130 SUGAR 



This was the state of tension in which the Conference 

 met at Brussels, and this was the one subject for dis- 

 cussion to abolish the Cartels. It was a long and 

 tedious process, but by the end of February, 1902, the 

 work was completed and all that remained was to wait 

 anxiously for the ratification of the Convention which 

 was provisionally signed on the 5th March, 1902, and 

 came into force on the 1st September, 1903. 



The usual margin between prices of raw and refined 

 sugar in Germany was 3s. 6d. per cwt., but when the 

 Cartel was in operation it rose to 10s. 6d., and when the 

 Cartel was abolished by the Convention it fell again to 

 the normal figure. On 15th January, 1902, a calcula- 

 tion of the profit arising from the Cartel, based on the 

 prices of the day, gave the figure of 7'90 marks per fifty 

 kilogrammes, that is, nearly 8s. per cwt. of sugar con- 

 sumed. This, calculated on a consumption of 703,507 

 tons, showed a profit of 5,558,495 for the industry, 

 with which they could make contributions to those who 

 lost money on exports. The German Cartel profit was 

 sufficient to furnish a bonus of about 5s. 5d. per cwt. 

 on the refined exported, or 4s. lOd. per cwt. on the raw 

 sugar exported. The Austrian Cartel profit, calculated 

 in the same way, was found to amount to more than 9s. 

 per cwt. of sugar consumed, showing an annual Cartel 

 fund of 2,957,868, sufficient to furnish a bonus of 

 4s. 8d. per cwt. on the refined sugar exported, or 4s. 2d. 

 per cwt. on the raw sugar exported. In the year 

 ending July 31st, 1902, Austria-Hungary produced 

 1,171,056 tons, consumed 349,117 tons, and exported 

 739,186 tons. In the same year Germany produced 

 2,302,246 tons, consumed 743,520 tons, and exported 

 1,144,317 tons. Together, these two countries were 

 able to furnish the outside world with nearly 2,000,000 

 tons of sugar. They were selling it at 3s. per cwt. below 



