New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-03-09
INQUIRING INTO THE SUGAR TRUST.
JOHN z. PARSONS UNDER EXAMINATION BY THE
CoNGREss COMMITTEE.

JOHN Z. PARSONS UNDER EXAMINATION BY THE
CoNGREss COMMITTEE.
WASHINGTON March 8.-Tho investigation into the
subject OF trusts and their influence upon tho price OF
commodities authorized by the resolution adopted by
the House of Representatives, was formally begun
this morning by the House Committee on Manufact-
ures with an inquiry into tho sugar Trust ono OF
tho witnesses ubpOenaed appear there were present
Theodore Hsvemeyor, Henry y. Hac emeyor, John T.
Parsons, Hugh N. Camp and George H. Muller, OK
Now-York william H. Morris, OF New-York, failed
tc John K Parsons, tho attorney OF tho
Sugar Trust, was first put tho stand and told OF
the formation of tho Sugar Trust, producing copy
of tho agreement, with the exception Of that part 10
lating to the interest hold by tho various members
of tho Board In tho capitalization OF tho company.
This agreement has already been printed, having been
laid before the New-York state senate investigating
Committee The total capit alizat0n OF tho sugar
Refining Company. no said, was $J0O0o,0O0. All OF
the stock had been issued to the original parties OF
the agreement, with the exception Ut 10 per cent,
which had been retained The company was not ln-
corporaed under the laws OF any state The agree
ment provided that the corporations whom they came
into tho agreement should be free from liability.
Witness asked If there not Instances In which
tho Board became tho poSsessOrs OF the mortgages
resting the properties for the improvements unLer
taAing and said that the Havcmcyer ~ Elder Com
pany and the bonner Castro Company had mortgages
their property, but before no could nano any other
com pancs no wa interrupted NY ono or the aseIcJor
brothers, OUJocted any further statcmenL Tor
the that 1t INT Affect tho credit ei tho COM
panies The arrangement vas made nc SAID, 10 So
low price Oh susa, together with falr pIoht,
and 10 determine whether the prco here was high or
low, the price of sugar in London must fist DO as
certancd-
DO understand that foreign nations uso moro
sugar than the United States
DIR. HaVcneyee.-En5 and uses seventy pounds or
sugar Ter CaIta TO tho nitcd states nifty pounds.
Rep escntatvo smith made statement at this point
to the effect that sugar cheaper in Wisconsin in
1S45, notN standing the imperfect trans Iortaton
facilities than it IL to-day. Mir Hayemeyer said that
gar not subject at that time TO tho present
ratio OF duty. Tho Committee than went Into secret
session and determined that Mr. Parsons should DO
required to state what companies had mortgages on
their property at tho time they became members of
tho Trust wheeBpOn witness said that thcro wcro
liens the property OF the oxna"d Company, Muller,
eierck Il Co., and Matt hesen, Wicchers &c Co.
OF the Trust Is not Incorporated.
you say, how cOnd tho certificates bo
thrown on tho marketl At does not roqrro
corporation TO them any than the Penn
sylvania Railroad has to own It's stock
After Chairman Baron had Informed the witness
that tho Committee had decided to Insist that he should
produce statement giving the amount in certificates
awarded 70 each OF The corporations to tho agreement,
the investigation adjourned.