Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-03-15
Higher PRICES
ARE INDICATED
Especial Correspondence Czarnikow
Rionda ComDany. 112 tall Street

Especial Correspondence Czarnikow-
Rionda Company, 112 Tall Street,
X NEW YORK, Il. Y, Feb. 23.-An un-
settled and somewhat easier market
has prevailed here during the past
week. After sales early In the week
Of Cubas afloat and for prompt, first
half March shipment at 450c CT.
t5.52cl, and in, one instance even
1850 CT. (5.5Sc) being paid by ope-
rators for small parcel afloat, the
development of an easier tone resulted
in subsequent transactions being re-
corded at values gradually declining
until 4.l9c CT. (521cD was touched on
21st inst, when that price was accept
ed from operators foD about $4,000
bags March shipment Cubas. At the
close the limited offerings of both
February and March shipment sugars
fail to find buyers at this reduced
level. ,..sZ.. - $4,000.
Porto Rican holders were quick to
take advantage of the recent advance,
and became such free sellers that a
large business was done in sugars
from that island at prices ranging
between 5,92c and 5.27c, delivered.
With our refiners fairly we'll sup
piled for their remaining February
requirements, which are below normal
as result Of diminished weekly melt
ings attending recent strikes at their
plants, and With stocks In their pos
session at the Atlantic ports $4,000
tons in excess of their holdings at
same time last year, they naturally
have not as yet been disposed to act
lively provide for March needs.
In these circumstances 1t was quite
natural that ocr market should suffer
a temporary setback. The outlook for
the more distant future, however,
would seem to forecast a stiffening of
prices after existing labor troubles at
the refineries have run their course,
and the trade are again forced to sup
ply themselves with graduated. Ac-
cording to the best information OBJ
te'reale. stocks of refined sugars have
dwindled to almost nothing, and that
assertion appears to be fully confirm
ed by the exorbitant prices Gin some
localities reported as high as CSC per
pound), now being demanded by re-
tailers from consumers.
Another factor that is bound to
WELD considerable influence upon the
situation in the near future is the ex.
tent of reduction in crop estimates
made necessary bv present political
Disturbances in Cuba. which have
caused q general curtailment of daily
output of the plantations, owing to a
lack of labor and facilities for hauling
the raw material over the railroads of
the islanu. Late meil and cabled adj
vices received from reliable sources
there are now generally agreed that
outturn of2the current campaign is not
likalr RI reach even last years fig.
ures of 3.007.9l5 tons, and of course,
the longer 1t takes for conditions to
permit OF a return to normal grinding
operstions at the mills, the greater
will be the deficit in the ultimate pro-
duction.
Quotations Of sugar futures on the
New York Coffee and Sugar Exchange
have this week suffered sharp reac.
tons, today's closing bids of February
4.15c, March 414c. April Also. May
41Sc, June 4.19c, July 4.20e. August
ALE, September 423c, October 4I3c,
November 4.02c and December 3.92c,
showing aggregate declines Of .63e per
ID. in February, .45c in March and
from Csc to .37c in the other deliver.
les. This wiped out almost the whole
OF the previous weeks gains.
Refined sugars have been in good
demand. but business has been of only
restricted volume, owing to the effect
of labor strikes upon operations at
the various refineries further gen.
eral advance of Csc per lb. this week
raised the American Sugar Refining
Co. and B. H. Howell. Son & Co. to
basis 7.2sc. less per cent. and
brought Arbuckle Bros up to Warner
Sugar Refining Co.'S level of 7.5Ac,
less per cent but Federal Sugar Re
filming Co. have gene still higher to
basissSc. less per cent