New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-29
u. S. Takes Options
On All Sugar Held
Here for Neutrals
Food Administration De
MES Forcing Holders to
Sell at a Loss

WASHINGTON. Oct. 28.-0ptions
have been taken by the food admins
ration upon all sugar belonging TO
neutral countries held in this country
awaiting export. This was disclosed to-
night in a statement by the admins
tration denying published reports that
it was trying to force neutrals; unable
10 get export licenses, 20 sell their
sugar at loss. .,
The options are at the prices paid ny
neutrals. No figures were gwen, but
the administration said that with the
tariff duty added the average price
would be 90 cents hundred higher
than the price it has undertaken 10
roaintain for the benefit of the Amerl-
can consuming public. There Is no IN
dication of an intention to permit the
cost to the public to be increased, so
probably few Of the options VIII De
exercised for domestic uses.
Spreckels Caused Denial
The denial was said TO have result
ed from statements by {. A. SpreckelS'
of the Federal Sugar REFINING COM
many. that holders Of neutral sugar
we're being forced by the administra-
ton to take loss. The admlnistra-
tion also took occasion to deny the
published statements that Mr.. Spreeh-
els was the only man who had not
come in with il. 1t was declared that
Mr.. Spreckels, for the Federal sugar
Refining Company, had not only signed
the contract with the administration
but was the first one who did.
While it would appear that 70 cents
per 100 pounds is trivial ltem' IL
renresents more than S2O,OOO,OOO per
annum on the sugar consumed Dy inc
American public, and 90 cents per nun
bred pounds, the actual difference, rep
resents double the amount. Inc al
ministration has for some time past
approved of sales Of sugar awaiting
EXPORT at the cost price 10 the buyers
but has limited such sales 10 manu-
facturers in order not TO disturb me
general market, thus eliminating the
necessity OF consumers paying higher
tban the basis fixed by the govern
ment. -.
leased to the American market py
france 10000 tons was neutral sugar
recently bought for France and lA'oVo
tons bought for France months ago
through the British Royal Commission
the Food Administration explained
| The additional 1880 tons of sugar
which is expected to be released to the
market this week is owned by the
Russian and Finnish governments and
is reported to be held by Grace Co.,
New York. This firm Is powerless 10
release this sugar without permission
from the owners.
Shortage Not Harmful
There has been no restriction on the
ales of such sugar to manufacturers
| and there has been no attempt on the
part Of the Administration TO force
! such holders 10 take loss, and the
only reason that the large volume OF
sugar Just now released was not avail
! able sooner was because permission
to use il had to be obtained from
France, the British Royal Commission
ard neutral countries.
There is no reason for undue haste
/ in this matter, il was stated by the
! Food Administration, inasmuch as no
ore is really suffering from the tenn
porary sugar shortage. Enforced con-
I scrvation is not an unmiXed evil. it
was added. as il brings 10 the stten-
7 lion of the American public, in a not
| harmful way. the vital necessity OF
conserving food products. America
| will have but one or two weeks of
scarcity of sugar, while Europe has
had three years of such shortage.