Polk County news. [volume] (Benton, Tenn.) 191?-1983, 1918-01-31

Hoover said, -an examination was
made Of the costs and prOnts OF REIN
ing and Il was nnally determined that
the spread between the cost OF raw
and the sale of refined cane sugar
should be limited 70 $50 per hundred
pounds. The pre-war dlfrerential had
averaged about IS cents and Increased
costs were found TO have been impOs-
ed BIZ the war In increased cost OF re-
finIng, losses, cost Of bags. labor. inSur~
ance, interest and other things. rather
more than cover the difference. After
prolonged negotiations the renners
were placed under agreement estab-
fishing these limits on October l. apd
anything over this amount TO be agreed
extortionate under theslaw.
I'm the course Of these investiga-
lions Il was found By canvass OF the
Cuban producers that their sugar had.
during the 6rst nine months OF the
past year. sold for an average OF about
SI.2A per hundred I. o. b. Cuba, to
whicA duty and freight added to the
reffners' cost amount to about $500
per hundred The average s"le price
of granuiated by various refineries. ac-
cordlng to our investigation. was about
$3.50 per hundred, or a dIfferentiai OF
$1.s4.
an reducing the difrerential to tl.3O
there was q saving to the public OF ~
cents per hundred. Had such OH.
ferentiaI 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 q view to more efficient organ
txation Of the trade In imported sugars
next year two committees have been
formed By the food administration:
1. A committee comprising repre-
sentatiyes of all Of the elements OF
American cane refining groups Inc
principal duty Of this committee Is 10
divide the sugar imports pro rata 10
their various capacities and see that
absolute justice IS done TO every re-
inner.
2. A committee comprising three rep
resentntives Of the English. French
and Italian governments; two repre-
sertattves OF the American rei'nerS
with q member Of the food administers
ton. Only two Of the committee have
arrived from Europe. but they repre-
sent nc allied governments. Tie du-
ties of this committee are to determine
the most economical sources from q
transport point Of view Of all the a''
lies to arrange transport Mt uniform
rates, to distribute the foreign sugar
between the United States and allies
subject to the approval OF thu 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 ha9 the ftnal
voice. This voice has rested In the
governments concerned. together with
the Cuban government. and wish to
state emphatically that all Of the gen.
tl8men concerned az good commercial
men have endeavored with the utmost
patience and skill to secure O lower
price, and their persistence has re-
duced Cuban demands By lb cents per
hundred The price agreed upon ID
about $4.OO per hundred pounds. I. Q. b.
Cuba. or equal to about 70 duty paid
New York.
"This price should sventuats,"
Mr. Hoover said, 80 about $3.50
per hundred for refined sugar from
The rsssners az seaboaro poInts o.
should place sugar In the hands OF
the consumer az from GA 70
cents per pound, depending upon
locality and conditions Of trade, or
at from I 20 esnts below the
prloss Of August Iast and from one
half 20 a cent per pound cheaper
than todsy.
"rhere 10 now an elimination OF
speculation, sxtOrtionate profts, and
In the refining alone the American
people will save over $25O00.0O OF
the refining charges last year. A part
Of these savings goes to the Cuban,
Hawaiian, Porto Rican and Lousianian
producer and part to the consumer.
Appeals to prejudice against the
food administration have been made
because the Cuban price is 81 cents
above that of 1917. 1t Is said In effect
that the Cubans are at our mercy;
that We could get sugar cent lower.
We made exhaustive study Of the cost
OF producing sugar In Cuba last year
through our own agents In Cuba. and
we End 1t averages $8.a9, while many
producers are at higher level. We
found that an average profit Of Mt
least cent per pound was necessary
In order to maintain and stimulate
or that a minimum price OF
S4S7 was necessary. and even this
would stife some producers.
"The price ultimately agreed was 28
cents above these figures. or about one
ffth Of a cent per pound to the Ameri-
can consumer. and more than this