Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-01-08
PRESSURE FROM
PORTO RICANS
LOWERS Price
Drop lust Prior to Xmas Helped
Along BY Temporary Clos
ing of Refineries

! That the urging for sale OF an acc.i.
I mutation of Porto Rican sugars,
coupled with the fact that three CT
( four refineries we're aboutsto close
I temporarily for repairs. caused the
! drop in price of sugar just before
Christmas. is the cIihirn expr"sse1
/ in the following sugar market review,
published December "a BY Neve-s 4
+ Callaghan, OF 80 Wall street New
York = .:'- -. = - r..
The market has been comparative
( ly inactive during the past week with
only small transactions recorded. Al
/ the opening, the tone was very firm
/ with only small offerings from Cuba
/ In evidence, and an advance of .0.c
! was established on sales to specula-
\ tive buyers of some 5000 bags prompt
! shipment Cubas at 7-Sc basis e6 deg.
/ C. & (: (4.S9cl Subsequently. refinerS
1 paid the same price for some small
4 parcels In port in order to exc out
supplies prior to the closing down of
/ their factories for the annual repair
work. For a time the market re
manned very strong and owners of a
cargo of Cubas which arrived in port
/ asked &c basis sc deg. C. & f., (502c1.
and finding no buyers ct this basis
/ finally ordered the. cargo into store.
Holders of Cuhas for shipment were
asking 8 7-Sc for December. 9 3-4c for
| first half January, 9-16e for last half
January and 716c basis SO deg. C. e.
II. for first halt February shipments
Speculative buyers bid SIC for first
half January clearance without secur-
ing any sugars r.. j. .%s.:..
THE light demand for refined. cou-
pied with the approach Of the Christ
mas HOLIDAYS and the fact that three
or four refiner:es are about To he
closed down temporarily for repairs.
made refiners extremely Indifferent
buyers, and sellers gradually modified
! their views as offerings showed some
Increase -: '..~.
IAN accumulation Of Porto Ricos for
December and early January shin
ment, which were urged Ior sale, met
with very little demand and owners
found it necessary t. lower their
price to 4.515c basis 96 deg. c. /. [. in
order to find buyers for some $4,000
bags December clearance parcels
Even at this basis buyers refused
some 10000 bags OF Porto Ricos for
first half January shipments. Follow
ing the sales of Porto Ricos, holders
Of Cubas accented 3 &c basis IS deg
C. & f,s.f4.2fr) for 5000 bags FOR Feb.
ruary shipment. The market closes
dull with little interest DISPLAYED by
refners and with Cnbas offered at
8 $40 for pecem ber, g s5,Se for ffrst.
han ana at 3 S.Sc basis SO deg c. ila<f.
for last half January clearance. =.
THE weekly cable on TUESDAY from
Cuba reported receipts of 1869 tons
and IS Centrals grinding as, compared
to 1900 tons receints and a. Centrals
at the corresponding date LAST year.
TODAY 81 Centrals are in operation
and the weather is very favorable for
the growing crop.
EARLY ID, the week, In order to meet
the eut In price of refined made by
Philadelphia raf'ners, the sAmerican s.
R. Co, National s. r. Co. and Ar
buckle Bros. reduced their list price
for Granulated to 5.a5c less Q per cent.
The Federal S, r., Co. and Warner S.
r. Co.. on account of closing down
did not change their list prices but
announced that they were practically
withdrawn from the market Bust
ness generally was extremely moder-
ate and mostly on a hand-te-mouth
basis. The trade Throughout the
country Is fairly we'll sunn'ied for the
time being and are not inclined to in
crease their commitments in the face
OF the holiday and inventory season.
At the close, all interests are firm at
5.95c less 2 per cent. except the Fed
eral S. r. Co. and Warner S. r. Co.
who are closed down"