Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-03-16
SUGAR MARKET IS
HIGHLY ERUATIC
ON VARYING NEWS
RaWs Are Influenced BY Cuban
and War News and Strikes
Affect Refined Price
Especial Correspondence Nevers &
Callagban, 80 Wall Streets


Callaghan, 80 Wall Streets
NEW YORK, u. Y. March Am
uncertain and erradc market has
ruled during this week and although
conflicting influences have entered
into consideration to sway sentiment
favorable and adversely. from time to
time. still the general feeling has been
sufficiently firm to force an upward
trend OF prices. Sales OF Cdbas for
March shipment az the close OF this
week at 4ke c.&f. and OF Porto Ricos.
also for March shipment, at 5.l4e basis
So deg. elf, show advances of 3-16c
for Cubas and .I2c for Porto Ricos
as compared with prices paid at the
close of last week for like sugars in
these positions. On account OF an ac-
emulation of sugars In nearby posi-
lions and the inability OF refiners to
handle same because OF strikes, some
pressure to sell developed early in the
week. resulting in moderate sales OF
cubas In port, afloat and for prompt
shipment at &c basis So deg. c.&f., and
OF Porto Ricos in port at 4.S9c basis
'9G deg. c.if., representing respective
declines Of Bloc and lie from pre-
yxious prices paid.
a Following this business offerings be-
came scarcer and on unfavorable
news from Cuba regarding the politi-
cal disturbances there. the market
suddenly assumed a firmer tone. re-
sulting In further moderate business
in Cubas afloat and for shipment at
4Ac basis 96 deg. c&f and in Porto
Ricos at 4.96c and 5.02c basis Sc deg
c.ii. Holders then further advanced
their ideas and business ensued from
day TO day to refiners and operators
at 4zc basis SO deg c.&f. for Cubas
and at 5.14c basis SO deg. elf. for
Porto Ricos, all for prompt and March
shipment. The Cuban political sitna-
ton has had direct bearing on the
tendency of the market which grows
firm and then wayers as alternate re-
ports are received. advising better or
poorer prospects OF prompt temina-
ton Of the uprising. At the close the
market is steady at last prices. Dur
Ing the week. sales aggregating over
10000 tons OF Cubas were made at &c
basis sc deg. fob. Cuba for March
loading TO an operator for foreign ae.a
count presumably to be- shipped to
England.
Rather abnormal conditions have
prevailed in the refined market, re-
finers' quotations ranging from &c to
So less 2e5 Tor granulated. The ina
bility Of refiners to make prompt de-
liyeries, on account Of the accumula-
ton Of previous orders on their books
due 70 strikes. makes 1t difficult to-
do business. Although distributors
and manufacturers are generally bare
Of Vtocks Of refined and are anxious to
obtAin immediate supplies, still re-
finers are not IN q position to guaran-
tee very prompt shipment, and in con-
sequence the trade, who are already
covered with contracts, are not dis
posed to do further buying at the pre-
Xailing prices without assurance as to
when they viii receive the sugar.
Strike conditions are understood to
b. improving with refiners now affect
ed, all refineries that were tied up
now being In operation with reduced
capacities. Refiners are not in a po--
sition 70 accept export business in re-
fined for prompt shipment, but some
export refined business is being done
from second hands at 5.90c to SC net
cash fob.