, 1885-01-10

ance of buildings in course of erection. and
to notify to the landowners, with whom
they had contracted for the delivery of
roots from October 1885, that they did not,
under the state to which things had come,
consider themselves bound by the former
engagement. We see, that the shares of
that Company, which are said TO have
stood at one time at a premium Of 40, and
as late as about a year and a half ago for
some time stood at 25 above, had by last
September fallen to Is ana are now at 10
pr. ct. under par. This establishment has
the peculiar character of being a combina-
ton of two enterprises. 1t was in its orr
gin simply a sugar refinery on a large scale,
and did a very profitable business. About
10 years ago it established the first beet
root factory in Denmark, which it has
since increased by three or -four more, with
the intention of employing the products in
the old refinery. This combination of two
distinct branches Of industry prevents the
aScertaining of what the value of the shares
of the beetrOOt factories would be, were it
regulated by the profit Tor loss) of the lat
ter alone. AS it is, they may have result
ed in a less, which is a~malgamated with
the profits of the refinery.
On my return from Europe in November
last, a fellow-passenger Germany, who had
quite lately returned from Austria and
South Germany, spoke Of the sugar-pro-
ducers there as being in the lowest state
Of depression, factories not able to fulfil
their Ell gagements, and beet-grOwers sick
and tired of the cultivation. Another gen
tleman (also Germany, who had shortly be-
fore been in Pomerania (PruSsia), expressed
himself similarly OH what he Lad expert
enced there. He described in particular
the case of a factory established on a mag
niticent scale, extensive buildings, frst-rate
machinery and apparatus OF everykind, Sepa-
rate railroads to villages at some distance,
and so on. This splendid establishment
had at the time of his visit notified to the
landowners connected with it, that it had
become impossible to pay for the roots
more than one half Of the price agreed
upon, until the roots then in the ground
should have been worked up, when a deci-
sion would have to be taken as to what
was to be done thereafter. To my Ques-
ton, how the affair was expected to termi-
nate, the answer was, that the whole would
probably be broken up.
Quite lately we saw the news Of the fail
ure Of another factory in Vienna for
5000, 600, and this again is of less impOr-
lance when compared with the position of
the Bodenbank agricultural bank) of b.
hernia. which was lately reported as being
in difficulties owing to the state of the SUI
gar market. According to the latest &C
counts az Dec.) the matter was of such
gravity, that the Minister of Finances had
combined with the principal banking firms
of Vienna, in e~ndeavOuIing to prevent a
breakdown, and for a short time it was
thought, that through the means of 81 loan
of 10 mill. Gylden the storm might be
ridden through, but these hopes proved
vain, and a bankruptcy was considered
unavoidable. Among the rest, the fate of
three large sugar factories and no less
hal 40 Savings banks were at stake i'll
the concern.
The whole extent of the consequences of
the state of things brought about BY the
dIsproportion between production and con-
sumption, will, one should think, not Shew
itself before two or three months, when
the campaign now going on will have been
finished.
Admitting the above statements of cost
of production to be correct, and knowing
as every one does, the present prices OF the
product, it is unnecessary to say, that
things canno go on as at present; either
the price must rise to cover the expense,
which it is not going to do of itself, or the
production must be diminished so as to
meet the requirements of the market. The
only possible means to keep up the present
supply without loss to the producer, would
ha ;f bo choul1 bn ahln tn DrO6uen at a