The Hawaiian gazette., 1917-01-05
b[[AYEDSTARTN
CUBA CROP MAKES
LULL IN BUSINESS
Firm Market Is Looked For In
January After Price
Adjustment T..
RAW STOCKS ARE Low AND
REFINED DOWN TO MINIMUM
Germany Trying To Increase
Sowing For 1918 and
Fix Beet Price =

Sales Of raw sugar at New York dur.
ing the week ending December u were
g1,10O bags Cubas in port or in store
aud 22O00 prompt delivery, $500 Porto
Ricos prompt delivery and 5000 due
early in January, 1000 tons Philippine
niuscosados due early in January, and
1000 tons 81. Croix due December %.
Willett & Gray reported thirty one
Cuba centrals grinding, against thir-
teen last week, ,sixty.one last year and
forty nine in 1914
Stocks in the United States and
Cuba together were 127,6l2 tons,
against 1884 tons last week and
IaS,S7S last year, q decrease Of 1926
from last year. Among estimated
ahoats Of $4,000 tons was 10000 tons
from Hawaii. The report Of the week
by willett &Gray follows: ,..t
Market Is Quiet N -..s...s.. =. \
HThe week under review was ex-
tfemely quiet and without considerable
business done in the absence of offer
iH9s on an increasing scale. .E ... ~
N"fThe delay in making Of the Cuba
crop, and consequent small receipts at
shipping ports, reduced sellers offer,
iDgs to minimum amounts for the time
being and sustained quotations at
1-3 cents e.. & Z. (5.14 cents duty
paid, with a prospect even of small
advance il the necessities of reflners
required purchases to be made under
present condition of supplies.
con Wednesday it was possible to
obtain AZ cents era Z. (5.27 cents) for.
sugars in store, and sales resulted 70
refners and operators. Later the Al
cents c. a 4. basis was not maintained,
the market prices receding to Az cents
e. q 4. (5.14 cents, on sale 20 Howell
Of sugars in port. .EH. "a !.
Later further activity occurred, some
$1,000 bags spot Cubas selling Amer
ican at this latter basis. February
March sold Howell at 37s cents G. 4 4, {.
l4.89 cehts), and full.duty sugars sold
o. as cents C. !. (. to 3 1916 cents c.
8 T., according to position. ~. ~.
Prices In Adjustment 80" ~ - !
II is well to recall that Just a
month ago prompt sugars were quoted
at $40 cents, duty paid, and new.crop
positions at J.14 cents, duty paid, and
at that time IL was expected that
prompt and new'erop quotations would
come together. This result has been
accomplished, as both December and
January are now quoted at ~ cents
8. 4 {. (5,l4 eeRts), with February.
March X cent lower. After this adj
jnstment in prices, it would seem some
Improvement must be due, if not in
prices mt least in tone. 90 -
fWe are inclined to look for firm
market during January, or possibly up
to first half February, for the reason
that raw stocks will have to be replen-
ished Also the fact that stocks of re-
fined throughout the country are down
to . minimum, and renewed buying in
refined only awaits an adjustment in
refined prices nearer to raws. This ad
justmeht will probably come slowly!
Rshners' Stocks Low Ett.
i'"The small receipts at the Atlantic
Ports are much below even the reduced
MEETINGS, and refners' stocks are de-
creasing., The small exports from Cuba
during the past week indicate small re.
ceipts at Atlantic Ports again next
week, and although MEETINGS may be
further reduced, it looks like another
decrease in stocks. r. 49,. . i.
rive estimate that the lowest hand
to-mouth demand Of Eastern United
States for cane refined is from 5000
20 10000 tons n week, aud the present
demsnd is now closer TO the larger
6gure. This demand is a constant
drain on the small raw supplies. T., 4
Porto Rie0s from new crop have
sold at STA cents 10 New York refners,
and also to Boston refners at same
Now York basis
Cuba Starting Slowly ... ...... /
1.-THE new crop in Cuba is starting
rather slowly only twenty-five Centrals
haYing started on grinding, compared
with hfty-fye on corresponding date
last year. | II
ssBeeeipts Of new crop sugars are
n proportion -i707 tons against 1858
tons last year There have been no
Expectations as yet Of new crop sugars,
efhe stock standing at 1927 tons. Old
crop stock in the Island has been re
duced to 206S3 tons by export of $3.50
to the United States Atlantic Ports.
Stocks Of old aud new crop sugars to-
eether are 70 6I0 tons. Later adyices
report 81 Centrals working, against Oh
at corresponding date last year.
Java Exports Growing - .
HOnr special cable from Batavia re-
ports Java exports during month Of
November OF 10000 tons to Europe and
like quantity 20 Asiatie ports, Since
Beginning Of the crop there have been
clipped to Europe $4,000 tons. against
a53,22l tons during the same time last