The evening world., 1911-09-21
DROUGHT IN EUROPE HITS
THIS COUNTRY.

This SOONtn''
..rhen lonr-continued heat and drought
IN Europe have seriously impaired the
nowing beet sugar crop OF France
srma and Austria. Estimates OF a
reduction of from 100000 TO l'SV'w'
Sons or m~ore-nearly one-hfth-ln 'he
suppiies OF Europe are generally MADE
specs the United states usually I'M
port some OF this sugar. ] asked
mo; but we here feel the loss IN an
other way. When the European Meet
suGar crop Is normal. enough sugar ~
produced to supply the continent ana
Enpland besides. This year the crop IS
M, only a million tons short. but the
bse,s are OF poorer quality thar u'ua'.
i've mos. other vegetable products OK
A., excessively dry season. they are apt
"a be withered and small IN size Con,
ssauently, less sugar can be eA'rae'e'
from them. ,
SNOW. since the continental coun'r'es
ara minus their natural supply VI
supgar. they are invading our ans
sugar markets IN the West inu'eS'
rY.uallv these are non-competitive. Al
.,.sent. however, they are bes!eged BY
!. multitude Of buyers and prices ascehu
accordingly.
Gin short. the threatened scarcity has
caused excessive speculation IN hu-
rome continued Mr.. Allen. ana AZ
London and Hamburg. the iead'hs
.urar markets OF the world, sugar prices
have advanced ~ cents per pound since
Jpue n. Growers OF cane sugar, IN the
face of a certain shortage in the beet
product. have similarly advanced the
price of their product ia cents per
mound In the same period.
"The American Sugar Refining Conn
many does not " an acre OF cane
.ugar land, NOR does It produce a pound
~ raw sugar. II depends for Its sup
p,,es OF raw sugar upon the growers
OF, Cuba. Porto Rico. the philippines
Uawau. Java and other sugar coun-
tries.
ct has, in common with all other
rehner at home and abroad, been COM
relied TO secure its suppliej from these
sources at constantly advancing prices
'On June Is raw sugar could be Sc
cured at $50 cents per pound. Last
week the corresponding price was b'7b
cents per pound. on the June date
this was selling graduated
susa at 40 cents per pound net while
recent quotations have been as high as
so cents per pound net.
MUST TAKE CARE OF THE
STOCKHOLDERS.
A regards our policy, It will be
sesu from these prices that we rave
fairly maintained a stable margin be-
tween raw and refined sugars we
must ALLOW a hxet amount for the ex'
penses OF manufacturing and for our
stockholders"
'sBut will the price OF sugar continue
to rise indefinitely l asked.
"Tho present furry should dis
aupsar By next month" hopefully
declared Mr.. Allen.
/ '.rhe domestic sugar crops, includin9
both the beet and the Louisiana canes
promise good yield. Their harvesting
has already commenced and VIII be II
full progress in October.
we also hope that the loss IN Eu'
rope has been exaggerated. The actua
figures cannot be known before De
cember or January. and 1t nay be TIA
the calls upon what are almost e%c!u'
sively American supplies of raw sugai
will gradually diminish.
when raw sugar goes down the re
tail price Of refined sugar win be less"
And, meanwhile. what should thu
consumer dot"
when sugar Is high go slow on 1t
II too much Is consumed the avallabl'
quantity will be diminished and price
become stu more -preh'bltiys%l.s.a.