32 T H E C U B A R E V 1 E \"\" 



during the latter months of the year, say August to December, when the shortness of the 

 Cuba crop will be mostly felt. Java sellers are always very close in their pretensions to 

 the beet sugar parity of Europe, and the Java sugar would always have preference in the 

 United States over the European beet sugars at the same cost. 



Whether the prices for beet sugar, if carried higher and thereby inciting the entire 

 continental beet sugar growers to sow even to a larger extent than last season, may not 

 prove correct remains to be seen. As sowings have not yet begun, there is always this 

 possibility until the month of May is passed, and to us it appears likely that this month 

 of May may prove to be the critical month of the year for a more or less violent reaction 

 on the sugar exchanges of Europe. 



Our refiners at the moment are well supplied for 30 to 60 days, but at the same time are 

 disposed to make further purchases in following the course of the European market, but 

 at .25 to .35c. per pound lower parity. 



Speculation in Cuba sugars has also entered into the situation to some extent. These 

 operations have their home on the other side, and if not themselves, the manipulators 

 of the beet sugar market are yet largely influenced thereby in their Cuban operations. 



Taken altogether, the sugar situation, with its large excess of supplies from a statistical 

 standpoint, and with the possibility of another very large beet crop on top of the last, 

 requires a word of caution to all persons interested therein from the planter to the con- 

 sumer. 



Our country is a little behind, thus far, in its consumption of cane-refined sugars, 

 which deficiency has undoubtedly, however, been made up by the increased consumption 

 of beet-refined sugars ; the supplies of the latter, however, are now virtually exhausted, 

 and the country must fall back upon cane-refined sugars for its future requirements of the 

 present campaign. 



New York, March 20, 1911. 



P. S. — In confirmation of what we have written we can add that, although not fully 

 confirmed, it is believed that Java sugars for Aiay-June shipment have been sold recently 

 to American refiners at 10s. T^'sd. to 10s. 9d. c. and f., equal to 4.05, per pound landed in 

 September. It is now estimated that the sales of Javas reach 50,000 tons. 



REVISTA AZUCARERA 



Escrita expresamente para la Cuba Review por Willett & Gray, de Nueva York 



Nuestra ultima revista para esta publicacion estaba fechada Febrero 10 de 1911. 



En aquella fecha, los centrifugas se cotizaban a 3.48 cents, la libra. La cotizacion de 

 hoy es 3.86 cents, la libra, lo que acusa un aumento durante el intervalo de .38 cents, en 

 libra, que es una subida algo extraordinaria para esta epoca del aiio, la cual fue causada 

 exclusivamente por la iniciacion de un fuerte movimiento especulador en las Lonjas 

 Azucareras de Europa ocasionado por las reiteradas noticias pesimistas transmitidas por 

 cablegramas desde Cuba y los Estados Unidos. 



Esa actividad especuladora en Europa hizo subir las cotizaciones de los azucares de 

 remolacha mas alia aun de 9s. 3%d. equivalente a 3.95 cents, por centrifugas en Nueva 

 York, en Enero 11; a 10s. 8^/4d. equivalente a 4.25 cents, la libra de centrifuga en Nueva 

 York, ahora 6 sea una subida equivalente a .30 cent, en libra. 



La diferencia entre la equivalencia de los precios de los azucares de remolacha y los 

 centrifugas en Nueva York es ahora .39 cent, en libra, no existiendo muchas probabili- 

 dades de ninguna reaccion en los precios actuales del azucar centrifuga cubano mientras 

 tanto dicha diferencia en el equivalente de los precios se mantenga a mas de Vi de cen- 

 tavo en libra. 



Esta excepcional manipulacion para la subida de los precios del azucar en Europa ha 

 causado mas 6 menos sorpresa al considerarse el millon 6 mas de exceso de azucar de re- 

 molacha sin incluir Rusia, y son muchos los que aqui esperan el fracaso mas 6 menos 

 pronto de ese movimiento, si bien es probable que no ocurra hasta que los especuladores 

 que dominan completamente el mercado europeo hayan hecho subir las cotizaciones con- 

 siderablemente. Todo indica que los mercados europeos son la Have de la situacion, por 

 lo que hay que fijar la mayor atencion en ellos. Como quiera que este numero de la 

 Cuba Review es el acostumbrado resumen de la situacion azucarera en cuanto se refiere 

 a Cuba, haremos mencion especial *de aquellos asuntos de interes particular para dicha 

 isla. 



