The Washington herald., 1916-02-05
CUBA CANE SUGAR
FEATURESMARKE
Common Stock All Sold, Re-
ports Seligman & Co., Aft
er Price Scars High.
JUMP UP 71l POINTS
Substantial Extra Dividend Probably
Will Be Paid At End of Year.
Quarterly Basis to Continue.

New York, Feb Al. & w. SeIigman g.
! Co. announce that the common stock
belonging to the Cuba Cane Sugar Cor
poration syndicate land not withdrawn
from sale) has all been disposed of.
/ The feature of the outside market was
the strength and activity of Cuba Cane
Sugar. The common sold as hfsh as
"a Ia, an advance of 1-2 over wednes-
days close. There has been heavy buy
ing of the common at private sale over
the last several weeks, one large iIi-
terest taking 5000 shares 1t is
estimated that after providing per cent
for the preferred, the surplus available
for the common in the current year win
be between s25 and $50 a share. The raw
sugar situation has been showing pro-
nounced strength. and the earnings of the
various sugar companies this year may
exceed the earlier estimates.
A year ago the stock was quoted at 81
bid
The advance In the stock is accom-
panied by reports that II will continue on
a quarterly basis OF per cent and that
at the end OF the year a substantial extra
disbursement will be made TO the COM
mon stockholders.
South Porto Rico Sugar common stock
was put on a 20 per cent annual basis last
November, when a quarterly dividend Of
is per cent was declared, and was paid
January to stock OF record December II.
More public interest is being display yed
in the sugar industry and the shares OF
the sugar companies than at any time in
history. Last year the various sugar
companies made enormous profits, the
ICuban-American Company. for example.
showing about so a share for the COM
mon. With good prices for sugar. and an
increased production. the outlook for the
current wear seRms even brighter
Speculative Buying.
A large amount of investment and spec
ulative buying has developed in the sugar
stocks, notably Cuba Cane. Cuban-Amer-
ican and South Porto Rico. In the out
side market. Cuba Cane sold up from
Wednesdays close OF rs 3-4 to 81 Ia On
tho Stock Exchange. Cuban-American
sold up points to 9o6. and South Porto
Rico l67, up q points
Large blocks of stock OF the Cuba Cane
Sugar. controlled by the largest banking
interests in New York. have been pur-
chased by wealthy bankers and manufac-
turers. and the floating supply is COM
paratively small.
Europe's stocks Of raw sugar are run
ming low. and large sales for export are
looked for.
A leading sugar house says that Cuba
lhdc SOIN ONci AtVst'Nev NOis VI lIs orlatfVJS
ton sugar crop to date. The average
price was approximately $50 cents per
pound, (. o. b. Cuba, so that the total
value OF these sales brings SIS 900 to
the Cuban planters TO enable them TO
hold their sugar for favorable prices. Re
ceipts in Cuba so far total J1S. ZOE tons as
compared with 29s,676 tons at this time
a year ago. but the prompt shipment
cost and freight quotation to New York
Is 1915 cents as compared with 3 IL
cents the first of the year before grinding
was fairly under way.
So rapidly has Europe bought in Cuba
and in the American refined market this
year. there are only 49.Sl3 tons in the
combined stocks of Cuba and the United
States as against 2S6, :Se tons last year.
1t Is estimated that Great Britain will
purchase $4,000 tons of Cuban sugar
this year; France will probably take 640-
COO tons; Norway, Sweden, Greece. Hol-
land. Switzerland. South America and
Africa are also active buyers in the sugar
markets of the western world. -.