The Hawaiian gazette., 1917-05-18
SUGAR MARKET
MARKING Time
New York Buyers Waiting To See
What Events viii Bring
Forth Before venturing

. I'D e. 81 u. ~ .
Nothing Of particular bearing on the
market has developed during this week,
reports the New York correspondent Of
a local sugar house, under date of May
4. Rcfners have done nearly all the
buying that has been reported, and
prices have ranged from 5 3-l6c to
Is l.4c c. & r. for Cubas, while Porto
Ricos have fluetuated between 6.OSc
and 6 3-l6c G.. L, +. A sale today Of
Cubas TO the American for their Phila-
delphia refinery was made at ) 1-4c. G.
& r. for $500 bags, but an unsold cargo
Of Porto Ricos is nearby and its sale be-
ing urgent price Of 6.0Se G.. l. +. is
thought possible. These periodic sales
Of distressed sugars are inevitable
so long. az Porto Rican sugars continue
10 be shipped here unsold, and espec-
tally so now that storage facilities are
at a premium aud demurrage rates sky
high There is not much Cuban sugar
offering and, es = rule, the asking price
is 8 3-Se G. q r., while refiners and
operators appear to be willing to buy at
5 lac. The British commission is said
to be still buying in a small way for
June shipment At 4.75e to Assoc +. o. b.,
but their wants for the present appear
to be supplied. The probabilities are
Tint purchases for that account will be
very moderate, for the all important
question of tonnage grows from day to
day. With regard 20 the taxation for
war purposes, IL seems to be generally
agreed that, for the time being at least,
sugar viii be left out Of consideration.
Cuban Weather Good ..t%&
For the past week the weather in
Cuba has been very favorable for har-
vcsting and the output is said to be sat
isfactory both as to tonnage and per.
centnge of sucTose. .j.,.s .
Figures for last week follow--six
ports only; r..E ..
.f3 . Himely Guma
/ 8ss Tons
Receipts - ......... 99,500 92,954
Exports ..s...,.,...... 64,5O0 63,470
stocks .'...... ...!576,000 563, 239
Exports north of Hat. s5tt
| teras .,..,,,,.... 22,5OO 2s,S09
Exports to New Or
l leans .,....... $4,000 1908
Exports, to';Europe. w. 1900 l7,158
Z; II is well to note that visible produe.
tion in Cuba 10 2Sth April is 2O39 ,O55
tons against 2,s56,292 tons last year
end 1.7S0,797 tons in 1915. 1t remains
Ito be seen whether there is cane enough
! in the fields 20 enable the factories to
duplicate last years output provided
the weather continues favorable. We
are quite skeptical on this point, be-
Icause, as we have already indicated,
we believe the cane is much inferior in
sucrosc, and besides the months of high
lest sucrose content are past. 4
Since the foregoing was written the
4 American have taken 10000 bags Porto
Ricos' which have been on offer since
yesterday at 6.l4c G I. f., which ap-
lpears TO have cleaned up the market as
nothing else is now known to be press
ling. 8,a skl4sHnIR s~B1.E +.
4 Refined sugar has been in moderate
demand all Of this week. The Amer.
lean are still quoting 7.50c basis and
taking as little business as they can
help. Howell is quoting but selling in
a very limited way at Sc basis, while
oil the others are out of the market
with their ideas for basis around
\ 3 LIE 10 g. 3s4c ~ g. q.