The state journal., 1884-08-02
JAMES G. BLAINE.
AN ITEM roR HousEIzEEPERs.
Why Sugar is Cheap-Eftect of Beet Suga
Competition.

Why Sugar is Cheap-Effect of Beet Sugar
Competition.
Philadelphia Record.
Something has knocked the price of
sugar to lower peg than it has ever
been known to go in this country except
once, and that was long before the war
The best sugar can be bought at retail at
q little overs cents, and granulated sugars,
which are standard, are quoted at 65
cents Wholesale. The brown sugars and
the lower grades of white sugar are
cheap in proportion. Spectators are at
their wits ends to know whether to
take the bear or bull end of the mar
ket, but many operators do not hesitate
to say that prices have not reached bottom
yet, and one broker declared that he ex-
pected to buy granulated sugar at less
than 6 cents before the end of the year.
This fall in price has certainly not been
caused by any falling off in demand.
The market never was so active, and the
consumption is enormous. In less than
q year it has increased one fourth, and the
United States are using over % per cent.
more sugar than they did last summer.
AT the same time the stock of law sugar
is greater than it was aycar ago. In New
York, Boston, Baltimore and Philadel-
phia the stock on hand July %, of this
year, was 1897 tons, against 1873, S93
tons on the same day last year. Cuba
sugar is not coming in very fast, because
of the enormous export duties and the
tonnage taxes there. Raw sugar from the
island is only worth cents pound be-
fore the duty is paid. As the export duty
amounts to about J cent pound, sugar
growing in Cuba is not now a profit
able business. The planters there
are expecting some relief from
the Spanish Government in a reduction of
export duty, and because of this expecta-
tion little sugar is being shipped from
there. This fact has almost put an end
to the Cuba shipping business, and Amer
lean sailing vessels are suffering in conse-
quence. So cheap has sugar become that
it no longer pays to adulterate it with
glucose, which cannot be manufactured
u s cheap as the sugar itself is sold. This
has closed many OF the glucose mills
1t is stated upon first class authority
that in view of the condition of affairs in
connection with the sugar trade with
Cuba prominent merchants of this. city
and New York are quietly engineering a
scheme for treaty of reciprocity with
San Domingo by which sugar may be ex-
ported from that island to the United
States free of duty.
Mr. William w. Frazer, jr., of the
Franklin sugar refinery, said yesterday,
in explanation Of the low price Of sugar.
that was due TO a combination of causes,
one of which was the recent modification
Of the sugar tariff. which admits free of
duty grade of sugar upon which previ-
ously an import tax had to be bald. This
tariff modification has brought to the
United States from South America, the
East Indies and other points supplies
which before did not reach us in very
large quantities. The enormous amount
of beet sugar which has been recently
made in Germany has had great influ-
ence upon the markets and now practic-
ally rules the sugar market of the world.
Some of this sugar is imported here, but
nearly all Of our supply is cane sugar.
which comes 10 US cheaper now because
it cannot be sent to Europe in competition
with the beet sugar made there, and thus,
while we use little of the European ar
ticle, it lis great source of benefit to
American sugar consumers.