Honolulu star-bulletin., 1917-12-27
j, 5, ARRANGES
TOBUY CUBAN
SUGAR OUTPUT
(Continued from page 1)

CONTINUED from page -
TO Europe This brings up the ques'
ton of freight from Cuba. That the
quantity available for handling sugar
is limited Is unquestioned. Again the
rate 10 be charged is an important
item. That the committee has some
hopes of obtaining rate OF 3Oc ls
shown by its announcement regard,
ing the price fixing, when 1t stated
that the price Of Cuban sugar at New
York would be approximately 4.9Oc
cost and freight-(4.90c (. o. b. Cuba
plus 30c freight). However, consider
able difficulty lies in the way OF OBJ
tanning this rate, as at meeting
held with the West Indian freight
concerns tentative figures Of 39c from
north shore of Cuba and 47c from the
south shore were arrived at, and some
adjustment to equaliZe these differ
ences will have to be evolved.
"ln further connection with the pro-
duction in Cuba, our information is
that Cuba has warehouse facilities to
carry about 100000 tons, and that
the factories have available space to
carry an indefinite quantity some
where between 10000 and 100000
tons.
Another important detail to be
worked cut is the distribution Of the
sugar to the different refiners, and as
Porto Rico, st. Croix and San Domin-
60, ETC., are to be included in the dis.
tribution, 1t will involve the handling
of nearly 100000 tons Of sugar.
''In connection with the Cuban ar.
rangemept, the Cuban representatives
have appointed Mr.. Manuel Rionda,
president of Czarnikow.Rionda Co.,
and the Cuban Cane Sugar Corpora
ton, and Mr.. r. B. Hawley, president
of the Cuban-American Sugar CO.. TO
arrange. the details of the Cuban
transaction. We understand that simi.
lar committees, will" be appointed to
work out details OF Porto Rico, San
Domingo, St. Croix, etc.
AS far as the market is concerned
there Is little to. note. On Friday the
International committee secured lot
Of old crop Cubas OF 10000 bags at
5.70c C. & I. (6.72c duty paid, but
they have continued to post the mar.
ket quotations as 6.90c duty paid.
However, now that the Cuban price
is virtually settled, the International
committee practically refuses to pay
above 5.92c duty paid, but as the full
details are not yet settled in ':onnec-
tion with the Cuban price, they de-
cline for the present to make any
transactions whatever. -. II,
"on the other hand the Internatiof
al committee has decided that Philip
pine sugar can be sold direct to refin.
ers. and some SOC tons low grades
have been taken by Warner at 5.75c
basis SO deg. An additional lot Of new
crop Porto Ricos was taken during
the week at price to be fixed 'ater.
The Atlantic ports receipts are
larger this week allowing increased
MEETINGS The figures for the week are
receipts, 1858 tons; MEETINGS, $1,000
tons; stock. 1882 tons.
''Refined-The main item Of inter.
est in the refined situation is the
commencement Of the distribution Of
the granulated sugar, originally .des.
tined Russia, but recently comman
deered by the U. S. government. The
quantity involved, for domestic use,
Is $4,000 tons and as many buyers are
to participate. the individual quaint
ties are small. The price settled on is
S.35c for Granulated and 9.10c for Gu
bas, both less per cent.
''The American at Boston which re.
peiveG 1000 tons of Louisiana raws Is
dlsposing Of the refined manufactured
from these raws at S.15c less 2 per
cent. About December 10.the New
York price Of Granulated will be low
cred to s.15c and by the end of Deeem-
Der Granulated will be quoted at 7.25c
to 7.45c less 2 per cent. depending on
the rate agreed upon for Cuban
raws." r.