advanced
to 3.75c CT. t4.77cl, on which date op-
orators paid the even higher level of
3.Stc CT. t4S3cl for sugars afloat. The
total reported sales closely approach
100000 bags of Cubas, a limited guam
tity Of early February Porto Ricos at
4.33c on 18th and 4.64c elf, on Goth,
small parcel Of San Domingos afloat
at 3.44c elf. and 5000 tons of Philip
pines at 3,70c, basis So. to Philadel-
phia. Porto Rico has been only a
moderate seller lately, it being re-
ported that labor troubles in the is
land are retarding production.
The sudden development of such
unexpected strength in raws, preclud-
ing the possibility of any early reduc-
ton in prices of refined that might
have been previously anticipated, the
domestic trade decided to immediate
ly protect at least a portion of their
requirements by placing fair amount
of fresh business with refiners, an
action which, coincident with a recent
moderately active business in granu-
lated for export, induced the above
mentioned generous purchases by our
Tefiners, on which the spot quotation
was advanced .255c per lb. to 4.77c,
basis 60.
Low Stocks at Ports.
I'm view of present unusually low
stocks of 5S,7S6 tons at the Atlantic
ports for this time of year, and with
a possibility of shipments from Cuba
proving inadequate for the much heav-
Ter MEETINGS already in sight, as com
pared with corresponding period in
former years, some time will have to
elapse before stocks here have again
accumulated sufficiently to put re-
finers in a comfortable position
1T is generally believed that a
comparatively large business in Unit
ed States granulated, has been closed.
recently with United Kingdom,
France and Norway, on private terms,
estimates of the aggregate transac-
tions of this character for shipment
during January March being now well
in excess of 100000 tons. These fig
ures indicate an enormous increase
on the total of 29,714 tons of refined
sugars exported to foreign destina-
tons in the same period of last year.
Refiners MEETINGS during the first
quarter of this year should therefore
not only be increased by that differ
ence, but also by whatever excess
over last year will be needed for do
nestle consumption In this connec-
ton account should be taken of a
somewhat curtailed domestic demand
early last year during the absorption
of stocks accumulated in the fall of
1914. and also that invisible supplies
are now probably much smaller than
was the case year ago.
Trading in sugar futures on the
New York Coffee Exchange was ex-
active this week and am
ounted to $3.50 TONS Today's clos
ing bid prices of January 3.77c, Feb
ruary 367c, March $3.50, April 3.71c,
May Bite, June aisle, July 3.S6c,
August 3.S9c, September 3.93c, Octo
Der 3.95e, November 3.97c, and De-
$3.50, show net advances on
the week of .1Sc in January, .26c in
February and .22c to .24c in all other
deliveries. ..... ....a.#
THE receipts for the week at the
three Atlantic ports were 37,700 tons,
with 32,577 tons last year
and 22,776 tons in 1914"
III