The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-18
Big SUGAR REFINERS
SLASH PRICES AGAIN
Federal and Arbuckle Com
panies Cut Figures to
$50 q Pound.
OTHER CONCERNS FOLLOW
Lowest Price in Twenty Years
Fears Held for the
Weaker Firms.

Slashing in prices Of refined sugar has
reopened the war OF the refiners. There
was Iull for a short time, just after the
new reduced tariff went into effect on
March /. II was an anxious day In the
trade and no one knew now much of
cut in price would BE- announced the next
minute. The big reHners were busy
answering the calls OF brokers asking
about prices.
The Federal company started the re.
newed cutting late Monday afternoon. 1t
suddenly chopped 10 points of the price
OF $50 cents per pound then ruling among
the five leading rehners. The Arbucke
and Warner companies Immediately re-
sponded, though the American and Howell
companies held to the higher figure.
Yesterday morning the two latter COM
panies had TO yield to the pressure and to
the flood Of buying that had poured in on
the three companies selling at the reduced
figure. They brought their price down
to 1886 cents pound. The Federal and
Arbuckle companies went back to $50
for time, bu; then slashed back to tn,
$50 figure.
At the close yesterday the Federal was
not accepting orders below 2.S5, while
the Arbuckle and Warner companies were
continuing on a $50 basis, with the pos
sibility of an advance to 3.s5.
Leading reftners said yesterday that the
war IL the stlfIest that has ever been
seen In the sugar trade
| Men who know the bitterness OF the
acknowledgements struggle In 1898
said yesterday that II could not compa re
in severity with the present fight. which
has been going on for nearly eighteen
months. The Arbuckie- Havemeyer fight
/ was n sharp encounter that was PATCHED
up In six months,
That the resources OF the companies
are being drained is admitted in the SUI
GA 10. Nv.. L..
each individual case that the strain was
near the point where there IN danger o.
/ one OF the companies breaking. Talk OF
: injured credit and difficulty OF financing
was secuted by the renners for the pres
ent. Leaders in the trade. however. were
dubious about the outlook for the future
In the case OF the weaker companies.
The revival OF the price cutting took
place shortly after publication OF the dis
i coutaging 1913 report Of the American
Sugar refining Company. an added ir-
ritant. The opinion WINS advanced that
the Sherman Law through the Gov ernmen.
suit for dlss 1lution has put the company
IN weakened position where II can't igh,
back to the best advantage. The inde.
pendents therefore have seized the oppor-
tuntty and forced the price OF sugar down
The consumer Is getting all the benei,
OF the tarin and more too. says Frank c
Lowry. the Federals tariff expert. 4,
'tIiNS inc mex CLOSING price
yesterday. said Mr. Lowry, SCAR Is the
lowest II has been In twenty Years. Thi.
Is u = cent pound lower than the aver.
age price in 1913. the previous low record
In six previous periods when raw sugai
sold al practically the same price as now
refined sugar sold from so to so cents
higher hundred pounds. Much OF III.
tarin benefit was discounted before n.
reduction went into effect on March II
the tremendous lrDp that had taH,p pla =,
In the previous six months.
Yesterdays cuts brought the price OF re
fined sugar 20 points lower than on Marcf
]. when the reduced tariN went into effect
AZ this level, with duty paid raw sugar
averaging 307 cents "A pound. and with
cost of refining nj ,65 cents n pound, tn.
refiner getting 3,7S net for his refined
product vas making only OF OF cent
pound net profit, II not losing. II is
mere case at these figures. said reflners
Of turning over one dollar for another will
no gain and possible impending loss.