Business & Finance: Spreckels Sugar

Spreckels Sugar

Rudolph Spreckels, onetime political reformer of San Francisco, more recently a harbinger of hope to the sagging sugar in dustry (TIME, Nov. 19), made a gesture last week. President of Federal Sugar Refining Co., he announced the formation of Spreckels Sugar Corp., capitalized at $20,000,000, to take over the business of Federal Sugar Refining.

Not unctuously, but boldly, Rudolph Spreckels explained: "The new company will be controlled by me personally, and I have permitted my name to be used as an assurance to the public that I have faith in the future...

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