Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-10-22
:: Business And Financial News ::
SUGAR MARKET
BEGINS TO SHOW
MORE ACTIVITY

NEW YORK. Oct. 4,-Cuba-The
entire island: Receipts, S,30l tons,
against 1853 tons last week, 1885
tons last year. and 5,61S tons in 1915.
Exports, 2S.465 tons; stock. 1l2,06o
tons, against last year. 297,176 tons.
Centrals grinding. estimated, ?;
against, estimated, last week, last
year and in 1915.
Stocks in the United States and
Cuba together of 174,367 tons. against
203.050 tons last week and 441,992
tens last year, a decrease Of 267,625
tons from last year.
Raws-The week. while showing I'M
changed prices at 7-Sc c. & f. $500,
has shown little more activity. Sales
of moderate amounts have been max
ing almost daily to local refiners and
also to Canadian refiners. The great
er part of the business to local refin-
ers has been to cover export sugars to
our Allies and Z. S. government needs.
The Atlantic ports receipts are b.
$50 tons, with MEETINGS at $1,000 tons,
reducing stocks to 56,02S tons. We es-
innate that there are about 10000
tens of Cubas abloat to Atlantic ports
which, with Hawaiians on the way,
gives a total supply owned by Eastern
refiners of 10000 tons. There are
about $4,000 tons of Cubas unsold IL
Cuba. If the $4,000 tons of unsold
Cubas are secured by our refiners,
there is sufficient supply Of sugars
to last refiners about for weeks at
present rate of MEETINGS.
If the Cuban holders of unsold sugar
decline to reduce their views, these
sugars will remain in Cuba indefinite
~, as it is not likely that the food
administration will allow local refin'
ers to pay their asking prices or COM
pete for these sugars, thus causing an
advance in prices. If these $4,000
tons are not secured by our refiners
their supply is CORRESPONDENCE reduc-
ed.
It is reported that the royal commits
sion has recently purchased 100000
tons of Javas, October-December ship
ment, at around &c f. o. b. Java. Prob
ably the recent announcement that the
United States government would COM
mandeer the American steamers in the
coast-wise trade and use part or all of
same for European traffic, has en-
abled England to spare some steamers
for Eastern trade and thus allow the
above purchase C Java sugars.
Refined-American and Howell re-
duced their quotations to $3.50 basis
on Monday. Pennsylvania quotes
S.35c. Federal is still withdrawn.
Warner offered what grades they had
at S.40c basis until this afternoon
when they withdrew. Arbuckle quotes
S.5Oc and is still in the best position
to ship.
The Savannah refinery quotes S.50c
an advance of 10 points during the
week.
The Use, price New York basis,
went into effect On the LIST inst, COW
ering all points west Of Chicago and
St Louis, both beet and western cane.
Denver wires that beet sugars in
that city are 7.25c plus 55c freight,
regular terms. IT,.
In the East the demand is only mod
crate and limited to actual require
ments. 1t is difficult to buy below
S50c. 49,.
The export situation remains I'M
changed. with new business at
standstill. Some sugars could probably
be obtained from second hands at
1850 to 740c, net cash, in bond, if ex-
Uort licenses could be secured.