The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1923-04-19
Uncle Sam
Speeds Up
garQuiz.
Harding Orders Department of
tention TO Averting Threat
tenlion to Ayering Threat.
ened Jump in Prices.
Shortage III Cuba, Report

Washington. April 1s.-President
Harding today ordered the Depart
nent of Justice to stop every other
activity and devote its whole attention
TO avert a threatened sensational riss
In the price Of sugar.
This action followe- da conference
with Acting Attorney General Sey-
mour, who brought to the president
evidences Of manipulation. and with
Senator Wadsworth. who told thu
president that an actual shortage ex-
ists
These reports We're contrasted with
the statement Of Secretary OF Com
merce Hoover and Secretary OF Agif-
culture Wallace. that instead Of a
shortage. this years sugar supply
viii exceed that Of last year.
Confidential reports reaching the
administration are 10 the effect that
The spectators have carefully laid
plans 70 run the price as high as Is
cents a pound.
Market Continues to Rise.
Their contention. it is said. is that
in spite OF all .bearish'' tendencies
and reports Of governmental investi-
CATION. the market has remained firm
and continue e rise. 50 far the big
men IN the market have remained out,
or declined to buy. waiting for the
psychological moment TO step in and
with their purchases send the market
higher still
n FfFa - @nH
10 the president that already s25.00e.-
600 has beeen mulcted from the public
and that il the spectators seized
upon the right time when stocks are
temporarily Low. they viii be enabled
% initiate their price and send the
market skyward.
Senator Nadsworth. when he called
upon the president attempted to JUS
iify the already high prices OF sugar.
He had just returned from a visit to
Cuba
Says Cuban Crop Short.
He told The president that the prices
50 far are justified by the shortage in
the Cuban crop. He declared that IL
viii be 1000 ooo tons or approximately
% per cent less than the crop OF last
year. The price OF raw sugar. he saie.
mad Kept pace with this shortage.
jumping from ; cents a pound three
months ago 10 81 cents now.
I am convinced that the rise in the
price u sugar IS due entirely to the
shortage obtaining at this time. rather
than to manipulation" said Senator
W2dswor;h. Just al this time the
crop 81 Cuban sugar is moving into
the United States one month ahead
q time 10 meet the demand. Person
ally. do NOT see how the price could
he inflated
Charges Market Juggled.
Bash Manly. director of the Peo-
pies legislative service. responsible
for the expose Of the sugar situation
when Secretary of Commerce Herbert
Hoover first reported an alleged short
are. declared emphatically that both
futures and the spot market are being
Jusgied. lie SAID.
As fof any shortage IN the Cuban
supply ! would ike % know where
senator Nadsworth gets his figures.
My positive and indisputabls in
Information from Cuba : that instead
Of shipping sugar into the United
states they are holding it up in the
hope that they can get an excessive
price for il
Attorney General Harry II. Daugh-
/ erty. now n AShvlle y =. COM
municated with the Dedap,ment %
Justice today and instructed his rep
resentatiye. Seymour. 20 make a
vigorous prosecution should il he jus
tihed. il Vas announced