THE CUBA REVIE TV 



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Sugar Prices 



Improvement in Cuban Conditions 



The excellent prices realized for the 

 1922-23 Cuban sugar crop, now drawing 

 to a close, have brought about a marked 

 improvement in practically every phase of 

 Cuban economic conditions. This general 

 recovery is reflected in the constantly in- 

 creasing Government revenues. 



The budgetary revenues for the first 

 seven months of the fiscal year from July 

 1, 1922, to June 30, 1923, reached a total 

 of $35,282,460, as compared with an origi- 

 nal budgetary estimate of $33,057,188. 

 When the average monthly receipts for the 

 seven months ($5,040,350; are compared 

 with the receipts for the last five months 

 of the fiscal year, the extent of the im- 

 provement is apparent. The budgetary 

 revenues for February were $6,100,000; for 

 March, $6,300,000; for April, $6,650,000; 

 for May, $7,870,000; and for June esti- 

 mates place the total at over $7,500,000. 



In addition to these budgetary revenues, 

 the Cuban Treasury has collected $3,336,- 

 000 to date in the form of receipts from 

 the 1 per cent sales tax. This represents 

 the proceeds of the tax for December, 1922, 

 and the first quarter of 1923. The sur- 

 plus of total revenue (budgetary revenues 

 plus 1 per cent sales-tax receipts; for the 

 current fiscal year over the total expendi- 

 tures, (budgeted and extrabudgetaryj will 

 probably exceed $10,000,000. 



Bank Ci.earings Touch High Mark 

 in April 



Habana bank clearings, which amounted 

 to $33,700,000 in December, 1921, and 

 $51,000,000 in December, 1922, have 

 reached the following monthly totals dur- 

 ing 1923: January, $56,400,000; February, 

 $68,200,000; March, $95,000,000; April, 

 $96,000,000; May, i 82, 000,000; June (es- 

 timated), $76,000,000. The decrease in 

 settlements during May and June can be 

 attributed to a seasonal falling off in com- 

 mercial transactions; the gradual decline 

 in sugar sales — a result of the greater part 

 of the crop having already been marketed; 

 and a tendency on the part of business 

 men to delay purchases pending more 

 changes in the policy of the cabinet. 



Habana Shipping During First Quarter 

 OF 1923 — Merchandise Stocks 



The Cuban custom house reports the 

 gross tonnage of vessels arriving at Ha- 

 bana during January as 943,460 tons; 

 February, 774,000 tons; and March, 

 870,000 tons. 



Textile stocks are reported to be medium, 

 with little tendency to accumulate supplies 

 in excess of actual requirements for the 

 summer. Stocks of agricultural imple- 

 ments are exceptionally low and many 

 orders will be placed in the United States. 

 The supply of tractors is diminishing, — 

 Based on cable jrom Acting Commercial 

 Attache Panl L. Edwards, Habana. 



Sugar Outlook in Argentina 



Cfficial sources estimate that stocks of 

 sugar together with, the results of this 

 year's grinding will provide a supply suffi- 

 cient to meet the country's requirements up 

 to December 31, 1923. The stocks, visible 

 and invisible, were placed at 42,585,060 

 kilos on April 24, 1923. The season's 

 grinding commenced in May. 



During 1922 the total consumption of 

 sugar was 257,704 metric tons, or approxi- 

 mately 21,500 metric tons per month. 

 Should the 1923 grinding come up to ex- 

 pectations and yield about 250,000 metric 

 tons, Argentina will not be forced to look 

 to Brazil or the United States as a source 

 of supply before January, 1924. Excellent 

 weather and the increased sugar content 

 of the Java cane, which has entirely re- 

 placed the native or "crioUo" variety, are 

 the two factors to which a larger yield can 

 be attributed. There has been only a 

 moderate increase in the acreage under 

 cultivation. 



During 1922, Argentina imported 20,- 

 310,300 kilos of refined sugar from Brazil, 

 22,845,186 kilos from the United States, 

 7,710,780 kilos from Uruguay, and smaller 

 amounts from Germany, Cuba, and the 

 Netherlands. Argentina is both an im- 

 porter and an ex-porter of sugar, accord- 

 ing to the state of the market. — Assistant 

 Trade Commissioner Clarence C. Brooks, 



Buenos Aires. 



Central Tacajo 



Central Tacajo in Cuba has finished 

 grinding its sugar crop with an outturn of 

 125,999 bags, against last year's 305.981. 



