Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-02-20
CUBAN OUTPUT IS .
BEHINDLAST YEAR
Especial Correspondence Movers &
Callahan, Wall Street,

-
NEW YORK, y. Y, Feb. a.
The parket has been rather inactive
during this week and the moderate
transactions reported were at UNI
changed prices as compared with last
weeks close. Following the business
In nearby Cuban at . 7-Sc basis So
deg c & at the end OF last week,
holders showed disposition al the
opening OF this week to ask &c basis
sc deg & for Cubas in early posi-
tions. However. realizing that refiners
were reluctant to do further buying
On account OF the disturbing labor con-
ditions and finding that certain re-
finers who were affected by labor
strikes were reselling some of their
surplus in port and afloat Cubas to
ether refiners 3 7-Sc-basis 90 deg a.
+, holders modified their views an
accepted this price for their holdings.
the business, half OF which included
refiners' resales. amounted to about
$4,000 bags Cubas in port, afloat. and
for January clearance, and temporar-
lily cleared the market of all offerings
in these positions at this level. There
the offerings Of Cubas became un-
seasonably scarce and although there
were not ready buyers at all times,
yet between refiners and operators
sufficient interest developed from day
to day TO take care of the very limited
quantities of Cubas for prompt, Feb
ruary and March; shipment that ap-
reared at rs basis DC deg & +,
fore, at the close of the week have
foreign political situation adversely
affected the market. Offerings. there
forte at the close Of the week have
slightly increased in quantity and
while there is no great anxiety to
sell, nevertheless buyers are hesitat-
ing owing to the uncertainty of the
future as regards international devel-
opments Small sales of Porto Ricos
in nearby positions were made early
In the week at 4.75c and later in the
week at 4.75c basis deg elf. Moder-
ate quantities of Porto Ricos in the
February position have been offered
unsuccessfulIy during the week at
4.75c basis So deg elf, with no special
interest shown, as the principal buy
ers Of these sugars are either inter-
fered with in their operations by labor
strikes or are at present melting
chiefly for export, and could not at
the moment handle non-duty-paying
supplies to advantage.
The weekly cable from Cuba ON jan
uary 29 reported 167 Centrals grinding
and total receipts of 10S,034 tons, as
compared to 1863 Centrals and 146,347
tons receipts at the corresponding
date last year The exports amounted
to 81, 793 tons to u. s. Atlantic ports,
6571 tons to New Orleans and 1929
tons to Europe. The stock at shipping
ports amounts to 143, 6S4 tons, us COM
pared to 207,972 tons and $4,000 tons
at the corresponding dates in 1916 and
1915 respectively.
Refiners still continue to quote do
nestle granulated at 6.75c less 2 per
cent. The wide differential. of 172
points between raws at 1880 and re-
fined at 6.75c less per cent to re-
strict buying of refined to such an ex-
tent that only a very moderate do
nestle business Is done daily on a
strictly hand to mouth basis. Although
the Americans III. & E" refinery and
the New York refinery to Messrs. b,
H. Howell. Son & Company are the
only refiners closed down on account
Of labor strikes. yet uncertain labor
conditions in other local. as well as
output, refineries have restrained re-
timers from encouraging more active
domestic business by the reduction OF
prices Refiners' firm views for re-
fined for export have also discouraged
the foreign business to some extent.
Closing quotations ON the Sugar
Exchange today are: February $3.50
3.90c, March 3.S4@3.S5c. April 3.S4@
S.Soc, May 3.s593.S6c, and July 1900
3.S2e