Sequachee Valley news. (Sequachee [Sequatchie], Tenn.) 1896-1952, 1918-01-24

| made OF the COSTS anu pAOulS % rem
ing and Il was finally determined thai
the spread between the cost of raw
and the sale OF refined cane sugar
should be limited to S1s0 per hundred
| pounds. The pre-war differential had
averaged about IS cents and Increased
costs were found TO have been impos
ed by the war In increased cost Of re.
filming, losses, cost Of bags, labor, insur.
ance, interest and other things, rather
more than cover the difference. After
prolonged negotiations the refiners
were placed under agreement estab-
fishing these limits on October l, and
anything over this amount TO be agreed
extortionate under the law.
"In the course of these investiga-
tons II was found by canvass Of the
Cuban producers that their sugar had,
during the FIRST nine months OF the
past year, sold for an average OF about
$4.24 per hundred I. o. b. Cuba, to
which duty and freight added to the
refiners' cost smount to about $500
per hundred. The average sale price
of granulated by various refneries, &C
cordinR to our investigation, was about
$3.50 per hundred, or difrerential OF
$1B4.
"In reducing the difrerential to S1.3o
there was & saving to the public Of 81
cents per hundred. Had such n diff
ferential been in use from the LIST of
Januarv, 1917. the public would have
saved in the first nine months Of the
year about s24S0oo00"
Next Year.
With a view to more efficient organ
ization of the trade in imported sugars
next year two committees have been
formed by the food administration
l. A committee comprising repre-
sentatives of all of the elements of
American cane refining groups. The
principal duty Of this committee is to
divide the sugar imports pro rata to
their various capacities and see that
absolute justice is done to every re-
finer.
9. A committee comprising three rep
resentatives of the English, French
and Italian governments; two repre-
sentatives of the American refners,
with a member of the food administra-
ton. Only two of the committee have
arrived from Europe, but they repre-
sent the allied governments. The du-
ties of this committee are to determine
the most economical sources from a
transport point of view Of all the al
81 a nnffnYn1
rates, to distribute the foreign sugar
between the United States and allies,
subject to the approval Of the Amerl-
can, English. French and Italian gov
ernments.
This committee, while holding strong |
views as to the price to be paid for
Cuban sugar, has not had the final
voice. This voice has rested In the
concerned, together with |
the Cuban government, and wish to
state empha tiearly that all Of the gen
concerned as good commercial
men have endeavored with the utmost
patience and skin 10 secure a lower
price, and their persistence has re-
duced Cuban demands by Is cents per
hundred. The price agreed upon Is
about $3.50 per hundred pounds, I. o. b.
Cuba, or equal to about SO duty paid
New YORK
"This price should eventuate,"
Mr.. Hoover said, "to about $3.50
per hundred fer refined sugar from
the reflners at seaboard points or
should place sugar In the hands Of
the consumer at from eN to
cents per pound, depending upon
locality and conditions Of trade, or
at from to cents below the
prices Of August last and from one
half to a cent Per pound cheaper
than today.
There is now an elimination Of
extortionate profits, and
n the refining alone the American
PEOPLE will save over $25 100000 Of
he refining charges last year. A part
If these savings goes to the Cuban,
Porto Rican and Lousianian
PRODUCER and part to the consumer.
Appeals to prejudice against the
God administration have been made
because the Cuban price 10 "a cents
bove that Of 1917. 1t is said Ia effect
hat the Cubans are at our mercy;
hat we could get sugar q cent lower.
We made exhaustive study Of the cost
4 producing sugar in Cuba last year
through our own agents In Cuba, and
We ind 1t averages $3.50, while many
roducers are at higher level. We
ound that an average profit Of at
east a cent per pound was necessary
n order to maintain and stimulate
reduction or that minimum price of
4.37 was necessary, and even this
yould stife some producers.
1.-THE price ultimately agreed was q