The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-07-30
THE SUGAR MARKET.
NO FURTHER FAILURES APPREHENDED AMONG
REFINERs on DEALERS.

NO FURTHER FAILURES APPREHENDED AMONG
nEFINERs OR DEALERS
Since the failure OF the Commercial Warehousing
Company a sigE depression mas taken place In
the sugar market. From che LIST oil May to the
LIST of July the price OF renned sugar in this
market was ten and a hall cents. without huctua-
ton. ON the latter date II went up to eleven
cents, ana stood firm at that figure until the
failure or the above named company was an
nounced Sugars then went down from nall 70
three quarters OF a per pound In consequence
solely of this failure, as 1t was known that the
company were large advancers on the CROP but
dgent IT curry fails TO discover that any other
failures are attributed to advances In the same
product sugar men say that the market Is weh
stocked, and that Notwithstanding the troubles In
Cuba the crop this season win be as far IN advance
OF 1874 as was the crop OF that year IN advance
OF the crop OF 1873, and that the Louisiana crop
Will be good one One reaSon given
why so few OF our American capitalists
speculate in raw sugars, unless they be renners or
importers is that the BUSINESS is almost entirely
In the hands OF Spanish houses. and many OF them
are directly interested in the plantations from
when IL comes as they make advances 60 the
planters. Another thing that affected the sugar
market and helped to bring that article down
was the government drawback OF three and three
fourths cents per pound, less one per cent ana
the fact that gold stood at H. These facts, how
ever, stimulated exports or refined sugars. and
they went up. one large grocery house in this
city from the 1st Of April last up to the 26 h OF
this month, exported the enormous amount or
20 600 600 pounds OF refined sugar. The New Or
leans sugar That comes to THIS market does not
PROBABLY reaen oue-tenth the amount that arrives
from Cuba but 1t is better quality, not being so
damp, aud Is the only kind OF sugar that can be
In It's raw state. 1t ID also better sugar i0r
refining aud briggs better price 1t is rapidly
bought up when 1t reaches here By the sugar
rehners and Oy the SPECTATORS, no ship IL TO 81.
LOUIS, Cincinnati and Chicago.
The stock OF raw sugar at present In this mar
ket Is neld at from eight 10 eignt and a quarter
cents per pound. aud, unlike refined sugar, the
siIxht, and the advIces rom New ORGANS dealers
yesterday announce Inc same state OF AFFAIRS. In
that market. There is no leverlshheSs IN the
market here at all. Sugar has gone down one
nall TO three-quaTters oil a. cent, and tne sales wp
no doubt, DE dull for a lew days; but the STOCK on
hand is large, ana the crops TO come In promising.
Grocers consider that fewer failures Will take
placs among sugar speculators than among almost
any other class and they base this suppOslti0n
cash article, and, II not always so, II approx
mates neal er to IL than any other goods imported
into TINS city. IL Is always salable at It's value,
aud that value Is moro stable than the value OF
cotton or other goods that are imported here.
There Is very little une ssiness among sugar men,
and unless some large failures among rehnera
should take place, and so make holuers care nj In
their operations there Is no reason way tue price
shOuld not come back TO the standard Of a few
market that has been so marked Tor the last tv q
mr. IN