Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-03-27
RICOCROP
SALSOSMALLER
THANLAST YEAR
Late Estimates Reduce Earlier
Expectations of Sugar
Output Materially
Especial Correspondence Czarnikow-

4 lSpGclaI correspondence SEdTulhO"-
Rionda Company, liz Wall street,
NEW YORK. n. Y, March 9.-The
strength displayed in our market last
week, and which eliminated on 5th
inst. in small sale of April shipment
Cubas at 4.G25c CT. t5.64cJ, was fol-
lowed by an easier tendency. The
cause may be attributed to an accu.
mutation of sugars in port and afloat
which refinefs were unable to handle
by reason of delays in delivery at their
plants of previous direct arrivals, ow.
ing TO the strikes that have existed
for some time past. f@-sr--s. ~.
But notwithstanding this temporary
depression in prompt supplies, sellers
continued firm in their views for April
shipment, there having been no offer
ings below 450c CT. 15.52c), and only
very moderate quantities even at that
figure. Later in the week. when Cubas
in distress" became available at Also
to 4.25c c.f. (5.27cD, they we're prompt
.,ly absorbed by operators, whilst re-
finers secured limited quantity for
prompt shipment at latter price. i
Porto Rico has continued a free SCI
lCl OF OsI1S " +EOsGINg E6ClINCICu a2NCm
York. Total reported transactions Of
the week aggregate about $1,000 tons
Gubas and 10000 tons Porto Ricos, on
which the spot quotation declined .12c
per lb. to 5.27c, basis So deg. =
Advices received on Wednesday that
the Liberal leader and his staff had
been taken prisoners by the Cuban
government forces, led to a belief in
some quarters here that the sugar
market would decline in consequence
of such news. Although such actual
ly proved the case in futures on the
Exchange, it had no effect upon the
attitude of sellers generally, who ap-
parently realize that the recent large
cane field fires and other handicaps
to operations brought about by the pc.
iitical disturbances, have already had
sufficient effect upon the current crop
of the island to justify higher level
of values for future shipment sugars.
Called adyices of rains in certain dis.
tricts, heavy enough to cause cessa.
ton of grinding by some centrals.
have also had stimulating influence,
as have the recent reductions in the
crop estimates. H. A. Himely has low
cred his December prediction of 8, 1885,.
1929 tons to only 100000 tons for
Cuba's 1861 production, and Messrs.
Willett & Gray have reduced from
45e,000 to AGO. 900 tons their estimate
for Porto Rico, as compared with last
seasons total of 431 .335 tons.
That sellers should hesitate about
offering sugars for shipment beyond
March. in any volume, is quite nat.
ural, If consideration is given tc the
fact that practically all of Cuba's pro-
duction to date, amounting to about
I 600 900 tons, has already been dis
posed of to both United States and Eu- /
ropean buyers. And in the uncertain.
ty as to how much longer the political
unrest will continue, and regarding
the extent Of its interference with the
balance Of their crop, planters prefer
not to enter into commitments for de.
livery of sugars that have not yet
been produced. u
Further moderate transactions have
been recorded during the week in
Cuoas for shipment to Europe at
around the basis of &c fob. There
have also been comparatively gener-
GUS inquiries for refined sugars. but
owing to their labor troubles and pre-.
sent small stocks of granulated
throughout the country, refiners nat.
urally do not care to entertain any ex-
port business at the moment. How
ever, the strike situation seems to |
be gradually improving, and if it so
continues large business in May
shipment sugars can be confidently
looked forward to. II III =. ~.
The recent upward course in values
of sugar features on the New York
Coffee & Sugar Exchange was check
ed toward close of this week by de-
yelopments in the political affairs of
Cuba. Today's closing bids of March
4.38c, April 443c, May 4.50c, June
4.52c, July 4.55c, August 1850, Sep
TENDER 4.5Sc, October 4.4Se, Novem.
Der 4.3Sc and December 4.30c, show
net declines on the week of 10c to tic
per Id. r# s.@'.1 s1siREIE
The receipts for the week at the
three Atlantic ports were 1854 tons,
compared with 1919 tons last year
and 30 7S2 tome IN 1915