The Hawaiian gazette., 1917-03-23
Sugar and Plantation News
CUBANICONDlTI ONSs STILL
4 DOMINATE SUGAR MARKET

'ssugar from the West, from New
Orleans and even Canada has been snip
ped where the scarcity was grensestl
so that the sugar famine is no longer
acute. ..s
1.-THE fact that Il has brought very
large cargo BY steamer from New Or
leans and has announced its intention
TO sell this sngar at the dock to those
Who win furnish their own conveyances
10 take IL away Is an incident of the
fight between the company and its OK.
employees.
. Quotations are from seven cents
ITO eight cents basis. The American
and Howell quoting the first named
basis and the federal the last, with
Arbucklc and Warner splitting the diff
florence at seven and a half.
1.-THE exchange murket has been
feverish all of this week and has had
numerous ups and downs, for some Of
which there was no accounting. Today
IL opened about ten points under last
night's close and before one o clock
was up again the ten points and some.
thing more, II is believed that there
haS been much hedging from Cuban
Sources &4,1
Unsold Sugar Accunulates
/, Under date of March ], Willct q
Gray report that ON the previous Sat
urday February 24) the market had
a declining tendency due principally to
two facts, the rapid loss of strength OF
the Cuban rebellion and the aceumula-
ton Of unsold sugar afloat and in port.
Holders at that time by reducing their
views to SOC cents induced several
buyers to come into the market with
the result that some 10000 bags were
disposed, Of at that price. The report
continues. kR III -sr Wt t
"On Monday, however, advices from
Cuba reported several important en-
counters with the insurgents in which
/, many men were killed and wounded,
and these reports, added to by rumors
of much property damage, induced IN.
creased buying on the exchange, and
prices were rapidly bid up about thir-
ty points, and holders of actual sugars
either withdrew entirely or else ad.
vanced selling prices to the parity of
exchange quotations. ~
"Since that time the market has
been strong, with offerings generally
limited. Sales were made on Tuesday
to Federal at 5.27 cents for afoat
sugars, aud on Wednesday at 5.3g
cents for late March shipment. ,
Porto Ricos Active ... Co.,. III
seToday Z March y the market open
ed up firm with sales of prompt Cubas
at $50 cents and with no further
sellers below 5,52 cents. @
! PHowever, at noon cable advices
were received from Guantonamo, Cuba
which seemed to indicate q quick set
Element of the political difficulties il
the eastern end of Cuba, and prices OF
the exchange rapidly declined Rbou
fifteen points, and, although recover!
in prices followed, the actual suga
market became easier, with sellers a
4 $40 for all positions. gIJ.a .. r..
| "Recent sales to the extent of 10,
900, tons of March Cubas are reported
at four cents Z. o. b. Cuba. aa h'
] "Porto iRicos have been fairly nc
tive, sales having been made ct 4.S'
cents, SOC cents and afterward at 81
cents. -. ,'A ~ LOT. ... =. =.
/ "Full.duty sugaro followed the nd
vance in Cubas and after sales on Sat
lurday at 1916 cents c. !. T. advance,
. to 5-l6 cents G. i. f. on sales of SR
I Domingos to Canada, {" ..',.' .
/ Willett & Gray report sales for tn
week of approximately 100000 bags
= about 256.500 bags being Cubas -fo
prompt or March shipment and 1890
bags being Porto Ricos afioat or promp
shipment with some for March dc
livery. 70 =