The Hawaiian gazette., 1917-01-12
market DULL AT
CLOSE OF YEAR
No Advices Received BY Mail On
Talk Of Increasing Tariff
On Sugar

Apparently no advices were received
jn Honolulu by yesterdays mail giving
further details of the talk in Washing.
ton of an increased tariff on sugar TO
meet the revenue deficit, and reports
received were confined 20 accounts Of
the last weeks business of the year,
ending December 90.
Both Willett & Gray's account Of the
last week Of the year, and advices re-
ceived by local sugar house from its
New York correspondent on the previous
week, tell Of dull market, apparently
the lull before the storm of activity
that must have followed on the tariff
news of December 81. ...... a.. tt
Sales For Week .sHe... 4..G
Sales of raw sugar at New York DUR
ing the week ending December 2S were
80 900 bags Cubas in port or nearby
and 10000 bags prompt delivery, $4,000
bags Porto Ricos early January deliv-
cry, 5000 bags Venezuelas afloat, 5000
bags San Domingos ahoat, and 10000
bags perus about due. Willett & Gray
reported forty.eight Cuba eentrals
grinding, against thirty one last week,
linctytwo last year and tifty.one In
1914. ~.
Stocks in the United States and Cuba
together were l26,339. tons, against
1852 tons last week and 1860 tons
last year, decrease of 1887 tons
from last year. Estimated afoats of
10000 tons included 10000 tons from
Hawaii. ."'.'|
Price Is Steady ~,
Intervention of the holidays" says
the report, Shortened the week, and
the price was quite steadily maintained
NJ 5.l4 cents, and il was expected that
prices would remain steady. The mar.
ket closed firm for the week. ... -.
"The price of refined slowly de-
cIined to the, parity of raw sugars
The New York correspondent of a
local sugar house. writing under date
of December 70, describes conditions as
follows: .r.,.. .t.. gr n~'l
Market Is Dull "a
FThis week has been one of intense
excitement in almost every market but
| sugar Old crop and new crop prices
have come together at last on the basis
Of new crop prices and on Wednesday
and Thursday the purchases by refners
of sugar in all positions amounted to
$50, 900 bags of Cubas, Porto RicOs and
full duty sugars, generally on the basis
Of ~ cents c. & f. for Cubas for the
prompt and first half January position,
and 3A cents c. f. for the later posi-
| tons up to March.
yet in the buying. movement as it Is
felt thai until the buying of refined
sugar begins in volume there will be
small reason TO anticipate requirements
but none the less it. is believed that,
! for the immediate future, the market
viii remain steady and thereafter
prices win be determined by the course
! of events.
( Raw Stocks Decrease
" harvesting of the crop in Cuba has
been very slow in getting under way
| So FAR
''.,tocks Of raw sugar here are de.
rrens ny in spite of the very light
MEETINGS. The Federal aud Arbuckle
r"trrri"s n"r practically closed down
Will" the others are running on the
mlnim&m basis.
Refined sugar is still in very slow
demand and all refners are believed to
! be shading the nominal quotation of
! TG5 cents. The jObbing fraternity are
stiIl waiting for an adjustment of the
basis t. correspond with the price of
raNR and sooner or later that must
come. When il does there is likely to
be quite heavy selling TO the trade az
IN most cases they have been carry
ing along ON a hand to mouth basis.
""Paking the market as a whole we
/ are not inclined to be pessimistic nor
yet do we see any reason for expect
ing anything but u hum-drum market,
barring political developments which
are impossible to foretell. t.. t.,
"a sale announced late today of
5000 bags Cubas atloat and practically
! 'iu distress at 4 lilG cents c.& I,
brings down the Hdwaiian basis to
| sos rpnts -