Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-08-22
lBy NcAers { Callaghanl

(By NCiers & Callaghan)
NEW YORK. Aug. Although Ec
basis go { ana :. was paid By lOcav
IefineT al tho ( .Cst o. las: wsCk TO-:
une snail pa!cc. q: CGbas for MS;
LalL OF Aubusi shipment, set the ma
kct vas not firMly estd bllSEcd al thi1
vel for CuDas until tho early Part
ul this week, when TeI.uers generally
entered the Malh0t anu accepted ~
l2J 900 bags 81 Lubda for prompt and
August shipment at DC basis 80 e. aud
t. and cleared the market OF all OIIer-
ingB OF CubaS at this price. Their pur-
Chases alEo included about 35-4U- %
bags OF Porto Rico and ST. Croix Cen
trlIugals for August-oeptember rhi,:-
ment at 7.02c basis 20 c. /. l., which
also cleared the market of offerings OF
nOn-duty paying sugars at this price,
and established an advance OF. .3SC as
compared with previously reported
sales o. these sugars. Following these
transactions the market became some
what quieter, not alone because OF tho
EcarCily of the offerings which were
held at higher levels, but also on ac-
count of the temporary apathy OF re-
finers. The above purchases COM
bined with previous recent buying OF
refiners had placed them In a some.
what more independent position, and
finding their operations both on the
water front and in their refinerIes IN
terefered with by the scarcity OF labor
because of the excessive hot weather
that was prevailing, they were inclined
to hold off from further buying at the
moment. However, holders were firm
and patient, and as the demand for re-
fined, both for domestic and export
purposes continued brisk, refiners
soon found 1t necessary to again, enter
the market for further raw supplies.
Following q sale of $4,000 bags OF
Cubas for August shipment to an
operator at Lice basis go C. and T..
refined paid SIC basis go and f. in
order to secure 50/60,0O0 bags Of Gu
has for August and early September
shipment, which established new high
record prices, and cleared the market
of offerings at this level. At the close
of the week refiners again found it
necessary to raise their ideas, and
sales of Cubas for August shipment
have been made at SIC basis go C.
and>f. to the extent of 5000, 900 bags.
Even at this new high record level
Cubas show no disposition to sell free
~, and it would appear that prices
may go higher as probably not more
than 300f350, 900 tons Of the Cuban
crop remains unsold, and of this guam
tity close to $4,000 tons have not yet
been manufactured. Following the
business early in the week Of non.duty
paying sugars at 7.o2c basis go c. IL.
the market continued almost bare OF
offerings for the remainder of the
week Of any of these sugars. During
the week Canadian buyers continued
showing interest in the market, their
purchases being principally confined
to q few scattered parcels Of full duty
paying sugars for which sc basis 96S
c. 1. 4. was paid early in the week and
&c basis &C., in bond, c. 1. I. was paid
near the close Of the week Later a
local refiner paid 6 Lice basis go C.
1. I. for one small parcel Of full duty
paying sugar for September arrival.
The advancing trend of the raw mar.
ket compelled refiners 10 advance the
price on refined sugar during this
week. At the opening of the week the
American s. r. Co. advanced refined
Is points to Zoo less 2 per cent ard
Howell Is points to SC less per cent.
Later the American s. r. Co. ad-
vanced an additional % points to S15c
and Howell an additional 10 points
10th to SIS less per cent. The Fed
eral s. R. Co. and Arbuckle Bros. re-
NAMED unchanged throughout tho
week at S.50c less Q per cent. The
Federal s. R. Co. later in the week
withdrew from the market and Warner
s. r. Co. continued withdrawn
throughout the week While the de-
mand for refined sugar both from the
domestic trade and for export has
been good, it was difficult to obtain
sugars even at prices quoted by re-
timers as those refiners who continue
in the market are materially restrict.