Show flEE FAMINE BUT FIND JOBS GONE Coolies Who Went to Cuba Hit Hi by S Sugar gar Panic W WASHINGTON Dec 11 To 11 To flee from famine In China only to find tind themselves jobless a few tew weeks later In Jn th throes of ot a panic in Cuba has been tho the plight o of thousands of coolies the last few we weeks ks The Tle Chinese famine caused by a bad crop and floods floods- threatens to wipe out souls in Honan and Shantung provinces So the coolies were glad to sail for Cuba to work inthe in Ip the tho cane fields The misfortune that overtook the fleeing coolies was caused by the drop in sugar prices BREAK IN SUGAR The price of sugar t. t fob o. o b. b New York lork I has gone as low as 6 cents a pound It reached its maximum price in May 23 cents a a. pound Cubans made millions out of sugar while prices were high but spent it for luxuries and enlarging their sugar plantations They expected prices to stay up The Banco at Havana and some seventy of its ts branch banks loan loaned d heavily on sugar stocks Plantation Plan Plan- tation owners expected to finance Plan Plan-j their crop on borrowed money Two months I Iago ago o a check for was presented present present- ed at the Banco and it couldn't pay it This caused a run on the bank and President Menocal de declared declared de- de dared a Q moratorium until December l I making it so depositors could draw but 10 per cent of their deposits FAIL TO GET LOAN Meantime the Cu Cuban an government tri tried d to make malte a loan from American bankers but failed and the moratorium moratorium moratorium morato morato- had pad to be extended to January 1 1 As a result plantation owners owners' who had I contracts with the coolies have no j money to pay them |