Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-02-07
EUROPE AGAIN
COMES TO MARKET

Especial Correspondence Czarnikow
Rionda Company. III Wall street,
NEW YORK, y. Y, Jan 19--Tht
opening OF the week was quiet. with
out interest being shown in the promp
shipment Cubas available at i.37jc. c.f
1880. although on the 18th inst. thai
price was paid for sugars already
aflcat, and both New York and Phil
adelphia refiners bought some fol
prompt shipment at the lower figure
OF 4.25c. c. Z. (5.27c.). Refiners con
tinued as buyers on these terms Unit
the close, when their views came down
10 4.25c. C. T. for immediate arrival
supplies, and as offers of prompt ship
ment Cubas thereat were refused the
spot quotation declined lie. per pound
from 539c. to sic, basis SO deg
Total reported business of the week
aggregates about q 900 tons Cubas and
5000 tons Porto Ricos. =.
Reports that German raider, oper
ating off the coast of South America
had succeeded in sinking about TWEEN
ty steamers during the past month,
naturally had a temporary effect upon
freight quotations for February load
ing in Cuba. Exaggerated fears on
this score, however, have since sub
sided, and February tonnage is yet
obtainable at betWe cen Assoc per 100
lbs. Cuba sugars for February ship
ment are obtainable at Also c. f.
$4,000 for clearance first-half, and at
.06c. less for clearance till end of the
month, but the quantity at present
under offer is comparatively small
The feature of the week was the
appearance of European buyers in our
market for American refined sugars
for shipment during March and April,
the fetal taken beirg estimated at
around 10000 tons, on private terms.
While Russia is said to have bought
the bulk of the quantity involved,
France is. known to have participated
in the transaction to a moderate ex-
tent at the basis of 5.20c. (. O. b. There
have been further inquiries for about
$4,000 tons Of both raws and refined
on I. o. b. terms, but no additional bust.
ness has yet been reported.
AS compared with last year, melt
ings of refiners at the three Atlantic
ports thus far show a decrease Of
$4,000 tons. However, instead of be-
Ing due to a lack of demand for the
article, this difference is, to great
extent. accounted for by the lighter
arrivals of the raw product, in which
respect Cuba's contribution is 25,748I
tons behind last years figures at the
date. The latter de-
crease. apparently, is the result of the
Of the crop in that is
and, the visible production to 18th
January being estimated as 118,174
tons less than that attained by same
late a year ago. The weather con-
.inues favorable for grinding, but re-
,overy OF sugar from the cane is still
about per cent below last years re.
,ults.
Concerning prospects of the fmme-
late future 1t may be said that with
most Of our refiners behind in their
deliveries. necessarily increased week
y MEETINGS from now on are likely
o absorb practically all the arrivals
rom, Cuba and elsewhere for some
weeks to come. and thereby prevent
my material accumulation of stocks
It the Atlantic ports during that pc
.iod.
Quotations of sugar futures on the
New York Coffee and Sugar Exchange
lave continued to decline throughout
he week until today's closing bids of
January 4.31c., February 4.07c., March
'.9sc., April. S.9Sc., May 3.9Sc., June
I.00c., July 4.02c., August 4.03c., Sep
ember 4.05c., October 3.90c., Noyem-
'er 3.S5c. and December 3.80c show
aggregate losses from last Fridays
inal figures of .04c. in January. .07c.
o lie. in February-September, &c. in
october November and .15c. in Deem
,ec.
The receipts for the week at the
hree Atlantic ports were 41,01S tons,
with S7,700 tons last year
md 32,577 tons in 1915.
Our New Orleans correspondents
telegraph us this morning that their
market is very quiet, with no offerings
4 Louisiana raws, and that deliveries
Igainst refiners' contracts are about
There has been practically. no
hange in the refined situation, list
quotations being maintained at basis
.75c.. less 2 per cent, at which level
be trade Seems disinclined to anti
ipate requirements for the present.
rice Of the domestic beet product is
eld at the New York parity of 6.55c.
o points west of Pittsburg and Buff
alo, but is not being offered for de-
VERY east of that boundary.