Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1885-05-31
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Ihs Fscent ianprovsns zKpsl issrsd
IN tbs s0gsr markets q tbs COUNTY,.
bot more particularly Ia London and
Europe. has drawn sEte1tlon 20 tns
vrszsnt condition e the industry. and
tie present outlook - 8 Prohlem Of pee0-
liar impoftzncs inss At present 10 the
vaxs interests involved 10 tie eultiya-
ton szd manufacture of sugar No In
dostry. the world over, has suffered
more severely FROM the commercial de-
pressian Of the past year, aud IN no IN
dussry has this result been more eleariy
trzc=ahle TO the evil effscis Of over pro
duction. The enormous development
of the beet industry 10 Europe has be-
come a chief factor in determining
values. and accordingly great import
anee II attached to tbs prospective yield
OF tia. crop. the planting season.
which has been row about completed,
affords the first reliable data for esti-
mating the probable size OF the next
eIep. the fabrication of which will Gem
mescs about next Oesober. The esti-
mates. ho~evsr, that have been made
are rather wide apart, and from equslly
reliable Authorities il il claimed that
the acreage already sovn will show
cent. as compared With the crop of last
year-that is, there will be deficit of
about 49,, 900 tons, or a total yield OF mos
more thsa 1900 900 tons.
The crop has DOT vet commenced to
grow, and great deal depends upon its
DEVELOPMENT during the next six
months, for the yield depends as much,
II not more, upon the saoeharlne value
of the beet when maiured than upon
the acreage planted. Upon the basis Of
this reduction, however, a speculative
movement has started in Europe, and
all the markets on the other side of the
| Atlantic have been more or less excited
| in consequence Of the advance estab-
Iished and the increasing proportions OF
the movement. Beet sugar has ad,
vanced frsm 9 skillings = pence. toe
lowest point touched last winter. 70 Il
| shillings, and the tendency 10 still up
ward. The advance has been reflected
here 60 some extent, and this market
has Likewise sdvanced, but the intiu'
enoe has been less potent because the
bulk of our supplies are withdrawn
1 from the West Indies, South Americs
| and the Philippine Islands. and buyer:
here do not appear to have been so for
4
ance Of the shortage that is likely to ex
list in the next beet crop.
While the beet crop has become thu
arbiter Of values Of all sugar prodncinG
countries, IL is nevertheless true thai
plies, and while the s,Zs of the present
crop there is still an uncertain question
there is no reason to expect a scarcity
4 g. 49, 49, 70 NJ
cane, and it is oRly question of fav-
orable grinding whether, as to the vol
June of supply that will be available
from that source The production OF
the whole world last year was 30 much
in excess Of the requirements Of con.
sumption, that prioes wers depressed
| until they did not cover the cost of pro-
duotion, but will prospective decrease
| of twenty per oent. in the European
best crop be sufficient to reseo the
eqsilibrIam? and does the present show
| ing warrant the advance already estab-
lishedf This appears TO be the conser-
tive way of looking at the present cot
LOOK, and the response to the recent ad
vance from this side of the Atlantic
would seem to indicate that buyers are
not disposed TO fellow the lead of Lon
| don.
In this connection 1t may be interest
ing to note that while this country Is
actively supplying Great Britain with
refined sugar, the exports thither since
January LIST. amounting to over 6,0OO
tons, the sugar refining industry of
Canada has had to succomb to the
ruling depression. A press dispatch
from Halifax, a few days since, saws :
There is no improvement in West In
dia business here, as the German and
Belgian steamship lines. subsidized by
the Dominion Government, are bring
ing large quantities of beet sugar to
Canadian refiners, thereby excluding
the West India article. II Is reported
that the stocks of refined sugar on hand
are So large that both of the Halifax
rtfineries will shortly close down.
Nele York shipping List.