Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-10-26
CUBA UNABLE
NOW TO Relieve
SUGAR SHORTAGE
by Movers { CalEaghanl

| NEW YORK, Oct. 1.-THE sugar
market mas continued dull and i'll
active again this week. There has
been no change in the situation since
our last report. Holders of the small
balance of unsold Cuba sugars have
! shown no disposition to accept $50
basis 90 e. & f. during this week foI
j any Of their sugars, and since the food
| administration would not approve o.
business done at higher price, there
! has been no transaction reported, We
understand that there we're sales OF
about 1000 tons OF Cuba sugars made
during the week at 5.S5c to 5.95c
| basis 90 t. O. b. Cuba for shipment TO
Mexico and Spain. In so far as the
food administration have prohibited
exports OF refined sugar from the
United States TO these and other neu-
trail countries and Cuba is one OF our
allies. it seems probable that steps
may be taken by the administration
to discourage further +. o. b. business
in Cuba intended for shipment to neu-
trail countries There appears to 0e
quite a difference of opinion as re-
CARDS the unsold supplies OF sugars
in Cuba at the present moment, esti-
mates running all the way from 21,'
900 up to 10000 tons that are supposed
to be still available for sale from last
years crop.
A more conservative estimate Of
this unsold balance would place the
figures about 10000 tons. which guam
,Af u-nltI6 I,arHjNy rnIinvn
the situation here very materially
even if it were possible for local re-
finers to secure the entire amount.
While Cuban holders realize that this
balance is very small and is badly
needed by this country, still each day
that passes brings US closer to the
time when beet sugars and Louisiana
clarifieds will be freely offered to exc
out the demand, and it seems evident
that Cuban holders will sooner or later
find it necessary to accept SIC basis
So c. & f. for their holdings and
probably a lower basis should they
over-stay the market There are prob
ably 5000 or 10000 tons of Philippine
sugars now en- route to the United
States, but these will not all arrive
here before the middle Of November.
On account of the lateness Of their
arrival refiners are not inclined to
buy these sugars at present level Of
values for fear that by the time of
their arrival the marketing OF beet
sugars in the East at the 7.25c less =
per cent basis would offer competi.
ton and would make their purchases
of these Philippines Improbable to
them. There has been no change in
refiners' prices during the week. The
American S. R. Co. and B. Fl. Howell.
Son & Co. continue to quote S.35e less
: per cent while ArbuclIle Bros. con-
tinued S.50c less per cent until to-
day when they declined to S.35c less
2 per cent. The Federal S. r. Co.
and Warner s. r. Co. have been with.
drawn from the market. The domestic
demand for refined has been good
but refiners have restricted the bui-
ness for lack of supplies. The Ameri-
can S. r. Co. announced during the
week that they would close down their
H. & E. refinery Arbuckle Bros. has
been closed down since last week and
other refineries here are running in
a limited way finishing up their re.
naming supplies of raws.
1t is anticipated that should Cuba
persist in refusing to accept the price
of SIC basis Sc c. & f., for their
holdings some Of the other refineries
will be compelled to close down very
shortly. -