Salt Lake Telegram | 1921-01-16 | Page 42 | Sugar Profits at High Scale Went Abroad

Sugar Profits At High Scale . Went Abroad The pant year ha witnessed niart-i niart-i linn and violent fluctua tit ma in the j sugar prices. A few months ago when j the wholesale price uf sugar was over ihouhMtids or tons or Toretirn aur Wfie sent to the I'nlted State by every ev-ery country having any excesfl. With' the rnten of exchange between those , countries and thH V lifted States out of ttll iroportum -w itil the Cnitfli 1 States dollar e(ual to front twice to a' hundred lime the alue of the for- I emu money -one can readily figure I that iniUien.Htii fn ins w ere realized by j foreigner on siuar o(i m this conn- , try. 1'evt Kiixur producera and otlw-r domestic piodittetit bad lutthum whatever what-ever to do with the. i-Mahlitthmeiit of hiKh pruea for thejr commodity, and sold proportionately a ery small part of theur augars at the hih prices, the profita from which have gone mainly Into the bands of foreign producers, as stated. With such large and unusual importations impor-tations of foreign sugars it is but a natural rotmeiienc that prices should drop with a letup In the demand. Still the rapidity and suddenueM of tiie decline de-cline was such lb at even the experts were misled. j:erhody knew that drop fiont the high auvar prices nan hound to come, eventuallv, but that it nnselfi-di patituliKm of the beet sugar producers of the West that enabled the government to fix the pric at 17.30 ptr hundred wholesale for this country while the price in foreign lands was twice to three itmes that figure. The eta ml of thf beet augar inanu-factuiers inanu-factuiers not only eafefmarded us on price hut if it were not for their pro" ductum f over a toll ion a nd n half I pounds of h et sugar, there would not ;hae been the large amount of eighty-l eighty-l four pounds per capita to consume last I year. The American people owe it to 1 the beet sugar producera of the I'lilti'd j States that this domestic industry aup-poi aup-poi ted by American capital and - America Amer-ica 11 labor, be fostered audtf-nconi aged and that the goternment should adopt measuies tending to this etui. The people of I'tah and Idaho are particularly interested In the growth and success ,nf this prosperity-producing; home industry as 11 im-itns millions 1 of dollars to the farmers and great fi-1 fi-1 tanclal he tie (it to the community at , lare. I should occur within a apace of four I months instead of ns many years is at j condition unforeseen by even the w is-f is-f est heads. The drop In sugar prices, hugo and sudden as It "f as, brought financial ruin to many dealers. Such j iolent changes are another vindication I of the age-old law of supply ami demand. de-mand. The decline in priev commencing commenc-ing gradually in the early summer continued con-tinued until it became an almost demoralizing de-moralizing drop. hiring May. 19 JO. raw sugar Hold above 24 cents per pound sea hoard base and the granulated granulat-ed product brmmht as Ihgh as :t." cents ; reiall in many Kastern cities. Keceut-1 Keceut-1 ly raw sugar hai been purchased hi low us 4 -4 cents per pound, plus duly iml freight, and refined is at thn pres-i t.t tune lieltuig thu coiKsum- r only tl4 to a' cents per pound iu New York and New Orleans. i few persona realized to what an I extent the beet sugar Industry of the I West Kiwd our country from a u?ar famine during the war. It was the I