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Show Sugar Takes New Drop of 25 Cents on Eetail Market 'NEW TOR1C Aug. IRenat-ttng tho aheence of any large dmani for refined ausar, the leading r fining fin-ing companies erowdd the local market with plc cut today. Th first cut brought th price ' down II point to l.lg cent a found and, thia waa followed immedlat ly I by a further 1 point drop to ft: cent. I Later !n the forenoon t"hej Federal ' Sugar Refining tonipany iitarkM I quotatlona down Ift points on tha day to 1.99 trent a pound. The prtc aluhlng Urouirht new : Iowa into augar ahires on the stork exchange and th raw sugars market opened lower. The price cutting 1 duo, according accord-ing to trade circles, to th offerings of out alder a, auuh aa Jg.'aa anU r-ruvtan. r-ruvtan. j Tn contradiction to tho old adage that augar prlcea usually rise during dur-ing th fruit oeaoon, ta tho statement state-ment Issued today by the Utah-Idaho Utah-Idaho fctuaar company announcing the second sweeping sugar price reduction re-duction to the local obbera thia week. The jobber cost of auajar In Kelt Lak dropped from I 1 1 per hundrel pounds to IS M, which wilt likely bring about a corresponding reduction by the local retailer. fcfftprtue today, . cane sugar dropped from tleO, Ran Pronciaco baae, to tt.Zfr, Ban Franrlnco baa. Beet auaar dropped from 9 8. to, Ban Kranciaco. to ftS Oi. The reduction today la tho second art thin three daya. and makes a total to-tal reduction of augar price during the week of 7ft rente. Since June 1 sugar price to the local Jobbera ha been dropped IMft. It we announced an-nounced at the Vlgb-Idaho auga;. company. |