32 THECUBAREVIEW 



SUGAR REVIEW. 



A Visible Crop of 1,344,000 Tons Already Made— Outlook Favorable for a Steady 



Improvement in Market Values. 



Especially written for The CUBA REVIEW by Willett & Gray, of New V'ork. 



Our last sugar review for this magazine was dated May 7. 



At that time, Cuba Centrifugals, 96 test, was quoted at 2 9/16c. c & £ for June 

 shipment, and 3.86c. per lb. for spot and near-by shipments. 



The quotations at this writing are 3.89c. per lb. for spot and prompt shipment, and 

 2 9/16c. per lb. c & f for late June shipment. This shows only a slight rise in values for 

 the month in our home market and the foreign quotations for beet sugar show a similar 

 course in the European markets. 



May 7, beet sugar opened at 10s. 4^d. for 88 analysis f. o. b. Hamburg, rose to 10s. 

 7Hd. by the 17th, declined to 10s. 6^d. on the 19th, then steadily advanced to 10s. 

 8i4d. on the 22d., and has since reacted to 10s. 654d., at which it closes. 



The parity of Centrifugals is now 33c. per 100 lbs. below beet sugar, but little progress 

 having been made in bringing Centrifugals to the level of beet sugar values. This will, 

 no doubt, be done in the future either by the rise in Centrifugals or by a decline in beets. 

 However, the limit of advance in Centrifugals may prove to be the price obtainable for 

 Javas which are likely to supply the deficiency in American supplies pending the marketing 

 of the next Cuban crop. At the moment Javas for June-July shipment might be bought at 

 11 shillings c & f, equal to 4.13c. landed for 96 test. 



The course of the market at present is largely influenced by the results reported weekly 

 from the Cuba crop. At this writing, there is a visible crop already made of 1,344,000 

 tons, requiring only 56,000 tons to complete a crop of 1,400,000 tons, including an amount 

 held on plantations necessary for the local consumption for the remainder of the year. 



The sugar schedule of the tariff bill has passed the Senate as it came from the House 

 of Representatives and will probably go through the Conference Committee and become a 

 law without material change. Quite an effort was made in the Senate to do away with 

 the No. 16 Dutch Standard of color and, also, with the 7i^c. per lb. differential on refined, 

 but these amendments were rejected, the former by 11 votes only, and notice has been 

 given that this amendment may be voted on again. There is no expectation of a general 

 reduction of duty rates. 



Regarding European beet crops, it is expected that there will be an average of about 

 2% increase in sowings as a whole from last year. Russia may increase 7%, but cannot 

 export but 300,000 tons to convention countries. 



An important feature of the sugar trade for Cuba is the opening of the big new 

 refinery of the American Sugar Refining Company at Chalmette, near New Orleans, La., 

 which must draw a large part of its supplies from Cuba. 



There is, also, a project talked about which may or may not be put through of a new 

 sugar refinery at Norfolk, Va., to be supplied with sugar from Cuba, by cars loaded M^ith 

 sugar in bulk and transported from Havana to the terminus of the new railroad in Florida,, 

 and then by rail to Norfolk. We merely mention this as showing what progress is making 

 in some minds to facilitate the turning of raws into refined by new facilities. 



Our refined sugar market is now quiet, the trade generally being fairly well supplied. 

 Large fruit crops are now coming in and consumption of sugar should continue to show 

 increases. 



Altogether, the outlook is favorable for a steady improvement in market values after 

 the present surplus stocks have been absorbed. 



New York, June 2, 1909. 



The Sugar Mills of Cuba. through the clouds of steam, redolent of 

 Eastward from Havana for hundreds cane juice, boiling molasses, and from' 

 of miles there is little to be seen but time to time the sulphurous gases from 

 the miles and miles of sugar-cane, each the little locomotives moving back and 

 estate dominated by its "house," or fo^'^l^ ^1°"" ^^^ ^'"^^^'' op^^'^^' ^'^'^^^ ^^"^ 

 enormous mill for grinding.. At night dim workmen stand at their various sta- 

 one of these mills looks like some great tions, or move_ to and fro upon their 

 fortification, or more like one of the Eng- diverse occupations. The gigantic ma- 

 lish cathedrals, with its picturesque sky- chinery plies its ponderous arms, con- 

 line towering high in the air. All its verting the rivers of cane into juice, 

 salient points are accentuated by arc flowing along m streams into tanks, then 

 lights. The massive machinery within is pumped up into the converters, where 

 illuminated by incandescents gleaming it is boiled to the thickness of molasses. 



