Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-07-25
BRITISH Buying
.CUBAS HEAVILY
(By Nevers & Callaghan.)

NEW YORK, July 13.-At the open
ing Of this week the market ruled
steady with buyers for store or ship
mRnt Cubas at the basis of 5-5I16C
basis 90 c.&f (6.33c) and with 1GC
higher obtainable for outport priv
leses. Cuban holders, however, re.
fused to- sell freely at these prices as
the British commission was Indicating
a willingness to continue buying july
and August shipment Cubas at Sc
basis go fob. Following some lim
tied transactions in store and prompt
shipment Cubas on the basis of 5-5/lGc
basis go c.&f the market developed
a decidedly firmer tendency and wheH
several local retiners became free
buyers of prompt shipment Cubas thew
found it necessary TO pay steadily adj
vancing prices in order to secure
requisite quantities out the selling
did not reach large proportions until
SIC basis go C.&f: was reached. At
this level the transactions in CubaR
from store and for July, August am
September shipment totaIed about
100000 bags, but as previously proved
to be the case when this price was
reached, more sellers than buyers APP
peared thereat, and the advance was
checked. At the close there is still
a moderate quantity Of Cubas avail
able on the basis Of SIC basis sc:
o.&f. without finding buyers.
Throughout the week moderate
sales of Porto Ricos were made on a
gradually advancing scale from $3.50
up to $3.50 basis 90 elf as is noted
below. All the full-duty paying sugars
which appeared for sale at 5-1/4c basis
go elf. found ready buyers on this
basis, principally among Canadian re-
timers.
The British commission continued,
during the early part of the week
buying Cubas at &c basis 90 fob. for
July/August shipment, but after taking
some 1O,00015,000 tons declined to
take some further quantities which
were offered at this price. 1t was re-
ported that the commission had bought
a large quantity Of Javas, variouslT
estimated at from 100000 to 100000
tens, at price believed to be equiva
lent to about 2J5c fob. Java. No
official confirmation Of this transac-
ton has been forthcoming. but it IS
qQuite generally believed that a con-
siderable quantity of Javas were pur-
chased by the commission, as other
wise the United Kingdom would have
to draw on Cuba to such an extent as
to leave comparatively little Of the
remainder Of the Cuban crop available
for United States needs. That the
British commission has been draw
ing for supplies in greater proportion
on Cuba than on lava is evident from
the numerous Inquiries being made Ill
this market by Java shippers. and it
seems quite possible that some of the
latter sugars will find their way to
United States markets during the
coming autumn, provided freight room
is Ohtainable. Bids on Javas for
July August shipment tprobably Octo-
be- ARRIVAL at +.7oc q S4.75c basis
81 C&f are now being solicited iG
this market.
Some further moderate transactions
in refined for export have been made
during the weeA amounting to prob
ably 10000 tons at prices in the neigh
borhood of &c in bond. The domestic
business has not been large, as refin.
ers refuse to sell freely at SOC less
% and there is very little business in
evidence at over this price. The Am
erican s. r. Co. still quote 7.5Oc less
2rc but restrict the business which
they will take at this price. Arbucklc
Bros quote 7.75c TESS . and the
Federal S. R. Co. and Warner S. Il.
Co quote SC less go.
David F. Houston, Jr. son Of the
secretary Of agriculture. has won