San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-02-16
PLENTY Of
/. SUGAR FOR
! THE WORLD
1923 Supply Sufficient
Although Production
80 Curtailed.
STEADY AFTER FURRY
Conditions Indicate aSlight
Upward Trend in
Prices.
STEADY AFTER FURRY
BY j. c. ROYLE.


New York, Feb. 16.-There prob.
ably will be no world shortage oil
sugar this year, although the surplus
production will be small. That APP
usayed to be the widespread general
: opinion of those in closest touch with
the sugar industry throughout this
country and Cuba as the sugar situG-
ton stcadied down after a furry
which brought wide changes of price,
and manifold charges of speculation,
manipulation and spreading of propa-
ganda in its wake. Many refiners aud
operators retired from the market en-
tirely. for the time being.
Many we'll informed interests dc
clarcd today that there were irdlca-
tions that there had been secret Eu-
ropean buying of sugar to a greater
extent than had been previously
realized and that greater prosperity
in this country means an increase IN
per capita consumption.
Beet sugar men of Utah. Colorado
and Idaho Indignantly denied today
that there had been speculation
engineered by beet sugar interests
back of the sudden price fluctuations.
They labelled this charge. brought in
the east as propaganda by the
Cuban crowd" They pointed out.
however. that while Cuba had started
1922 with a carry-over of 100000
tons and raised over 100000 tons.
this had now all been absorbed and
that sugar production last year had
not been heavy. The size of the avail
able supply. however, they added. was
.,,Ff,.sn,,+ fnr Si1lINn
radical price squirt.
Western Refineries Withdraw.
On the Pacific coast the five larg-
est sugar refineries, the California,
Hawaiian. Western Sugar. Alameda.
Spreckles and Union have withdrawn
from the market pending return to
normal conditions from which they
term speculative market" All the
coast concerns stated that so far as
the west was concerned there was
nothing to be feared in the way of
sugar shortage. pointing out that
all the sugar from Hawaii and the
larger part of the Philippine crop
passes through their hands and is re-
infOrced by the California beet sugar
production.
Officials of the California Hawaiian
'sdT~ Western Sugar companies. larg-
est importers of cane sugar in the
west, declared that So per cent Of the
Hawaiian crop still was unmoved and
that present price increases were due
TO sspeculators running wild on OPP
tons" They asserted statements of
a world shortage were unvprified by
facts. Andrew Brown, head of the
California Hawaiian company said
thaE Hawaiian tonnage was more than
sufficient to supply the demands of
the west
Say Spectators Responsible.
Michigan beet sugar manufacturers
today flung back the charge that they
had any hand in causing speculative
fluctuations in price, responsibility for
which they assert, rests with "the
sugar futures spectators. +. r..
Hathaway. secretary of the Michigan
Sugar company. largest manufacturer
of beet sugar in that section, declared
today the Michigan companies had
done the only fair thing by their
customers in withdrawing from the
market. He explained that the price
of beet sugar was based on the price
1 of refined cane sugar at Philadel-
, PIMA anu tudl WIFI tuNltIl ItlllltIN
Y stopped quoting prices for immediate
delivery there was nothing for the
beet sugar makers but TO follow suit.
There was reason. Hathaway said.
to expect a slightly higher trend of
prices as compared with last year be-
! cause of the, deficiency from normal
/ in the Carry-over of the Cuban crop
/ and because of the recent sugar beet
crop in this country was but two
thirds as large as that of the previous
L season. He added. however. that
there was no occasion for sky rocket
\ ing prices. Jobbers in the Northwest
are being told that when their present
supply, runs out they will be taken
care OF by the beet sugar companies
on day to day basis.
Some Firms Holding.
Y Except for two or three of the
Pesgcr companies, the sugar crop in
Nthe Michigan-Ohio region has been
eprctty well sold, but the firms in
Aeasier financial situation have not
phurricd to dispose of, their holdings
rand have considerable sugar on hand
r The crop of the cane producers in
pthe South already has been sold at
i,prices which. while not high. yielded
IA good profit to growers.
" Living Costs Higher.