The Morgan City daily review. (Morgan City, La.) 1916-1920, 1918-01-25

Hoover said, an examination was
made Of the costs and pro1ts Of REIN
Ing and It was finally determined that
the spread between the cost Of raw
and the sale Of refined cane sugar
should be limited to $1.s0 per hundred
pounds. The pre-war diferential had
averaged about IS cents and increased
costs were found to have been impos-
ed by the war In increased cost OF re-
lining, losses, cost Of bags, labor, insur-
ance, interest and other things, rather
more than cover the difference. After
prolonged negotiations the refners
were placed under agreement estab-
fishing these limits on October l, and
anything over this amount to be agreed
ex.ortionate under the law.
I'm the course of these investiga-
tons 1t 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
1924 per hundred (. o. b. Cuba, to
which duty and freight added to the
refiners' cost amount to about $685.
per hundred The average sale price
Of graduated by various refineries. ac-
rording to our investigation, was about
81 so per hundred or differential of
1854
I'm reducing the differential to Sl."o
there was saving to the public of ~
cents per hundred. Had such diff
ferential been in use from the Isl or
January, 1917. the public would nave
saved in the first nine months of the
year about so4 500 0nn."
Next Year.
With a view to more efficient organ
ization of the trade in imported sugars
next wear 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
duty of this committee is TO
divide the sugar imports pro rata 10
their various capacities and see that
absolute justice is done to every re-
finer.
2. a committee comprising three rep
resentatives of the English, French
and Italian governments two repre-
sentatives of the American retinerS,
with 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
point Of view of all the al
lies to arrange transport at uniform
rates, to distribute the foreign sugar
between the United States and allies,
subject to the approval Of the Ameri-'
can, English, French and Italian gov.
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 emphatically that all of the gen.
lemen concerned as good commercial
men have endeavored with the utmost
patience and skill to secure a lower
price, and their persistence has re-
luced Cuban demands by Is cents per
hundred. The price agreed upon is
about $4.6O per hundred pounds, t. o. b.
Cuba, or equal to about So duty paid
New York.
"This price should eventuate,"
Mr.. Hoover said, ITO about $3.50
per hundred for refined sugar from
the refiners at seaboard points or
should place sugar in the hands Of
the consumer at from 0H to 8
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