The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-08-20
SUGAR is ADVANCING
THE TRUST REAPING THE RE-
WARDS OF IT'S VICTORY.
l. 4 Week Prices Climbed Upward
and This Week There VIII He An
other Jump-What Retailers Say.

NEW YORK, Aug. 19.-The Sugar Trust
is beginning to bag its profits, even before
the tariff bill is signed. The cash prices of
refined sugars sold to the consumers have
advanced three-fourths of a cent per pound
within the past fortnight in the large retail
stores down town, while the small retail
grocerymen in the uptown districts and
elsewhere in the city have put up the fig
ures fully L cent pound, as compared
with the prices of two weeks ago. A fur
Their advance Of l cent a pound in the price
of refined sugar is expected by downtown
retailers on Monday. The retail cash prices
yeste rddy according TO the reports of sew
eral dealers, were as follows: GRADUATED
cents a pound; cut loaf, 53ic; powdered,
512c; coffee A, 4S4c; coffee Il, 412c. and
coffee c, 4l4c. From one-half a cent to l
cent a pound is added to these prices by
the small grocers, who do a credit business
to a greater or less extent. Raw sugar adj
vanced yesterday 10 315 cents, previous fig
ures having been Csc and 34c. Stocks of
refined and raw sugars are abundant and
the rise in prices is simply due to the man.
ipulations of the trust. The present price
of raw sugar allows 1 cent a pound for re-
filming, it is believed, and the trust admits
three-eighths of a cent profit.
j. A. Kemp, of the retail grocery firm of
Callahan q Kemp. told your correspondent
that the advance in prices had not affected
trade materially. The fear of foreign COM
petition has compelled the trust to keep
its prices down. Mr. Kemp said he be-
leved the agitation would continue in the
next Congress, when effort would again
be made 10 make sugar free of duty.
William A. Livingstone. manager of the
large retail grocery house of j. W. Hamb-
let. said that standard sugars had gone up
three-fourths or cent and higher prices
We're expected. The Trust has every thing
ii pleases, said Mr.. Livingstone, but its
system of enforcing adherence to its prices
is better for the retailers and jobbers, be-
cause ii prevents cutting of prices"
A dealer who controls the largest trade
in sugars among the. restaurant keepers
in the city said that the advance in prices
was causing a disturbance among retailers.
Sugars have advanced Is per cent. within
the past six weeks, said this dealer, all
on account of the tariff legislation. The
condition of the restaurant trade is fear
full, fully 60 per cent. of the restaurants in
the Tenderioin district having failed within
the past year. Those now in business can
i'll afford to stand rise in the prices of
| sugar or anything else.
In Wall street sugar stock has been quiet
| for a few days, but yesterday, when the
p Senate resolved to have no more tariff leg
| iSlation ii began to boil. The feeling of
hostility against the Sugar Trust is intense
destiries will have to yield. This however,
may not prevent an appreciation in the
SndTeS. Inc trust IN the next SIX months
will be in a position to reap a harvest,
both because of the protection of refined
sugar and it's enormous operation in the
raw product.
The insiders have absolute control over
| the market for the certificates, as was evil
| denced by the movements of the stock last
| week. The bears were given full leeway,
| but only because those who have the stock
| felt that they could turn the speculation
| their way whenever they chose. For sew
| eral days the stock was kept bobbing
| around LOG and 10S and additional short
| lines were put out at that range. Yesterday
| it was presto. change, and a rise to within
| a fraction of Ill was engineered with all
| the ease in the world.
| The story of the row between magnates
! of the Whisky Trust in Russell Sage's Of
| flee, told yesterday. was read with interest
| by Wall-street men, who have been Won
| dering for several days what was going or
| in Whisky Trust circles. Every one knew
| that the trust wanted to borrow s., 000, 900
| and wants it now badly. But Uncle Rus
| SELF doesn't give up even a half million
| unless he holds the strings. which he at
| tacheS himself. The managers of the Wits
| ky Trust are, it is said, In terrible stew
| They have a great lot of whisky in hand
| If they don't get il out quick, before the
| tariff bill becomes a law. they lose 20 cent:
| a gallon for every gallon now in hand. TX
| take all their whisky out of Uncle Sans s.
| pawnshop requires $5,000,000 In cash. AnC
| nobody will lend it to them, and then Cleve
| lands action on the tariff bill is uncer
| tain. This is the peculiar situation in which
the Whisky Trust found itself to-day.