SUGAR HOARDERS

Waihi Daily Telegraph, Volume XVII, Issue 5883, 10 April 1920, Page 2

SUGAR HOARDERS

REVELATIONS IN AUSTRALIA. Sugar hoarding on a large scale was revealed in Australia last month, when I Government officers undertook systematic searches. A census of sugar stocks had been taken, and the officials had reason Jo suspect that some firms had not disclosed tlioir full stocks. A Brunswick firm had reported that jfc held no white sug&r. Tlio investigating officer found 14701 b of white sugar and 27 sacks a; about 1701 b each o| biw)i sug;ir in a store room at the back of the shop, and 29401 b of while sugar in an upstairs room of the house next door. In smother ease a large firm of confectioners in Sydney fold the visiting officer that there was no sugar c|.i the premises, except a. stock of about 28 tons which was shoAvn him. On examination, however, he discovered 700 or 800 bags, equal to about 45 or 50 tons, on the second st'jry, behind a large quantity of empty cases. It wjas only after several tiers oi" these cases Were removed that the sugar was discovered. I

l,ii sull another case in Sydney the man concerned admitted having 96 70)b bags hidden iiu a house two mifes away. Examination disclosed 110 other bags of 721 b each, and two bags of 1401 b each scored ?n a. shed. In his census returtis this man had given his stocks as 2501 b of white sugar and 7filb of broWn.

I'lic' hoarders were holding their stocks in anticjpaton of a rise in the price <;f sugar. They stood to make a profit cf about £3O a torn m the sugar they were able to carry forward until the new prices oame into operation.