THE CUBA REVIEW. 27- 



Prices later followed the downwardl course to 3.900., rallying to 3.92c. the- 

 middle of the niionth, then 3.89c. to 3.86c., to 3.80c., to 3.77c., to 3.80c., to 3.75c., at 

 the close of January. The cost and freight sales were also on declining basis to- 

 2^c. for 96 test for February and March shipments at the close. 



European beet sugar opened at 10 shillings per cwt. 88 analysis f. o. b. Ham- 

 burg, declined to 9s. 9}id., rose to 93. lo^d., declined to 9s. 9}id., and closed, 

 at 9s. iiJ4d., the small fluctuations following daily news from Cuba, the number 

 of Centrals working and' the weekly receipts following closely those of the year- 

 1905-06, when the crop was 1,178,749 tons. Messrs. Guma-Mejer issued their first 

 crop estimate on the 3d of January, based upon the amount of cane in the field,, 

 as 1,165,000 tons, and have not changed since. 



Europe indicates rather smaller beet sowings next season. 



All proposed tariff revision on Philippine sugar at this session of Congress, 

 has been given up, and an effort will be made to harmonize the government 

 and the sugar men on a measure to be passed amicably at the next December- 

 session. 



At the annual meeting of the American Sugar Refining Co., January 8, Mr. 

 Horace Havemeyer was elected a director in his father's place. Mr. W. B. Thomas- 

 was elected president; Mr. Arthur Donner, vice-president and treasurer, and Mr- 

 C. R. Heike, secretary. Mr. Henry E. Niese' has been admitted to the directory. 



The delay in Cuba crop receipts caused on one day, the 15th, an abnormal; 

 condition in the New York market supplies, and the Arbuckle Refinery was forced, 

 to purchase the only cargo of sugar in warehouse, at the price of 4.10c. per lb.. 

 96 test, an advance of i8c. per 100 lbs. over the nominal quotation of the day- 

 No other like transactions were possible during the month. 



It gives us pleasure to add to our month's review that our Mr. Alfred F.. 

 Gray has just returned from a trip to Cuba, where he visited our many friends, 

 in the provinces of Havana and Matanzas and was most cordially received. He- 

 foundl the conditions of the sugar cane in these provinces to be somewhat stunted 

 as a result of the drought of last year, much of the cane being only one-half the 

 normal size, from which a heavy fall-short in production may be expected. Part 

 of the shortage will be offset by the increase in the sugar yield of the cane,, 

 some estates showing an extraction of 11.5% against 10% last year. In eastern 

 provinces, however, the cane looks well, and a favorable out-turn is looked' 

 for there. 



Present indications point to a total production of 1,100,000 tons to 1,200,000- 

 tons — according to the length of time suitable for grinding — against last season'st- 

 crop of 1,427,673 tons sugar. 



The large decrease in the crop will be felt after the pressure of the early 

 production is over, and every pound of Cuban sugar then unsold will be wanted 

 at full prices for this season's consumption of the United States. 



The young cane is growing very satisfactorily, and as plantings have been; 

 quite extensive there is promises of a large increased crop in 1909, which the- 

 existing factories will have to take care of. 



One up-to-da^te sugar estate in Havana province which we inspected, the 

 Prqvidencia, has cane much better than the average size, and of high test, due 

 to its system of irri-gation. This condition of these fields shows such a marked' 

 improvement over the near-by fields which are not irrigated that other planters 

 who have water available would do well to follow this example. 



Development of the Island's resources appears to have come to a standstill,. 

 in view of the intention to withdraw the American Government next year. As 

 soon as a stable Cuban Government is assured, however, there is no doubt but 

 that advantage will be taken of the splendid opportunities for profitable investment 

 offered by Cuba. 



EL AZUCAR EN ENERO. 



Escrito e.xpresamente para la CUBA REVIEW por Willett & Gray, de Nueva York. 



Ai comenzar el mes de Enero, los centrifugas polarizacion 96° se cotizaban a. 

 3.85 cents, la libra, derechos pagados, puestos en Nueva York, y a 214 cents., costo 

 y flete, entregados en Cuba. Debida a los escasos arribos de azucares de la zafra 

 actual, los precios se hicieron mas firmes, la cotizacion de los azucares para entrega 

 inm.edSata babia avanzado a 3.152 cents, para 'el dia 6 del mes. y ventas compren- 

 diendo 100,000 sacos sobre la base de costo y flete se hicieron a 29-16 cents, la^ 



