THECUBAREVIEW 35 



SUGAR REVIEW 



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



Our last review for this magazine was dated June 13, 1914. 



At that date Cuba centrifugals of 96° test, were quoted at 2 3/8c. c & f and 3.39c. per lb. 

 duty paid, the difference between raw and refined being 0.72c. per lb. 



At this writing Cuba centrifugals are at 234c. c & f and 3.26c. per lb. duty paid, although 

 up until today the quotation has been well maintained at near the high point of the season, 

 3.39c.. although recent sales before the hoUdays were at 2 5/16c. c & f , and 3. 32c. duty paid. 



It looked at one time recently as if the top price would be passed, and 2J2C. c & f, 3.51c. 

 duty paid would be the quotation for 96° centrifugals, but it is necessary now to repeat what 

 we said last month, that our market and Cuba do not receive any encouragement from Europe 

 and without such the limit of our advance this season seems to be reached, at least until 

 later in the season, when new developments may come to change the prospects. 



The Cuba crop production to date indicates that the minimum estimate will be exceeded, 

 and the maximum will be reached. 



This maximum is ]\Ir. Himley's, 2,529,000 tons, against our minimum of 2,500,000 tons. 



The weather for the growing of the Eiu"opean beet crop is weekly reported favorable, and 

 a large crop is promised, which will keep prices at or near the cost of production as they are 

 at present. 



Except for the unusually large consumption of sugar in the United States for the first six 

 months of the year, the outlet for the large Cuba crop would not have been as favorable as 

 it has been. 



Our figures of the actual consumption of the entire United States shows the increase over 

 the corresponding six months of 1913 to have been 12.99%. 



The reduced tariff and large crop of Cuba and the United States domestic beet sugar 

 have caused the very low prices, which have induced the consumption of sugar to rise to the 

 above extent. 



The outlook for crop prospects is such as to continue a low range of prices. 



Nevertheless deficiencies in some crops, notably the next domestic cane and beet crops; 

 the Porto Rico and Hawaiian crop will have a strengthening effect late this year, and early 

 in next year giving a prospect of better than 2c. c & f for first deliveries, from the growing 

 Cuba crop. 



Quite an increased amount of the free duty sugars of the Phihppine Islands are coming 

 this way this year, the shipments thus far amounting to 91,000 tons against 8,775 tons last 

 year. Some Java cargoes are also directed this way, more than last year. 



Cuba centrifugals at 3.26c. per lb., are now J^c. per lb. below the parity of foreign beet 

 sugar landed at New York, and if, and provided the Cuban holders do not send sugars here 

 in such quantities as that they must be sold as distress cargoes, we see no reason why present 

 values may not be maintained, and all the remaining stock in Cuba placed with refiners at 

 full values, as fast as wanted rather than to sacrifice such by undue pressure to sell. 



Refiners have maintained prices at 4.30c. less 2% throughout the entire period under 

 review, and are quite likely to continue to do so, and even advance their quotations, should 

 conditions warrant it. 



The todays difference between raws and refined is increased by todays decline in raws to 

 0.954c. per lb., which does not call for an immediate advance in refined. 



At the close the American Sugar Refining Co. has pretty well cleared the market of sugars 

 pressed for sale at 234c. c & f 3.26c. duty paid. These purchases today amount to about 

 75,000 bags. 



During the months of July and August, the sugar business is to be suspended every Saturday. 



New York, July 9, 1914. 



LIGHT SOILS MADE PRODUCTIVE lbs. of double acid phosphate, and 120 lbs. of 



Experiments conducted on light soils in sulphate of potash, yielded 62,106 lbs. The 



Cuba, which have hitherto been considered Plot that received m addition to this 400 lbs. 



worthless for sugar cane culture, show that of nitrate of soda, 170 lbs. of double acid 



with proper manuring, these soils were phosphate and 120 lbs. sulphate of potash, 



capable of verv heavy vields of cane. Thus yielded 88,576 lbs. of cane.— ll'es< India 



the plot which received" 200 lbs. of nitrate of Committee Circular. 

 soda, 214 lbs. of dried blood, and 416 lbs. of 



basic clag per acre, yielded 55,882 lbs. of An experienced chemist and college gradu- 



cane as compared with 10,770 lbs. of the un- ate will install or continue to operate the 



manured plot. The plot that received in chemical control, or superintend, in a sugar 



addition 120 lbs. of sulphate of potash gave hou.se or refinery. Best of references furnished. 



67,973 lbs. per acre, while the plot that re- Address: Jno. B. Lea, 5320 Donnell Street, 



ceived 120 lbs. of sulphate of ammonia, 170 New Orleans, La., U. S. A. 



