The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-12
SPECULATION RIFE
ON SUGAR ADVANCE
Rivalry Between American
and Federal Companies
My Be Cause.
PRICE HIGHEST IN YEARS
Supposed Crop Conditions in
Europe Also Are Having
Effect.

Not i'm twenty-five years has the price
Of sugar been so high as IL Is at present.
two years ago sales OF Cuba raw were
made at cents over the highest PRICE
OF last week. and granulated sold at St
cents. Yesterday New York reported a
slight decline in sugar prices
Naturally there is a deal OF specula-
lion as To the cause or causes that led
up to the extraordinary rise In the SUI
gar quotations. 1t Is generally conceded
taking published accounts as basis
that the sensational advance In the price
OF sugar Is due undoubtedly To the Euro
pcan drouth. but another factor has now
come TO the surface.
1t is strongly limited in New York SUI
gar circles that another element In the
rise is rivalry between the American and
Federal sugar companies. and that II is
the latter company that Is deliberately
forcing the price. UP on It's rival The
American company contracted 10 buy
more than $4,000 tons OF Hawaiian cane
sugar. The terms were that 1t should
pay the market price on the day OF ar
rival. The sugar is st!ll afloat, hence
the higher the market price Of sugar Is
pushed in the interim the more the
American Will have to pay for It's SUI
gar,
Stubborn Fight on
II will be seen. therefore. that II the
Federal company, which is the inveterate
enemy OF the American, and which is
controlled by Claus spreckels; the young.
American will be hit hard. For eX-
ample, the las, official quotations re-
ceiyed In salt Lake by mail gave the
American at $3.50, Naturally. II the
Federal can force the American. under
The terms Of Its contract with the Ha-
more the. hundred pounds than 1t fig
ured on doing. il Will be Il tremendous
victory TO the Spreckels people and like
wise a tremendous blow to the Ameri-
can.
Thomas R. Cutler OF the Utah Idaho
Sugar company said Yesterday that he
had heard OF no situation like the one
outlined, but he admitted that the dit-
ference between the Federal and Ameri-
can quotations seemed 10 bear out the
theory.
American l "e eompany. Tany""'s@ said % Mr. Cutler.
Ito keep the price OF sugar down. Ed
win f. Atkins. who is really the head
OF the American company. was in Salt
that the American company would try
10 keep sugar prices down. II it were
possible TO do So"
Speculation Is Blamed.
Meanwhile, those who have not heard
or read about the possible coup of the
Federal company adhere to the belief
that the rise Is due 10 speculation made
possible and inviting by European crop
prospects. In discussing this point, Will
lett & Grays Weekly Statistical Sugar
trade journal says
Not anything has happened to check
the advance. which Is highly specula
tive and based apparently on supposed
conditions relating 10 the European crop
prospects, which. In the general view
grow worse and worse from week TO
week. and no beet expert has thus far
ventured TO place on record an actual
estimate OF what results may be expect
ed In this uncertainty il Is natural
perhaps TO overestimate the extent OF
the shortage To facilitate the spccula-
ion. At the same time the figures OF
weights and sugar contents show great
falling off I'm the former and improve
mcnt over the latter over last year. In
dicating that the crop is reaching ma
turi;y. with the beet roots only about
half grown. quite serious condition."
The date of this publication is Sep
tember 7, and It's comment with regard
to the maturity OF beet roots Is not al
together applicable 10 Utah conditions.
In this state the beet is said to be in
prime condition and It's harvest was
scheduled to begin in Weber county
yesterday