Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-01-23
SUGAR STOCK IS
MUCHDEPLETED

Especial Correspondence czarnikow.
Rionda Company, liz Wall ST.
NEW YORK, n. Y. Jan. 1.-The
improvement and consequent rise in
prices that had been anticipated when
our refiners entered the market to
provide themselves with supplies for
their january MEETINGS, materialized
during the opening week Of the new
year. An advance Of 25c q pound
from the cost and freight price paid
for prompt Cubas on 2Sth ultinlo was
perhaps more than had been original
ly expected In so short an interval.
but the actual scarcity Of sugars at
the Cuban shipping ports as shown by
exports during the week of only 5000
tons to United States Atlantic ports,
and a shortage In CuDa's December
production approximating $4,000 tons
as compared with that Of 1915. result
ed I'm very small offerings of January
sugars, and particularly for shipment
during the first half Of the month.
This state Of affairs brought re-
timers into the market for all Of the
stocks remaining In the hands of i'm
porters here at prices Of 4.3ic to 4.375e
CT, or 5.33c to $3.50 duty paid, and
the close finds interest being shown
in .fiEst-haIf January shipment Cubas
at the higher level for the limited
quantity stfll available in that POSI-.
ton. whilst all January shipment Is.
offered at 4.$75c CT $3.50 and in
Instances at 06e less. ", D w.
The recently narrowing margin be-
tween prices of raws and refined has
Induced a very. fair demand from the
trade, whose stocks are now practi-
cally depleted, and this situation fore
casts MEETINGS this month at least
equal to those of last January, when
1S6 1000 tons OF raws were melted at
tie three Atlantic ports and 1900
tons at New Orleans. ~.
United States Beet Crop FIX.
Z Owing to the effect Of unfavorable
weather conditions upon the results
attained by the factories that have
already finished their production this
season. Messrs. ,Wfliett e Gray have
this week reduced their previous es-
innate of $4,000 tons to one of u.s.
900 tons as the probable outturn of
sugar during the current campaign.
Last seasons outturn was 779,756
Cuban Production sS:1'. . "
Messrs. Gurna. afejerss crop figures
to December 81, 1916, compared. with
those Of the two preceding campaigns
reveal deficit, OF 48,l55 tons (56 per
cent? as compared with 1915, and 49,.
D68 tons ia per cent? as compared
with the combined average production
In December or the last two years.
Although the weather is favorable for
grinding in Cuba, complaints are pre-
valent sall over the island Of much
lower sucrose in the cane than was
the case year ago. condition which
applies particularly 10 the western
section Unless there be material Inn
in this respect the ultimate
output Of the crop may be greatly az
Iected. but as operations there have
only Just about commenced, there is
Df course ample time for a favorable
change to take place.
Trading in sugar futures on the
New York Coffee and Sugar Exchange
has been carried on this week at
steadily rising values, today,s closing
bids Of January lido, February 4.23c,
March 417c, April 4.19c, May 4.21c,
Tune 4.23c, July 4.26c, August 4.27c,
September 4.2Sc. October 4.24c and
November Lilo, being .12c to zoe
higher than last weeks final bids. De
.ember. 1917. opened son I'd inst. at
l.i5c and has advanced .05c per ID.
New Orleans Sales Small
I Our New Orleans correspondents
us this morning that the
very light receipts of the past week
we're all against contracts with reffn-
srs. They advise small sales as made
yesterday. at 5.05c. basis SO deg. for
prompt delivery. and that there are
further buyers but no sellers thereat.
Refined Price, Il Lower
Another reduction Of .10c per 1b.
his week brought list prices down to
basis 6.75c. less 2 per- cent. At the
close there appears evidence In some
circles OF slight Improvement In the