Salt Lake Herald | 1891-08-05 | Page 1 | A Bitter Fight over Sugar

A Bitter Flebt Over Scram I Ncw YORK Aug 4A bitter fight was begun to day by the Sugar trust against I Claus Spreckels who has been a thorn in the side sf the sugar refiners on this coast J j I for many years About ten days ago the president of the Sugar trust was called away from the city by the fatal illness I ness of his father F C Havemeyer I While he was away the Sugar trust I maintained the price for granulated sugar but Claus Spreckels announced a reduction of 10 cent per pound cutting seriously into the trade of tho Sugar trust Yesterday President Havemeyer returned and at once ordered the Sugar trust price reduced 116 cant below the cut made by SprccKels The latter today made another an-other cut bringing his price 110 cent below be-low the price asked by the trust The reductions re-ductions made bring tho price for granulated granu-lated sugar down to 4 cents per pound in Phiadelpbia on which 2 per cent is allowed al-lowed off making tho net cash price 1 12100 cents the lowest on record The price named by the trust is 4110 In August Aug-ust 1SS9 after tho formation of the trust lUSt sugar sold at S cents per pound A curious cur-ious feauture of the fight is that In the raw sugar market both parties are urgent buyers and tbe sugar trust today bought raw sugar at 510 cents This brings point the profit of refining dawn to a very low