34 



THE CUBA REVIEW 



Central "Santa Ocrtrudis." 



January 6th, when we estimated 780,000 tons. This crop was i)roduced by 67 factories. The 

 outlook for the 1916-17 American beet campaign is for a big crop, ahhough it is still too early to 

 state definitely the size of same. It is expected that, two (2) old factories thai were idle during 

 this campaign, in addition to sLx (6) new factories now nearing completion will take part in 

 the coming crop. 



The English duty was increased 500o on April 4th from the old rate of 9s. 4d. per cwt. 

 (112 lbs.) to 14s. per cwt. This is for sugars of 98° test and over. Where the old rate was Id. 

 ])er pound, the new rate is now IJ^d.per pound, or expressed in U.S. currency, the advance is 

 from 2c. to 3c. per pound approximately speaking. 



The increased duty was enacted on account of the needs of the Government for additional 

 revenue for the prosecution of the war. 



Refined sugar has shown a steadily advancing tendency during the month, advancing from 

 6.50c. less 2% on the 9th until 7.00c. less 2%, or 6.86c. net cash, was reached on the 28th. A 

 considerable business in granulated sugar for ex-port has been done during the month, one 

 block of 50.000 cons of Raws to be refined by the American Sugar Refining Company for the 

 English Commission having been announced, and moderate sized orders for practically all 

 parts of the world have been booked by refiners during the month at advancing prices until 

 6.00c. to 6.10c in bond f.o.b New York the quotation at the close, was reached. 



The market closes strong ac 4 15-16c. cost ana freight for Cuba raws and 7.00c. less two 

 per cent for Granulated, and further advances are ex-pected at any time, particularly' in view of 

 the reduction in the Cuba crop estimate by Mr. Himely of about 93,000 tons, making his new 

 estimate 3,080,000 tons. Willett & Gray's original estimate of the Cuba crop of 3,000,000 tons 

 remains unchanged Trom the first announcement of same on October 21, 1915. 



WILLETT & GRAY. 



New York, April 7, 1916. 



