Rock Island daily Argus., 1888-12-13
Boring 6 for Trusts.
A New York Senate Committee
in Great Luck.
VERY RICH PAY DIRT STRUCK.

A Sort Of Double Barreied Grocery Trust
First Developed, Then Some Informa-
tion of the Copper Combination; Next
the Cotton Bagging Compiot. and Final
ly a Pointer on the Whisky Alliance
Interesting Facts Testified to.
NEW YoRK, Dec I3.-The committee ap-
pointed hy the state senate to investigate
trusts met yesterday in the supreme court to
continue its hearings Mr.. F. B. Thurber
was the first witness He said there were
two organizations of grocers in this city, the
Wholesale Grocers' association Of
New York and vicinity and the
New York State Wholesale Grocers'
association. They were formed for the pur-
pose of regulating prices and making rules
for carrying on the trade. He said that the
articles considered by the association so far
were cocoa, sugar, and bakiug powder. The
members agreed 10 sell only at certain
prices There was no pena lty attached for
selling at rates below the association rates.
Mr. Thurber admitted that the price Of re-
fined sugar had been advanced X cents per
pound since the formation of the sugar trust.
Any member of the Wholesale Grocers' as
ISOLATION was at liberty to buy from sugar
manufacturers ontside the sugar
trust Mr. Thurber said there was talk Of
the formation of national Wholesale Gro
GERS association and his belief was that be-
fore May ], 1889, such a trust would be
formed.
John Stanton, counsellor and treasurer of
the Lake Superior, Allonez and other min
ing companies. was the next witness. He
said the company he represented made all
agreement with the French syndicate In
April last to furnish them with all the cop
per produced for the 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 com
pelled to deliver copper at rates fixed by the
syndicate The French syndicate practically
controlled the copper market
Mr.. Charles Ralph, a copper croker, gave
similar testimony to Mr. Stanton
Appleton SturgiS, president OF the Eagle
Cotton -Bagging mills of Brooklyn, testified
that the cotton -bagging trust had bought
about l6, 00) 000 yards of bagging at from u
| to So cents yard, and had leased OF bought
five or six mills. The object was 10 get II
reasonable price for their goods There were
elgnt members IN lne combination, bnt Iht
output was controlled by three of them.
Bagging can not be brought here from Cal
cutta or Dundee in competition with tbs do.
nestle product. If the tariff were reduced
even moderately the combination could not
( exist
Samuel Mandel, copper broker, testified
/ that he had sold large quantities Of Ameri
| can copper to the French syndicate. The
| price had risen from about 10 cents a pound
In May, 1857 to IL cents at present Wit
ness knew of but one house in this city
which is, or was up to while ago independ-
| ent of the syndicate Witness did not be-
| lieve the syndicate would be able to dispose
of its enormous holdings at present prices
! 1t contr OILS the price now, however.
! p J. Gooihart, broker, testified that he
was familiar with the operations of the dis
tillers' trust Its headquarters are in Illinois.
| Its capital is about $50, 600, COO, represented
| by share certificates, which are dealt in on
the street, but not on the exchange. Divi
dends are paid to stockholders who are regis
| tered at the office of the Central Trust com
pany, of this city. The shares are at presen
| paying :. per cent. per month.