New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1915-02-13
THE 81 GAR sTRuGuLa1.

certed action OF the three e, eat
interests engaged i'll sugar refin-
ing, namely, the American sugar
Refinery Co., and its immediate
connections, generally known as
the Sugar Trust. the Arbuckle in
terests and the Spree kles inter
ests. Under the domination of
these interests in which we now
find the sugar producers Of the
United States and Cuba in more
or less revolt, we can now record
a month of struggle between these
combined sugar buyers and the
sugar sellers of Louisiana and
Cuba, in which the sugar refners
have summoned every possible
means of breaking down the MAJ
ket prices, while the native
strength of the sugar producers
and their ayailing of their natural
advantages have enabled them to
hold the sugar market of the
western world without the great
break in prices Oh which the Su-
gar Trust and its coadjutors were
stalking their entire strength.
In the closing days of Dee EN-
ber SO test sugar was selling in
New York at 3 cents cost and
freight, or 4.O1 cents delivered
duty paid, and white tgranrlated
sugar was selling at 4.S5, the su-
gar refiners securing for them
selves during this dull season
whatever profit lay in the differ
entail of "a cents per hundred
pounds between the price of 96
test sugar and of white. The
week covering the closing days of
December and the earlier days of
january found the reflners un-
able to hold 90 test sugar down
to 3 cents and odd purchased
were made at 3 1-6 cost an
freight, equal to 407 duty pail
delivered, and yet the busines
was comparatively light ana
while this cut the margin Of the
sugar refners down six cents per
hundred pounds, or from 81 cents
down to 79 cents per hundred
pounds, or from "a cents down to
7S cents per hundred pounds.
they maintained the low level of
prices for white refined as one of
the bases upon which to insist on
lower prices for the off coming
crop Of Cuba sugar, sales for
future delivery of which wer'
then making. This advance Of
1-16 in the cost and freight su
gars was maintained for about a
week, with no change i'll the price
of white granrlated. On Janu-
ary 6 the refners succeeded in
buying at 1872 off, or 3 1-32 cost
and freight, equal to 4.04 deliv-
cred, from which there was an
reaction and 3 1892 be-
came the ruling price rom Janu-
ary to January II inclusive,
equal to All cents duty paid de
livered. During this week white
granulated sugar was MAJ ked
down to Ats in a desperate at
tempt to break the Cuban mar
ket. but failed, the refiners offer
ing white granulated sugar at 4
"a cents for this purpose. On
January II sugars again sold
down to 3 1-16, rallying on the
18th to 3 3-32 and on the 14th
falling again to 1903 cents cost
and freight and during five days
this cost and freight price pre-
vailed, the refiners holding white
sugars down with their own diff
ferential standing at 81 cents per
hundred pounds.
On January 10 the market for
SO test was marked down to 2
SIG, in fact, it had been reported
down the day previously, but the
sales were for sugars for ad-
vance delivery, and not available,
and therefore in degree fictitious
so far as the actual market was
concerned.
Our readers will recall the fact
that under the domination of this
of New York refiners
they forced upon the sugar trade
q rule that sugars bought to ar
rive and due within twenty days
should be called sugars in stock
and practically spot deliveries.
The fiction in all this lies in the
fact that twenty days would en-
able the sugar producers of Cr'ba
to take standing cane in the field
and convert it into sugar. to ship
The sugar and have it delivered in
New York within the twenty
dovc time MAXINE an ahsolutalv