Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-03-16
SUGAR MARKET IS
HIGHLY ERRAT|C
ON VARYING NEWS
RaWs Are influenced BY Cuban
and War News and Strikes
Affect Refined Price
Especial Correspondence Nevers &
CaIIaghan, 80 Wall Street,

Especial Correspondence Nevers d
CalIaghan, 80 Wall Street,
NEW YORK, y. Y, March Am
uncertain and cratic market has
ruled during this week and although
conflicting influences have entered
into consideration TO sway sentiment
favorable and adversely from time to
time, still the general feeling has been
sufficiently firm to force an upward
trend OF prices Sales OF Cubas for
March shipment at the close OF this
week az f%c cat. and of Porto Ricos,
also fer March shipment, at 5.l4c basis
SO deg. elf, show advances Of 3-i6c
for cuhas and .J2c for Porto Ricos
as compared with prices paid at the
close OF last week for like sugars in
these positions On account OF an ac-
emulation of sugars in nearby posi-
tions and the stability Of refiners to
handle same because of strikes, some
pressure to sell developed early in the
week, resulting in moderate >sales OF
Cubas in port. afloat and for prompt
shipment at &c basis, So deg. c.&f., and
of. Porto Ricos in port at 4.S9c basis
sc deg. eff, representing respective
declines of 3-l6e and l2c from pre-
yious prices paid.
Following this business offerings be-
came scarcer and on unfavorable
news from Cuba regarding the politi-
cal disturbances there, the market
suddenly assumed a firmer tone. re-
sulting in further moderate business
in Cubas afIoat and for shipment at
( TIC basis sc deg. c.&f and in Porto
Ricos at 1850 and 5.02c basis 90 deg.
elf. Holders then further advanced
their ideas and business ensued from
day TO day to refiners and operators
at 4ssc basis SO deg c.&f. for Cubas
and at. 5.14c basis SO deg. elf for
Porto Ricos, all for prompt and March
shipment. The Cuban political situa-
ticn has had direct bearing on the
tendency of the market which grows
firm and then wavers as alternate re-
ports are received. advising better or
poorer prospects OF q prompt temina-
tom OF the uprising. At the close the
market is steady at last prices. Dur
ing the week.. sales aggregating over
10000 tons or -CdBas were made at 4c
basis Sc deg. fob Cuba for March
lCdOIuS 10 III OHcTuJOT tOE tofOlBu ~
count. presumably to be shipped to-
England.
Rather abnormal conditions have
prevailed In the refined market, re-
finefs' quotations ranging from &c to
Sc less 296 for graduated. The ina
bility of refiners to make prompt de-
liyeFies, on account Of the accumula-
ton of previous orders on their books
due to strikes. makes It difficult to
do business. Although distributors
and manufacturers are generally bare
of stocks Of refined and are anxious to
obtain immediate supplies, still re.
finers are not in a position to guaran.
tee very prompt shipment, and in con-
sequence the trade, who are already
covered with contracts, are not dis
posed to do further buying at the pre-
yailing prices without assurance as to
when they win receive the sugar.
Strike conditions are understood to
be improving with refiners now affect
ed, all reflneries that we're tied mp
now being in. operation with reduced
capacities. Refiners are not in q po-
sitien to accept export business in re-
fined for prompt shipment, but some
expert refined business is being done
from second hands al $500 to &C net
cash fob.