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THE CUBA REVIEW 



THE SUGAR INDUSTRY 



sugars, or raw sugars, second or third sugars, 

 sold direct for manufacturing purposes or for 

 consumption. 



Rule 6. No refiner of sugar dealing through 

 brokers shall pay any such broker a com- 

 mission in excess of one-fourth of 1 % of the 

 value of the raw sugar, and a refiner dealing 

 through brokers in the sale of refined sugar 

 for consumption in the United States shall 

 pay such broker a commission equivalent to 

 the present and prevailing rates of brokerage, 

 but in no case to exceed 5 cents per 100 

 pounds on any sale, excepting, however, that 

 a higher commission may be paid for any 

 special service, if first approved by the 

 United States Food Administrator. Any com- 

 mission in excess of the commissions herein- 

 before prescribed is hereby determined to be 

 unjust, unreasonable and unfair. 



Rule 7. No refiner of sugar shall sell any 

 refined sugar at more than a fair and reason- 

 able margin. The United States Food Ad- 

 ministration will determine from time to time 

 what margin is fair. 



Ride 8. Molasses and syrups shall be sold 

 according to the customs of the trade in the 

 various producing centers of the United 

 States, but no molasses or syrups shall be 

 hoarded, as defined by the act of August 10, 

 1917, known as the food-control act. 



HERBERT HOOVER, 

 United States Food Administrator. 

 Approved: WOODROW WILSON. 



REFINED SUGAR EXPORTS FOR 1917 



Government reports now available show 

 the exports of refined sugar during December 

 for the whole United States totaled 10,244 

 ordinary tons, as against 19,637 tons in 1916. 

 With this figure now available it is possible to 

 indicate that the total exports of refined for 

 the calendar year of 1917 amounted to 505,- 

 367 tons, as against 816,481 tons for 1916, or a 

 decrease of 311,114 tons. 



Of the total exports for the year 428,680 tons 

 were shipped from Atlantic ports of which 372,- 

 790 tons were shipped from New York. The 

 year's exports from New Orleans totaled 65,- 

 836 tons. 



The figures show that the major portion of 

 refined exported in 1917 went to France, and 

 amounted to 186,406 tons, as compared with 



235,418 tons in 1916. The United Kmgdom, 

 which took the largest proportion of the re- 

 fined exports in 1916, or 296,204 tons, re- 

 ceived only 59,447 tons in 1917. 



Among the exports to other countries for 

 1917 were 38,204 tons to Norway, 24,794 tons 

 to Italy and Switzerland, 13,979 tons to Hol- 

 land and Belgium, 28,042 tons to Spain, 

 71,914 tons to Argentina, 23,354 tons to 

 Uruguay and 20,017 tons to Mexico. 



PLAN TO FINANCE SUGAR 



Representatives of New York banks which 

 have been asked to undertake the financing 

 of Cuba's sugar crop are considering plans 

 for the proposed transaction, involving 

 .1100,000,000 or $150,000,000. President 

 Hawley of the Cuban-American Sugar Com- 

 pany and President Rionda of the Cuba 

 Cane Sugar Company are in Havana, where 

 they will consult with President Menocal 

 of Cuba and with various Cuban financiers 

 and planters' organizations. 



The New York bankers are willing to lend 

 money on sugar, but the chief difficulty en- 

 countered is the apparent division of control 

 over the property by reason of the position 

 of the International Sugar Committee of the 

 Food Administration. If the Cuban planters 

 had sole control over the sugar crop, the bank- 

 ers would be able to lend them money on 

 sugar placed in warehouse, or svigar in transit 

 from Cuba to New York. Inasmuch as the 

 International Sugar Committee exercises 

 control over the sugar, but at the same time 

 lacks corporate entity and its legal standing 

 remains unsettled, the bankers are reluctant 

 to enter into a loan transaction. It is under- 

 stood that the matter has been turned over 

 to counsel for opinion and that as soon as 

 the legal phases of the proposition are settled 

 the bankers will decide upon the details of 

 the financial operation. 



This year's Cuban sugar crop is expected 

 to exceed 3,600,000 tons. The International 

 Sugar Committee is said to have contracted 

 for about 2,500,000 tons and has an option on 

 700,000 tons more. Among the institutions 

 interested in the financing are the Guaranty 

 Trust Company, the Bankers Trust Company, 

 the National City Bank, the First National 

 Bank, and the Chase National Bank. 



