T H E C U B A R E V I E W 35 



to fix sugar prices, although enough authority is conferred under the licensing section for him 

 to obtain the results desired. 



Mr. Herbert C. Hoover has been appointed Food Administrator by President Wilson, 

 and .Mr. Hoover has in turn selected Mr. George M. Kolph, of the C. & H. Refinery, to head 

 the sugar department of the Food Administration. The first move of the Food Administration 

 as regards sugar, was to close the sugar future market in Xew York, and to request the liqui- 

 dating of all outstanding contracts. 



In re-reporting the War Revenue Bill to Congress, the Senate Finance Committee voted 

 to abolish the drawback on sugar. The leading sugar refineries of the United States have 

 addressed an open letter to Congress stating their reasons for such a provision being dropped 

 from the bill. What action Congress will take on the pending consumption and floor taxes 

 and on drawback remains to be seen. 



On August 17th, cane refiners, representatives of the beet producers and the raw producers 

 of Cuba met with the Council of National Defense in Washington and formulated a plan for 

 supplying the United States Government with its requirements of about 100,000 tons of sugar 

 per annum for use cf the Army and Mavy, the sugar to be supplied in monthly instalments, 

 the price to be fixed by the Food Administrator. Beet sugar manufacturers have been in a 

 conference wilh the Food Administration and have reached an agreement to sell their 

 product, beginning about October 1st, at 7.25c. cane basis. 



The excise tax of 3^c. as proposed, if passed, will be in addition to the above mentioned 

 voluntary beet price of 7.25c. 



On August 27th, President Wilson, imder the power conferred upon him in the Espionage 

 Law, issued a proclamation extending the exports control to cover sugar, among many other 

 articles mentioned. There is some talk going around to the effect that exports will be pro- 

 hibited, if the cane refiners and the Cuban producers do not meet the desires of the Food 

 Administration for lower sugar prices. 



On September 5th, the Food Acbninistration Committee and practically all the refiners 

 in this country had a meeting in Washington and refiners and the Government came to an amic- 

 able agreement that they would be perfectly willing to establish a volimtary maximum price 

 on cane refined sugar, but that owing to pending legislation in the War Revenue Bill in which, 

 sugar is taxed, the refiners stated that they could not speak positively on the question of a 

 maximum price, until they could acertain to what extent they would have to pay taxes. The 

 refiners and the Government also came to an agreement in which a committee would be 

 appointed by Mr. Hoover to purchase all the raw supplies needed at our several refineries 

 and to apportion to each of them their share. Refined is very quiet with closing quotations 

 at 8.40c. to 8.50c., less 2%. WILLETT & GRAY. 



Xew York, September 6, 1917. 



REVISTA AZUCARERA 



Escrita especialmente para la Cuba Review par Willelt & Gray, de Nueva York. 



Nuestra ultima resena para esta publicacion estaba fechada el 7 ds ago5to de 19 17. 



En esa fecha, el azucar centrifugo de Cuba polarizacion 98° se cotizaba a G^^c. costo y 

 flete, pero la continua demanda por el azucar refinado, tanto para el uso del pais como para la 

 exportacion, asi como mia rapida di.sminucion de las existencias visibles, ocasiono alzas muy 

 marcadas, y los precios de los azucares de Cuba aumentaron rapidamente a 6J^c. costo y flete 

 el dia 7, y a 6Hc. costo y flete el dia 9 para embarques de agosto y septiembre. A estos precios 

 se contuvo el alza y se consiguio un tono mas moderado debido a haberse sancionado en Wash- 

 ington la Ley sobre Regulacion de los Alimentos, asi como las consecuentes nogociaciones que 

 tuvieron lugar respecto a la regulacion de todo el comercio de azucar. 



Todos estos asuntos se explican md,s detalladamente d, continuacion. 



Al escribir esta resena el mercado es nominal A 6c. costo y flete y sin compradores. 



Como los fabricantes de azucdr de remolacha han acordado voluntariamente en mantener 

 un precio mdximo de 7.25c. por el azucar de remolacha granulado para el primero de octubre. 



