The Julesburg grit-advocate., 1920-12-16
CONSTRUCTION WORK STOPPED

1t is great regret tina, conditions the
sugar industry ard prospective conditions far they be
compel this alter for the time being Its
program of construction.
In following long established policy of adding to our
manufacturing capacity rapidly agricultural development
in the territories decided several months ago. to
factories Johntown COLORADO te oei
Mnaare Nebraska Since that time most violent ana u
expected change in the whole situation and has
been discontinue construction work on both OF
new factories indefinite period This decision has been
only after the most careful and thorough
consideration We feel to be imperative nov"
ever standard of prudence and sound judgment
The price at which both beet and cane sugar sells on the
American market largely determined by the sehne pf'ce Oh
Cuban raw constitutes about onehaH OF the ota
supp Within past few months raw cane sugar
prices have declined rapidly to the present basis OF ABOUT
cents pound landed York Refined cane sugar no"
;ro offered at from 1926 $3.50 hundred POUNDS at
sugar was made from purchased at considerably
above present prices and the h'ghereo VI
fined have been disposed Of there reason TO expect
ductons in refined prices
Tho unusual depression in sugar prices has been brought
about BY clearly recognized factors ABOUT
fo.r of prospective shortage of for the Oneo '
American reners and dealers to look to new
supply for the domestic market Not only were neavy r
of raw sugar made from Cuba but over nai "i w H.:
ho,,h+ from foreign countries recol "
v never before equaed This anxiety on the part ol
BUYERS to procure supplies from abroad naturally eu
sharp advance prices eliminating early III inc ~ Nov
1ovolO n
York
Tho high prces together with somewhat dsoreanzeu ~
.;on resulted in substantial reduction OF demand Dus
~ became apparent that the supply OF sugar avaaoe
for the American market was considerably excess ~
would be needed prior to the marketing OF ehe i'@ p ~
~ in the autumn of the Cuban crop which VIII COM
vance to arrive the part of December long series
declines since that brought sugars to tne present
i.vos The strained credit situation, whcn Is too@S
.most all lines of industry has naturally gwen impetus " VIC
reduction in values
Ever at current prices sugar moving very slowly up 10
III. nresen me this company has sold only little over
haos although first of October we esmateo ouf ~
IN middle of December about bags Inc payment
40 millions of dollars growers for bees delivered TINS year HAS
inst been completed and to finance our operations his
have been conpe far greater sum OF money @ "
hoer rate of before Ihis neaVy
coped with the difficulty Of disposng Of the retneo
te urgently necessary the investment OF capital IN hoh
suction and Mnatare based upon this
necessity.
Probably people very critical situation in which
beet sugar find themselves today This season
produced from bee paid for at the hgest
featuring highest point which they have reached
We with the Of having to sell
output much lower than expected with the whole
of the country in strained condition
be evident that the weatherng of such
critical situation places strain companies
which soundy financed and we'll organized.
THE GREAT WESTERN SUGAR COMPANY
Denver Colorado, December IA, 1920
1--WE WIRE NEWC Dresse spent the week end at the