SUGAR SHORTAGE.

Ashburton Guardian, Volume XXXV, Issue 9155, 1 June 1915, Page 8

SUGAR SHORTAGE.

MR HUGHES'S CHARGES

MS KNOX'S. UEPLY

(Per Press Association —Copyright)

(Received June-.1, 10.15 a.m.) SYDNEY, June 1. Mr Kaos (gtweral manager oi' the C'cloni:;! Sugar Company) has replied x-o Ivir W. M. llwglies's statement re&;?rding thr> sugar position. He says tlu! Colonial Sugar Company wrote to ilf lloJman five weeks ago. pointing out th;;t ikf-nt would probably be a shortage. Mr Unliaaa replied that be doomed it naoftssa-rf to see {':). Subrt ~vr'm\ of letters passed and iriioivic-'va i«-:eiv hold, bat the company •.vas still without official confirmation of th;> understanding to pnrchn.se £259.000 word' ,ot' „T,-!-v;ui sugar: Wo never. .prr>pois*.'d ' >or .said anything in •fii'/onr of h rt-missioii of the duty. He tr.°.yerses ;\J r If nglios's statement chut' the > company was aware- thei'e would bo. a sliovtago, and that it ooukl be averte^l,' -and- says: that it was not till April' 20 that the company was; aware .of' tho fact, and informed Mr Holman on 'April. 26. The company .sol'l the 3000 tons 61" sugar to Canada on March,l l2, ; berore any shortage wns apparent, Jaad• nowr has. to import /.at . £.4 per ton .'ivboVe, what .Cflnada paid. lie. adiiiist that probably tlie -con.pany coukl hare bought ;ht a less price than it h paying for .Tavan -sugar ir" the New South Wales and Federal i Governments had taken che 'warnings : s^^riously aud not delayed the ncgoiia- j

tions. Dealing with Mr Hughes's statement that the handling of imported sugars was one pi" ■ the company's chief sources of. '-gain, Mr Knox declare.? that the margin of profit was- very araajl. Ho had mfarmed Mr Holtnan tliat tie expected .4. per cent." profit on H>e Javan sugar, in bond, whilst the di.sinbntinjv trade roooived from the oo:n----pa-»T 6 per. xviit. .discount for niorely Holling the 'ftivwrI!i- flomc-fi;tl';'. Jc si.nv trader or iD-tihi- ( ii-.rinrcr has over heen dc-barrcld i's-onr ■ bnvi'TX tb'\ T-oiiipftny's .sugni's nt: !is[ j pr'uv:*' ;«.(!. disc-omits. ,