Sugar planter. [volume] (West Baton Rouge [i.e. Port Allen, West Baton Rouge Parish, La.]) 1856-1925, 1869-03-20
THE SUGAR SPECULATION.

forward in 1890 81. III IL true mat tner"
is q general hesitancy- among operator.
to NEEDLE with articles Of heavy mer
cbandise while prices Of gold are appa
rently on the decline, and great caution
and circumspecti N are used BY capital
lists 10 regard to interfering with the trade
in the necessaries cf life In 1856 there
was . failure of the -Lquisiana sugar
crop, and in consequence thereof our
markets sustained q higher range Of pri
ces than bad ever before been realized
for the article. Speculation was wide
awake. The imports Of 1856 showed q
considerable increase over. these of 1855,
particularly Of East India productions
but large quantities were Gent South and
West to localities usually supplied FROM
Louisiana. The quotations early in 1855
were from II to 9 cents the pound for
fair Cuba box browns and y%ellows, and
7 to 81 for Cubs m%uscovado, but prices
steadily advanced until October and the
current rates from that time until Jan
l. 1857, we're from 81 to III cents for
Cuba yellows. and 9 10 lO4 for Cuba mus
covadoes. 1t should be understood that
these were coin prices, and they we're
the highest which had been realized il
the Boston and New York markets. prob
IDLY since the war of, 1912. ihs high
rates largely cot off consumption
There was considerable excitement in
the sugar market during the first four
months of 1857, and prices touched a
higher point tbsu before known 10 the
market. The current rates for Cub. yel-
low early 10 January we're 10 to l24 cents
per pound. but during January, Februa
ry, March and April prices advanced 2 to
8 cents per pound, sales having been
made at liz to l44 cents for yellow, and
At l04 to l2A for Cuba muscovados'-
These high prices materially checked the
consumption. very large stoeks accumu.
lated in al the principal markets of the
country, and for the eight months follow
ing tue rates tended downward. The IN.
expected money pressure of that year
helped the decline. About January l,
1858, the current sales of sugar were at
9 to 81 cents per pound for Cuba yellow.
aud at 81 to 81 cents for Cuba muscovs-
do, a decline Of 4 to 5 cents the pound
from the highest point. t'-'0
This is the history of . sugar speculs-
ton based on the loss of a Louisiana crop
What is 10 be the result of hat which
has been started on the event of the
Cuba revolution remains to be seen, but
the following will afford q glance at " the
situation " at present:
At the close of the year 1868 the pros.
poets of q large West India Angrr crop
Hau Tue effect or reducing prices, and
sugars were exceedingly dull. so that
importers forced sales for refining at low
figures, and the r%efners also bought
many that we're usually sold for grocery
sugars for refners.
Soon after the revolution broke ont in
Cuba some few spectators commenced
purchasing, hut the movement gained no
considerable force until some of the sugar
estates we're attacked, and the means of
communication on the island more or less
Interrupted then the price went up
rapidly.
Last January the price Of good to
prime refined sugars was from l1s to
ll4 cents per pound ; the same has since
the insurrection been sold,. to arrive, at
IA cents. The highest VAS attained about
two weeks ago ; since then there has
been q break in the market of l cent o
pound the same sugars selling at l3c
The future of this s~accharioe product
depends entirely upep the turs, affair
take in Cubs.' Increased difficulties. q
suspension Of labor and interruption of
business Of course would tend materially to
advance even the present price, though
the heavy purchases of one Boston house,
.variously estimated at from five to ten
million pounds, have helped the rise ma
Other causes Of . rise are stat.
to be that owing to bad weather there
two months less griudiog the last
season, that much has been shipped to
France on account Of failure of the beet
sugar crop and % I'D Vance of price in
The csuse Of the recent break
o the market . said to be 4 decline 10
gold. causing the hesitancy that va have
alluded to, more stri"gency in the money
market and news from Cuba more fsvo,s.
'Ie to the Government.-Boston CONNER.
BuNeesa..I y E0IifTHLIq
~ The American Artisan, for March.