Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-02-07
EUROPE AGAIN
COMES TO MARKET

OOAhAO ~ AA - - =
Especial Correspondence Czarnikow
Honda Company. ll2 Wall StTeetl =,
NEW YORK. r.. Y. Jan 1y.-The
opening Of the week was quiet, with
cut interest being shown in the prompt
shipment Cuhas available al 4.375c. c.f.
Is. 39c }. although on the 18th inst. that
price was paid for sugars already
afloat. and both New York and Phil
ade1phia refiners bought some for
prompt shipment al the lower figure
Of 4.25c. c. T. (5.27c). Refiners con
tinued as buyers on these terms until
the close. when their views came down
TO 4.25c. C. T. for immediate arrival
supplies, and as offers OF prompt ship
ment Cubas thereat were refused, the
spot quotation declined 12c per pound
from $3.50 TO SIZE, basis SO deg.
Total reported business Of the week
aggregates about %. 900 tons Cubas and
5000 tons Porto Ricos.
Reports that a German raider, oper.
aiing off the coast of South America,
had succeeded in sinking about twen-
~ steamers during the past month.
naturally had a temporary effect upon
freight quotations for February load.
ing in Cuba. Exaggerated fears on
this score, however, have since sub
sided, and February tonnage is yet
cbtainable at between 1880. per 100
lbs. Cuba sugars for February ship
ment are obtainable at Also. c. f..
t5.20c.) for clearance first-half. and at
.O6c. less for clearance till end of the
month, but the quantity at present
under offer is comparatively small.
The feature Of the week was the
appearance of European buyers in our
market for American refined sugars
for shipment during March and April.
the total taken beirg estimated at
around 10000 tons, on private terms.
While Russia is said to have bought
the bulk of tho quantity involved,
France is known to have participated
In the transaction to a moderate ex-
tent at the basis of 5.2Oc. (. o, b. There
have been further inquiries for about
1000 tons of both raws and refined
on Z. o. b. terms, but no additional bust
ness has yet been reported.
AS compared with last year, melt:
ings of refiners at the three Atlantic
ports thus far show a decrease of
23, 900 tons. However, instead of be-
Ing due to lack of demand for the
article, this difference is, to great
extent. accounted for by the lighter
arrivals of the raw product, in which
respect Cuba's contribution is 25,748I
tons behind last years figures at the
date. The latter de-
crease. apparently, is the result of the
of the crop in that is
and, the visible production to 18th
January being estimated as ,11S,174
.ons less than that attained by same
late a year ago. The weather con-
inues favorable for grinding, but re-
:overy Of sugar from the cane is still
lbout per cent below last years re-
Iplts. +
Concerning prospects Of the imme-f
late future it may be said that with
most of our refiners behind in theirl
deliveries, necessarily increased weekj
y MEETINGS from now on are likelya
D absorb practically all the arrivals
rom Cuba and elsewhere for some
weeks to come. and thereby prevent
my material accumulation of stockss
t the Atlantic ports during that pei
iod. II
Quotations of sugar futures on, thel
few York Coffee and Sugar Exchanged
ave continued to decline throughout
he week until today's closing bids of
January 4.31c., February 4.07c., March
Csc, April $3.50, May 3.98c., Junej
.00c., July 4.02c., August 4.03c., Sep
ember 4.05c, October $500, Novem-
er 3.S5c. and December 3.S0c. show
losses from last Friday'sl
inai figures of .04c. in January, 07c.
o lie. in February-September, 23c. inI
)ctober-November and .15c. in Decem-
Ie;.
The receipts for the week at thel
hree Atlantic ports were 41,01S tons,
with 37,700 tons last year,
nd 1857 tons in 1915. II
Our New Orleans correspondents
us this morning that their
market is very quiet, with no offeringsl
Z Louisiana raws. and that deliveries
gainst refiners' contracts are about
There has been practically no
hange in the refined situation, list
rotations being maintained at basis
.75c.. less 2 per cent, at which level
ne trade seems disinclined to anti
ipate requirements for the. present
rice of the domestic beet product is
ED at the New York parity of 6.55c.
, points west of Pittsburg and Buff