"HARD TIMES" IN THE SUGAR TRADE.

Waikato Times, Volume XXIV, Issue 1953, 13 January 1885, Page 3

"HARD TIMES" IN THE SUGAR TRADE.

Uvdkk this leading, the Sydney Town and Country Journal publishes the following :—: — That the sugar business, that of producers as well as sugar merchants, is passing through trials of unprecedented severity, ia but too well known. The pinch is felt in Austiaha as well as other places, dry seasons, dear labour, and poor m.ichinriy all having their effect. Of the condition of the West Indian trade, the Statist says : — The planters aie uniting in a \ery strong appeal for help to Loul Derby; and for some years past the sugar letineis of the United Kingdom have heen loud in their complaints of the ruinous effect en their industry of the protective and bounty system in force in several of the continental countries Some British firms of importeis and brokers, unable to bear the strain any longer, have failed, and others have pulled, through their embarrassments only by the help rendered by friends. The difficulty has now extended to the Continent, where, in spite of the bounties and other artificial aids by which the trade has been bolsteied up, great fai lines have taken place. The piincipal breakdown lias been that of the Vienna firm of Messrs Weinnch, with liabilities amounting to about £800,000. The assets are estimated at a million sterling ; but as they consist mainly of sugar, to the extent of 100,000cwt., time is necessary to enable tho firm to realise. A year's respite has accordingly been granted for the settlement of claims, by the expiration of which term it is hoped that Messrs Weiuriuh will succeed in righting themselves, as those interested are doing their utmost to suppoit the house. Among the chief creditors aie the Credit Anstadt and the Union Bank of Vienna, the foimer to the extent of £300,000, and the latter £100,000, which amounts are pirtly secured. The mis pension not unnatm ally led to a stiong relapse in credit Anstadt shares, which are a favourite stock in the Gctimin markets. Other secuuties were sympathetically affected, and foi a day or t\\ o n semi-panic prevailed on the Austrian and German Boui 3C3. As far as sugar is concerned, the Austiian banks have all been the \ictims of the protectionist system. The Government lias granted its official protection to the sugar trade, and the banks, from patriotic motives, have followed the example of the Goverment by bolstering up the manufacturers in their turn, and by giving them all facilities. But tins false policy seems to have reached its limit, for the manufacturers go bankrupt, the bankers are severe losers, and materfamilias realises no saving in her weekly or monthly budget. Austrian sugar, which is now virtually excluded from Fiance and Germany by heavy duties, findi it chief market m ths East. The Vienna Foreign Office recently ordered the Austrian Consuls in the East to report on the export of iugar. The state that in the Balkan States Austrian sugar l ales the market — the same being the case in Smyrna and Canea. Austria sends to Alexandria 35 per cent, of all the sugar imported there, while France sends 56 per cent. At Port Said the chrap Austiian sugar aways the maiket. Persia takes chiefly Fiench and Russian, tod no Austrian sugaia.

Heavy Root Crops. — During several dftys in November there was on view at the shop of Mr William Inglis, seedsman, Bridge Street, Kelso, a splendid selection of turnips and mangolds from the Tyningham, Lambden, and Howich H.ill estate. The roots were all of an immense size, beautiful contour, and evcollpnt quality, and were grown from seed supplied by Mr Ingha. The respective sorts were East Lothian Purple Top Swede, grown by Mr Graham, farm manager to Earl Grey, Howick Hallgreatest weight, 17 lbs. undressed ; average of six, 16J lbs. ; crop per acre, cart loadei j oiroumferenoe of bulbs, 19 in. ; grown also by Mr NisWt, Crosshall and Lambden. Fostcrton Hybrid, grown by the same gentleman — average weight 15 lbs. ; crop SO cart loads per acre ; average circumference of bulb, 17 in, Dovonshire, Greyttone, grown by Mr Blythe, farm manager to the Earl of Haddington, Tyninghanic — average weight, 18 lbs. ; circumference, 20 in ; crop per acre, 58 cart loads. Mammoth Long Red Mangold — average weight, 21 lbs j length, 22 in. j ciop per aore, 96 cart loads ; grown bv Mr Graham, farm manager, Howick Hall. The weights and mensuiements mentioned above are taken from six bulbs of the average crop, while the yield per aero ia supplied, by the growers.