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Show DROP IN SUGAR j EXPECTED HERE Prices May Lower Following Break in Raw Sugar Market Trices of refined sugar in the ln-tcrmonntain ln-tcrmonntain country are expected to-decline to-decline following the break in th' raw sugar market In New York yesterday, according to one of the best Informed men in sugar circles In Ftah. Haw 9U- R.n prb es dropped '" 1 1 centa -i pound for prompt delivery and 13 cents for future delivery In New York yesterday. Allowing for the difference between raw and refined prices of from 3 to 1 1 cents this would bring 17 to IS cents as the price for the refined product within the next fortnight. It ts understood that eastern banks are In many circumstances compelling the conversion of sugar into money and thot eastern brokers who pun based bas-ed for August delivery at the peak t prices are suffering no inconsiderable! losses. "Facts About Sugar." a na- tlonal publication, says of the situa-i tlop: "The first evidence of the curtailing I of consumption by the public as a result re-sult of high prices was noticeable in June, when there was s general cessation ces-sation of the call for sugar, which still continues. The refusal of ihe public to buy Its normal supplv at the prices, offered was reflected back through the retailer, with the result of forcing, wholesalers to dispose f stock.--' It was estimated yesterday 1y a su- , gar authority that there remain in this country but" "50.00" bags of beet su-j gin. The Cub. in sugar shows holdings of 3S1.R08 ton, as compared With 1.-024.129 1.-024.129 at the corresponding lime last, year. The liquidation of raws, which I Is foreinc price down in the east will, i it is believed, be followed by the San , Francisco refiners whose price Is fol-j low.d In the Intermountaln territory! licet sugar from the 1910 California crop has made its appearance on thei California market at $19. 8& per hun- drcd pound bag, or I ." cents a bag. less than the present base for cane 1 sugar. The high this year for cane was $2i.45 per hundred pounds and, for beet J.'J.To. seaboard bare. |