THE PRICE OF SUGAR.

Press, Volume L, Issue 15156, 21 December 1914, Page 2

THE PRICE OF SUGAR.

AUCKLAND MARKET IN FEVERISH CONDITION.

(SPECIAL TO "THK PRESS.") ! AUCKLAND, December 19. Sugar is something of a nightmare to the Auckland grocer and merchant. Notwithstanding. the fact that it is now between four and five months since the outbreak of the war, trade is still practically in the same feverish condition, and a rather interesting position has been created. During the last two days Auckland wholesale merchants have received intimation from the Colonial Sugar Company that further.orders cannot be accepted until the demands from the South have been complied with, the explanation given being that as the shipping traffic is dislocated during the holidays, it is imperative thaD the supplies fp;- the South shall leave Auckland immediately by the available boats. In some quarters this action has been regarded as a possible prelude to a further increase in the price. The New Zealand manager of the Sugar Company (Mr Philson) stated that ever since the war broke out thero i had been a panic demand for sugar. So great had been the increase in orders that the company had deemed it necessary to take steps to prevent retailers and merchants laying in stocks and now it was obvious that the continuance of the heavy demand was due to the fact that the" nnbljc were still buying in abnormally large quantities. Mr Philson expressed the opinion that householders were being induced to lay in large stocks by the grocers by the argument that big rises must presently take place. There was absolutely no connexion between the intimation to the trade in Auckland that local orders would not be accepto'l urtil souther" sh-'nmcyts hatl been, despatched, and a rise in price. The intimation was one that was or- < dinari'v. «?iven at holiday times, when I tho shir>nin2 traffic was suspended. Asked whether there was a nrobnbilitv there woiiliJ be a fti'-tbfr rise ' in orice in the near future, Mr PHlson , eaid he had no information to pive on ' that matter. The prices charred by the company were enti-ely controlled from Sydney. Tf the nnblic ironc'ne for one moment that they were being exnloited by the corrmnny. he only γ-o remind of t>>e fnct that tl'ey had already enld raw su2ar to the Imperinl authorities at a rrice that, prevai'i"" , in Tlomirion for refined fiujrar. However, the public of Australia and New Zea'and relied noon the colonial snnn'v. and the company va'ned the of the Dominion. It was true the wholesale merchants comolnining of being starved. bv>+ it wjis solely due to flHnormal demand on the part of ' the mihlic. An entirely different- view as to where tTie outnut of sugar is vanishing is hold by a lending Auckland mmrhant. In conversation with a retailer, lie declarer) t^at. the panic of T>vh\k nad entirely died away, and the people we>-<» viewing tn« situation with «ynaninrity. Undoubtedly Sucar Company -was restricting of-ooks a<; far as end his own firm Kid »r>nnd i + imnosaible to retain a bac of siiwar. T*<ere would be further n"=es in price, and he was of opinion tKnt. grocers -were 'hanoine to stocks •with that contingency in view.