Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1888-12-14
The Workings Of Trusts
FACTS BROUGHT TO LIGHT BY THE
SENATE INVESTIGATION.
THE FEDERATION OF LABOR
sccord Days Proceedings of the St Loui.
Laltor Congress-The Orders Finances
Report of the committcee
on Organization.

NEW YORK, Dec. 1.-THE committee
appointed by the state senate to investi-
gate trusts, continued its hearing. Mr..
IF. 3. Thurber was the first witness. He
said there were two organizations of
grocers in the city-the Wholesale
Grocers' association, of New York and
vicinity, and the New York State Whole
sale Grocers' association. They were
formed for the purpose of regulating
prices n making rules for carrying on
the trade. He said that the articles con
sidered by the association SO far wei
cocoa, sugar and baking powder. The
members agreed to sell only at certain
prices. There was no penalty attached
to selling at rates below the association
rates. Mr.. Thurber admitted that the
prices of refined sugar had been ad-
yanced 40 per pound since the for
nation of the sugar trust. Any
member of the Wholesale Grocers' as
ISOLATION was at liberty to buy from
sugar manufacturers Outside. of the sugar
trust, Mr.. Tkurber said there was talk
of the formation Of a national wholesale
grocers' association, and his belief was,
before May /, 1889, such a trust would
be formed.
Mr.John Stanton, counsellor and treas
urer of the Lake Superior Allonez and
other mining companies, was the next
witness. He said the company he repre-
scented made an agreement with the FREE
mont syndicate, in April last, to furnish
them with all the copper produced for
tae term OF two years and eight months.
Since the agreement the price of copper
in this country had advanced to about II
cents per pound. They were compelled
to deliver copper at rates fixed by the
syndicate. The French syndicate prac-
tically controlled the copper market.
Mr.. Charles Ralph, a copper broker,
gave similar testimony.
Appleton Sturgis, president of the
Eagle cotton bagging mills, of Brooklyn,
testified that the cotton bagging trust
had bought about 10, 600, 100 yards OF
bagging at from Go to SIC a yard and
had leased or bought five or six mills.
The object was to get a reasonable price
for their goods. There were eight mem
bers in the combination, but the output
was controlled by three of them. Bag
| ging cannot be brought from Calcutta in
competition with the domestic product,
Samuel Mandel, q copper broker, ties
titled that he had sold large quantities
of American copper to the French syndi.
cate. The price had risen from 10 cents
q pound, in May, 1887, to- 171a cents al
the present time. Witness knew of but
n house in this city which is, or was
up to awhile ago, Independent of the
syndicate. Witness did not believe the
syndicate would be able to dispose of Its
enoT NOUS holdings AT the present prices.
1t controls the price, now, however.
7. J.. Goodart testified that he was ia
miliar with the operations OF the dis.
tillers' trust. Its headquarters are in
New York; It's capital $50, 600, 600, repre-.
senteds by share certificates, which are
dealt in on the street, but not on ths
Exchange. Dividends are paid to stock.
holders, who are registered at the Office
of the Central Trust company, this city
The shares at present are paying u pc
cent, per month.