The Holbrook news., 1918-04-05

IAOLS IL was lOullu Dy CduNdoS OI IhO Cuban producers that their sugar had, during the first nine months of the past year, sold for an average of about S4.24 per hundred f. O. b. Cuba, to which duty and freight added to the refners' cost amount to about $5.66 per hundred. The average sale. price of granulated by various refineries, ac- cording to our investigation, was about $7.50 per hundred, or a differential of S1.S4.
 'Tn reducing the differential to $1.3O there was a saving to the public of 54 cents per hundred. Had such a diff ferential been in use from the 1st of January, 1917. the public would have saved in the first nine months of the year about S24,SOOO00"
 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:
 1. A committee comprising repre- sentatives of ali 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.
 2. A committee comprising three rep resentatives Of the English, French and Italian governments; two repre- sentatives of the American refiners, with a member of the food administra- tion. 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 I 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 a lower price, and their persistence has re- duced Cuban demands by 15 cents per hundred. The price agreed upon is about $4.60 per hundred pounds, f. o. b. Cuba, or equal to about S6. duty paid New York.
 "This price should eVentuate,"
 Mir. Hoover said, "to about $7.30
 per hundred for refined sugar from
 the refiners at seaboard points or
 should place sugar in the hands of
 the consumer at from 8a to g
 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 speculation, extortionate profits, and in the refining alone the American people will save over $25,000,000 of the refining charges last year. A part of these savings goes to the Cuban, | 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 34 cents | above that of 1917. It is said in effect | that the Cubans are at our mercy; that we could get sugar a cent lower. | We made exhaustive study of the cost 1 of producing sugar in Cuba last year through our own agents in Cuba, and | we find it averages $3.39, while many | producers are at a higher level. We | found that an average profit of at east a cent per pound was necessary | in order to maintain and stimulate production or that minimum price of s4.37 was necessary, and even this would stifle some producers.
 ''The price ultimately agreed was 23 cents above these figures, or about one fifth of a cent per pound to the Ameri- ,an consumer, and more than this mount has been saved by OUT reduc- ion in refners' profits. If we wish to ;tif1e production in Cuba we could ake that course just at the time of all ines in our history when we want production for ourselves and the al- ies. Further than that, the state de- will assure you that such a curse would produce disturbances in Juba and destroy even our present upplies, but beyond all these material easons is one of human justice. This .reat country has no right by the night of it's position to strangle Cuba.
 Therefore there is no imposition pOn the American public Charges ave been made before this commit ee that Mr. Rolph endeavored to ben fit the California refinery of which he yas manager by this 34 cent increase l Cuban price. MT. Rolph did not fix he price. It does raise the price to ne Hawaiian farmer about that It does not raise the profit of le California refinery, because their harge for refining is, like all other re- ners, limited to $1.3O per hundred ounds, plus the freight differential on le established custom of the trade. ''NIr Rolph has not one penny of in- crest in that refinery"
 .E WANTED HIS RING RACK