Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-01-20
HONOLULU STAR BULLETIN, SATURDAY, JANUARY 20 1911
CUBA CENTRALS
STARTUP SLOWLY
Special Correspondence Nevers L
Callaghan, 90 Wall Street.

Callaghan. 90 Wall Street.
NEW YORK. y. Y. Dec 29.-The
observance OF the Christmas holidays
| shortened this week to four actual
market DAYS. Although a few small
| sales OF Porto RiCos in nearby posi-
! tons were made early in the week
! at 5.02C basis SO degrees G /. f.. repre-
! senting a decline OF. .l2c as Compa red
! with previous sales of these sugars.
! Vet holders of Cubas, following a
! moderate business at the close OF last
week for Cubas in port. afloat and for
! prompt shipment at l-l6C oasis SO
degrees c & T. C5.0ScD. advanced their
ideas TO I l.Hc basis 90 degrees c. &
! T. for Cubas in these positions. AL
though business at l-Sc basis 96 de-
grees G. & f. for nearby Cubas was at
first only possible in a limited way
TO OutpOrt refinerS, yet holders were
encouraged by the scarcity of offer
ings and the light exports from Cuba
during the past two weeks, and re-
manned firm at this asking price i'll
anticipation that the steady hand TO
mouth demand that the refiners were
daily experiencing for refined would
soon necessitate further early buying
OF raWs on the part of local refinerS,
on account Of the present depleted
condition Of their melting stocks.
Even though refiners had reduced
their MEETINGS to a minimum and were
holding refined prices up at such an
unusually wide differential over Iaws
as TO discourage speculative buying,
of refined. still the compulsory daily
demand was Of sufficient proportions
to cause refiners to actively enter the
market for raws near the close Of the
week at the 1-Sc level for Cubas.
resulting in sales OF 10000 to $4,000
bags Of Cubas in port and for prompt
clearance at 1-Sc basis SO degrees
c. & e., which advanced the spot
quotation once more to 5.14c, and
cleared the market Of all offerings
at this level Following this business
holders OF Cubas advanced their ideas
to lac basis SO degrees c. & I. for
nearby parcels and at the close Of the /
week one small parcel of 5000 bags
Cubas from store sold to a speculator
at the equivalent of this price, advanc-
ing the spot quotation to 5.27c.
For lack Of any refined business in
forward positions, refiners confined
their attention to very nearby parcels
and consequently moderate offerings
of Cubas for January shipment at
41-16c and for February and March |
shipments at &c basis 96 degrees c. & |
f. we're neglected.
The weekly cable from Cuba on De- |
cember 26 reported 4S centrals grind |
ing, as compared To Il centrals at the
same date last year. The exports. !
all to the U. S. Atlantic ports. only |
amounted to 1900 tons. Today the |
of centrals at work has been |
increased to So, as compared TO 80 |
at the corresponding date last year.
A further readjustment of refined
prices was effected during this week, !
an initial decline of 10 points to 6.95c |
less 2 per cent for graduated an
nounced at the opening of the week
by all refiners being followed by an i
additional cut of another 10 points |
to 685c less 2 per cent later in the
week. The market still continues
more or less irregular, as it is under
stood that concessions Of 5 points
have been and are still obtainable on /
fine graduated in 100pOund 1
bags from certain refiners. The do
mestic demand continues fair for i'm.
mediate requirements only, as the
trade is awaiting further adjustment u
of refined prices to conform more
closely to raw values before placing
orders for stock Export inquiries
continue in evidence but only small
business has been done this week for
foreign account Export prices Of re-
fined are generally 5.15c to 5.25c net
cash for prompt and January ship
nents and so to 5.15c net cash for
February and March shipments. II