The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1888-03-03
INVESTIGATING THE TRUST.

We devote considerable space in this
issue to a report of the investigation of
the Sugar Trust by the New York Legis-
lature The formation of this trust is
one of the most important questions be-
fore the public at the present time, and
it has been the subject of much comment
by almost the entire press Of the United
States. The San Francisco "Call," OF
February 23d, in an editorial comment
on the investigation, says: The New
York Senate investigation into the
methods and purposes of the sugar trust
promises good results. Henry 0. Have
meyer of the New York house which
took the initiative in the organization of
the trust declined to answer several
questions under advice of counsel. The
committee, b wever. will be able to do
witto t r. HAvem-yer. George H.
.Mol:aI ., .i.o <ar,h River Sugar Rein
cry had .o ala .u tivte Lr. Havemeyer
hal t. - the advice
cou 81, led that his
refiner .rember for
S750,.wO 1t g. o. NC transactions
that til tru4 aggregate o!
proper les valued apart at $1,000, 000,
valued the same properties at 500, 900, 900.
1t is on the latter sum that the trust,
doubtless, proposes to declare dividends
equal to or per cent interest year.
Mr.. Mollar said that it was self-evident
that the object OF the trust was to kill
competition. Since the trust was formed
there had been no competition in New
York. There had been no considerable
market for raw sugar under the trust
management. 1t appears from Mr..
Havemeyer's testimony that the trust
controls about IS per cent of the sugar
industry of the United States. This is
doing pretty we'll considering the short
period of it's operations. There remains
but ID per cent to buy up or crush out.
The largest independent refners are in
California and Pennsylvania. The state
ment of the case made by Mr.. Have
meyer should convince the people that
the trust must be controlled. If it is not
it Will be in position to squeeze $40,-
OOO, 900 year out of the people over and
above fair profit.
The San Francisco Merchant" COM
ments as follows: The formation of
sugar trust in New York has been the
subject of much invidious comment by
the press generally throughout the
; h. of 1cf ho
voice of non-approval echoed by the
thousands who are compelled to purchase
the commodity in large quantities, and
who naturally object to assist in swell
ing the millions which this combination
will clear if it carries out its operation
successfully. The arbitrary rule which
the members are exercising has met in
some instances with more than passive
opposition. Philadelphia capitalists are
now figuring on the erection of factory,
which when when started will turn out
I,2O0, 900 pounds per year. The Ways
and Means Committee of Congress will,
it is said, report bill cutting the duty
on sugar about % per cent; and many
legislatures are in favor of providing a
direct bounty on every pound of sugar
produced in this country, equivalent to
tive duty now levied. So far the trust
has not extended its powers in the direc-
ton Of this city, and if it does, some
powerful opposition viii be met with in
one quarter at least.