Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-04-02
OF SUGAR
IS TEMPORARILY
BROUGHT TOSTOP
Especial Correspondence of Czarni
knu.Rinnfa Co 10 Wall Sfreetl

IlSpeclA Correspondence OF C1dfni-
kow,Rionda Co.. 112 Wall STREET.
NEW YORK. March 16.-The raw
sugar market continued under the in
fluence Of the moderate pressure to
dispose Of sugar In DISTRESSED POSI-
tons for the shipment during March,
which was in evidence last week.
After early transactions in prompt
supplies at Tie. CT. t5.46c.l and
March at 4.50c. CT. tS.52c.) on Mon
day, 18th inst, Subsequent offerings
resulted in an earlier tendency, sales
of Cu5as afloat, recorded two days
later at 4.375c CT t5.S9c.l. being
followed yesterday by a small lot in
same position at the yet lower figures
OF Isle. c. f., on winch the spot quota
ticn went to J.33c.. basis SO degrees.
That out Of total reported business
OF about 10000 tons Cubas only one
sale of 1900 tons for April shipment
is included, clearly demonstrates the
present reluctance o. Cuba sellers to
make contract, for distant deliveries.
From glance st the list Of sales IL
will be noted that several parcels
were taken by operators, who awaited
of the opportunity afforded by the ex.
listing depression in distress sugars
to secure such lots at low figures, and
selling futures on the Exchange
against same at good margin of
profit. At the close of small parcel
Of 5000 bags April shipment Cubas,
offered at 4.375c c. I. t5.S9c), was
promptly snapped Up by operators,
probably for the same purpose.
| Porto Rico has continued a free sell
Ter Of her product this week, at prices
ranging between 5.14c and $780,,
basis 96 degrees, delivered New York.
The last sale Of that description was
,consummated yesterday and consisted
of about $500 tons. for prompt and
March shipment, at 5.27c. there being
further sellers but no buyers at same
price. It may here be Of interest to
point out that the aggregate receipts
Of Porto Rico sugars at the Atlantic
Ports and New Orleans, thus far this
year, exceed those of the same period
OF 1916 by almost 81 900 TONS.
Reports from Cuba show q oontin-
uance of. the lamentable destruction
of cane by tires especially in the East
ern sections OF the Island. and mail
adyices forecast 4 very heavy shortage
In output Of sugar BY Centfals ID the
locality, In fact. the recent burning
or cane has been, II anything more
serious than was the case ten days
ago. In consequence OF this develop
ment Messrs Guma.Meier cable that
owing to the cane destroyed. the dls-
Organization in Eastern provinces and
4 general p0ofness Of yield. their re-
vised estimate Of the current. crop Will
be below 33,000D00 tons, and figures
even considerably below these have
been predicted by other reliable and
Weilsposted authorities on the subject.
The prolonged labor strikes at Unit
ed States refineries, although lately
much improved, have caused our re-
timers. to temporarily withdraw from
foreign business AS a result of this
Canadian refiners have recently sold
to United Kingdom about 10000 tons
of Granulated at &c. f. o. b. This
naturally indicates that once condi-
tions have been sufficiently improved
to permit Of a resumption of ship.
ments abroad large demand may be
expected to appear from Europe.
Inc 4uitIlcuily OIL Dn0InB any SetfoFS
of Cubas foi April-May shipments has
temporarily halted business In raRs
for export to Europe. but the small
PARCELS that have occasionally come |
upon the market have been absorbed
by local Cuban shippers at prices at
somewhat above &C. I o. b.
After sharp advance of .15c. to
ice. per ID. throughout the list bet. |
ween last fridays and Mondays clos
ing, quotations Of suger futures on the
New York Coffsc and Sugar Exchange |
again resumed q downward course !
until today's closing bids of March
441e., April 4.fSc., May 4.53c., June
4.56c., July 4.5S., August 4.60c., Sep |
temher 4.63c., October 1850, Noyem-
Der 4.46c., and December 1850. bring |
the weeks net advances down to 03c
to csc. per ID. The January position |
has declined from 4.33c., bid on 10th
inst, to 4.2Sc. this afternoon.
The receipts for the week at the
Atlantic ports were 1888 tons, with
~. 526 tons last year and 57,623 tons