Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-08-11
SUGAR MARKET remains QUIET
But RETAINS Strong UNDERTONE

lat SIC fob. Cuba July.August ship.
ment. .~
Canadian refiners bought today 200
tons Cubas in store at 5 1850 in
bond. 49," IT. ..s--@
Full-duty sugars are now offered at
SIC elf. ..
As We go to press the net advance
of lsc for the week is fully sustained,
and with few II any offerings at sac
&c. & (. (6.S9cl. Some holders are
asking &c {. & I.
Refined-The week opened with quo.
tations on the basis of 7.65c by Amer.
lean and Howell and Sc by Arbuckle,
Federal and Warner, but on Monday
both American and Howell advanced
TO 7.75c basis. Other refiners remain.
ed unchanged until Tuesday, when
Federal advanced TO S.25c and Warner
withdrew from the market.
On Wednesday Federal further ad.
yanced to S.50c basis, at which price
they are firm.
Today Arbuckle opened at 8.25c for
.hards and S.0Oc for soft sugars.
In view OF the advancing raw mar.
ket we are inclined to look for still
higher prices In refined.
There Is no change to report In
shipments, which are still badly de-.
layed with all refiners.
Eastern business Ii not affected by
recent offerings of California new
crop beet IN Chicago and west. Au.
gust delivery, sellers option, at 1850
New York basis.
The export demand has been active
during the week and large sales have
been made at prices around 7.20c net
cash, IN bond, but sellers views are
now considerably higher. Refiners ara
not interested In August shipments,
and there Is very little sugar obtain.
able from second hands in this posi-
ton. Refiners quote second-half Sep
TENDER shipment at the nominal price
Iof 7.4oc fob New York in bond.
War Revenue 5lli-0ur advices from
Washington, ID. c., under date of July
Is, 1917, report that 1t had been sup
posed that the passage by the senate
Of the food control bill would open
the way for unobstructed considera-
tion Of the revenue measure, and the
finance committee was on the eve of
AS11SfOAkA1S bH6 ISN6uu6a Oil Wl6u a
sudden halt was called yesterday by
the unexpected demand Of Secretary
of the Treasury McAdoo for an In
crease CT five billion dollars over the
81 $50, 900 900 which the revenue bill,
as framed, now carries. He did not
officially indicate how much more 1t
would be necessary to raise BY taxa
tion. but the impression has gone out
that he will urge an increase of APP
|prOximately one billion dollars. The
committee has decided to hold the
bin Until the secretary can make his
estimate When this estimate is re-
ceiyed the finance committee will en-
ter upon its work of bringing in
bill to produce greater revenue than
had been contemplated. Where the
increases are to come from, nobody
pretends to know, nor have there been
any intimRtions as to whether there
may be further recommendation con-
corning sugar. whether there may be
an increase in the rate of direct taxa
ton texoise) or the levy Of an in
creased tariff duty or whether the
question may be left where it now is
and the five billions be raised partly
by short and partly by long term bond
issues. The general tendency is to-
ward an increase Of income taxes and
there is an indisposition in the senate
to enter upon tariff legislation at this
time.