The Hawaiian gazette., 1917-02-23
Sugar and Plantation News
NEW YORK SUGAR MARKET HOLDS FIRM
y, - 80 4. atss,g n
Strikes and Diver War Have Little Effect

! In the face Of many disturbing fac
tors the New York sugar market re.
manned steady during the first week Of
February and the week preceding.
Strikes in mainland rehneries, trouble
with labor In Porto Rico and the Ger.
man declaration Of unrestricted subina.
rine warfare combined to dominate the
situation, but the sugar market failed
to feel any Of the decentralization that
was evident in all other New York
markets. @stats.a,'
Correspondence TO a local sugar
agency from Its New York representa-,
tive summarizes the situation for the
two weeks ending February 2 and Feb
ruary 3.
The week of February found the
market In deadlock, while the an
nouncement Of ruthless submarine war
fare slightly slowed up operations.
Sales Of raws reported by Willett q
Gray for the week were; Porto Ricoa,
$1,000 bags prompt; venezuelas, 500
bags afioat; 'Csbas, $4,000 bags anoat,
nearby, prompt and February, and
80 900 bags March shipment.
Most Of the week the market pre-.
vailed Ut 48D cents, report Willett q
Cray. At times there were conditions
of easiness and there were offers to sell
at 4.S9 cents, but these conditions we're
! temporary, as a sufficient buying inter
est appeared to steady the market
Porto Ricos were somewhat Of a deter
rent factor rs the principal buyers Of
these sugars were fnterfered with In
their operations by strikes. Review Of
the week by the correspondent of a
local sugar house, under date Of Febru-
2, follows: T.. ..u..-.... y.
J Deadlock SEN Potent
i 1.-THE deadlock Of last week is just
as potent this week in curtaihng opera.
tions in this market, and the sensa.
tional confirmation yesterday of the
sinister rumors to the effect that ruth,
less submarine warfare would be waged
! by Germany added TO the disposition Of
refners 70 60 slow and wait for some
! indication of the probable situation in
the future. Strikes at practically al
refneries here continue, and the Amer,
lean plants at Philadelphia are shut
down for the same reason. There was
/ some trouble on this account both al
: McCahan 3 and the Pennsylvania rein
1 cries in that city, but we are informed
today that these have been comprom
Used, 2Et1 .tN t."r .s.' ~
despite the decentralization preva
lent in all other commodities of inter
national interest and the smash in tn,
! stock markets, the sugar market as vel
| is very little affected. Even y esterday
morning after the news about subma
! rines was out operators took over 30,
!, 900 bags February and March shipmen
Cubas at 3 7-8 cents G. q F., though
J they withdrew from the market late
( in the day. Sellers, however, were no
pressing and even today they are offer
I ing rather iRdifferently meager $1,000
I bags Cubas ut 3, rs cents @. q r. IN,
sale yesterday to Howell Of 5000 bag
Porto Rico afioat at 40 cents e. i. 4
does not mean much. The buyer wa
not in need of sugar but took this 10
as the price is attractive.'
H"What we have already indicates
must be kept in mind with all sales o
Porto Rico sugars this year the sam
as last Viz;-that nearly, If not quit
all, of tire Porto Ricans have contracts
for freights well under 20 cents pc
one hundred pounds and, in at leas
one case, for three years ahead Ad
TO this the objection to these sugars 70
export purposes and one can readil
j. perceive that these sugars are likel
all through this CROP season TO be sol
i very much under the parity Of Cuba
unless frrights from this island take
tumble which is Just what everybody ]
wondering about now.
Rehners Out Of Market
\ ga sale to an operator of 1910
bags Cubas February and March shiF
ment al 3 1916 cents g, a r. and ~
rnors, uneonhrmed; Of. further sales a
the same price would appear TO sho'
weakness but as refinefs are absolute
~ out Of the market for the time bein
and Cuban holders are indifferent sell