The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1920-08-20
SLASH IN SUGAR PRICES
PRICE COST is CUT CONSlD-
ERABLE TO CONSUMER
Heavy Recent Importations the
Cause, So One kato Merchant
Held Today

One of the dealers in Mankato to-
day said that the price of sugar has
commenced to tabbogan, and he pre-
diets that sugar prices will be even
lower in a short time, owing to the
fact that large quantities Of the pro-
duct are being imported IN from the
Max Mark of the Army and Navy
store said today:
II just got In ton OF sugar to- day
which I am selling at nineteen cents
per pound. This break in prices>I at
tribute to the recent heavy importa-
tions of sugar from abroad. / think
what Is true of sugar is also true OF
many of the other products, which
have reached the apex, and soon must
come down, as production increases.
From all indications sugar Is apt to
be still lower" Last week sugar was
selling in Mankato all the way from
81 cents to % cents and some sold at
26 per pound.
Plenty of Sugar.
E. A. Engwalson, one OF the North
Front street grocers when seen by
The Free Press in regard to the
sugar situation, said that al of the
jobbers at the present time have plen-
ty Of sugar. Sugar is now selling at
more than seven dollars a hundred
less than 1t did three weeks ago, and
has dropped from top price of $40
per hundred to the present retail
price of twenty three cents per
pound Mr.. Engwalson attributes the
sudden drop in sugar to a curtailment
of consumption of sugar, and the
fact that large quantities of that pro-
duct are being sent in from other
countries He predicted that there
would be a still greater drop In prices.
Phil Roesch another North Front
street merchant also predicted big
drop in sugar prices on the local mar
ket.
Discussing Sugar in the East:
Discussing the sugar situation, The
New York Times said few days ago:
Sugar, which has recently gone as
high as 80 cents a pound retail and
often difficult to get at that price,
will probably be selling around IL to
20 cents pound within another
month, it was predicted last night by
an authority on the sugar situation.
The retail price at present, he SAID,
is from 20 to 25 cents pound.
For the last two or three weeks
there has been a gradual decline IN
sugar prices, due to the increased
and the resultant decrease In
demand, prices began to fall and are
still on the decline.
Prices will not decline as much
as s to 10 cents pound within the
next two weeks, as predicted by some
Wholesalers yesterday, in the opinion
of the man quoted above. He said
that such a decline in that period
would mean the financial collapse of
thousands of concerns throughout the
country. Raw sugar delivered in New
York is being quoted now at around
IA cents, but very little is available
at that price, 1t was said. New beet
sugar from the Pacific coast will
soon be available and 1t Is generally
believed that sugar will be plentiful
this winter at reasonable prices.
Sugar Brokers Punched.
St. Paul, August 17.-At least ore
firm Of the Twin Cities faces finaf-
oial difficulties. Northwest sugar
brokers in common with those
throughout the county stand to lose
thousands of dollars, and consumers
will have he privilege. of buying
large quantities Of sugar at less than
present refinery prices as the result
OF widespread withdrawal of bank
credit to food spectators, st. Paul
dealers admitted last night.
After buying large stocks Of sugar
TO be nelo IN the belief that sugar
prices would continue on the up
grade, a lalge Minneapolis f1rTr finds
Itself with the huge supply on hand
and tte price dropping, 1t was asser-
ted. The company IS finding Il I'm
possible to obtain banks loans until
1t has lxiuced its stock of sugar and
other fo0Gstuffs which it can 10 in
the case of sugar only at a loss, it
vas said.