. The Cuba review. 34 THE CUBA REVIEW SUGAR REVIEW Specially written for The Cuba Review by Willett & Gray, of New York Our last review for this magazine was dated June 13, 1912. At that time, the quotation for centrifugals was per lb. for 96 degree test centrifugals, duty paid, and it is now per lb., but, in the meantime, quotation has been as low as per lb. following a declining trend in both the home and foreign markets. Suddenly, however, a marked change took place in Europe, confined, however, prin- cipally to the sugar exchanges with which Europe is net-worked an
. The Cuba review. 34 THE CUBA REVIEW SUGAR REVIEW Specially written for The Cuba Review by Willett & Gray, of New York Our last review for this magazine was dated June 13, 1912. At that time, the quotation for centrifugals was per lb. for 96 degree test centrifugals, duty paid, and it is now per lb., but, in the meantime, quotation has been as low as per lb. following a declining trend in both the home and foreign markets. Suddenly, however, a marked change took place in Europe, confined, however, prin- cipally to the sugar exchanges with which Europe is net-worked and in which the two classes of members "Bulls" and "Bears" have unusual facilities for manipulating prices, of which the "Bulls" are the most recent participators, forcing prices upward two shillings or more during two weeks and causing the makers of short contracts to run to cover, which action on their part is now followed by a reaction of one shilling at the close. In order to show this movement more particularly, we give herewith the changes in beet sugar quotations from the 13th of June to the present time. Commencing at lis 10^/^d, the changes have been downward to lis 2%d on the 25th of June, thence the turn began upward to 10s 11 ^/4d at the opening of the present month. From this time and point, the advance became most rapid under the manipulation of the "; The daily changes were to lis l%d to lis 5i/4d to lis 6d to 12s to 12s lOV^d to 12s 9d to 13s l%d to 13s 6d on the 17th of July and a shilling reaction to-day to closing at 12s 6d. The only foundation for such a movement put forth by the "Bulls" was a three days very dry spell on the beet crops of Europe when rain was much wanted. They emphasized the fact that if dry weather continued a considerable damage to the growing crops would result. As a matter of fact, however, all our reports ifV cable indicate that conditions are favorable and that the rise has no oth
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