The Meridian times. (Meridian, Idaho) 1909-1938, 1918-02-08

ttoofef Satu, "un examination was
made OF The costs and profits of refin-
ing aud Il was finally determined that
the spread hetweeIt the cost OF raw
and the sale of refined cane sugar
should be limited TO S1.30 per hundred
pounds The pre-war differential had
averaged about 50 cents and Increased |
costs We're found TO have been impos-
ed by the war in increased cost of re-
inning, losses, cost OF bags, labor, insur-
ance, interest and other things, rather
more than cover the difference. After
prolonged negotiations the rehners |
were placed under agreement estab- |
fishing these limits on October l, and |
anything over this amount to be agreed |
extortionats under tbs law.
I'm the course OF these investigs
tions II was found by canvass of the
Cuban producers that their sugar had,
during the first nine months OF tbs
past year, sold for an average of about
S424 per hundred T. o. b. Cuba, to
which duty aad freight added to the
renners' cost amount to about S5.00
per hundred. The average sale price
of granulatsd by various renneries. ae-
cording to our investigation. was about
$3.50 per hundred, or differsntial Of
S184
In reducing the diffeFential TO $3.50
there was a saving to the public OF o.
cents per hundred Had such diff
ferential been In use from the LIST OF
January. 1917, the public would have
saved In the FIRST nine months OF the
year about S24. 100000"
Next Year.
With view to more efficient organ
ization OF the trade In imported sugars
next year two committees have been
formed by the food administration
|. committee comprising repre-
SentativeH OF all of the elements OF
American cane refining groups. The
principal duty of this COMMITTEES Is 10
divide the sugar imports pro rata TO
their various capacities and see THAT
absolute justice is done to every re-
finer.
g A committee comprising three rep
| resentativeS Of the English, French
| and Italian governments; two repre-
sentatiyes of the American fefinsFS,
With member OF the food adfninistra-
| rion, 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
| transport 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
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
| governments concerned, together with
the Cuban government. and l wish to
state emphatically that all OF the gen
tlemen concerned as good commercial
men have endeavored with the utmost
patience and skill to secure q 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. 2. y.
Cuba, or equal 70 about $aa duty paid
New York.
".eThis price should eysnt4ats,@
MIR. Hoover said, ..te about S.3e
per hundred fer reNned sugar frem
the refiners at seaheard points or
should place sugar In the hands ef
the consumer at from sIa to y
cents per pound, depending upon
locality and conditions Of trados or
at from TO 2 cents below the
prices Of August fast and from one
half to a cent per pound cheaper
than today.
There is. now an elimination OF
5 speculation, extortionate profits, and
/ in the refining alone the American
people will save over S25,000.0Oq OF
: the refining charges last year. q par'
| of these savings goes to the Cuban
/; Hawaiian, Porto Rican and Lousianiar
} producer and part to the consumer.
: Appeals 70 prejudice against tbs
!. food administration have been mad;
because the Cuban price ia "A cent
s above that of 191T. Ii is said In etree
\ that the Cubans are at our mercy
3 that we could get sugar a cent lower
0 We made exhaustive study of the cos
: Of producing sugar In Cuba last yea
through our own agents in Cuba, ant
:. we find it averages $3.50, while man.
e producers are at higher level. w
Il found that an average profit of a
= least cent per pound was necessar.
/. in order TO maintain and stimulat
l. production or that minimum price 0
Il $437 was necessary, aud even rhi
r would stitie some producers. - tn'
g "The price ultiinatelv agreeg was Z
r cents above tRese' figures, Of gpott 9n9
4 fifth OF cent per poppd 70 the Amer.
\ can consumer ana T9Fe ipan tBl
4 amount has Aeen SAVED by our reaa'
d ion ii rehnerz prQfits. IL ne wisn {
IL stihe pr9anefiaii III Cuba Ss~
&. take t6at euars@s 1uS ecu
~ Etmea a. at the time of s