34 



THE CUBA REVIEW 



SUGAR REVIEW 



Specially Written for The Cuba Review by Willett & Gray, of Xew York 



OLD CROP NEARLY EXHAUSTED NEW CROP ESTIMATED AT 2,000,000 



TONS world's consumption REQUIREMENTS EXCEEDED 



Our last review for this magazine was dated September 11, 1912. 



At that time the quotation for centrifugals 9G° test was 4.ri6c. per pound, and the 

 present quotation is 4.11c. per Ih. 



The course of the market during the time under review has been steadily downward. 

 The price of 4.36c. per lb. proved to be the highest point reached. Froin this point 

 the price declined to 4.30c. per lb. on the 19th, owing to favorable reports on the 

 European beet crops. 



The next decline was to 4.235c. per lb. on the 24th, for the same reason, and followed 

 the next day to 4.17c. per lb., which price continued until the close of Septeinber. On 

 October 3d, the price declined to 4.14c. per lb., and to-day to 4.11c. per lb., which Is 

 the closing quotation. 



European beet sugar quotations passed through large market changes, as is usual 

 when passing over from one crop to the next. This season the change was largely 

 downward. 



On September 11th the quotation was 12s 3d per cwt. free on board Hamburg. The 

 following changes were to lis 9%d to 12s 3%d to lis lli/4d to 12s 6d to 12s to lis 

 to 10s 4V2d at the close of September, and the final quotation for old crop sugar. 



October new crop opened at 9s 6d to 9s 6%d to 9s 7V2d and to 9s 9d at the close 

 to-day. There was a large outstanding short contract during September on the foreign 

 sugar exchanges and prices were kept high by the Bull manipulation until the Shorts 

 were forced to cover their contracts. 



In order to accomplish this object, some 50,000 tons of beet sugar were sold to the 

 United States from the stock at Hamburg at prices nearly or quite 1 shilling below the 

 current quotation. These purchases also enabled our refiners to bridge over any pos- 

 sible period of scarcity of local supplies and caused the declining price of cane sugars 

 here. 



The old Cuba crop is now nearly exhausted, but the requirements of the country for 

 refined sugar are about to be supplied largely by the domestic crop of beet and cane 

 sugars, so that the meltings of refiners will be largely reduced for some time to come. 

 All crop prospects look favorable, by the latest advices. 



Cuba should make at least 2,000,000 tons if favorable weather and, with a large 

 European beet crop now being harvested, supplies of sugar of the world should fully 



The BUDA COMPANY'S 

 MOTOR CARS 



We manufacture Plantation and Rail- 

 road Equipment including Hand Cars, 

 Push Cars, 

 Jacks, 

 Swi tches 



and Frogs 



30 Church Street, New York 



