, 1885-01-10

out pecunlary lndemnltleS, UnaC must 10
procured without delay, and the delay
is the same as q temporary suspen-
sion of payment. Another difficulty is the
time when the business can be stopped
with least loss. To do so, while the roots
are in full growth or approaching maturity,
NAV be as injurious as to choose the time
when the manufacturing is going on. At all
events one can we'll imagine how it came,
that the business was not discontinued as
early as it began to be a losing one. There
was besides naturally a hope, that things
might take a favourable turn, and as long
as there was any reasonable ground for
such q hope, it could not be expected, that
people would incur the sacrifice of an en-
terprize that had been at one time exceed
ingly profitable and might become so
again. And how could they be to blame
for entertaining such a hope, or at all
events not foreseeing the enormous fall,
that did occur later, when the commercial
world in London entertained and proclaim
ed The same belief When, as | see from
the Avis of 31st ult., a paper like the
4 Arqosu could publish without contradiction
or expressed dissent, on the 18th March
L last year, a letter from q house engaged in
I the sugar trade, concluding Il long state
ment of production and consumption, with
remarks, as if the unprecedented" low
price to which sugar had fallen tit was
then 16s) WAS owing to merely temporary
] causes, talking of IA ''rapld rise III prices
which might take place when once the
turn of the market shall have Gomez, and
ending with the expressed opinion, that
"the turn of the tide is possibly nearer at
hand than most people suppose" We are
quite justified in supposing the views here
expressed to have been those generally
current III London commercial circles at
the time, and by them impaired to the
merchants and lubricants on the continent.
However it may be explained, the fact
stands clear, that for the last seven months
at least, beetroot sugar has without excep-
ton been sold at two thirds, or even one
half, the cost of simply buying the roots
and delivering the product from the factory.
What the consequences must be, is easy
to imagine. AS early us four months ago the
losses to English merchants engaged i'll the
sugar trade were estimated at E4,000, 900,
and a German paper, in speaking OF the
large quantity OF beetr00t sugar yet III the
market, adds the very Poignant remark,
that the parties, whose sugars were unsold,
might perhaps be in a better position than
those, whose produce had been sold, in
~sinuating thereby, that the former had
still their property, at least, while the latter
had got rid of the property, but were Dot
quite so sure of getting their money.
1t is but natural, that the English as
we'll as the German press should observe
great caution, to avoid causing an alarm,
which might perhaps prove to have been
unnecessary or exaggerated, where great
interests are at stake; still they cannot
Systematically conceal notorious facts. OF
such We learnt already i'll September or
October the failure of a large sugar-estab-
lishment in Vienna with several million
Marks liabilities, and together with that
we see public notices from banking firms,
for the purpose of preserving their credit
intact, that they were unconnected with
the sugar-industry. We have read of fac
toriesnotifying to their roo t-deliverers, that
they could not pay for the roots more than
half of what the latter had a right to de-
mand, which is in substance a declaration
of insolvency and an English paper spoke
at the end of October of this as quite a
common thing. Meetings have been held
in many places in Germany to deliberate
on measures for saving the whole produc-
ton from ruin, and but quite lately a gen
eral assembly from all parts of the country
had been called together in order to see if
some common plan could be agreed upon,
for mutually securing each other against
renewed Oyer-production. Among the pro-
jects brought forward was one to appoint
Committees all over Germany TO SuDeryiSe