TE COB A RAE Vols Ve 35 
Sugar Review 
Specially written for THE CUBA REVIEW by Willett & Gray, New York, N. Y. 
At the time of our last review of the New York sugar market, dated July 21, 1921, 
quotations for raw sugar were on the basis of 3c. c. & f. but early this month the Cuban 
Finance Committee increased their views to the basis of 314c. c. & f. equal to 4.86c. duty 
paid and which quotation continues to be maintained, as far.as the committee is con- 
cerned. Later, however, on pressure to sell outside sugars, quotations declined and at 
this writing are on the basis of 3c. c. & f. for uncontrolled Cubas and 4.50c. for Porto 
Ricos and Philippines. The market recently has been quiet with buyers showing only 
occasional interest. The committee recently has, however, been able to dispose of some 
more sugars to the United Kingdom and Europe, latest quotations being on the basis 
of 21s c. 1. f. United Kingdom and 3.10c. f. 0. b. Cuba. With the larger arrivals of raw 
sugars recently at the Atlantic ports, refiners have naturally increased their meltings and 
are now working nearer to capacity with consequent increase in the deliveries of refined 
sugar which has been badly delayed in instances. 
Quotations for refined sugar are maintained at the 6.15c. level by. American, National 
and Warner, with Arbuckle 6.05c. On August 22d, Federal who had been offering sugars 
at the 6c. level reduced their price to 5.90c. and made a further reduction today to 5.80e. 
basis which has had the effect of somewhat unsettling the market. The other refiners 
are now rapidly cleaning up their unshipped orders and when this is accomplished a re- 
adjustment to a somewhat lower level is likely. The reductions in price by Federal 
lead to the throwing into the market of a considerable quantity of second-hand sugars 
on the part of buyers who had a surplus steck, which sugars are obtainable today at 
5.70e. f. o. b. refinery shipment. 
Little progress has been made recently toward the final conclusion of the Permanent 
Tariff Bill now before Congress and it is not expected the measure will become a law 
before next winter. Many applications have been made to the Senate Committee for 
hearings against the proposed rates on sugar, particularly Cuban sugar, which on account 
of being so high in the latter case are held to be injurious to the mutual welfare of Cuba 
and the United States. In this connection the following table showing the Cuban imports 
in comparison with the United States consumption may be of interest to your readers: 
COMPARATIVE SOURCES OF SuPPLY AND TotaL Duties Paip ANNUALLY 
KE 3 U.S. revenue 
Balance re- on sugars and 
Total U.S. Z Cuba sugars quirements molasses im- Total 
Consump- Free imported from other ported fiscal Cuba 
“tion. Supply in U.S: countries years ending Crop. 
Year Tons Tons .~ Tons Tons June 30th* Tons 
1907 2,993,979 ' 15287,582 1,340,400 365,297 -= >>. $60,338,523 1,427,673 
1908 3,185,789 1,539,333 916,742 729, 7147 50,168,155 961,958 
1909 3,257,660 1,629,688 1,427,531 200,441 56,414,434 1,531,582 
1910 3,350,355 1,637,780 1,640,182 72,393 53,105,357 1,804,349 
1911 3,351,391 1,743,070 1,409,259 199,062 52,809,371 1,483,451 
1912 3,504,182 1,732,969 1,664,863 106,350 50,951,199 1,895,984 
1913 3,743,139 1,734,750 1,990,831 17,558 53,481,801 2,428,537 
1914 3,760,827 1,693,915 2,018,854 48,058 61,870,457 2,597,732 
1915 3,801,531 1,939,200 1,841,602 20,729 49,607,651 2,592,667 
1916 3,658,607 1,977,118 1,666,548 14,941 55,875,639 3,007,915 
1917 =. 3,683,599 2,171,248 1,506,876 5,475 55,471,364 3,023,720 
1918 3,495,606 1,595,059 1,881,244 19,303 49,092,779 3,446,083 
1919 _ 4,067,671 1,942,882 2,067,051 Pt eke) 68,608,819 3,971,776 
1920 4,084,672 1,396,954 2.133,699 554,019 79,536,137 3,730,077 
*From Statistical Abstract of the United States for 1920. ; Gemeis 
+Including 10,700 tons Philippine sugars in 1907 and 45,089 tons in 1908 paying 75% of 
full duty rates; beginning 1909 
Supply” column. 
these sugars were admitted free and were included in ‘‘Free 
