The Hawaiian gazette., 1917-03-09
UNUSUAL Factors
DOMINATE MARKET
Great Reduction In Estimate OF
Cuban Crop Is
Conceded

Forty eight Cuban centrals closcd
down on account of lack Of fuel, re-
fned sugar prices at prohibitory rates,
strikes still dominating the business of
I the refneries forecasts of radical re-
duction in the Cuban crop estimate, and
reports of furry of selling activity,
are some of the salient points in a re-
view Of the New York sugar market sit
uation contained in letter to local
sugar house from its New York CORE.
spondent under date Of February 81.
The letter follows: ,Hs>
ttIf appearances count for anything,
the Cuban situation has vastly improved
in the past twenty hours. Sellers
who could not be tempted to accept any
price while the market was going up
are today falling over one another in
their anxiety not to miss their opPor-
tunity. ~ Ht.N
'sLate yesterday the American Sc
cured 10000 bags for March shipment
at Az cents G. & F., and today there
are at least $50, 900 bags offered at that
figure, and one lot at 3-16 cents, but
without interesting refners.
nHowell bought today 5000 bags
prompt Porto Ricos at sos cents c. j. f.,
and later on 5000 bags of the same
sugars at 5.02 cents afoat. There are
also San Domingos on offer at an equiv
alent decline. The exchange option
market has also had a violent break, es-
pecially in the late afternoon.
''Strikes still prevail at the Brooklyn
and Jersey City refneries Of the Ma
tional and American. The Philadel
phia refners are no better off. Ar
buckle, the Federal and Warner are
filed up with business which will keep
them busy for weeks Meantime. the
domestic sugar trade will have difficulty
III supplying their customers, as their
hand to-mouth policy Of the past month
kept their stocks at minimum.
nsFigures for Cuba for the week end,
ing February IL are not complete, as 1t
has been found impossible to get any
news from many parts of Oriente Prov
inee, where the reyolntionists appear TO
be in control. Such figures as there are
come from the usual six ports and from
Santiago and Manzanillo of the out
ports (included only in Himely's fig
ures). Figures, in tons, follow:
IT, ,.". Himely Guma
Receipts ............ Vi ,0UU 1o,l29
Exports -. .. -. -. Of,OuU p. %, tSS
Stock ....... $4,000 1914
Centrals ............. 1856 lS6
Exports north HRtteras $4,000 1850
Exports TO New Orleans 10,500 1858
81 great reduction in the crop esti-
mates seems now TO be conceded on all
sides but IL will be some time before
definite figures will be procurable. The,
unusual tasseling of the cane is SUBJ
jeet Of remark in many reports. all of
which agree that the sugar content of
the cane is bound to suffer.
Refined sugar was in active demand
z in the early part of this week and re,
finers were forced in self defense to put
up prices to prohibitory rates. The
furry has now subsidized, and today
there is no excitement to speak of. Ar
buckle, Warner and the Federal are all
pegged at $50 cents basis, while the
American and the National quote IN
cents, but are turning away all busi-
ness, ms they are melting but intermit-
tently and see no end TO the strikes
which have harasscd them for the past
few weeks. Pennsylvania Sugar Com
pany quotes rs cents.
Latest news from Cuba today is
that fOrty-eight centrals have had to
shut down for want of feul." r.. '
a