The Republican journal., 1920-01-08
SUGAR.

The United States Sugar Equalization
Board Qnc), of which we have heard so
much, is a corporation organized under
the general laws of the State of Della
ware Its charter went into effect July
is, 1918, and is to cease July IA, 1923, I'M
less sooner dissolved. Its objects and
purposes as stated in the charter are:
s'To do any and all of the things set forth
to the same extent as natural persons
might or could do, viz: To purchase or
otherwise acquire. manufacture or other
wise deal in and with raw and refined
beet and cane sugar, sirups, molasses and
other commodities, and to do all acts and
things expedient or incidental to the
eff cient conduct of said business within
or without the State of Delaware. To
exercise all powers delegated to it by the
President of the United States" The
capital stock of the corporation is $5,000,-
900, all CT which was supplied by Presi-
dent Wilson from the $500, 000,0 900 which
was assigned him by Congress as an en-
Urgency war fund. Mr.. Wilson was the
only stockholder in the corporation and
he controlled the action of and directed
the seven directors whom he elected. If
the directors did not dance when he piped
he could send them home and elect d.
rectorate which would do so. In July
1918, about 1900. 600 tons of Cuban raw
IL
and one-half cents a pound. Some of
this sugar was brought to this country,
ref ned and doled cut for | 1 cents pound.
More of it went to other countries at a
higher price. During the first year of its
bust ness life the Equalization Board was
a success as a money maker, having
made a profit of more than $4,000, 900,
and strange as it may appear this money
was turned into the United States Treas
ury. Although in the first year of it's eX
lstence the corporation was financial
sue cess, it failed to equalize the distribu-
ton of sugar to the satisfaction of our
people, it limited, but did not prevent
profteering, On the whole it made a
creditable record as compared with the
records made by other boards, bureaus
and commissions. Since about midsum-
mer of 1919 the corporation has been in
that peculiar comatose condition which
has been appropriately called "watchfu
waiting"
July 90, 1919, the Cuban commission
ers rendered the Cuban sugar crop o
1920 to the Sugar Equalization Board
Sixteen days thereafter, August IA, Mr.
ZabTiskie, the president of this corpora
ton, awoke long enough to transmit tina
fact by letter to President Wilson Wht
was, as we have shown, the corporation
its elf, asking if the Cuban sugar shoulC
be bought. There was no response anc
Sept. Goth Mr.. Zabriskie again wrote tht
President for instructions, and five o
the other six directors Joined him in urg
ing tnat permission be given for the pur
chase of the Cuban sugar. Whethe
there was any reply to this communica
ton we do not know but the Cubar
sugar, some 1900, 600 tons was not bought
The price when it was offered, last July
was six and one-half cents a pound
December first the price was eight ane
one-half cents and a recent quotation
was a further rise of two cents a POI nd
Nobody knows how much higher the
prices will soar, but consumers may as
well make up their minds that during
1920 they will be compelled to pay al
least twice as much for sugar as they
would have been if watchful waiting had
given the right of way to alert business
common sense.