The sun., 1903-01-05
COURSE OF SUGAR
~ IN THE YEAR 1902.
Low Prices Reached Which the
Trade Hopes to See In
proved IN 1908.


at six shillings sixpenoe per III pounds,
for beet sugar, and 81 cents per pound
for 90 degree centrifugals; but In the
middle Of the summer values had fallen
to six shillings for beet sugar and
8 5-lo cents for centrifugal When 1t Is
remembered that only as far back a. 1880,
during the large speculative movement
In the principal markets Of Europe. the
price Of beet sugar went a. high as twenty
eight shillings. the vast shrinkaee which this
commodity has undergone rs revealed
The loss has been primarily due to the
increase in the production OF beet sugar
in Europe. the shrinkage being further
stimulated by the export premiums or
bounties which the different Governments
in Europe paid to the growers when the
product was shipped abroad; but which
system, in turn, caused the price for con-
sumption at home in European countries
TO rule 80 high that the per capita con-
umption in the chief beet producing
countries. like Germany and Austria, re-
mained extremely small. thus leaving
larger and larger quantities available for
export from year to year.
The United States, the largest consumer
per capita Of sugar. next TO Great Britain,
has acquired, since the Spanish American
War, two important sugar-producing coun-
tries. namely. the Philippine Islands and
Porto Rico. Before that war we owned
the Hawaiian Islands. The production
OF sugar in all these islands, together with
the increased production Of beet sugar
In this country, makes the territory be-
longing to the United States, to . large
degree an important element, not only
as regards the price at which sugar Is pro-
duced, but also as regards the figure at
which 1t Is sold
As regards the production Of beet sugar,
which began about thirteen or fourteen
years ago Originally by Claus Spreckels
in California;, IL has made slow progress.
chiefly because for several seasons the
crops have been severely interfered with
by weather conditions, especially In CAL
nornia The total production OF beet sugar
in the United States last year is stated 10
have been about 1873 900 tons. while for the
coming year the estimate Is about lso.-
900 tons.
The European Governments have found
by experience that the protection given to
growers OF beet sugar has been a detri-
ment instead Of a benefit. the production
growers. instead Of being benefited. have
been constant and serious losers from the
bounty system, In as much a. the very low
price which they realized has fallen short,
40 that the bounties did not nearly compen-
safe them.
1t may be interesting TO give some figures
relating to the production OF cane sugar
in the United States and Its possessions last
year. Here Ia the showing:
Louisiana. $4,000 tons
Hawaiian Islands. 40. 900 tons
Porto Rico. As. 900 tons
Philippine Islands. 10. 900 tons
Sugar prices have improved Of late.
until beet sugar in Europe Ia selling at 9
shillings, AZ pence per III pounds and %
degree centrifugals at sT cents. The i'm
provement that has eet in 10 due to de-
crease In the output Of beet sugar In Europe
for the coming season, the estimates OF last
year and the coming year being a. follows:
isoi-iso2. e,s4s. .0ss tons. ios2-iooe. 500, 900
tons
Speaking Of consumption, there has been
a steady increase during the whole OF 1902
In the use Of refined sugars In this country,
which has been helped along chiefly by the
low prices. These prices have been es-
pecially favorable TO canning plants The
refiners In this country have had a good
year.
The low prices reached in producing
countries have been disastrous to planters
and farmers everywhere. but 1t is the general
expectation that there viii be an improve
meut In prioss during the year ieos, and
especially II the anticipated heavy decrease
In the acreage planted for beet sugar in
Europe should be realized.
According TO the latest estimates OF stocks
OF sugar held In this country, importers and
refners are carrying iSeo7e tons, as COM
pared viii ns.os4 tsns at ths sarns time
Last year