T H E C U B A R E V I E W 3S 



SUGAR REVIEW 



Specially written for The Cuba Review by Willett & Oray, New York, N. Y. 



Out last review for this magazine was dated September 6th, 1917. 



On that date, Cuba centrifUfj;al sugar of 96° test basis was quoted at 6c. per lb., cost and 

 freight to New York. With the Food Administration in the saddle and having reached agree- 

 ments with beet sugar producers and the Eastern refiners, and having also requested the latter 

 to practically remain out of the sugar market there have been very few fluctuations in prices 

 paid for Cuba centrifugals. Everything is practically waiting for the new Cuban crop to 

 start when conditions more like normal will obtain. 



Prices remained at 6c. c. & f. until the 14th, when 15,000 bags were sold at b%c. c. & f. 

 and which price prevailed until the 24th of September^ when 17,000 bags sold to an operator at 

 6c. c. & f. followed by 5,000 bags on September 27th, to the Warner refinery at 5J^c. About 

 that time the Canadian refiners also secured some small lots at 5J^c., and on October 1, 15,000 

 bags sold to Warner at 5Kc. and also 10,000 bags to the Canadian refiners. Sales on October 

 3d, were of 5,000 bags at 5>8C. to Philadelphia, and on October 4th, 5,000 bags to the Federal 

 at New York, all at 5j^c. at which price our report closes. 



These sales reported during the latter part of the month were obtained under the permis- 

 sion granted by the Food Administration to allow refiners to only carry 10 days supply of raw 

 sugars at their refineries. 



The greater part of the purchases of raws were to fill export orders for our Allies (prob- 

 ably to France) and also for the American Army and Navy needs. 



While there has been a dull period in the actual sugar trade, there have been many other 

 interesting events occurring affecting sugar, the greater part emanating from Washington. In 

 this connection, Mr. Hoover has announced the following committees to handle the sugar 

 situation : 



International Sugar Commission: George M. Rolph, Washington; Earl D. Babst, New 

 York; William A. Jamison, New York; Sir Joseph White Todd, England, and John Ramsey 

 Drake, England. 



National Sugar Committee of the United States Food Administration: George M. Rolph, 

 Washington; Earl D. Babst, New York; William A. Jamison, New York. 



American Refiners Committee: C. A. Spreckles, New York; James H. Post, New York;. 

 C. M. Warner, New York; George H. Earle, Jr., Philadelphia; Dwight P. Thomas, Boston, and 

 alternates, thereon; R. M. Parker, New York; B. A. Oxnard, Savannah, and WilUam Henderson, 

 New Orleans. 



Beet Distribution Committee: H. A. Douglas, Detroit; W. P. Turner, Detroit; E. C. Howe, 

 Denver; W. S. Petriken, Denver; W. H. Hannam, San Francsico; S.W. Sinsheimer, Huntington 

 Beach, Cal. ; S. H. Love. Salt Lake City. 



The Government has promulgated orders that all refiners, beet sugar and cane sugar fac- 

 tories, not only in the United States proper, but also in Porto Rico and Hawaii be licensed, and 

 each factory has received such license and is now operating under same. 



Regarding the War Revenue Bill, the Senate passed this measure on September 10th, with 

 various amendments, but eliminating the proposed excise tax on sugar. The Bill then went to 

 conference between the two Houses, and as finally agreed upon in conference, the Bill was agreed 

 to without any provision affecting sugar, by the House of Representatives on October 1st, and 

 by the Senate on October 2d, and was duly signed by the President on October 3d. 



Importers of sugar were licensed at the same time as refiners, and it is announced today by 

 the Food Administration that all wholseale dealers and brokers will have to take out a license on 

 or before November 1, 1917. 



The exports embargo as regards sugar, which were xmder contract to go forward to neutral 

 countries of northern Europe, such as Holland, Denmark, Norway, Sweden, Spain and Switz- 

 erland, have been denied. Exports to other places, such as South America, &c., have been held 

 up temporarily, although the embargo has been somewhat lifted, as regard sugars going for- 

 ward to Allied Governments, and territory controlled by them. 



