The Hawaiian gazette., 1917-08-04
REE|NERSBUyING
FREELY ANDSUGAR
MARKET is BUOYANT
-
Holders Take Advantage Of Will
ing Buyers and Show No
+ Anxiety For Sales
SUPPLY FROM lava
NO LONGER BUGABo0
British Commission Is Still In
Market and Beet and Louis
lana Output Far of

optimism as To the sugar market
position is voiced in the weekly letter
which-a local agency received this week
from its New York City representatives.
For the past two or three weeks this
representative had shown no enthusiasm
on the sugar situation, especially rela
tive TO sugar legislation but il now
seems 10 be sanguine Of continuance,
at least for several months, of main
tenance of present high figures. This
letter was written July 20 and is as
follows: .@.. g.
Sugar Market ... .
with the advent of more scasonable
weather and the gradual clearing up of
the political fog which has for so long
hung over everything pertaining to su-
gar, refiners, for the present at least,
see their way clear TO go ahead and,
like Farragit damn the torpedOes. "
They have bought quite freely, prob
ably all they could get of July and
August shipment sugars up to five and
fve-eighths cents c. & +. for Cubas
pnd six and hfty.two hundredths cents
G. l. F. for Porto Ricos II is believed
that they would go on at these prices
but sellers are not disposed to forego
the advantage they now have for il is
yet three months before either beet SD
gar or Iouisiahas can have any appreci
Thle effect on the demand and supply
situation. ... r
Market Position Is Strong
SALES today of $4,000 bags Cubas
ex store TO Arbuekle at six aud fifty
eight hundredths cents duty paid and
5000 bags Porto Ricos 10 the American
az six and Gfty.two hundredths afoat arc
looked upon as further evidences of the
very strong position of the raw sugar
market. The British Commission is lay
ing in as much Of the commodity as pos
sible and nobody outside Of a favored
few knows, or will know, how much
escapes the activities Of the submarines
which are daily growing menace. /
3"Whiie much is talked and written
about Javas the mere fact that they
are at the other end of the world, so
to speak, causes one to be very dubious
about the much advertised sale Of 2O0,-
900 tons for delivery to either England
or France, which, by the way. still re,
mains unconfrmed. 1t may be true,
however, subject to a very large "if.'
It is stated today that there have been |
sales of Cubas at FIVE and a quarter cents
. II q
Spectators or. to some neutral country |
Is unknown.
Britain Still In Market
- That the British commission is still !
in the market and will pay 5.IOG. F. o. |
y. appears to be a matter of nOtoriety. |
Sinkings of sugar eargoes during the !
past few weeks have been so numerous
as to compel the most drastic rationing
with the result that the British fruit |
crop of this year may be a total loss |
except what can be Immediately used
or dried for future use but for which |
purpose there are few facilities in that |
normally moist climate.
Cuban Weather Favorable !
I" Figures from Cuba for the week !
ending llth instant are:
HIMELY GUMA /
1..... (NiI ports (all ports
,F tons tons
Receipts ....... lO,9l2 24,602
Exports .....;. 57,5i5 T0,G3s
" stocks ....... .4l9, SS7 6l0,D77 i
Exports No Hat 3d.. 4
teras ....,..... 29,097 1924
exports New Or '..: i
leans, etc ....... G.393 +3,723 |
Exports Europe .. 22,l25 35,09l
1.-The weather j.. Cuba continues to !
favor a large crop for next year, but !
there is some concern over political con |
ditions owing to the proclamation of
material law. The revolutionary fires ,
have only been banked up and may
break, out afresh if a reasonable ex-
eVse is given to the indictments in +,
which case another American 0cctipa-
ton" would be inevitable, a.
"Refned sugar is in fair demand. {
Pie American aud Howell have advane.
ed their basis to seven and sixty-fve
hundredths cents and the Others 10 :
eight cents There is considerable ex-
port business on graduated at from sew !
en- to seven and ten hundredths cents c. -,
o, b. All refiners are two to three ,
weeks behind with their deliveries and |
are using much discrimination before
accepting new orders"
.r@af.aF. H#.. - \ -