ofi rilK CUI'..\ RI-:\'n-:\\' AiuI Rullctin. 



SUGAR IN SEPTEMBER. 



Specliilly written for Tlie CUBA UKVIIOW by Willett & Gray, of New York. 



September opened with Centrifugals, 96 test, at 3.92c. per lb. dutj- paid and 

 closed at 3.95c. per lb. Nearly or quite all the business of the month was done 

 at the latter basis, the cost and freight equivalent being 2 g/iOc. per 11)., basis 

 95* test. 



Beet root sugar opened at los. per cwt. f. o. b. Hamburg 88 analysis, advanced 

 to los. 3d., declined to 9s. ioJ/<d., advanced to ics., reacted to 9s. 7J^d., and 

 closed at 9s. 9d. 



Refined, granulated,, opened at 4.65c. per lb., net cash, and closed at 4.65c. 

 per lb., making no change during the month, except in California, where a 

 decline of 20 points occurred owing to local competition. 



As a whole, September proved to be a month of quiet, steady markets, unin- 

 lluonccd to any great extent by changing conditions. 



Tiie final outturn of the last Cuba crop as given by ^lessrs. Joaquin Guma- 

 Federico Mejer, 1,427,6573 tons, did not vary from estimates. Such a sizable 

 •crop was only possible by reason of the unusually favorable weather of the 

 grinding season which enabled factory work without ceasing until all the cane in 

 the fields was used. This, however, leaves the fields bare of cane for early use 

 the coming season and indicates a later crop and undoubtedly a smaller crop this 

 season, which expectation is no doubt at the basis of the firm and expectant markets 

 .of Europe. 



.-Ml recent reports of the European beet crop are of favorable weather, and it 

 is likely that the minimum estimate already put out by Mr. F. O. Licht, tiie 

 European expert, of 6.230,000 tons will be exceeded, but perhaps not reach his 

 maximum estimate of 6,700,000 tons. 



There is a general disposition to take a very favorable view of the sugar 

 markets of the world for the coming campaign, based upon expectation of crop 

 developments and of supply and demand which may lead to a higher average 

 of prices than for the last campaign. It is, of course, too early to give definite 

 reasons for such a belief, and all developments in that direction will be watched 

 for with unusual interest. 



Java is sending the United States a considerablj^ increased amount of sugar 

 over last year, the amount now afloat being 170,000 tons to October i, against 

 140,072 tons last year, and 115,508 tons in 1905. .Ml this sugar will be needed 

 here before the next Cuba crop is available. The last sales of Javas, of 96 test, 

 :are on the basis of 3.95c. per lb., duty paid. 



The receipts of foreign sugar in the United States in September, at the 

 Atlantic and Gulf Ports, were 117.759 tons, and the requirements for melting 

 were ;g6,ooo tons. The total stocks in the United States and Cuba, together, on 

 September i were 374,662 tons, w'hich is reduced to 296,980 tons at the end of 

 September. 



The outlook for October is for a steady firm market for both raws and 

 refined, the supplies being added) to by both the domestic cane and beet crops 

 which are now coming into active consumption with promise of fuller supplies 

 of cane than last year, and about equal of beet sugar. 



Some attention is being given to purchases of beet sugar contracts for next 

 May delivery, which are quoted at lOs. per cwt., equal to 4.11c. per lb., duty 

 paid, for 96 test Centrifugals, or say 2^4 c & f Xcw York for Cuba Centrifugals. 



QUOTATIONS FOR CUBAN SECURITIES. 



Supplied by L.VWRKXCE TrUMKE & CO.. New York City. 



. „ . , Bid. Asked. 



Kepubuc of Cuba ;>% Bonds ]<X>% 101 >4 



Republic of Cuba 6% Bonds !)7 102 



Republic of Cuba 5% Internal Bonds .S7 87^ 



Havana City 1st Mortgage 6% Bonds 105 lOT* 



Havana City 2d Mortgage .5% Bonds 104 107* 



•Cuba R. R. 1st Mortgage .5% Bonds \' \ 85 90 



Cuba R. R. Preferred .Stock 31 .37 



Cuba Company H'r Debentures . . . 60 7i) 



Havana Electr'c Consolidated Mortgage 5% Bonds ] 81 U HAVt 



llavana Electric Preferred Stock 74 76 



Havana Electric Common Stock ...' 27 32 



• Ex October Coupon. 



