Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-03-28
STRIKE DANGER
DECLINE
Especial Correspondence, Nevers &
Callaghan, 80 Wall street, :"

Especial Correspondence, Nevers &
. CaIlaghan, 80 Wall street, r.
NEW YORK. n. Y. March 1G.-An
Irregular and uncertain market has
ruled during this week and although
the trend has not been very. pro-
poInced either upwards or down
whrds, still advances Of 3-l6e for
Cubas, to 1-2c basis Sc c. and I.
-(5.52el and OF Csc for Porto Ricos, to
539c basis SO C. l. T., established early
in the week, were subsequently lost
and closing quotations today are I'M
changed on Cubas at 5-l6c basis SO
{. and T. (5.33e) and .13c higher on
Porto Ricos at 5.27c basis So C. /. T.,
as compared with last weeks close.
With offerings extremely light at the
opening of this week and refiners
showing more buying interest, on &C
count of the Improvement in their
labor difficulties, the market de-
yeloped a firm and advancing tend
ency, resulting in moderate sales OF
Cubas for March shipment, first to
operators at 3-8e and later to rein.
ers at 47-16c and 1-2c basis So C.
and f. On the upward movement re-
timers also accepted 100-125,0OO bags
Porto Rcos for March and early April
shipments at $3.50 basis So c. /. T., or
.25c above previous levels that had
been paid for Porto Ricos in these
positions. These high levels, however,
were only temporary, as the market,
under the influence of increased Of
ferings, prospects Of a railroad strike
and pressure to sell an accumulation
of nearby sugars, Immediately de-
veloped an easier tone. Small sales OF
Cubas afloat and for March shipment
at Lice decline, 7-16c basis go c.
and T., were followed by further small
sales of Cubas in port and afloat at
A 3-Sc and later at 5-16c basis 90 C.
and T., while moderate quantities of
Porto Ricos for March and early April
shipment sold at SIZE basis So c. l. I,
Messrs. Guma-Mejer have announced
that in their estimation, owing to
the destruction of cane, interruption
in work and poor yields, the present
Cuban crop will outturn less than
3 zoo, 900 tons, which shows reduction
of 572, 900 tons from their original esti-
mate published last December.
The refined situation has improved
very materially during this week as
regards deliveries by refiners. Due
to the Improvement in labor condi.
tons and the consequent increase in
melting operations, several refiners
are now in position to make reason
ably prompt deliveries In conse.
quence, the trade is not placing orders
as largely as 1t was when refiners
were restricting the business, and is
apparently content to bide its time
pending deliveries of refined already
purchased Under the improved con-
ditions the former premiums are no
longer obtainable for emergency de-
liyeries and the Federal S. R. Co., who
were naming &c. less per cent, are
row offering refined at 7.50c less 2
per cent. Arbuckle Bros, who were
withdrawn on account of the strike at
their refinery, are now operating and
reentered the market during. the week
as sellers of refined also at 7.50c less
2 per cent. The American S.. r. Co.
and National s. r. Co. continue to
quote &c less 2 per cent, but are still
somewhat restricting business and the
Warner S. R. Co. are withdrawn from
the market ......t.s