The evening world. [volume] (New York, N.Y.) 1887-1931, 1920-05-20
SUGAR COST CAN'T
GO MUCH HIGHER,
DECLARES BROKER
Says Product Is Reaching
Price That viii Restrict
Consumption.

Lewis w. Minford, sugar broker Of
No. 1Os Wall Street told the Lusk
Joint Legislative Committee to-day
that refiners are responsible for the
different prices .of sugar which have
prevailed since Jan.1.
I'VE have had an advancing mar
liet since Feb 25 OF 12 cents per pound
for raw sugars, during which time our
refiners have bought these raws. We
presume that the prices at which they
allot the sugar to the trade are based
on the prices Of the raws plus what
is considered a reasonable profit. As
refiners have paid different prices at
different times, therefore the price oi
the refined has varied and the whole
sale grocer has based his sales on the
prices at which the sugars allotted tC
him by the refiners. and the retailer
on the prices which he had to pay tt
the wholesaler, which has made Tho
diversities in prices Of refined sug.
ars."
Asked il he could sugg est u rent
edy that would insure a reasonable
price OF sugar to the retailer, Mr.
Minford said:
II do not see how you car get
under the present ruling OF the De
partment Of Justice. any stability il
prices until the raw sugar marka
becomes stable. Refiners are corr
PEELED to sell their sugar at reason
able price above cost.
81 do not think there is any rem
edy. II win have to correct itsel
through the operation OF the law y
supply and demand.
'.Do you believe that the law q
supply and demand IL going to ru,
the price of sugar higher than it /
nowT he was asked.
Il do not think 1t will go muc
higher" replied Mr.. Minford. "Tha
, is my opinion, because / believe W
are reaching prices that viii restric
consumption"
Alfred Horn Of Kramer Horn & Co
said he had food brokers licens'
but no sugar license. He could nC
remember how much sugar he ha
sold and said he did not keep book
He had bought some sugar, !
couldn't remember whether it WI
10000, 10000 or 10000 pounds "arodr
"a 1-2 cents and had sold 1t for "a 3
:, or % cents.
=, Horn declined TO answer many que
, tionS or to name his clients on II
ground he might ineriminRte himscl
He hadQ vague memories of 700
2 pounds OF sugar which he bought f.
p Al9 l-2 cents and sold for 20 cents,
a Claiming to represent eighty-fiN
Z per cent. OF Americas manufacture
: of jams, jellies and preserves, II
National PreserVers and Fruit Proc
= ucts Association announced to day
a New York that its members will sta
= out of the sugar market until II
price OF sugar comes down from 1
present high level.
'The $50 called shortage OF sug
|, does not exist" read statement
Marcus BlakemOre, president of Il
. National PreserveIs and Fruit Produ
y Association, who has investigat,
n available supplies with the help
the Department OF Justice and repr
sentativeB Of the refining industT
= Present prices represent pure inf
ton" caused through =, boarding
sugar SPECTATORS"
In lnf aai 10 q,
that has already been received
e this country and the amounts Co
8 tracted for and available on &
q Cuban market, an excess of mo
e than 500,0 900 tons over last years tot
q consumption is in sight.
y 1t IL the hope OF the associate
i Mr.. BlRkemore said. to start a n
q, tion- wido movement among manufa
Is turers and housewives to save sugl
y Another series OF conferences
n tween sugar dealers and the DepaI
ment of Justice will begin in Was
TO ington to-day.
cs Assistant United States Distr
y Attorney Mdttuck announced tod
Is that he win ask the Federal Ora
la Jury to indict New Yorker, who
no name is withheld for the present,
at setting himself up as a sugar broh
al without first taking out the licer
a. called for by the Lever Act. T
l. broker is said to have sold" 2O0,C
pounds of sugar. Attention was
II rected to him by complaints that
at had failed 10 make deliveries on CO
es tract. Special Agent Riley, of I
Id Department OF Justice, Mr.. Mattu
be said, claims that the activities of L
in licensed spectators are largely
Its sponsible for the profteering
to sugar.