The Hawaiian gazette., 1916-06-23
SUGAR SITUATION =.
ON FIRST OF JUNE
WiIIett & Gray Say that Strike
z Has Affected Market In IL
New York
e g.
StatlsticaIly There Is Indication
ii OF Renewal Of Activity On /
Upward Side ~

Sales Of raw sugar at New York dur
ing the week ending June were $780,.
900 bags Cubas, $4,000 San Domingo
and 5000 Porto Rieos. Willett q
Gray's report stated in part that cen
trails grinding were AZ, against SO last
week, 102 last year and 80 in 1914. /.
Stocks In the United states and
Cuba together were l,O96,749 tons,
against l,144,s43 tons last week and
l,zlS,6l7 tons last year, a decrease Of
lzl,oyS tons from last year. ~
Several holidays interviewed during
the week under review, which tended
70 keep the market quiet at the re-
opening of business on Wednesday.
The close of transactions last week was
6.2Ic for nearby Cuba Centrifugals and
6.02c for Porto Ricos. ~
The opening sales this week for same
position were at 6.40c for Cubas and
with eide to 6.27e asked for PORTO
Rico5, but at the close the tone was
easier, with sales at 6.33c for CubaS
aud Porto Kfcos, with outport optionA
at Ollie. e5
strike Has Ended -
The strike conditions remained UNI.
improved until the close, when an
nopncemeht was made that settle.
mefit was practically arranged. i
6tatistically the sugar situation favs
ofs some renewal of activity on the up
ward side Of the raw sugar market dur
ing the month OF June, but to wnai
extent is more or less uncertain, a.
much still depends on the relations OF
labor to the different industries con.
nected with sugar refining. Further.
more, some improvement in the demand
for refined, both local and export, is
needed to sustain any advance. At
More Sales fob.
Some inquiry is noted for Cubas on
an fob, Cuba basis at around 4,S5e,
and a fairly good business has been
put through at about this figure.
Cuban receipts for the week at 49,
9l4 tons show the natural falling Of
OF production towards the end Of thu
crop. Total exports are large ut g8,
645 tons for the week, but only mod.
crate for those destined U. S. Atlantic
ports of 44,020, tons, with 1880 tons
to New Orleans, while the shipments
to Europe are large at 47,345 tons.
The large exports have decreased the
stock IN Cuba from the high point OF
last week to s94, 1872 tons May 30, and
on which date az Centrals continued
grinding. Visible production to May
q Is 2,6SS,996 tons, against 2,162, 092
tons last year and 2,223,S2s tons in
Heavy Taxes On Sugar
lin France the government has assess
ed tax on sugar as follows:
Per 100 kfIos.
CrystaliEed and tGranulated, fcs., :. .7s.OO
Customs duty and refining tax ...... SOD
Consumption tax ..................2 D. co
{ Fcs 11l.BO
Equal to 9.76sc per Id. at par of ex-
change to apply on sugars sold whole
sale. The cost of package is also TO
be added.
For retailers the tax is to be fcs. l.20
per kilo for graduated and fcs. l.30
per kilO for sugars in cube or domino
shape, and fcs. les per kilo for loaves.
1t is also expected to increase the
consumption tax from fc. 20 to fc. 40
per 100 kilos, making the total ta1
fcs. 1860 per 100 kilos or ll.OSlt
per ID.
Consumption Is Slow
The demand has been limited TO the
requirements Of new business, the coun,
try generally being satisfied TO reduce
their stocks on hand before buying
again freely.
This puts the market into a possible
position of increased strength and pos
sible Improvement in prices when buy
ing is resumed II seems little too
early yet to advise caution in buying
and it may be that too much caution
is already being exercised.
Progress has been made in the settle.
mint of the strikes at the different co.
operage plants, but American, Howell
and Arbuckle arr still unable to furn.
ish the trade with sugar IA barrels in
any quantity; meanwhile they request
the jobbers TO specify bag sugar as far
as possible, but the barrel situation will
probably show Improvement next week.
Sugars in second hands are In light
demand at prices around 7.45c TO 7.5Oc,
refners terms.