Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-01-20
HAND 1OM0U7R
BASIsCONTINU||ES
TNSUGAR TRADE
Special Correspondence NeyerN 4
Callaghan, % Wall Street.

special Correspondence .NSSSTS d
Callaghan, % Wall Street
| NEW YORK. \. u. Jan. THE
/ extremely light exports from Cuba TO
! L. s. Atlantic ports during the past
three weeks and the scarcity OF offer
! ings OF sugars OF all descriptions at
! the opening OF the market following
the New Year HOLIDAYS. combined with
the depleted condition OF refiners'
stocks OF TaWS and Il steadily inCreaS-
ing daily demand for refined sugar
from the domestic trade. were the
combination OF conditions ;nat re
suited in a firm and advancing mar,
ket throughout this week The COM
I'etitiOn TO secure sugars for prompt
delivery raised the spot quotation for
Cubas 10 $3.50, basis 90 degrees, duty
paid, az against the sic quotation
that ruled at the close of our last re
view. showing an Improvement OF 12C
during the four days of market opera
tions since the opening OF the year
The sale Of one small parcel Of
Cubas in port to Spectator late last
week at j.21c, basis 90 degrees duty
paid. was followed by additional small
sales Of CubaS in port and for prompt
shipment TO OutpOrt refiners early this
week at this level, Lac basis sc
degrees C. & f. New York and Phla-
delphIa, and later by moderate sales
TO local refiners Of Cubas in nearby
positions, also at lac basis 80 de-
grees c. & {. The market, however,
soon became exhausted Of nearby Of
ferings of Cubas at this price. where
upon refiners extended their pun
ehases to CubaS for all January clear
ances. but only secured very mOder-
at quantities in this position at
4 Lac basis SO degrees c. & f., before
the market became bare of further
quantities of Cubas anywhere in the
January position at this level. Rein
ers then again turro1 their attention
to warehouse sugars and although, by
gradually advancing their views. they
were successful in securing $4,000
bags Cubas from store at the eQuiva
lent of 5-16c basis Sc degrees t. &
( (5.33c) and later 10000 bags also
from store at the equivalent of 3-8c
basis SO degrees c. & (. (5.39cl, yet
there were not. free sellers of nearby
Cubas at either of these levels, as the
stocks held in stOre here by importers
are now practically exhausted The
market closes very firm with buyers
for Cubas at 1880 for first half Jan.
uary, at lac for last half January
and 18c basis Sc degrees c. & f. for
first half February clearance, and
with sellers demanding 1Sc advance.
over these prices. lnasmuCh as West
ern beet manufacturers have with
drawn from Eastern territory our re-
finers here should experience a de-
cidedly better demand from now on,
and this in turn should create bet
ter inquiry for raws.
The weekly cable from Cuba on JAN
nary 2 reported IA .centrals grinding, |
as compared to 100 centrals at the |
date last year. Today |
the number Of centrals at work is 100, |
as against 1913 last year. The exports, |
all to the U. s Atlantic ports, amount |
ed to only 1923 tons, and as the ex-
ports for the two previous weeks we're |
$3.50 tons and 1927 tons respectively, |
The total shipments from Cuba to the |
U. s. during the past three weeks |
only amount to a scant 10000 tons. |
These extremely li6ht exports have |
been the principal factor in bring,
ng about the strong situation now
existing in this market
An additional readjustment of 10
points in the price of granulated to
;.75c less per cent, announced early
n the week. placed the refined mar
Iet on a sufficiently sound basis to
the domestic trade to buy
more freely than they had been do
ng, and although no contracts are as
ret being placed, still the orders COM
ng to hand now contemplate supplies
head OF actual daily requirements.
Is the trade has been moving on g
strictly "hand-to-mouth" basis for the
'ast few weeks and is practically bare
# stocks, it seems plausible that
urther Strengthening up of raws may
Emulate a material increase in the
!emand for refined at present prices.