Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-12-06
Refined SUGAR
SCARCE IN EAST
10y MEYERS & cALLAeHAN.l

NEW YORK, Nov. 9.-ThrOughout
the past week, trading has been at a
standstill. The International Sugar
committee has been willing to pay the
basis OF $50 basis 96 deg. duty paid
for all sugars due to arrive this
month. but no sales have been report
ed. The International Sugar commit
tee and the various subcommittee
have been holding conferences daily.
Under date of November :. 1917, the
international Sugar committee pub
lished the following announcement:
1T is the intention OF the Interna
tional Sugar Committee to respect ann
not to disturb the channels through
which purchases OF sugar have hith
erto been made either for the United
States or for the European Allies
and to continue the intermediary Of
brokers and of agencies as hereto
fore"
A committee appointed by President
Menocal, to represent the Cuban
planters. held a conference with the
International committee on November
8. and discussed the price to be estab-
lished on new crop Cubas. 1t is under
stood that the planters are anxious
TO have the price fixed at not lover
than Also basis SO deg. (. o. b. Cuba,
whereas 1t is the idea of the food ad-
ministration that $50 basis Sc deg T.
o. b. Cuba would be fair price to all.
These. committees will meet again
early next week to continue their de-
alterations.
The negotiations for the purchase
Of 100000 tons of Louisiana sugar at
6.35c basis So deg. delivered New Or
leans by the American, Sugar Rein
ing Co. were concluded during the
about $4,000 tons. The recent severe
freeze, which is estimated to have re,
duced the crop from 100000 tons to
100000 tons maximum, is partly re-
sponsible for the comparatively small
quantity secured by the American
Sugar, Refining Co., but the principal
explanation probably lies in the large
differential between the. price of raws
and The prices of higher grades as
fixed by the. United States food ad
ministration. A recent ruling of the
mum prices for Louisiana sugars on
the following basis: $3.50 basis 96
deg: for raws, 7.25c less per cent for
clarifieds and 1850 less 2 per cen.
/ for, refined and plantation graduated.
1T is understood that some New Or
leans fefiners who still have on hand
some small stocks Of refined manu-
featured from higher priced raws, will
be permitted to dispose of these sma4
stocks at S.35c less 2 per cent. 1t
does not seem probable that any i'm
portant quantity OF Louisiana raws
will be available fors shipment TO
Northern, refining points, as major.
ity Of planters show q. disposition to
manufacture fclarifieds and plantation
graduated rather than raws, because
of the more profitable prices obtain.
able for the former grades.
There has been no change made In
refined prices by local refiners, who
are still selling their tremendously
reduced output at S.35c less per
cent. The scarcity of refined in East
eru markets grows more acute daily.
Domestic beet granulated is not be-
ing shipped into Eastern territory in
any appreciate volume, partly be-
cause of shortage of railroad cars
available, and partly because the beet
manufacturers, are not disposed to
absorb the freight charges cntailed
on such shipments. In many retail
grocery stores in New York and
Brooklyn raw sugars are being sold
direct to consumer at &c to 10c per
h., and are being advertised as
South American Sugars" Inasmuch
as the International Sugar Committee
has fixed the maximum wholesale
price Of raw sugars at 6.90c basis So
deg. duty paid New York, and is will
ing to buy all nearby sugars for sale
on this basis, it is evident that some
importers are either not giving the
International Sugar Committee the
preference on their offerings, or else
are selling at more than $500 basis