St. Landry democrat., 1884-10-18
why sugar is Cheap.

Something has knocked the price OF
on oar tO a lower figure than it has been |
known to go in this country except
once, and that was long before the war;
The best sugar can be bought at retail
for a little over eight cents. and grahu-
lated sugars, which are the standard
are quoted at 6s cents. wholesale. Inc
brown sugars and the lower grades are
cheap in proportion. Spectators are
st their Wits ends to know whether to
take the bear or the bull end OF tie
market, but many operators do not hes.
itate to say that prices have not reached
hottom vet, and one broker declared
that he expected to buy sugar at less
than six cents before the end OF the
wear. This fall in price has ceftalii!y
not been caused by any falling on III
demand. The market never was so ac-
tive, and the consumption is enormous
In less than year it has increased one
fourth, and the United States are using
over twenty-five per cent. more sugar
than they did last summer. At the
same time the stock OF raw sugar is
greater than it was year ago.
IN New York, Boston, Baltimore ana
Philadelphia the stock on hand on july
a9d of this wear. was 1S9,79S tons, as
against 133, 1893 tons on the same day last
year. Cuba sugar is not coming IN very
FAST. because of the enormous export
Iluties and the tonnage taxes there.
Raw sugar from the island is only worth
three cents a pound before the duty Is
Daid. AS the export duty amounts TO
about One-half cent pound, sugar
growing in Cuba is not profitable bus
mess. The planters there are expecting
some relief from the Spanish govern
ment in reduction OF export DUTY ana
because of this expectation little sugar
is being shipped from there. rms facU
has almost put an end to the CuOa snip
ping business, and American salhhg
vessels are suffering, IN consequence
So CHEAP has sugar become that 1t no
longer nays to adulterate it with glu-
cose. which cannot be manufactured
as cheaply as the sugar itself is sold.
This has closed many OF the glucose
mills.
II is stated upon first class authority.
that. in view of the condition OF affairs
the sugar trade with Cuba, prominent
merchants of this city and New York
are quietly engineering a scheme for a
treaty of reciprocity with San Domingo
bv which sugar may be exported from
the island to the United States free OF
duty.
Mr.. VIM. w. Frazier, Jr, Of the
EfanEllu sugar T6uueIy Shiu Scet0Ludy
in explanation of the low price OF sugar,
that it was due to a combination OF
causes, one of which was the recent
modification of the sugar tariff, which
admits, free of duty, a grade OF sugar
upon which previously an import tax
had to be paid. This tariff modification
las 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 Ger
many has had a great Influence upon
the markets, and now practically rules
the sugar markets OF the world. Some
Of this sugar is imported here, but near
iy all Of our supply is cane sugar, which
comes to us cheaper now because 1t
cannot be sent to Europe in competition
with the beet sugar made there, and
thus, while we use little of the Euro
nean article, it IS a great source of bene-
lit to American sugar consumers.-Phll-
adeiphia Record.