THE SUGAR MARKET.

Taranaki Daily News, Volume LVII, Issue 303, 1 June 1915, Page 7

THE SUGAR MARKET.

THE ((OVERX.M KXT'S VIEW. By Telegraph.—Press Association. Sydney, Hay SI. .Mr. Hughes, in a lengthy statement . to the press covering the sugar position, states ihat arrangements have been made with tlie Colonia! Sugar Company | to import sullieient to cover the shortage. This will be sold at C 25 per toil, anil the import duty of .Uli per ton will be suspended during the import period. Summing up the position, lie declares that, the Colonial Sugar Company lias secured control of the market, and prevented all ell'ective competition. It has made huge profits and built up great issets, which are hidden from public scrutiny by means of ingenious methods, and swallows the lioifs share of the profits of a great Australian industry. It has treated tlie grower, the distributor, and the consumer with contemptuous indifference. It knew of the impending shortage as no one else did, or could have known. It neither took tlie steps to meet it nor to disclose the information until the price had risen and opportunities for freight became move restricted. Then, when the community, as it thought, was helpless, it spoke and assumed an air of great concert, and oll'ercd to come to the relief ■of the ■ people provided it could be assured of its profits. Had the public been notified, arrangements could have besn made for meeting the shortage upon much more advantageous terms. Mr. Hughes alleges Ibat six days before it notified Mr. Holmes of tlie shortage the company exported three thousand tons to Canada. Mr. Knox promises to replv to .Mr. Hughes- statement. j