. The Cuba review. 26 THE CUBA REVIEW. SUGAR IN NOVEMBER. Declining Prices During November. Louisiana Sugar Likewise Declines, Due to Money Stringency. Cuba Crop Will be Late. Russia in the Brussels Convention. Outlook Points to Higher Prices. Specially written for Tlae CUBA REVIEW by WlUett & Gray, of New York. November opened with Centrifugals 96 test at per lb., followed almost immedi- ately by a decline to per lb., and during the whole month a declining tendency existed, carrying prices down to 3^c. per lb., at which the month closes. Beet root sugar in Europe opened the
. The Cuba review. 26 THE CUBA REVIEW. SUGAR IN NOVEMBER. Declining Prices During November. Louisiana Sugar Likewise Declines, Due to Money Stringency. Cuba Crop Will be Late. Russia in the Brussels Convention. Outlook Points to Higher Prices. Specially written for Tlae CUBA REVIEW by WlUett & Gray, of New York. November opened with Centrifugals 96 test at per lb., followed almost immedi- ately by a decline to per lb., and during the whole month a declining tendency existed, carrying prices down to 3^c. per lb., at which the month closes. Beet root sugar in Europe opened the month at 9s. 3%d., advanced to 9s. 4^d., de- clined to 9s. 3%d., advanced to 9s. S54d., declined to 9s. 3d., advanced and closed at 9s. 4j/2d., but during the four days in December made a rapid rise to 9s. 7i^d. The feature of the month has been a severe scarce money panic throughout the" country. At one time it became almost impossible to 'do business at all, as money could not be had except by payment of 2%> to 4% premium. This condition worked to the great disadvantage of the Louisiana planters, whose crop came to market in full volume during the month. Being obliged to sell for whatever the sugars would bring in such circumstances, the price declined to 3%^c. for 96 test sugar in New Orleans, but with an easing up of finances a rally came to 3^c. at the close, with 3 7-i6c. paid early in December. The crop reports for the month were mostly favorable for the European beet crops until towards the close when unfavorable weather deteriorated the uncut beets piled for use and decreased estimates are now looked for. The weather in Cuba improved somewhat, but the crop will be late in beginning, very few sugars being made before January. Estimates of crop are still unreliable. A feature of the month is the admission of Russia to the Brussels convention, by which Russia agrees to limit exports to convention countries after Sept. i, 1908, to 300,000 tons the first year and 20
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