The Ordway new era., 1922-03-24
Market
Activity Shown

''Ni'i O, JGs.
Tho activity and strength of the
sugar market during the past ten
weeks has surprised not only the
numerous body of pessimists who
mad predicted a period of stagnation
and ruinously low prices during the
current year, but also those who were
most optimistic regarding the possi-
bility of broad and vigorous volume
OF trade once the market was left to
be governed only by the free inter
play OF supply and demand
Tho month of January, usually a
comparatively duh season in the sug-
ar trade, was marked by the heaviest
importations. MEETINGS and distribu-
lion ever recorded for this period of
the year February and the first half
of March have witnessed an acceler-
alton rather than diminution in this
movement.
Every department of the industry
has shared in this activity Rec
orded sales in tho raw market have
amounted to over million tons, or
at the rate of over five million a year,
and undoubtedly many transactions
have not been reported. The move
ment of raw supplies from Cuba has
proceeded at remarkable pace and
with the greatest smoothness. Load
ing and shipping a million and half
bags of sugar in single week is
task of no small proportions. but it
has been performed by the fleet serv-
ing the sugar trade between Cuba
and the United States without n hitch
Much OF the activity OF the market
has been due to the export demand
for both raw and refined, which has
come not only from Europe, but also
from China and Japan. South America
and other distant markets. Apprc-
henGion was expressed by some mark
ct observers month or more ago
that the advance in quotations for ex-
port refined might cut off the demand
from this trade, but the exact cons
trary has been the case. AT the pres
ent time it is impossible to place ex-
port business for delivery before late
April and the Sugar Export Corpora
ton, which was considered to have
shOuldered a difficult task in attemp-
ting to dispose of 500 900 tons abroad
is sold up until May and apparently
will complete the handling of its al
lotment by the end of that month, in
stead of at the end of August as has
been anticipated by its promoters.
In the domestic field, lefners have
been moro or less chronically over
sold the greater part of the time
since the beginning of the year and
have enjoyed the unusual experience
Of being able to operate continuous
ly at capacity. AT the same time
there has been no indication that dis
tributors have been seeking to ac-
quirements. Jobbers in general ap-
pear to have made their purchases
only for the thirty-dayforward per-
iod which is normal in their trade.
Wholesalers and retailars. who have
been ordering only to suit the de-
mands upon them, reported steady
g.t 10 70 llr.l w n a
buying on the ordinary basis of daily
or weekly needs. Increased con-
sumption, both at home and abroad,
as a logical sequence to low prices
and tho general Improvement in in
dustriaI conditions. appears to be the
explanation OF the exceptionally
heavy movement.
Naturally the whole industry is re-
spending to this vigorous activity.
Producers who are trying to get
through tho present campaign with
inadequate equipment and make-
shift repairs already are planning the
installation of new machinery at the
end of the grinding season. Seldom,
If ever, before has so much interest
been shown in the study of plans for
promoting efficiency. eliminating
wastes and utilizing by-products to
better advantage. Cutting down pro-
duction costs by better methods in
field and mill is the subject of keen
discussion everywhere. All of which
is the best possible harbinger for the
continued steady progress of the in
dustry on a sound and substantial