[Herman Lurie's Weekly Report, February 11, 1954] Page: 1 of 2
This report is part of the collection entitled: Harris and Eliza Kempner and was provided to The Portal to Texas History by the Rosenberg Library.
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4-53 IM 63757
FROM
TOHERMAN LURIE
Sugar Lend & GalvestonCOPIES TO
SUBJECT Market Letter
VIA NEW YORK CITY February 11, 1954
,Raws continued strong this week under the continue Leaaership of Southern refiners
who covered recent refinea sales by buying about b0,OUu tons Cubas in February to
April arrival positions at 6.00$ auty paid equivalent. Their Eastern counterparts
also participated to the extent of approximately 30,000 tons Cubas, Puerto Ricos
byt mainly Philippines for February and March arrival at prices ranging from 5.980
to o.02/ but mainly at 6.000, In addition, operators who were long a# of the Exchange,
took over a fair quantity of March Philiipines in exchange for futures contracts
and then applied the sugars against previous sales to refiners. As the market
closes ,it appears to be a trading affair with both sides at 6.00 uepenning on position.
There is a possibility of Longshore labor trouble in the Port of Philadelphia on
Monday. Sugar samplers who have not been on strike, voted to sever tLheir co:.nection
with the old independent I L A union ana aifiliate with the new A r L group. The
Philadelphia longshoremen, who belong to the ola I L A, have threatened to retaliate
by not discharging a sugar ship which is due on monday if the samplers report for work.
Distribution for the week ending f ebruary 6th totaled 146, j tons against 126,576 tons
for the week ending January 30th anci 35,&13 tons during the corresponding week
last year. Cumulative figures are 60'i,164 ana '/23,5u. tons for 1954 and 1 53
respectively.
The only sale reported in the world market this week consisted of 18,uUu tons
Peruvian whites to Bolivia at about 4.050 cii. 135 Cuban mills are grinning.
The Cuban Crop Decree was signed this week with uroaiction quotas in spanish tons
as follows:U. S. Free
U. S. Retained
World Free
* World Retained
World Special Retainea
Portion of institute sale to )
Britain borrowed from 1953 crop)
Local Consumption
TOTAL CROP1,575,321
5b2,965
700,000
735,566
371,215
386,5
2004,00u
4,750,0X..International Agreeient Reserve 216
File: Lurie's Weekly Report
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Lurie, Herman. [Herman Lurie's Weekly Report, February 11, 1954], report, February 11, 1954; (https://texashistory.unt.edu/ark:/67531/metapth1134102/m1/1/?q=%22~1~1%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rosenberg Library.