The herald., 1898-04-10
OFFICE OF THE HERALD.
Los Angeles, April ., 1873.
1--WE rarely confess that we deserve what
we suffer"

s'We rarely confess that we deserve what
we suffer-
Mvre or less commotion has been caused
in grocery, in sugar and also i'll Stock In
change circles by the allegation current
this week that the American Sugar Re
fniug Company has virtually abandoned
she plan pursued for number or years
In regard to Its sales OF refined sugar
through the trade, says Bradstreets s.
Known as the equality or factor plan.
the system IN question virtually made the
wholesale grocery trade the agents or the
refiners. and in conjunction with system
of rebates provided for an absolute uni
formty and steadlness of refined sugar
prices. There Is some uncertainty as to
whether the abandonment OF this method
Is complete, and d great deal OF discus
sion has naturally been created as to its
effects upon the trade. Ii is contended III
some quarters that the matter involves the
certainty OF Generalization OF prices and
renewed cutting OH all sides, such as ex-
listed some years ago, before the co-called
sugar trust and the wholesale Srocers' or
ganizations joined forces and inaugurated
the policy which has been pursued with
considerable degree of success up TO the
present time. So far as Wall street is con-
Cerled the inference generally drawn Is
that the abolition of the factor system is
the opening gun in trade war between
the American Sugar Refining Company
and the new independent reflnerieS in
Brooklyn, which have been constructed by
the Messrs. Arbuckle and Doescher re-
spectively and which are approaching
completion, so that their active compet!-
tlon with the American company is ex-
pectcd to begin before the coming summer
Is well advanced. The weakness OF sugar
stock in the market would seem TO bear
out such conclusions although 1t is as yet
difficult to ascertain whether the selling
which has attended its decline from over
1i0 to 1091h Is due to the operations by
stock market bears or to the realization of
long holdings by investors or insiders. The
position which sugar stock holds as the
prominent speculative security invests
these matters with an unusual degree of
practical interest.
1t Is reported that plans looking to the
formation Of a trust composed of the
Maine sardine packers are almost per-
fected. The corporation. when organized,
is to have capital of So, 900 900. There are
about fifty factories being operated at
present These factories turn out some
$4,000 cases yearly.
At the San Francisco Stock and Bond
Exchange yesterday morning. Hutchinson
Plantation sold at 4SA to 43a. Spr!OS Val
ley Water at 1914, Southern Pacific Brancn
Railway 6s at i1O% TO l10iS Ga decline OF
1lO. Pacific Gas at S4la San francisco Gas
at So and Oakland Gas at As.
The Investment Board reports sales of
Giant Powder at 41h, Hawaiian Com
mercial at 24is to 25. Hutchinson Plantation
at 43ia to A, San Francisco Gas at S3ss to
S32t and Spring Valley Water at 80 to
9sai.
O O O
The London Globe is quoted as saying
that It understands there Is hitch in con-
nection with the Chinese loan, owing TO
the Stock Exchange committee refusing
to list 1t for quotation until the emperor of
China ratfieS it. France and Russia, the
Globe adds, are strainng to prevent the
ratification. and 1t Is possible the mat
ter may yet require the Intervention Of
Germany and Great Britain.
O O 0
Consul-General Beaupre writes from
Guatemala, March 5, 1898: Trade and COM
merce are revlvng. One of the most graf
flying things to report IS that the coffee
crop will be much larger than expected.
The shipments from the ports at this date
average considerably more than at the
same time last year and. as the price Is
rising, financial conditions Will be i'm
proved.