Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-05-22
SUGAR MARKET
IlCLIVE:'Si Lower
Especial Correspondence, Nevers &
! Callahan. 80 Wall street)

Especial Correspondence, Nevers &
i Callaghan, SO Wall street,
NEW YORK, n. Y. May 11.--There
were no special features to the market
during this week, the conditions being
practically unchanged over last week
Although local refiners are apparently
amply supplied with melting stocks for
the moment, still, assisted by con-
tinued demand from outport refiners,
the buying inquiry during this week
was sufficient to again gradually alb
sorb the limited offerings, without ma.
terially affecting prices.
Throughout the early part of the
week holders of Cuhas in forward posi-
lions were offering sparingly and were
firm in their asking price Of 3-8c
basis go C. and f., and although re-
finers were Interested In these offer
ings at 8 Lac basis 90 c. and f., only
moderate transactions resulted at this
latter price, mostly for prompt ship
ment and principally to outports. For
Cnbas afloat and for prompt clearance
to New York 5 lac basis go c. and (.
was unobtainable and holders of few
scattered parcels Of Gubas In these
positions found It necessary to accept
5 3-16c basis So c. and f.. for these
holdings, while 5 1-8c basis 96o c. and
T. was accepted for one small parcel
OF Cubas In port. The same conditions
prevailed on Porto Rieos as regards
concessions being insisted upon for
nearby parcels, small sales of these
sugars having been made during the
early part of the week at 6.8Sc basis
So c. /. f. for very nearby parcels and
at 6.14c basis go c. /. {. for forward
positions. ~ ILL.,. #
Later in the week the general stu.
alton was somewhat reversed by the
publication of the FUR text of the war
revenue bill proposed to be submitted
to congress md which contemplates
an additional 10 per cent ad yaiorem
duty on dutiable sugars over and
above the present specific duty. This
news had the effect of creating q
slightly steadier feeling for nearby
sugars and shade easier tendency
for sugars in distant positions. As q
result, local refiners continued willing
to pay 3-16c basis So C.. and /. for
nearby CHbas but withdrew az buyers
at a1-4c basis Sc G. and (. for Cubas
for the late May and early June ship
meAts. However, outport refiners ac-
cepted moderate quantities of Cubas
for May and early June shipment at
5 1-4c basis 96o G. and f, and local
refiner paid 6.20c basis So c. i. I. for
Porto RicD Ior prompt shipment to
New York or New Orleans or Csc
basis Sc G. 1. 4. II for Boston or Phfia-
delpiha. Following this business, how.
ever, offerings Of Cubas ct 5 lie basis
96s {. and {. for all positions slightly
Increased In quantity and being unable
10 effect sales at this price holders Of.
Tered concessions resulting n mcdef.
ate sales to local refiners Of Cubas
for May and June shipment ct s 3-I6c
basis So 9. and {
The British commission have bought
additional moderate quantities Of
Cubas Z. o. b, during the week. aeRre
eating possibly 10, 900 tons Ct l.80c to
4.Sec basis 81 {. o. b. Cuba Tor May
and June loading respectively, but fo-
wards the close Of the week these
buyers have reduced their views and
Il II now questionable Nheth6r any
higher price than f.f6c I. .. b. u now
Cor the commissi0n. even
Tor Cuhaa for June ion6ine.
The market ior refined q unch11<c1
d ail particularly The Amofl111 4 3
Co. continued - accept 4 Hf.II'[IcI
ruoint<e o. l.IIo |.r. D.| ||.| 4.