The Hawaiian gazette., 1917-12-28
some UNCERTAINTY
STILL EXISTS IN
NETWORK MARKET
Variation In Prices Is still Appa-
rent and Brokers Find Points
That Need EXPLAINING
REFINED SHORTAGE IS
GROWING LESS ACUTE.
Demand From France and Eng
land Not So Inslstent As For
merIy and Feeling Is Better

- -
---. lt,-s
Sugar conditions In New York mar
ket appeared TO be adjusting them
selves to the new price fixing arrange
ments at the opening of this month al
though there still existed uncertainties
which sugar brokers and dealers desir-
ed 10 have explained. These facts are
indicated in the letter which was re-
ceived this week by a local agency
from its New York Representatives. The
letter was dated December s and said:
s'During the week now drawing to
a close there haye been considerable
sales Of raw sugar either to the inter
have obtained the permission Of the
Nearby sugars have been taken on a
basis Of 6.72c duty paid but the inter
national committee has continued to
post the market quotation as 6-90e duty
paid. This last price, however, we un-
derstand, has no bearing on the raw
sugar price but is the starting point
for fixing the basic rate for refined
sugar.
First Porto Ricos ss.g.. .is.g
can additional quantity Of 1900 tons
new crop Porto Rico for December
shipment has been sold 70 the interna-
tional committee by Guanica Central
at price to be determined later.
pWhether new crop Cubas is to be
sold on duty paid basis of 500 or
some other figure depends upon, il
would appear, whether the Cuban seller
is willing or not willing to absorb
some part Of the freight. Today a
sale TO Canada is reported of 5000 bags
Peruvian eentrifugals working out at
q basis for duty paid Of 6.6g35 cents
which, of course, does not affect the
Hawaiian basis.
"It is interesting to note that Phil
ippines due here about the fifteenth
instant were taken for account of local
refners at the former posted basis of
6.90c, and in this connection the fol
lowing Announcement to the Trade
No. q by the international committee
throws some light on the situations:
" First We wish to call attention to
the meaning Of the term "basic
price" used in our announcement of
October 30, 1917. The basic price -
the price upon which the refners' sell
ing margin must be based. While this
price win represent the price Of 90 CEN
trifugal sugars delivered duty paid,
New York, on the average, it will not
necessarily be the actual price at which
such sugar can be bought on the day
it is posted. .G .a...t...
I" 'Second-Under. the refners' con-
tract Of October /, 1917, with the Uni
ted States food administrator, the pur-
chases arranged by the international
sugar committee are confined to the
West Indies, including Cuba, Porto
Rico, San Croix, Santo Domingo and
Hayti and also all other import sources
sueh as Peru, Brazil, Fiji, Formosa,
Costo Rica, Mexico, etc. :
"'Third--Aside from the domestic
sugars in the West Indies described
above, refners are free, under the con-
tract of October ], 1917 to purchase all
other domestic sugars including those
Of Louisiana, the Philippines and Ha-
vail
lCnban Crop Conditions 4
fCentrals grinding in Cuba are now
twenty-one as against nine, twenty
four and twenty at the same approx
mate date in 1916, 1915 and 1914 res
peetively. The weather is cold and
dry so that the cane is ripening rapid
ly and we may look for a rapid Increase
soon in the number Of Centrals oper-
ating. o.. 49,. ~ . 4
Refined Sugar .~ ~ :H.' /
1.-THE famine in refined sugar has
been somewhat relieVed in the past
few days by the distribution of about
$4,000 tons bought here for Russia.
France does not seem to be in such
desperate need as was reported some
weeks ago for 5000 tons of this sugar
was 10 have been shipped there but
was released for immediate use here
against similar quantity to be shipped
to France in January. Neither does
England appear to be in sore need for
sugar for il is reported there are at
least 100000 tons more than at the same
time last year. ....... /. 49,, ILL.,
Steamer passengers arriving here
within the past few days are said to
have brought with them as much as
twenty-five pounds apiece. The price
is 50 much lower on the other side and
the supply apparently so abundant
that people were tempted to bring
enough with them to surprise their
famine Stricken friends over here.
Lower prices for graduated are promis-
ed when the Louisiana cane and West
ern beet sugar now en- route arrives,
and in anticipation IL is expected that
rehners win voluntarily reduce their
quotation TO 8.15 next week as this
price is more in keeping with the eur.
rent quotation for raws"
H NV! - = -