Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-01-11
Higher FREIGHT
RAISE PRICES
Especial Correspondence Czarnikow-
Rionda Company, 1l2 Wall Street,

! NEW YORK, n. Y, Dec 22-The
! steadier tone noticeable in our mar.
Eet at the close OF last week, when
| Cubas, in port, were sold to New York
! refiners at 4.z5c C. T. and also ex-store
here at 5.27c, duty paid. for trans
! portation by rail to Philadelphia,
proved OF short duration. At the open
| ing Of current week prompt Porto
Ricos sold down to 5.14c delivered.
and after a small quantity OF Cubas
/ in store had been closed at previous
level Of SIZE, duty paid (4.25c c. y,
the market became easier, but de-
| cidedly increased, activity developed
| when Cubas in port and for prompt,
as well as shipment on specified dates
In January, became available at a re-
duction OF .125c per pound to 4.125c
c. I. (5.14c).
A fair volume OF business was trans
acted a. this price. Refiners also be-
gan to show more desire to buy Cubas
for shipment, all January, February
and March, paying &c c. (. (5.02cl for
the earlier months supplies and 3.ST5c
c. T. 4.90c) for the more distant de-
liveries, and with the elimination of
between the values of old and new
crop Cubas, there lie now more ineen-
tive for ref:ners to provide for future
requirements. Such inducement, how
ever, as yet applies only to raws, the
ruling quotations OF the refined prod.
uct being still out Of proportion with
prices of the former description, but
once REIMBURSEMENT has been ef-
fected, the admittedly low stocks OF
refined sugars in the entire Eastern
section of this country foreshadow q
demand for that article during Jan.
uary. 1917, so active as to very likely
exceed that experienced in the same
months this year, when average week
ly MEETINGS Of $4,000 tons were re-
corded at TIE three Atlantic ports.
Freight Rate to Rise .-.. .
At this time It may be of interest
to point out that, when the weekly re.
quirements of the United States be-
comes large, the cost and freight price
of sugars will be materially affected
by the capacity OF tonnage available
and the. rates of freight then prevail
Ing. Recent sales for December and
early January shipment from Cuba, at
the prices already stated, have been
possible by reason of the lower freight
rates now ruling as result of the
limited Quantity OF sugar under con.
tract for transport during the next
few weeks. But for steamer room for
shipment dilEinR lata January. Feb;
ruary and March, rates in excess OF
SOC per 100 pounds are at present be-
ing asked Consequently this is q fac
tor which must be taken into account
as likely to materially affect the ask.
ing price Of sellers of sugar when
buyers appear in the market for large
quantities In those positions.
Cuba Weather Conditions '..'.>
The weather in Cuba has lately con-
tinued favorable for grinding, but in
many parts OF the island the roads,
owing TO previous rains, still remain
in such bad condition as to make II
extremely difficult to supply factories
with sufficient cane to permit their
working at full capacity. According
TO cabled advice. the number of cen.
trails today grinding is 49,. as com,
pared with 81 on this date last year,
showing diminution of %, and with
?
days so close at hand, great many
plantations will now wait until the
early part OF January to commence
their annual operations.
Quotations OF sugar futures on the |
New York Coffee and Sugar Exchange
have shown daily fluctuations within
a narrow range. Today's closing bids |
OF December 4.1Sc, January 4.08c, Feb |
ruary 3.SSc, March 3.S2c, April 3.S4c, |
May 3.S7c, June $3.50, July 3.9Sc, Alr |
gust 3.95c, September S.98c, October |
and November 3.94c, represent a net
decline of csc and 0 &C in next Octo- |
Der and November respectively. The |
quantity traded in Is no longer In. |
cluded in the official daily market |
report OF the exchange.
Our New Orleans correspondents /
us this morning that, with |
of few large factories |
which will continue working into Jan |
uary. grinding is practically completed
the state; that the re- |
ceipts continue heavy, but are all |
taken by refiners, who are accepting |
everything now offering, either on /
spot or for prompt delivery at 4.95c,
basis SO degrees. The market is de-
scrfbed as steady at the close,
Refined Sugars have this week
been in only very limited demand. A
general reduction OF .10c per pound |
on Monday, 18th inst. lowered list
quotations TO basis 7.05c less per |
cent, but business has been possible
in some quarters since then at conces-
sions of Csc to loo from the latter |
figures. T