Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-04-18
SUGAR MARKET
GROWSSTRONGER

Especial Correspondence, Czarnikow'
Rionda Company, liz Wall street,
NEW YORK, n. Y, March ga
decidedly firmeT and more active mar
ket has prevailed throughout the past
week. After refIners and operators
had taken all the sugars available al
4.5ec 10 4625c C. Z. al the close Of last
week the views of sellers were ma
teSially raised, so that at 475c C. (.
C5.71c) only a moderate quantity was
cbtainable. However, when &c c. I.
t6.02cD was reached, aside from sales
aggreeating about 5000 bags thereat.
there developed a greater accumula-
ton OF offerings than had occurred at
any previous level Of values this week.
and the slightly easier tone which
naturally followed was responsible for
q temporary withdrawal Of :efiners
from the market. But operators con.
tinued 10 promptly absorb the small
parcels that were put forward at any
concession, and at the close sale OF
April shipment Cubas was made to
refiners at 4S75c c. I. (5.S9cl, there
being further buyers thereat, but only
q limited quantity available at .o6c per
ID. higher. 3d.,
Total reported transactions OF the
week are in the neighborhood of 10000
tons Cubas, 10000 tons Porto Ricos
and 5000 tons nonpreferentials, on
which the spot quotation was ad
Vanced SIC per ID. TO $3.50, basis 96'
The business In Porto Ricos was at
prices advancing from 5.52c TO 5.64c
10 SITE delivered In New York.
A very active domestic demand for
refined sugars. together with an eager
foreign inquiry for the same product,
were the principal causes Of the adj
vance in prices. Business for export,
however, has been restricted by the
reluctance of United States refiners
TO enter into commitments for the
shipment OF large quantities during
the next two or three months, owing
to their inability to find Cuban sellers
OF the distant deliveries of raws II
would be necessary TO simultaneously
purchase as cover against such sales
Of refined. The only actual sale re-
ported for export this week consisted
OF 10000 tons that Canadian refiners
are understood to have booked at the
basis of 6.25c I. o. b.
AS regards Cubas. only very slight
transactions have been made for April
shipment at 4.50c to 455c { O. b. En-
ouires for May-June shipment have
been plentiful. but Cuban holders have
displayed no desire to sell so far
ahead. II. has been reported here this
week that United Kingdom purchased
$4,000 tons Of White Jayas for prompt
shipment.
Cabled adyices received today from
Cuba state that very heavy rains are
falling in various western sections of
the island. Recent reports give the
political situation as improved, but
state that the burning of cane fields
still continues. In comparing the
quantity Of cane burnt this year with |
the published figures of 1y313.S11 tons /
OF cane similarly affected last cam:
paign. attention might well be called
TO the fact that It Is only in cases
where burnt cane Is left unground for
more than ten days that II sours and
becomes worthless Consequently, as
last years burning spread over the en-.
tire grinding season, little ct q time,
the. factories were enabled to grind |
nearly all the damaged cane, with |
practically negligible loss being sus. |
tanned. On the other hand, the much |
larger amount involved this season be-
ing all burned, Withins o sc0mparntiEely |
short period the great bulk OF K has |
been irretrieyahly lost 10 the factories. |
through lack OF time to cut and grind |
Il before decomposition started, there
by materially reducing their produc
tion.
This great destruction OF cane will
undoubtedly increase expenses OF cut
tiyation during the summer months. as
the farmers must necessarily devote |
all their energy and financial re- |
sources 10 the rehabilitation Of their
burnt fields, aud DO little, n any. plant /
inc for the coming crop. which II an. |
itom not 10 be overlooked when est. |
mates Of the 1918 crop begin TO be
made.
Trading In sugar futures on the New
York Coffee and Sugar Exchange has
been very active this week, at steadily |
advancing prices. Today's closinR I
bids 81 April. 4s2c; May, 4.97c; June.
5.0Sc;. July, 5.0Sc; August, size; Sep.
TENDER, 5.lIc; October, 5.lOc; Noyem.
Der, 5.00c; December, 4.S5c, and Janu-
airy. 4s7Sc. show aggregate advances
ranging from Csc In January to- .36c
In October.
The receipts for the week at the
three Atlantic ports were 1856 tons.
compared with 1880 tons last year
and "a 1Q7 fone an, 1ofE