34 T H E C U B A R E \M E W 



season in Europe has effected the best seed crop for next seasons, planting so much 

 that all efforts to buy seed for the United States are turned down, indicating that 

 another season must pass before recent low values of sugar can be resumed. 



The outlook for the Cuban planters, if their crop turns out as anticipated, is remark- 

 able for its immense promised profits, placing them on a high financial basis at once 

 that would have taken years to reach with continued large European beet crops, as 

 had been anticipated. Some planters, not fully realizing the possibilities of this season, 

 have alread}' disposed of a portion of their coming production at what seems to them 

 a very satisfactory advance over their sales of last year. Such sales have been made 

 to the European operators who are advancing beet sugars, and at prices f. o. b. Cuba, 

 which give the buyers the option of the European market at time of delivery. Some 

 200,000 bags have been bought mostly at basis of 3.2.5c. to 3.40c. f. o. b. Cuba for 96 

 degree test centrifugals, for January to March deliveries. 



There are sellers satisfied to secure 3%c. c. & f. to the United States, but thus faf 

 refiners decline to anticipate wants so far ahead which may prove fortunate for the 

 sellers, provided the beet crop's present outlook materializes to the view of the European 

 operators. F. O. Licht's first estimate should be at hand this month, and be a partial 

 guide at least, to future expectations. In the meantime the markets, after advancing 

 to 18s. 9d. for September (6.04c.) and to 17s. 11% d. for May (5.85c.), show a reaction 

 as noted. This reaction, if carried further, will enable our refiners to secure in Europe 

 some very much needed supplies to carry them over their October requirements, and at 

 the same time will prove a strengthening feature for the European speculators. 



Without doubt this coming campaign will prove the most exciting and eventful 

 through which Cuba has ever passed, and, if well managed, will, as already said, give 

 magnificent profits. 



Our facilities for following the outlook of the campaign are simply perfect, and 

 market conditions and expectations will be given fully in the Cuba Review from month 

 to month. 



Just a w^ord about the consumption of sugar at the higher level of values. Xo doubt 

 it will be adversely effected to some extent until the country becomes used to the 

 prices. The United Kingdom anticipates a forced reduction of consumption by reason 

 of lack of supplies, but here we will have in October and beyond a good supply of domestic 

 cane and beet sugars, and no forced reduction for lack of suppHes, the high prices 

 being the only influence at w^ork on consumption. 



Quotations for refined granulated are now 6.75c. less 2 per cent to 7.25c. less 2 per 

 cent, American Sugar Refining Company being the lowest seller for some time past. 



Xew York. September 13. 1911. 



REVISTA AZUCARERA 



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



Xuestra ultima revista para esta pubHcacion Ilevaba fecha 14 de Agosto de 1911. 



En aquel dia, los centrifugas se cotizaban a 4.875 cents, la libra, los de polarizacion 

 96 grades. En el momento de escribir estas lineas, se cotizan a 5.75 cents, la Hbra, 

 acusando un alza de 0.875 de centavo en libra. 



El aziicar de remolacha se cotizaba en dicha fecha a 15s 1^4d el quintal, libre a 

 bordo en Hamburgo, y ahora se cotiza a 18s 3d (habiendo llegado hasta ISs 9d), acusando 

 un alza de 3s l%d 6 sean 0.70 de centavo en libra. 



La equivalencia en precio entre el azucar centrifugas }• el de remolacha era entonces 

 0.31 de cent, en el quintal y ahora es de 0.18 de cent. 



La cause de esta alza extraordinaria y excepcional es la condicion en que se encuentra 

 el mercado azucarero en todo el mundo, que no ha tenido precedente en muchos anos, 

 pues solo en el aiio 1889 la situacion del mercado era algo semejante a la que se espera 

 para esta epoca. 



En 1889, la escasez de las cosechas y una especulacion desatinada hizo subir el precio 

 del azucar de remolacha en Europa de 14s 3d que era el cotizado al comienzo de la 

 zafra en Octubre 4 de 1888, a 28s iViid que se cotizo en Junio de 1889. El objeto 

 perseguido entonces era el de acaparar jel mercado y forzar al Trust azucarero y otros 

 refinadores norteamericanos a abastecerse comprando al Sindicato del Azucar de Remo- 



