Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-09-13
MARKET
FOR SUGAR MAKES
FOR HIGH PRICE
CONTINUED from Page 81

responding week last year. Exports
| total about the same as last week,
SO .023 tons, with 1882 tons destined
to U. s. Atlantic ports, although rein
ers here have made practically no pur.
chases; 1929 tons are for New Or
leans. where the renners are only
melting lightly, and IL. 032 tons are go
ing forward to Europe. Stocks in the
island are reduced slightly TO 395, 730
tons Three centrals are at work
against four last week and four at
this time last wear. Visible produc-
tion to August 26 is 2,950,95S tons.
The weather throughout the week has
continued favorable for the growing
crop. -. 49,
American Sugars Displaced -
Report from our correspondents In
London, printed separately in this Is
sue, coincide with our views as ex-
pressed two weeks ago, that Java and
Mauritius white sugars and refining
grades have displaced American Gran
ulated and CUBA raws in the u. X.
markets, because of the lower basis
at which these eastern sugars have
been selling. Our correspondents es-
innate surplus available from Java
of 250, 200 tons, either for Europe or
Oriental countries.
Refined Price Unchanged
Refined has remained unchanged
during the week, the American, Ma
tional and Arbuckle quoting &c and
Federal and Warner 7.25c regular
terms. Some moderate business has
been done during the week in second
hand sugars at 6.S0c and 6.85c, and we
hear a report that Philadelphia re-
finer is willing to consider offers for
shipment to points west of Buffalo and
Pittsburg at 6.s0c less per cent. :
Refiners give notice that all con-
tracts placed on and after August 4
which are not withdrawn at the expi-
ration Of the delayed delivery priyi-
lege, will be completed by the ship
ment of barrels OF fine graduated
without notice.
The export business has been quiet
with a few small lots placed for South
America and Europe. Quotations are
more or less nominal, but business in
small lots can he placed at about 5.S5
net cash, in bond.
Liverpool Supply Short
Liverpool writes under date of Aug.
17.-Cane.-Imports of raw for the
past two months have amounted to
226,000 tons. against possible NELL
ings by refiners of 100000 tons, but.
part of the import consists Of low SUI
CARS which refiners do not use, and
part of qualities suitable for direct
consumption or use by manufacturers,
with the result that during the past
fortnight direct consumption or use
by manufacturers, with the result that
during the past fortnight refiners
have not had enough to enable them
to work full time. Low kinds are en-
tirely neglected
Refined.-The sugar commissioners
are doing all that Is possible to cur
tail the demand, and the apparent
consumption for the past ten months
has been $4,000 tons less than in
1914-15, and 1900 tons less than the
pre-war consumption of 1884, hNt}i3
still in excess Of the supply.
Prices of all kinds are unchanged.
Tate's prices are based on Ais T19d
less per cent, duty paid, for stand
ard granulated. ~
Under date of August 3 London
writes: Our last report was dated
June 6, 1915. Over the past two
months prices of British refined and
American granulated, as fixed by the
Royal Commission, have remained
without change. We are now reach
ing the period when the market may
expect to receive regular supplies OF
white Java sugars, and these will be
followed later by substantial ship
ments from Mauritius, the British
government having secured from that
island the whole outturn of crystals
of the 1857 campaign, on the basis
of 18s per ewt. fob.
The outstanding feature of the mo-
ment is the sharp decline which has
recently occurred In New York quo
tations, attributable largely to ner-
ycusness on the part of speculative
holders whose present engagements
must have been contracted mainly
on dangerously high level of values.
Moreover, the Cuban-American Syn,
dictate, which has so largely and so
successfully controlled the situation
for several months past. must now
realize that with the free supplies
from Java and Mauritius, referred to
above, European markets will be COM
paratively independent of raw Cubans
and American granulated for the re-
mainder of this year, and that ship
ments to Europe in that period will
compare unfavorably with the impor-
tant quantities supplied in the second
half of 1915.
The following are comparative fig
ures of imports into the United King
dom:
Roughly speaking. stocks in Cuba
and at American ports are about 100,-
600 tons below those at the COM
mencement of August, 1915, but
against this deficiency may be set
the surplus production anticipated in
United States beet and Louisiana
cane. and it follows that Cuban and
American stocks will benefit by any
decrease in European shipments.
There would appear to be a quite
considerable balance of supply avail