Saturday, Mar. 31, 1923
The Corner
The sudden rise in the price of sugar from 7 to 10 cents a pound has created a great movement of protest throughout the country. Four Federal agencies and one non-partisan political organization have already begun inquiries into the alleged sugar corner, and all expect to find evidence of manipulation through monopoly which will be brought before a Grand Jury. The five agencies investigating the so-called " sugar steal " are:
The Department of Commerce, which is carrying on a world sugar survey with a view to exposing the methods by which manipulators have been able to make it appear that a sugar shortage exists.
The Department of Justice, which is now conducting an investigation under the Sherman and Clayton Acts to determine whether sugar speculators have been guilty of a conspiracy in restraint of trade.
The Federal Trade Commission, which, acting under the organic law which created it, is gathering data tending to prove that unfair competitive ethods employed by sugar gamblers render them open to prosecution.
The Federal Tariff Commission, which is conducting an analysis of the sugar situation to ascertain whether the President is justified in exercising the sliding scale provisions of the Fordney-Mc Cumber Tariff Law, whereby the tariff on sugar can be reduced by 50% at the President's discretion.
The People's Legislative Service, an independent, progressive political body, which is furnishing material to all Federal agencies to aid the exposure of the sugar corner.