Word: sugarmen
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Dates: during 1920-1929
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...Sugarmen wondered on what Rudolph Spreckels had built his faith. Like oil, the sugar industry suffers from overproduction. Consumption of sugar has declined steadily, due .to diet regulation, to increased smoking by men, women, children. Federal Sugar Refining Co. is no exception. Its last earnings report (1924) showed a deficit...
...tons, without restriction would reach 4,500,000, perhaps 5,000,000. Yet U. S. sugar men frowned, last week, when the conservative Journal of Commerce (N. Y.) reported the word "determined" as issuing from the Presidential mouth of Cuba's Gen. Gerardo Machado y Morales. Still frowning, sugarmen considered an appeal to Congress to boost tariff rates, another appeal to Cuban producers to conclude a "Gentleman's Agreement...
...would have been permissible for sugarmen to frown, last week, at nearly every piece of news which concerned their industry. Profound is the depression in the sugar business. Raw sugar has fallen from 5.09? a pound in Jan., 1927, to 1.91? last fortnight, the lowest price on record. Over the same period, refined sugar has slipped from 6.36? a pound to 5.10? , last week's figure...
...natural, therefore, that sugarmen should look forward to 1929 with misgivings. Facing the certainty of huge Javanese production, the probability of an unlimited Cuban supply, sugarmen saw little reason to hope for high price levels. They could cling to no solid, saving spar. But they could clutch, if they liked, at either of two straws...