OCR Text |
Show WAR RE8PONSIBLt k FOR RISE IN 8UQAR New York, Aug. 26.-Serlous loss In tho European crop of sugar, directly direct-ly duo to the war Is responsible , for tho rise in sugar In this country, according ac-cording to tho American Sugar Bo fining Comapny, which today Issued a statement telling why it had ad-vnnce'd ad-vnnce'd tho price of sugar here. Tho American company according to tho statement, sells leBS than 40 per cent of tho roflned sugar used In tho United Slates. The company says lit doos not own an aero of uf!'r I land or produco a pound of raw sugar, I but is entirely- dependent, upon tho ' growers of cano sugar In ,Poto Bto Cuba, Hawaii, tho Plilllu.P.lnQS, Java and other countries.-- H'Q European countries, including those now nt war, tho statement continues, produced pro-duced last year moro than 3,000,0000 tons, or about 45 per cent .gt tho world's supply. .A tremendous loss to the European, crop has been caused by the war, tho statement nBscrts, resulting In radical advances In tho prlco of sugar su-gar in Europe and an unprecedented demand for raw sugar at its source) 6t production. This has resulted In Increased prices of rnw sugar, which tho company has boen compelled to pay, tlio statement says, aid to meet this advanco.lu prlco of raw cugar the compauy has been competed to advance the price of refined sugar. |