, 1892-12-31

We vetk much fear that we correctly repre-
sentad the effect of the election on the morn
in9 after. when we said it was a disastrous blow
10 the beet and the cane raw sugar industries
of our country, and a magnificent boom for
ne foreign sugar producer in every coun-
try.
That is what the repeal of the bounty
means and Louisiana must be more outSpoken
Aagainst il nan at present, or the RePuoilcans
= NAV acoept the statements that Louisiana
wants it revealed, and help the Democrats to
do it At 1his session.
{. . A bill to abolish duties on refined, threat
ened' from 80 high q quarter. has been sufhcl-
ent to cause many of the largest investors IN
refinery stocks to throw their shares overheard
and to wait development.
The ground between a profit and a loss IN
refining is now reduced to so narrow a strand
~ to Is per cent. protecton) thal the stocA
IS. esneoially sensitive whenever Congress IS
il session For over fye months, from Oct,
* 1891. ia March J, 1892, there was IN
1onbtedlvean actual loss to rehn6rs IN their
sLn.;nass nv reason ofan overproductlon aho g
themselves what wilr sbe the result II the
: door is thrown wide open for the overproduc-
tion % foreign refined to be put IN competition
with the home manufacture
W. ara not surprised that investors sell their
gtr.k while they can do 80 at above par ana
await events. So much for the immediate ell
feet Of the election, but the disturbance ana
distrust promise to grow more ana more SER
ous until tariff action is hnally TAKEN "u'cn
NAV not be for a year. Is II not Son7" .
strange that the same authority proposes "
keen 50 per cent duty on iron manufactures,
Nm cnmnrise 40 per cent of the cost of a
sugar refinery, while taking the u per &c
- ~A.o. mH,ov, from IT'S OutOut !
We note that our mutual friend MIR. George
Dnreon in his Paris letter to The Plant'r,
criticices our statement that the beet crops
of Europe have apparently reached their maxi
mum in which opinion high English authorities
AGREE with us, including Mir, Z. Czarnlko"'
Who was recently in this country. In t&ct
NJ Dnreau mad ertently makes the same
,tateme, IS in Is letter by giving reasons why
ne snra, Meet cultivation is not increasing, such
as doubts of the " stability OF existing sugar
Iooislation which In every country, uhdeI
some form or other, accords artlhclal auNahia
res to sugl producers, and what Is very 'm-
portant in Europe, the absence Of any guar
antee Of peace md the prospects OF war.
~ courae tlere is unused land enough in
naorlv every beet or cane sugar country to
;ncreas sugar production, but the reason why
their crop, nave reached their maximum IS
acousa rhe economic conditions are not
DSE6uSC GH0
suitable for increase furthe',
But IN the United States thsro is aIso plenty
Of land, and the economic conditions nave a.
last come to be favorable for the raising OF
sugar. if they meet the approval OF the new ad-
,n;5;stration' We have one advantage over
Europe, which Mr.; bureau calls attention to-
Wa have no possibility of a ~frighttul war III
which the principal European nations may
find themselves engaged
It will be well if our statesmen study the
probable influence Of a war, war in Europe sn5 fo ap"n the
bame industry for the sake of the advantage
it must be to US under such contingencies.
Stock in the four ports on the 8Qth nit was
74,o85 tons, against 59,2la tons 70 81 ct IT. the Dr ;nm'
nal countries. 385,642 tons, against 35l,7ll
tons last year.
At the close the markets are quiet and stea-
!, DIV. with quotations Of m9scoysdoS 2'oilso''
esntrifugals 3xc.. granulated .6oc; net.
Willet & Gray.
Esw York Dec. 6, 1892.