T HE CUBA R E \' 1 i: W 



SUGAR REVIEW 



Specially Written for The Cuba Review by Wiij-ett & Gray, of New York 



Our last review for this magazine was dated October i:i, 11)11. 



At that time centrifugals were quoted at 5.96c. per Ih. for '.)(i test, which i)roved to 

 he the highest point of the campaign. P""ollowing this, the market turned downward and 

 by several large declines has now touched 5.12c. per lb. showing a total decline of S4c. 

 per 100 lbs. during the time under review. New crop Cuba centrifugals for February- 

 March delivery are held at 3.40c. to 3.50c. per lb., cost and freight equal to 4.7(5c. to 

 4.S(:c. per lb., leaving a difference in parity of 2Sc. per 100 lbs. to be brought together 

 during" the coming months. 



With the outlook in Europe it is scarcely to be expected that new crop will be offered 

 at much, if any less than at present. European buyers have already taken some 140,000 

 tons of new crop Cubas, and are still in the market at al^out the present values, while 

 European values appear to have turned upward from the recent downward reaction to 

 16s 3d on the 7th inst. On October 13th, beet sugar was quoted at 17s l%d, from 

 which point it fluctuated to 17s SVid, to 17s, to 17s 4%d, to 17s, to 17s 3d, to 16s 3d, to 

 16s 11 %d at the close. 



The downward fluctuation of the foreign markets was not caused by any iinprovement 

 in the European beet crop prospects, but solely, as it seems, by the application of 

 Russia to the Brussels Convention on October 6th, for permission to increase her 

 annual exports of sugar from the present limit of 200,000 tons to 600,000 tons for 

 the year September 1st, 1911, to August 31st, 1912. The Convention took a favorable 

 view of the application, provided that Russia would indicate her desire to renew the 

 terms of the Convention for another 5 years froni its present expiration on September 

 1, 1913. The Convention adjourned to meet again on December 8th, in order that Russia 

 may combine with her request for increased exports, her disposition towards a renewal 

 of convention terms for 5 years from September 1, 1913. 



At this meeting there were some indications that the British government intends to 

 withdraw from the Convention entirely at its present term of expiration, and that it 

 will give such notice within a short time. 



This withdrawal will' not necessarily terminate the Brussels Convention, as the other 

 countries may continue its terms without the United Kingdom in it, but, on the other 

 hand, the loss of Great Britain would be a serious hindrance to its perfect execution, 

 and change materially the present united sugar conditions of Europe in some respects. 



The admission of 400,000 tons extra exports from Russia, when taken in connection 

 with the much greater general shortage in sugar supplies for this campaign, say 2,000,000 

 tons, is so inconsiderable in results that it is not surprising that after the sentimental 

 effect of such increased exports has passed, the whole European markets should again 



Jeffrey Scraper Conveyer 



HANDLING BAGASSE 



We design and build Elevating, Con- 

 veying and Power Transmission Ma- 

 chinery for Sugar Plantations and Re- 

 fineries; in fact, every field and industry. 

 Let our expert engineers study your 

 problems. 



Catalogs and information yours for the 

 asking. 



Jeffrey Mfg. Company, Columbus, Ohio 



New York Office: 77 WARREN STREET 



