Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-10-26
CUBA UNABLE
NOW H0RELEVE
SUGAR SHORTAGE
fRx.Nevers { CaIlashanl


NEW YORK. Ort. 1.-THE sugar
! market Eas continued dull and I'M
active adm this week. There has
| been no Change in, the situation since
our last report Holders Of the small
balance of ansold Cuba sugars nave
shown no disposition TO accept 1fse
basis 90 G. e f. during this week for
any of their sugars. and since the lcod
Administrations would not approve az
business done at a higher price, there
has been no transaction reported. we
understand 3rf1 there were sales OF
about 2,oOp IONS Of Cuba sugars mafc
during the week at J.S0c to 1.99c
basis y6g /. o. be- Cuba for shipment %
Mexico and SpSin, IN so far as the
food administration. have prohibited
exports OF efined sugar from the
United States to these and other neu-
trail countries and Cuba is one or our
allies, it seer US probable that steps
may be taken - the administration
to discourage fun her f. o. o. business
in Cuba intended itoE shipment to neu'
trail countries. TnGue appears TO DO
quite a difference OF opinion as re
CARDS the unsoid supplies OF sugars
in Cuba at the p7TAs aSat moment, eStf
mates running ali the way from -.
600 up to $4,000 tons Il at are supposed
to be still availa ble.dcr sale from last
years crop. -
A more conservative estimate OF
this unsold balance ,wotld place the
figures about 10000 IONS, winch GUAM
tity OF course woui O hardly relieve
the situation here very materially
even ii it we're poss 3hls, for local re-
finers to secure the nnuTe amount.
While Cuban holders 20 llIze that TINS
balance is very small and is oaai?
needed by this country, stu each DAY
that passes brings us c loser 10 tue
time when beet sugars al Louisiana
clarifieds win be freely to1ered to exc
out the demand, and it SEE ms evident
that Cuban holders will sooi Ter or later
find it necessary to accept otSc oasis
90 {. & f. for their h,lh tlngs ana
probably a lower basis h,ruid they
over-stay the market The .e.are prob
ably 5000 or 10000 tons OF Phil 'ppine
sugars now en- route TO tie Q nieed
States, but these will not all alr17e
here before the middle OF November. !
On. account OF the lateness OF their
arrival. refiners are not intsESsf to
buy these sugars at present 6vei or
values for fear that by the time OF
their arrival the marketing of beet
sugars in the East at the 725c less
per cent basis would offer co nlpeti-
ton and would make their pure alases
of these Philippines unprofitabl TO
them. There has been no chang E IN
refiners' prices during the week, T'he
American S. r. Co. and b. H. HOY hellsI
Son & Co. continue to quote 8.35c HISS
. per cent while Arbuckle Bros. CT IN |
tinued S.50c less per cent until o.
day when they declined to S.35c lie IS
2 per cent. The Federal S. R. 10. |
and Warner S. R. Co. have been wit D.
drawn from the market. The domestic
demand for refined has been good, |
but refiners have restricted the but
ness for lack of supplies. The Ameri-
can S. r. Co. announced during the
week that they would close down their
II. & E. refinery. Arbuckie Bros. has
been closed down since last week and
other refineries here are running in
a limited way finishing up their re-
naming supplies of raws. '.* :..>
1t is anticipated that should Cuba
persist in refusing TO accept the price
of SIC basis So c.: & f., for their
holdings some OF the other refinerfes Ii
will be compelled to close down very II
shortly. .s.. III