Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-11-17
VAR BUYING OF
SUGAR IS Plan
Being MAIURED

NEW YORK, Nov. Throughout
the past week the market remained
dull and unchanged with no transac-
lions reported, as trading was held IN
allowance pending the deliberations OF
the international Sugar Committee
which has been in season here this
week.
Under date of October so, 1917. the
international Sugar Committee made
the following announcement:
Until further notice. the Interna-
tionaI Sugar Committee determines
the basis to be {. 90c delivered duty
paid for 96 centrifugal sugar. New
York. No basis is yet determined for
other refining points.
Under date of October 81, 1917, the
international Sugar Committee made
the following announcement:
..Mr. Henry G. Mott having severed
his relation with the American Rein
ing Company is hereby appointed BY
the international Sugar Committee its
agent to arrange for the purchase Of
raw sugar. Brokers are invited to
make their offers accordingly.
While it is generally understood,
that the full details Of the plans for.
buying and distributing sugar for the
duration of the war, have not been
fully completed, it will be noted that
Mr.. Mott will do all the buying OF inn
ported raw sugars in this market. Il
is expected that the international
Sugar Committee will offer price for
new crop sugars which will prove
attractive to sellers, and that purt
chases and shipments will be made in
accordance with the tonnage avail
able. The latter phase Of the situaS
ton is of extreme importance IS Y
does not seem probable that the
United States Shipping Board will
assign more steamers to the sugar
business than is necessary to carry
the requisite supplies from month to
month, and this will undoubtedly re-
suit in large accumulation OF sugars
at the points of production.
The negotiations pending with the
American Sugar Refining company
for 100000 tons of Louisiana sugars,
mentioned in our review of last week,
have not yet been concluded. It Is
estimated that sales totalling approxi-
mately 100000 bags of Louisiana
sugars have been made during the
week to the other New Orleans re-
finers at $500 basis So delivered.
Since the maximum selling price for
Louisiana clarified sugars has been
advanced by the United States Food
Administration from 7.25c to S.35e
less 2 per cent, most Of the planters
who are in a position to do 50 will
make clarified sugars to sell at S.35c
less per cent, rather than raWs to
sell at 6.35c basis So.
Messrs. Guma- Meier have published
their final figures for the Cuban crop
as 3,023,720 tons as compared to B.
006 900 tons last year. II. A. Himley
has also published his final figures
for the year, viz. 3,019,a36 tons as
compared to 3.006,62 tons last year
There has been no change in re-
fined prices during the week, and the
few refiners who have sugar to sell
are quoting S.35c less 2 per cent. The
quantity available at this price, how
ever, is trivial, and an acute shortage
exists at present in Eastern territory
The domestic beet crop, because OF
the shortage in railroad cars is not
moving eastward in sufficient vol
ume to afford any relief The food
administration announced that some
26. 500 tons of graduated previously
sold and awaiting shipment to the
British Commission have been re-
leased by the buyers and will be dis
posed of to the domestic trade. Me-
gotiations are pending with several
neutral countries to likewise release
Is 500 tons now held here awaiting
shipment.
people. would be entirely out Of sur
roundings IN the new Cashier.