The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1917-06-08
.TRENDDOWNWARD
lin SUGAR MARKET
Realization That Cuban Crop Is
lobe Larger Than Ex-
pected Causes Decline

! A steadily declining market for the
second week in May and generally
duh market the following week with,
however, an easier tendency, is report.
ed by Willett 4 Gray in reviews of the
New York sugar market situation. The
week ending May IL is described as
follows in this market report:
Z ~ A steadily declining market in op.
tions on the sugar exchange since last
week, whick decline has been caused by
realization that the Cuban crop would
be much larger than expected by some
Of the Cuban experts, has naturally had
an effect on the market for actual
sugar, and quotations are lower.
at is possible that conditions at
Wayhington, where legislation has been
introduced TO curb speculation in food
stuffs, hes also been contributing
cause TO the decline in options.
Trend is Downward et...#
CAT the close last week, the market
was weak, with sellers of Cubas at 6.27
cents. {ta
"During the entire week, the trend
was downward and sales were made at
the following prices: 6.21 cents for
May and June on Friday; Cos cents
for prompt and for June on Monday;
500 cents for prompt and for June ON
Tuesday. On Wednesday june also
sold for 6.02 cents and at the close
this week the market is much easier
with sales of June at SOC cents to
operators. g. W.
Porto Ricos Sell Up '.... q
Porto Rieos, owing to possibility of
additional duty on Cubas, which would
benefit sugars from Porto Rico, have
sold at relatively full.up prices. Sew
eral sales were made at GA cents, but
at the close Of business is reported at
SOS cents. ga.r.s....l 'ga,. -.7H.I H..
Full.duty sugars, however, have
sold at declining prices, last sales hav-
! ing been at 4h cents c. j. Z. to New
York and Canadian refners.
There has been some interest on the
4. o. b. Cuba basis at ATS cents for
June loading" a, H..a'E.r. ."..a
Sales Are Moderate ILL., ~ F. III
Sales of raw sugar at New York for
the week ending May IL were reported
by Willett q Gray as follows: 247 900
bags Of Cubas, mainly prompt, spot and
May and some June; 10000 bags Porto
San, Domingos, May, and 5000 bags
San Domingos, ,afloat. 4 4 -rE.'
The latest report ON the New York
sugar market by Willett Gray covers
the third week in May ending May "a
and is as follows; ',. srAg -.
1.-THE market closing last week was
/ 500 cents for Cubas at which figure q
few lots of june shipment changed
hands. The spot quotation was not af-
feeted and it remained nominally I'M
changed at 6.02 cents.
Operators Start Fireworks ."
"This week the market generally
has been dull, and during most of the
time with an. easier tendency.
"On Saturday some operators in OPP
tions on the Exchange, apparently TAX
ing advantage of the half-h0liday, en-
deavored to make a runaway market
Ifin options, and in a few minutes bid
quotations of few months up over rs
points. This ill-advised move could not
be sustained more than a short time,
and prices rapidly declined until Is
points of the advance was lost. Since
that time options have declined stead
lily until today, when small advance
occurred. ~. &. ...-..
"Sellers and buyers in actual sugars
kept calm during this period of excite
ment, and prompt and June shipment
Cubas were traded in moderately at
6.02 cents. Later, however, sales of
nearby Cubas reduced the spot market
to 500 cents, and closing there were
sellers of Cubas, both prompt and June,
at 500 cents, and with sales of June at
$50 cents. r. - ..s 49,.
Stocks Are Reduced 49,. 49,
"Cubas on the +. o. b. basis were sold
at AGO cents to 4.65 cents during the
week. w.
- Porto Ricos are quoted at sos cents
sellers. s3 ,.' d. q. . .',r
"Full-duty sugars sold at 47s cents c.
/. f., with sales at the close at 4 1l-l6
cents c. l. Z. t'a =. ~,
"Atlantic Ports receipts were lower
than MEETINGS and stocks declined 25,-
$40 tons to 1926, 594 toms
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