Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-10-10
SUGAR MARKET
HASBEENDULL
LAST few DAYS

NEW YORK, \. Y, Sept. 1.-THE
market has remained at standstili
throughout this week and no business
has resulted. Although at the close
OF last week there were evidences oil
buying being resumed by retlners
when one small cargo OF Cubas for
prompt shipment was accepted by a
local refiner at 7-Sc basis So c. q
T.. and additional small sales OF
prompt Cubas we're made at TINS
same basis to Canadian and outport
refiners, further buying was checked
at the suggestion of the food admin
istrator at Washington. In eompll-
ance with the suggestion from the
food administrator local refiners have
been withdrawn from the market
throughout this week.
On the other hand, Cuban holders
realizing this position on the part
Of refiners have made no special ef-
fort to DO business and in conse-
quence there has practically been no
market throughout the week. 1t is
expected that bushes will be resumed
only after the food administration
has completed its deliberations with
the various branches OF the sugar in
dustry, after which an announcement
will be made by the food admins
tration as to the future methods d
operations in sugar in all depart
ments. This announcement is ex'
pected some time next week. At the
present moment there appear to be
limited quantities OF prompt and. &C.
tober shipment Cubas available at
&c basis go c. & f., and indications
are that refiners would probably con-
tinue to buy only the very nearby
offerings at last prices paid provided
their sugars could be obtained at
this price and provided the food ad-
ministrator would sanction the buy
ing. .....
II is reported from Washington to-
today that an agreement has been
reached between the beet sugar in
terests and the food administrator as
regards the marketing Of the coming
beet crop and while full details OF
the agreement are not yet given out,
still IL is understood that a commit
tee Of the beet sugar producers have
agreed On a maximum price Of Use
less 2 per cent, I. o. b. seaboard re-
filming points for their crop which is
now about to be harvested and it Is
expected that this agreement will be
ratified by 100 per cent of the beet
sugar producers. t.
The refined market has also been
quiet, business being strictly on a
hand.to.mouth basis. Refiners' quo
tations have remained unchanged dur
ing this week, all interests quoting
S.40c less 2 per cent for graduated
except Arbuckle Bros. who maintains
5.50c less 2 per cent. The Pennsyl,
vania Sugar Co. at Philadelphia ad
vanced their price on Wednesday
from S.35c to S.40c less 2 per cent.
Arbuckle Bros. announced on Thurs.
day their intention to shut down for
an indefinite period, but will con-
tinue to supply graduated from
stocks on hand. The food administra'
tor announced during the week that
all export orders from our Allies en-
tered previous to August 80 will be
allowed to be shipped under license
OF the food administration. These
orders had previously been held up
by the government and will now be
permitted to go forward. The new
business for export is at a standstill,
as it is questionable whether orders
for export refined that have been
placed since August 80 or that might
hereaftar he placed would be Der-
mitted to be shipped.