The Providence news. (Providence [R.I.]) 1891-1906, 1900-04-09

Today at all the chief stores where
provisions are sold in Providence you
can buy nineteen pounds of the best
granulated sugar for a dollar. Sugar
has never been lower in price. and Of
similar quality. The Arblckle Brothers
have further cut the price, as against
the sugar trust. Mr.. Hasemeye-, the
head OF the American Sugar refining
company says that the trust will not
meet the Arbuckle cut; AMI that The
only reason for the Arbuckle act was 10
hurt everybody employed in the sugar
refining business. The difference in the
price at this time. between raw and re-
fined sugar is As cents a hundred
pounds. Mr.. Havemeyer has stated
that when the difference between raw
and refined sugar is less than so cents
a hundred pounds. money is lost; when
this price is above 80 cents, there is a
profit in the business--hence now he
argues the Arbuckles are losing money
fn order to force the trust to 'ose money
also; 1t is difficult to accept such logic.
Many leading papers in great business
centres have written concerning the
sugar situation--some with force and
some without force. but this from the
New York Sun, seems 10 toucn tie
core:
The situation is serious for those en-
gagged in refining sugar, but especially
for the American Sugar Refining COM
pany. 1t can't afford to buy UP any
more indcpcnGer. rehneries to olose
them UP, and the independents won't
get out OF their own accord. And there
you are. But even If the present inde-
pendent refiperies were 20 be closed,
1t would be only a short time before
others would start up. The sugar sltu-
alton today is exactly where II was pe-
fore the American sugar refining COM
pany was formed. The business was
cut up, everybody was at his neighbors 3
throat and nobody was making any
money. Then the trust got control
of the business and everybody in it
made money. That tempted others to
go into the business. They did 80. and
competition has ruined the business
again. The Sugar trust" is now real
ly struggling concern. and all the in
dependents are struggling as well. All
OF which shows that SO long as there
Is profit in any enterprise. no one man
or set OF men can control It to the in
Jury of anybody but themselves.
Is 1t not evident that the Trust Cure
lies In just such a situation? But the
case OF sugar Is not at all similar to
the case OF kerosene oil. The control
OF the product of sugar is beyond the
power OF any combination OF men to
control; but oil can be, and is, so con-
trolled: the oil trust can raise. or low
er the thirty per cent, and takes away
for us twenty millions additional to the
ordinary price in dollars. and gives 1t
20 their stockholders. in dividends.
The course OF prices for Sugar shares
given by the New York paper this
morning does not seem TO justify some
things which Mr. Havemeyer said. The
Mail and Express gives us this state
ment:
The almost universal belief in the fl =
nancial district OF changes Of great i'm
portance in the affairs OF the American
Sugar Refining Company were
strengthened today by the course of
Sugar shares. The stock closed at 1lSs.
yesterday, and in the opening transac-
tions this morning sold up TO 1l5N and
then to 1i6A. Operators in the stock
were fairly large, several 1000 share
blocks coming out The stock closed at
lis.