OCR Text |
Show I CRISIS IN SUGAR INDUSTRY. The past season was one of-remarkable production of sugar IJ: throughout the world and the forecast for this campaign are for an- I jj other record-breaking crop. I,f .Hayden, Stone & Co., brokers, in their weekly letter sent out Ih from New York, state that there promises to be an abundance of H jugar such as the world has never before witnessed, II While any figures that may be given at the present time will have to be approximate, as there remains a majority of the cane still I In the fields, the indications point to a crop of 7,000,000 tons of beet H sugar and 8,519,000 tons of cane BUgar, a'total world's crop of practic-i practic-i illy 16,419,000 tons. I Figuring a daily consumption of about 42,000 tons, there bids II fair to be a surplus of about 2,500,000 tons left on Sept. 1, 1911, at the IJ beginning of next season's sugar trade. As all the important produc H ing countries, with the exception of France, are anticipating an in-D in-D creased output, the figures given above may even be exceeded. V With such an unprecedented surplus, the price of sugar may I, bo expected to drop to the lowest figures in years, and perhaps make H a new low record. H At present there is a crisis in the sugar industry in this country. With the government fighting the Sugar Trust, which has been the great sustaining power in the sugar trade, preventing destructive or radical fluctuations in the market price, and with foreign countries ' increasing. .their production of sugar to uneqnaled proportions, the outlook is -quo of great uncertainty for the industry of sugar making. |