32 THECUB A REVIEW 



SUGAR REVIEW 



Specialty Written for The Cuba Rkview by Willett & Gray, of New York 



Our last sugar review for this uiagazine was dated April 7, 1910. 



Centrifugals 90 test were then 4.:{(Jc. per lb. duty paid and are now 4.'M)c. per lb., 

 having been, in the meantime, temporarily depressed to 4.24c. and have not yet made a 

 full recovery to 4..'{r)C. per lb., as they are expected to do a little later on. 



Cuba sugars for shipment also declined, at one time, to 2 7-8c. c. & f., recovering 

 now to '.ic. for May and 3 l-16c. c. & f. for June, but going slow at these prices. The 

 cause for this decline was a sharp break-down in the European speculative movement, 

 which carried beet sugars from 14s 9%d. on April 4th to 14s on April ir)th, caused by the 

 arrival at U. K. ports of Cuban Centrifugals in large quantity unsold and pressed upon 

 the market for sale. The decline, however, did not last long, and the recovery was 

 almost immediate to 14s. Ifid. on April 21st, from wliich point beet sugars have further 

 advanced to 14s. 11', id. at the present writing with futures at 15s. all at tlie highest point 

 of the present campaign. 



The continued upward movement led l)y Europe is well based upon the prospective 

 deliciency in supplies to meet the con;umption and exports of European countries. The 

 United States, however, is not yet diicctly interested in this movement, having abundant 

 supplies in sight for the campaign, so that the large parity difference between Cubas and 

 Beets continues to maintain itself and is unusually large at the present writing, say 89c. 

 per 100 lbs. This wide difference has renewed purchases for the United Kingdom, sev- 

 eral cargoes having been recently sold at 2.92 to 2.984 f. o. b. Cuba. We explained this 

 continued large difference in apparent values between Centrifugals and Beets last month, 

 and the same conditions exist to-day as existed then, and it will be some months yet 

 before any important change will come about in this particular. 



The weekly returns coming in from the Island of Cuba indicate to us the almost 

 certainty of a full crop of 1,~(K),00() tons sugar with a possibility of some excess, thus 

 confirming the original and only estimate we have made of the crop this season. 



We are more concerned ju.st now about the succeeding crop of Cuba, 1910-1911, 

 which appears to us to be in danger of a large curtailment from the present crop by 

 reason of the continued drought having the precedent of the crop of 1907-8 to go by in 

 this conclusion. Right here, we have advices from the European Beet Crop, which indi- 

 cate considerably less increase than the 8 per cent, previously estimated, information 

 now pointing to a crop estimate for all Europe not exceeding 5 per cent. 



From the present standpoint, therefore, it would appear that higher than the usual 

 normal level of prices for Centrifugal sugars will be maintained into the next cainpaign. 

 Also, a straw pointing in the same direction is that the domestic beet sugar crop of the 

 United States for the coming campaign will be considerably smaller than the last crop 

 outturn of 450,59") tons, owing to local conditions existing in several States. 



The immediate outlook is for a quiet and steady market at 3 to 3 l-16c. c. & f. basis 

 for shipments of Cubas, for say one or two months to come. Refiners are well supplied 

 for the time being, but after another month will be in position to resume operations 

 on whatever basis may be then indicated from the European markets which entirely 

 control the situation of this campaign. 



Relined sugar was at .■).25c. less 1 per cent, at our last writing with business since 

 in exceptional cases at 5.15 to 5.10c. less 1 per cent., but at the close all list prices are on 

 a firm basis at 5.25c. less 1 per cent. 



Xew York, May 10, 1910. 



Costs of Telephone Installation porations, hotels, cafes, exchange houses 



and all offices, public service stores and 

 A decree was signed April 26th by Presi- houses occupied by more than one tenant, 

 dent Gomez fixing the rates for the tele- must pay $4.00 U' S. currency; charitable 

 phone service in Cardenas and one kilo- institutions, retail commercial stores, of- 

 meter outside. fices of notaries and all other offices of pro- 

 For each apparatus sugar mills, societies, fessionals, $3.00, and for schools, physic- 

 theatres, clubs, railroads, factories, ware- ians, newspapers, printing offices and pri- 

 houses, wholesale stores, banks, mills, cor- vate dwellings, $2.00. 



