Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-07-14
REFINERS FORCE
READJUSTMENTS.
OF SUGAR PRICE:
Despite Large Purchases Of
Cubas Attempt to Make Ad-
yances is Ineffective :

In the sugar review under date Of
June 20, Movers & Callaghan of 8!
Wall street, New York, give the fol
lowing report of the market: =. :
NEW YORK, June 2s.-At the out
set Of this week the sugar market
displayed evidences of strength al
sales Of about 100000, 900 bags o.
Cubas afloat and for prompt shipment
at 5 3-Sc. and 10000 bags for July
shipment at 7-16c. basis So deg. C. q
f. established an advance of 1-Sc. In
the spot quotation and of 1-16c. over
the previous price paid for Cubas in
the July position. These sales temper
arily cleared the market of offerings
at these prices and left only nloder'
ate quantities Of Cubas offering at
f-2c. basis So deg. c. & I. for either
June or July shipments, and q firmer
feeling in evidence. However, this
firmer tendency was of but short dura-
ton as II soon developed that sub
stantiai basis was lacking to justify
any active buying on the part of re-
finers at the moment, and when II
was reahzed that not alone were the
buyers unwilling to pay any advance
but had actually withdrawn from the
market even at last levels of prices
paid, holders gradually readinsted
their asking price of Cubas to 5 3-Sc.
for prompt shipment and 5 Tic. basis
Sc deg. c. & +. for. July shipment,
without attracting local buyers. Al.
though Philadelphia refiner accept.
ed ons small cargo OF Cubas for July
shipment at 5 7-16e. basis So deg. c.
& Z. and about 20-25, 600 bags OF
Porto Ricos for prompt shipment at
6.20c. basis SO deg. G. l. +. Phila-
delphia, further business at these
levels was impossible and even offer.
ings OF Porto Ricos for prompt and
July shipment at 6.14c. basis So deg.
c. /. I. New York failed to attract buy
ers. Finally, 6.14c. basis IS deg. C. 1.
f. Philadelphia was accepted for q
cargo of about $4,000 bags Of Porto
Ricos for prompt clearance and 6.0Sc.
basis 96 deg. c. i. I. New York for
8,000-10, 900 bags for prompt shipment.
Local buyers persisted in their atti-
tuda Of indifference except for Porto
Ricos at 6.0Sc basis IS deg. C. l. II
anu - uOiucTSz0l IuCSC o08ohb - AAcAn'
ed firm in their asking prices at 6. 14c.,
no further business resulted In these
sugars. Some holders OF nearby Cubas
at the close Of the week offered q few
parcels unsuccessfully at 5 5-16c. basis
9s deg. G. & T., but for July shipment
no offerings appeared below 5 s7-f6c.
basis So deg. c. & T., the feeling being
general that after the independence
Day holiday some buying would re-
suit should the domestic demand for
graduated revive. -
The market .of refined has ruled
rather quiet during the week. Follow
ing the announcement that Philadel-
phia refiners had advanced quotations
for granulated from 7.30c. less per
cent to 7.65c. less 2 per cent, Arbuokle
Bros, early in the week, readjusted
their list price to 7.65e. less 3 per
cent to meet other refiners here who
had all hitherto been firm at this
basis. With all interests quoting
Lose. less per cent for graduated,
the domestic trade became somewhat
inspired with more confidence and as
the week closes the demand shows q
slight Improvement, and the second.
hand sellers are becoming ,soarcer. No
export business Of any consequence
for refined has been placed this week.
although II was pefsistendy fumofed
and eenerally believed that zrfenfine