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Agents for " Kinsrliorii " Multiplex Valve 



HONGKONG SUGAR MARKET 

 The price i>t' sugar of various grades 

 has advanced considerably in the Hong- 

 kong market as a result of speculation 

 following the discovery on the part of 

 Chinese dealers that the market was short 

 of supplies. As previously reported the 

 great Hongkong refineries bought consider- 

 able quantities of sugar at comparatively 

 low prices, while the sharp demand for 

 sugar from Europe and other fields usually 

 reached by the Hongkong refineries led to 

 the stocks in Hongkong being unduly de- 

 pleted. At the same time the Chinese im- 

 porters, in view of the high prices, refused 

 to buy for the future, counting upon low- 

 er prices later. It has been realized, how- 

 ever, that prices are not going to be lower 

 for some time to come The result has 

 been advances in the prices of sugar in 

 Hongkong far greater than are justified by 

 the prices of raw sugar in Java and the 

 Philippines. Sugar (soft Java white) 

 which sold in Hongkong in January for 

 $9 local currency or $7.20 gold per picul 

 of 133^ pounds, advanced to $11.50 local 

 currency or $9.43 gold in May and to $17 

 local currency or $13.60 gold about July 

 12 and is quoted today, July 22. at $25 

 local currency or $20 gold per picul. The 

 prices in Hongkong at the present time are 

 purely speculative, for they are above par- 

 ity with Java at the present time. Poor 

 crop returns in Java, Formosa, and other 

 producing countries in the Far East point 

 to continued high prices, hut Hongkong 

 exports indicate that they do not justify 

 present conditions in this market, which, 



of course, will profoundly affect the course 

 of the refining business during the year. 

 The demand for Hongkong refined sugar 

 in Europe is on the increase as a result of 

 greater available tonnage and the freer 

 movement of supplies, while the high 

 course of prices is reducing consumption 

 in China and is reducing imports into 

 China both of Hongkong and Japanese 

 sugars. Consul (lew nil George K. \ml<r- 

 son, Hongkong. 



GERMANY S CROP 

 Prospects for the 1919-20 German crop 

 are not favorable and a Committee of 



Sugar Manufacturers of- Saxe-Thuringe 

 as early as February L2th adopted reso- 

 lutions stating that if the price of beets 

 were not fixed satisfactorily within two 

 weeks, the crop would be greatly cur- 

 tailed. 



The price was not fixed as desired and 

 a marked decrease in sowings appears 

 certain. 



The association also received little en- 

 couragement in its endeavors to (1) fix 

 the price of beets at a sulliciently high 

 point to improve the condition of labor, 

 1 2 1 secure better conservation of fertilizer, 

 (3) establish factories for the fixation of 

 atmospheric nitrogen, ill import phos- 

 phates. (5) locate workers during the 

 crop, 1U1 increase the rations of sugar, 

 (7) reduce the taxes on beets, and to (S> 

 ration coal. 



