Salt Lake Tribune | 1911-09-10 | Page 24 | Young Lad Who Met Death in Accident

Young Lad Who Met Death in Accident digits Glen Price. ciifiii SUGAR EXPLAINED Shortage of Last Years Supply and Feverish Speculation Produce Advance. That tii'"1 prevailing nv. price of ?ugar is principally 'l'.1 lo the shortage of hit year's supply, the greater, ebort-;ie ebort-;ie through droughtj iu the present rear 'a crop in Europe and the tact thai speculators, principally in London have tiikcn advantage of the shortages .to play the suir market, forms thu cjt of opinions expressed yesterday by Bd win P, At kit!-, vice president and not-i not-i i: tr prt'-idcnl of llu- A i no lie an Sugar Refining company, who 1ms 1 u visi;- ing in Sail Lake on both business and pleasure, and by Joseph Geoghegan, broker for flic Amalgamated, Lowiston and Utah-Idaho Sugar companies. BCr. Atkina's visit to this city, accord -.ng to hi-; own declaration, is primarily for t'ne purpose of securing a more in timate Knowledge r local conditions affecting and concerned with tho beet sugar industry of the world, lfn dis-cussed dis-cussed the present condition of the BUgU market and interests at length, S81 ing in part : 'l 'Last year there was n shortage in the normal output of sugar of about 400,000 tons. Added to this is the serious seri-ous shortage in this year's European crop. Europe is expected to produce annually between 7,000,000 and 8,000, . 000 tons of beet sugar, with Germany leading. Severe droughts throughout Germany and Austria will cause a shortage this oar of something like 1.500,000 tons. " This condition has had its affect on the n-.arket through the speculative center of London. "While speculators in London have seized upon these ghortaires to over-play ibe market in speculation, and while ou these and other accounts, sugar will undoubtedly remain hieh in price for i time, yet the present high prices I behove are only temporary and will do. cUne gradually during the next few months. "Although there seems to be a discrepancy dis-crepancy in tbo difference between the prices of beet and cane sugars, that is duo more to the producers themselves The hoot sugar men are not given to speculation and are selling their products prod-ucts on the open market without hold ing them for speculative purposes. That is why beet, sugar is apparently lower in prion than cane. I look upon these extreme prices as onlv temporary. It is simply the question of supply and demand, to which, however is added 1 be speculative feature." Mr Atkins expressed astonishment at the evidences of growth on every sido throughout the city. It was his first visit hero in live years. As guest of General Manager Thomas R, Cutler Cut-ler of the Utah-Idaho Sugar company. Mr. Atkins and his partv spent most of the day in seeing the city. Ho attended attend-ed tho organ recital in the tabernacle, called on President Joseph F. Smith of tho Mormon church, and mado a special spe-cial run to Saltair. lie resinned his trip eastward last night. "The sucar market of the world is xiited," said Joseph Geoghegan in speaking along similar lines yesterday. ''Prices will continue high until the t'uban, Hawaiian and Porto Kican sugars su-gars and also the products of tho Continental Con-tinental United States begin to come in for tho present year."