28 THECUBAREVIEW. 



SUGAR REVIEW. 



Specially written for The CUBA REVIEW by Willett & Gray, of New Vork. 



Our last sugar review for this magazine was dated January 8. 



Cuba Centrifugals were then 2^c. c. & f. 96 test, equal to 3.73c. duty paid, and 

 are now 2 9/32c. c. & f., the former low level of 2 5/16c. c. & f. in January having 

 been passed by l/32c. per lb. 2 9/32c. c. & f. is equal to 3.64c. duty paid for 96 test. 

 The spot quotation was then 3.73c. per lb. and is now 3.64c. per lb., showing a decline 

 of .09c. per lb. 



Present quotation for Cuba Centrifugals is l/32c. per lb. less than the low point 

 of the last season and the tone and tendency is now in the direction of a slight 

 further easiness, with possibility of 2^c. c. & f. being quoted in the near future. 

 The present basis is 47c. per 100 lbs. below the parity of Hamburg beet sugars. 

 The quotation for beet sugars in Europe is now 10s. per cwt., against 10s. lj/2d. 

 January 8. 



The Cuba crop is now in full grinding, 168 Centrals working, leaving but one 

 more to begin in a few days. Receipts at shipping ports naturally begin to show 

 large increase and, at such times, the lowest quotation of the season are usually 

 made so that from about the present low level of the month of February a steady 

 improvement may be expected until finally the difference in parity between Ham- 

 burg beets and Cuba Centrifugals will be closed. This difference is now 47c. 

 per 100 lbs. 



The present method of selling refined sugars giving only 7 days for delivery 

 regulates the trade to an even steady demand, whereas formerly on the 60 and 90 days 

 basis, the market was subject to many periods of abnormal activity and abnormal dull- 

 ness. This steadiness tends to keep the values of refined steady, also, in the absence of 

 any particular movement in raw sugars, but may, also, at the same time have a deterrent 

 effect upon the business in raw sugars, as refiners are not now obliged to provide 

 raw supplies for abnormal sales for future delivery. This fact, together with the 

 uncertainty relating to the tariff changes tend to decrease the activity in raw sugars. 

 The tariff agitation will commence in Congress early in March and whatever changes 

 may be in contemplation by the Ways and Means Committee are entirely unknown 

 outside of committee. Unless a duty should be placed upon coffee and tea, of 

 which there is some talk, the change in the sugar schedule will be little or nothing, 

 with the exception that 300,000 tons Philippine sugars will certainly come in free 

 of duty to the United States. Some persons think that several years may be required 

 to increase the Philippine crop from its present size of 150,000 tons to 300,000 tons, 

 but our own opinion is that two years' time will be amply sufficient to produce such 

 increase, after which the question will arise as to what will become of further crop 

 increase. At that time, it will be necessary for our government to develop a method 

 of apportioning the 300,000 tons free of duty to the different producers of sugar in 

 the Philippine Islands on some plan such as is now in operation in Russia pertain- 

 ing to the export of its surplus production by each refinery. It may be that the 

 Ways and Means Committee may cover this necessity in their bill, but the subject 

 has not been broached up to the present time. It seems easy now to look forward 

 into the probable consumption of sugar in the United States during the current 

 campaign and to note several circumstances which tend to indicate a very consider- 

 able increase of our consumption. One such item is the absence of any considerable 

 amount of domestic beet sugars in the country, showing that whatever the consump- 

 tion may be it must depend almost entirely upon the refining of raw cane sugars. 



The tone and tendency at the close is to 2^c. c. & f. for 96 test Centrifugals 

 as being at or very close to the bottom level. 



New York, Feb. 6, 1909. 



Sugar Notes. 



The will of Tirso Mesa y Hernandez, a imported into continental United S'tates in 



native of Cuba, but a citizen of the United the fiscal year 1908, Cuba contributed $58,- 



States, who was shot and killed on No- 000,000 worth, Porto Rico $19,000,000 



vember 29 last on his sugar estate in Ma- worth, the Hawaiian Islands $40,000,000 



tanzas Province, was filed in the Surro- worth, and the Dutch East Indies $11,000,- 



gate's office January 3, New York City, and 000 worth. 



disposes of an estate valued at $1,500,000. Jacinto Alsina Roca, one of the wealthiest 



The estate is bequeathed to Eustaquio Car- sugar planters of this province and owner 



doso. of the Santa Rita sugar mill, died, January 



Of the $133,000,000 worth of cane sugar 23, at Mauzanillo, after a severe illness. 



