The Hawaiian gazette., 1917-03-02

'taN hfNNh NhhAhk y tIN ~
ported by Willet & Gray as totalling
10000 bags Porto Ricos and Cubas---
10000 Porto Ricos, aAoat, nearby and
February delivery, and 10000 Cubas,
10000 for February delivery and the
balance prompt.
Stocks in the United States and
Cuba together are reported as 1871
tons 262,15l tons last week and 357,'
CAL tons last year, decrease of $3.50
tons from last year. Cuban figures are
reported; receipts, l2l, 200 tons; ex-
ports, SO, 1913 tons, and stock, l9S,7S1
tons against 254,555 tons last year.
Willett & Gray report the trading for
the week of February s as follows;
Diplomatic Break Dominates
"While all developments regarding
actual sugar tended toward easier con
ditions, the result of these conditions
was only temporary, as they were over
Swallowed by the complications due to
the United States severing diplomatic
relations with Germany.
''Cubas on Friday declined to 4.S3
cents, but reacted on Tuesday to 4.S9
cents ON small sales, since when hold.
ers advanced their views to 500 cents
or else withdrew entirely. .'a. D.. +
1.-THE conditions that caused the
easier market, such as continuation Of
labor difficulties at five refineries in
New York and Philadelphia; very fa1
vorable conditions in Cuba, where the
crop has increased on last years pro.
duction until it is now only l1S,000
tons behind last year at even date Of
January 81; and the accumulation of
raw stocks by refners at New York,
due TO decreased MEETINGS owing to
labor difficulties, still continue, but as
remarked above political conditions
seem to have had the most influence.
Sales Are Moderate ~ N31' "a
Sales during the week have been
moderate, and as we go to press the
offerings are light at 500 cents with
but little interest by buyers. -
"Porto Ricos during the week de.
clined to AGA cents, but later reacted
to AT cents on output sales.
"Full-duty sugars sold moderately at
3& cents elf" ."'..' r.. ..'~
During the week of February Is, sales
of raw sugar at New York are reported
by Willett & Gray as $4,000 bags
100000 Cubas, afloat prompt and some
February and March; $4,000 Porto
Ricos, afoat, prompt and February, and
1000 bags San Domingos, afloat. Re-
viewing this week, Willett 4 Gray
state: FRTN
"The market last week was under the
influence of political conditions caused
blythe severance of diplomatic relations
between the United States and Ger
many. Market quotations were nominal
at that time at 4.S9 cents, but sellers
were either holding for much higher
prhPs or else withdrawn entirely. p
Cubon Situation Sways Market
This week conditions in Cuba have
been the influence affecting the market.
Reports from this country stated that
several uprisings of revolutionary
nature had occurred, and these reports
were sufficient to cause an exciting and
advancing market.
"Options on the sugar exchange were
rapidly bid up until 4.45 cents was bid
for February aud !. = cents for March.
! On "Wednesday IL still further advance
vas established on the exchange to 4.59
cents bid for February and 4.54 cents
bid for March. With these prices OBJ
| tainable for sugar in store at New
| York, under exchange rules, holders of
sugar i'll Cuba refused to sell at less
| figure than 5.}9 cents to 5.52 cents.
" ReAhers were not participants in
the upward NOV ement during the great.
or part of the week, but were salts
fed to look on awaiting developments,
and leaving the market to the opera
tors
con "Wednesday retiners and opera
'"rs obtained some $4,000 bags afoat,
February and March Cubas at $50
cents.
Port" Ricns were also sold to opera
tors at 500 cents, sos cents, 5.l4 cents,
$50 cents and 5.27 cents.
"The market as We go to press Is
strong with buyers at 3 81 cents for
prompt positions and with very little
Offering. ~.", ~
1.-THE Atlantic Port receipts are again
much larger than the MEETINGS and
stocks are increased to 1918 tons. "
e.