The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1888-11-14

- =.
fnery, but reincorpotated on the
22d day Of August, 1885, as the
American Sugar Refinery Company
with capital stock of $1,000, 900,
divided into 10000 shares of the
par value of 500 each, the objects
and purposes of the company, as set
out in its articles Of Incorporation,
being "to carry on the business of
sugar refining; to purchase, sell
manufacture and deal in sugars and
the products thereof; to purchase,
sell, hire, lease, maintain and oper-
ate sugar refneries and refining
works; to purchase, sell, hire and
lease such lands as are requisite or
convenient for carrying on the sugar
refining business; to purchase, sell,
construct and maintain buildings,
machinery, tools and other articles
and materials necessary or useful in
said business to purchase and hold
or sell shares of the capital stock of
other corporations, and generally to
do and perform all other acts and
things necessary or useful or auxil-
iary TO the main objects of the COM
pany as above set forth"
About the 1st of March, 1888, the
american Sugar Refinery Com
pany" amalgamated with ''The Su-
gar Retineries Company" ,surrend-
ering to the latter its entire capital
stock and taking in lieu thereof cer-
tificates issued by said "The Sugar
Refineres Company" of the face
value of one and quarter millions
of dollars. Since that time the
"American Sugar Refinery Com
pany" has been under the exclusive
control of "The Sugar Refineries
Company" (Which is not corpora
ton but an association of Eastern
capitalists), the supply, as well as
the price of the sugar of the Cali
fornia Company, being regulated en-
tirely by the trust managers. The
American Sugar Refinery Company
has failed to carry out the purposes
for which it was incorporated, has
surrendered the entire control of its
properties to outside parties, has
ceased to maintain it's identity, and
has become part and parcel of an
unlawful combination to decrease
the supply and increase the price of
necessary article of domestic con-
sumption.
Carrying out the views of the So
ciety in undertaking this investiga-
ton into the workings of the sugar
trust, your committee has also ex-
amined into the present legal status
of said American Sugar Refinery,
which we understand is the only
California corporation belonging to
the said trust, and to that end have
examined the opinion of the Attor-
ney-General of the State of New
York, rendered in re the North
River Sugar Refinery Company and
in re the Sugar Refineries Company.
on the 29th day of June last, and
have also consulted with the Hon.
G. A. Johnson, the Attorney Gen
eral of the State of California, and
now report to this society, after
such investigation, that in the judg-
ment of your committee the Amer
lean LSugar Refinery, by becoming
amalgamated with the Sugar Rein
cries Company, has committed an
illegal act, and that in proper ac-
ton in the Courts in the State a for
feiture of its charter will be decreed.
Your committee suggests that the
Tammany Society of San Francisco
take immediate steps to have the
Attorney-General commence proper
action against said California
corporation for the forfeiture
of its franchise, and for dam
ages, and to that end make provis-
ion for the necessary costs and re-
tain counsel to assist the Attorney
General in such prosecution.
Your obedient servants,
r. B. MITCHELL,
G. l.. ACKEBMAN,
p. Il. DUNE,
Committee.
Dated October "a, 1888.
= Alta California, Oct. 20.