New-York tribune., 1919-03-13
Sugar Consumption
Large Despite War
Economy Campaign
Babst Says American People
Used About Normal Guam
iity in 1918; Profits for
Year SII.71 a Share

Limited government control over the
sugar industry in the United States is
necessary through the present year.
This is the statement made by Earl
b. Babst, president of the American
Sugar Refining Company, in the report
for 1913, which was read to the stock
holders at the annual meeting in Jer
sey City yesterday international OBJ
legations, Mr.. Babst explained, make
control necessary.
"etfected by the Sugar Equalization
Board, Il corporate agency of the United
States, which b. a series of contracts
with the various producing, refining
and distributing units of the industry
seeks stabilization Of prices and an in
ternational distribution Of supplies
without the competition usually pre-
valling in the world market" He added
that the company had entered into such
contract with the government.
Consumption Is Normal
"Contrary to current belief" he con-
t.nued, "and Notwithstanding the limit
ations imposed upon consumption, we
have consumed in 1918 an amount al
most equal to the yearly average of the
last decade. Consumption has approx
mated 10000 tons day, or at the rat te
of 10000 tons month, which is about
the average normal consumption during
the last ten years.
"The saving effected by conservation
has been to considera Bile degree offset
by the increased purchases of those who
because of the publicity given to sugar
restrictions, bought more than they
they otherwise would. Necessarily, the
ratloning was administered horizontal
ly throughout the United States, and
while the normal consumption of GER
tain localities was reduced, in others
the ration was in excess Of normal
'Whilc the total business of the
company, including sugar, syrup, mo-
lasses, cOoperagc, timber, railroad and
tank car operations, was again in excess
of $500, 600 600, yet the net profit from
operation of S6G6l ,6S3 was substan-
TALLY smaller than for 1917. The profit
Of about 3 Is cents on each dollar of
sales is one of the smallest returns in
the manufacturing and merchandising
field.
The trend of world sugar conditions
and of the probable international re-
adjustment continues so uncertain as
to Justify policy Of keeping strong
in quick assets. Four new beet sugar
plants have been added during the
year, bringing the number in that in
dustry to total of l01 factories in the
United States owned by forty-fve beet
sugar companies. The number of cane
sugar reiineries continues twenty-five,
owned by fifteen refining companies" J."
Charts in the report show that sugar
Is cheaper in the United States than in
foreign countries and has not in
creased correspondingly with other
staple articles Of food.
Directors Are Reelected
At the annual meeting Edwin F. At
kiNs, James II. Douglas, Edwin S.
Marston and Washington B. Thomas
were reelected directors. All the off
GERS were reelected by the directors
at the organization meeting, the only
change being that Joseph II. Freeman,
secretary Of the company since 1910,
was elected general counsel. Major
Edwin r. Gibson, assistant secretary,
who was acting secretary Of the Inter
national Sugar Committee and later
served in the Ordnance Department of
the army il Washington and France,
was elected secretary to succeed Mr..
Freeman.
The income account shows that the
company had a surplus of $S.434 ,375,
which IS equal to $lI71 share on
Si5,000.000 common stock, compared
with $l1.25 in 1917 on surplus of
$S.2t2,1S7 The income account fol-
lows: