Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-11-18
SUGAR STOCK ON
HAND is LOWEST
in THREE YEARS
Indications Are Refiners viii
Find Shortage Before End
of Next Month

KEW YORK, Il, Y, NOV. 2
That the Wek under review has
been one Of the most quiet ones eX
perienced Tor some time past is
shown BY a list Of reported business
aggregating only 10000 tons sugar.
on which the spot quotation declined
.Igc. per TO- 10 G,4Gc, basis 80 deg
These transactions comprised 5000
tons fuil-duty sugars OF which New
York refiners took 2200 tons Brazils
and Perus, for November arrival at
5.I25c elf and $500 tons OF 81
Croix sugars about TO clear for
which q Philadelphia refiner yester
day paid the highest level OF 5lSt5c.
elf The sales Of 5000 tons CAItas
Included small purchases By opera
tors OF first-half November shipment
at 544c CT (6.46c) on lst inst.
Whilst refiners had taken some
prompt Clibas at 5.e25e. CT t6.65e. }
and afloats at 5.50c. CT. l6.52c.D on
Both October, subsequent limited Of
ferings thereat failed Of interest, but
Notwithstanding this apparent unwil-
llngness OF refiners TO take on ad
ditional supplies, sellers have re-
inained film in their asking prices,
realizing that all the sugar available
for the Atlantic ports during balance
OF this year will be needed
Such an attitude on the part OF
holders is undoubtedly justified by
statistics. Stocks in ali hands at
United. States Atlantic ports now
stand at only 5l,040 tons, their low
est point since beginning of January,
1913 And assuming that MEETINGS
during November. December Will equal
those Of the corresponding two
months OF last year, namely, S63,Ooo
tons, 10 which must be added say
$4,000 tons as minimum stocks OF
raws in the hands OF refiners on
January /, 1917, make total require
ments TO that date of $4,000 tons
sugar. Against these needs are
found present combined stocks al
Atlantic ports and Cuba of about
200. 900 tons. supplementary by afloats
from Cuba 10000 tons, from Hawaii
an ISLANDS, 1900 tons (the balance
estimated still TO be received by re
finersl. and $4,000 tons from the
Failippines (about all that can be
expected 20 arrive before end of the
yearj. together with 10000 tons from
various other sources texcludlng
l.ouisiana), a figure which, If any
thing, is very liberal. These 1--we
items give a total OF 100000 tons,
and leave an indicated gap of l0I,-
600 tons to be filled by the Louisiana
product in conjunction with early
new crop Cubas, quantity which 1t
will be practically impossible TO
Ill ugffbfn the
period named, for in the case oil Lou
isiana transportation faeiities lot
more than 25,000-S0,000 tons would
be difficult TO secure, and as regards
Cuba, a good portion of her very
early sugars having already been sold
on the Exchange, will require TO be
brought back before they can be-
come available for sale to refiners
Weather conditions at the sources
al production will also play a very
important part during the period I'M
der discussion AT present dry
weather is necessary for the proper
ripening of the cane in Cuba, but
recent adviees from the island state
that il has rained so heavily there
as 10 interfere with the york on
steamers now in course of loading
sugars for the United States. Reports
are also still general that shipments
OF machinery from this country to
Cuba continue very much delayed.
Trading in sugar futures on the
New York Coffee and Sugar Tx
change this week consisted of 1880
tons, with an easier tendency to
prices Todays closing bids of No
vember 5.56c.. December 5lSc., Jan
uary 1860. February 4.2Sc., March
2.24c.. April 42sc. May 1850, June
4.sSc., July ALE. August 4.44c, Sep
TENDER 4.47c., while .0se. higher for
November, represent net declines in
ether months ranging from .03c De
cember to loo. January. October,
1917. delivery closed 4.50c., which is
lie. per ID. above the closing bids
on 1st inst