Evening star., 1923-11-29
WILD PRICE RISES
IN SUGAR UNLIKELY
Next World Crop to Be Larg-
est in History-Keen Com
petition Develops in Market.
BY J. &. R0iLE.
pecial pispatch to The star.

BY ,. &. RoYLE.
Special Dispatch to The star.
NEW YORK. November 29.-Indica-
tons point TO the probability that the
1923-24 world sugar crop will be tho
largest in history. Estimates by care
ful statisticianS place the yield FOR
the coming season 1T l9,llJ.5oo tons.
An increase of l.I97.972 tons. or ca
per cent over this years crop.
This, however. is bringing little
consolation to eastern sugar refners
at present The carry from the
Cuban crop. their main source OF sup
ply, has practically been exhausted
Their stocks OF raw sugars are low,
and they have been compelled TO buy
Louisiana cane raws aS high as I.o3
cents a pound. an ADVANCE from /
cents this week. one eastern renn-
cry has shipped a hoatload cf 10000
bags of LouiSiaan sugar to Its BoS-
ION refinery, owing To the shortage of
supplies in the east, and is expected
to make similar shipments n the near
future.
Competition Is sharp.
In consequence of these factors. the
eastern rctiners have been compelled
TO hold their refined sugar at 80
cents 4 pound while beet sugar manu-
facturers. invading the hitherto eX-
elusive territory of their rivals for
The first time have been able TO sell
their products from $40 to SO cents
a Aound seaboard basis.
There is every indication that the
price of refined sugar to the con
sumers of this country would have
gone far higher than the present
. figure had the market not been
stabilized by the heavy beet sugar
production. This output. il is be
licvcd in the trade. viii tide over the
f pcriod until the new crop cuban raw
sugars begin to come on the market.
The Cuban mills. or centrals. as they
are called. will begin to grind cane
about December - and supply OF
Cuban raws Will he available at or
before the first of the year.
Beet sugar to Rescue.
Retiners at first were inclined to re-
sent the invasion of their Territory
here in the east by the producers of
American beet sugar. but the more con-
SerNatiVe among them are rather thank
full now that beet sugar has come TO
the rescue of the eastern market just
in time to prevent SkyrOcktting of
sugar prices at the hands of the dealers.
They say that housewives can thank
the big beet sugar production in this
country that prices at this time are not
far in advance of those last spring.
Visible supplies of sugar virtually will
be wiped out by the first of January.
The beet sugar production this year for
tunately was 300.0o0000 pounds in eX-
cess of that in 1922. But for this
larger domestic production the market
would be in a runaway condition today.
Big Price Rises Unlikely.
The probability of sharply rising
prices after January !, even when the
1928 supply Of beet sugar is exhaust
ed. is not great. as the bulk of the
that date to April l, and under nor
NAL conditions prices fer raws are
at their low levels III that period.
Traders in SUGAR IN this this market
that the situation Of the eastern re-
timers has resulted from their mis-
judgment of conditions throughout
the year. They declare that the
meters underestimated the Cuban
crop last spring and that as a re-
suit they bought high priced raw
sugars freely. Later. the dealers as
srrt. the retiners overestimated the
demand, which. while showing an in
crease above some previous years,
did not attain the volume which the
consumption in 1922 gave reason to
expect
Finally the men outside the refin-
ing end declare. the manufacturers OF
granulated sugars put off too long
in the year which the augmented de-
mand for candies and for household
use demanded.
Snow Covers Rect Fields.
The second snow of the winter
struck the eastern Colorado beet
fields this week. but found the in
duStry in such condition that ii will
lie practically unaffected. Recent
favorable weather has permitted
rapid harvesting of beets. and it is
estimated that all but about 200 acres
in this section have been dug. Prices
in the middle west for beet sugar
have been well maintained at $40
cents pound. Several of the Colo
ralc. rado factories sGt have finished their sea-
The aggressiveness of the beet
sugar manufacturers in invading
eastern territory, the yield to grow
erS of beets, who are paid on a basis
Of the price the refined product
brings. and the success of grow
ers in comparatively new districts
y arc counted on to result in a largely
increased acreage of sugar beets in
1924.
New Crop 3.7OO.O0O Tons.
The size OF the new Cuban crop
is estimated at approximately g.
100000 tons, which compare with
$56o2,9lo tons for the last crop.
Practically all the other producing
countries, except Java, are expected
to turn out a larger amount than
in the 1922-1923 year. The European
yield is forecast as sol, 1873 tons
above last years.
Beet sugar manufacturers are
taking active STEPS to Counteract
proposed freight rate reductions on
sugar bound westward from Atlantic
coast points to the Mississippi river
unless similar reductions take eff
feet on beet sugar shipments bound
eastward