Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-03-20
FEW OFFERS OF
|. APRIL SUGAR ARE
in MARKETS
Especial correspondence, Gzarnikow-

(Special Correspondence CzarnikoW-
Rionda Company, liz Wall Street)
NEW YORK, ". Y, March 2.-After
the decline of last week had resulted
in sales of prompt shipment CuDas az
as low figure as 4c c. I. l5:uzc),
signs of resistance to any further con-
eessions became noticeable. And upon
the receipt Of adSices from CuIa bot
only showing an absence of material
improvement In the political situation
there. but reporting more general
burning Of cane fields, especially in the
eastern portion Of the island, our mar
ket assumed decidedly firmer aspect,
with prices of sugars in prompt and
March positions rapidly advancing to
1850 c. I. (5.S9c).
For the more distant April ship
ment, however, scarcely any offers
have been put forward, doubtless ow-
ing to fears on the part Of planters to
contract for delivery of sugars not
already manufactured, and desire to
follow the safer plan of limiting their
offerings for the present to such sup
plies IS are actually in hand and ready
for shipment.
AS quite natural under the circum-
stances, our market has proved very
sensitive to the rumors and reports OF
conflicting tenor from time to time
making their appearance, but recent
public press announcements confirm
ing earlier private accounts OF heavy
losses of cane through field fires, have
again restored confidence to the ex-
tent that at theaclose there are buyers.
but no sellers, of Cuhas Tor March
shipment at last price OF l.S7bc c. I.
(5.39c).
Porto Ricans have continued their
policy of disposing freely or their
product at the ruling level OF values,
as disclosed by reported sales of that
description during the week. aggre-
eating about $4,000 tons sugar for
prompt March shipment at prices rang
ing between 1880 and 5.14c, basis So,
delivered at New York. These sellers
have since raised their views to sic
per ID.
During these troublous times in the
island, published figures of the Cuban
production are, Of necessity, very
vague but private cabled adyices to
hand from a number of plantations
, would indicate that all are still grind
ing, though at materially reduced ca
pacity. Such retarded production oe-
curing at the period when the cane
lis richest in sdcrose, viii in itself have
decided effect upon the final output
of the factories, even though they
might be in a position to continue
/, grinding until comparatively late In
the year, when the yield always be-
comes much lower
The annoying strike situation at the
United States Atlantic ports now
seems to be showing slight improve
ment, but weekly MEETINGS are yet
much below the rate maintained at
this time last year. Exports of re-
fined sugars against outstanding con-
tracts with European countries having
consequently been delayed. return to
normal conditions at the refineries viii
doubtless witness heavy shipments
abroad, which, in conjunction with an
imperative need for prompt replenish-
ment Of stocks by the domestic trade,
will severely tax refining facilities
here and create an. active demand for
the raw supplies needed to Keep them
going at maximum capacity.
Under the stimulus Of reports con-
corning the possible effect Of existing
political disturbances in Cuba upon the
ultimate output of the islands current
sugar crop, trading in sugar futures
on the New York Coffee and Sugar
Exchange has been very active, at
rapidly climbing values. Today''s clos
| ing bids Of March, 4.55c: April, 4.54c;
May. 4.60c: June, 462c:: July, 4.65c;
August 4.ssc; September. 4.7lc; DC