The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-05-10

trust, except Harrison, Fraser & Co.
and L. g. Knight & Co, of Philadel-
phia, Ii small concern in Boston and
Claus Spreckels.
Mr.. Oxnard said he did not know
anything personally Of the formation
of the trust, as the negotiations for
the American Refinery were carried
on by his attorney, John r. Dos
PasOs. After three hours of persis-
tent questioning Mr.. Oxnard con-
fessed that the company, the Ameri-
can, exchanged its stock, with the
exception of a few shares, for certi
ticates of the Sugar Reineries Com
pany, and that he signed the name
of the company to the agreement.
John 4. Searles, Jr., presented the
document and read a portion of it to
him. He said he did not read it at
all, and did not know what the title
of it was. If he read the title he
could not remember it.
Judge Wallace was curious to
know whether the owner of so much
valuable stock in the American Sugar
Refinery surrendered it for certif-
Gates in the new combination with
out knowing what the latter were
worth and signed the agreement
without understanding what it con
tanned. Mr.. Oxnard said he did so
upon the advice of his attorney.
Secretary +. w. Zeile of the
American Sugar Refinery produced
the letter books of the company in
court, the prosecution desiring to
show that the company renders re-
ports of all its transactions to the
trust in New York, through John E.
Searles, Jr., the Treasurer of the
combination.
The reading Of such portions of
the letters as wOnld show the profits
of the business was allowed.
The statements made to John T..
Searles Jr. were to the effect that
the profits from all sources from
January l, 1888, to August l, 1888,
were S376,351.5S; for August, S72,-
1892, and for September, 1913, 1882.
October and November were fairly
prosperous, but in December there
was not a great deal of profit.
1t was proved that all the ex-
penses of the American Refinery
were reported to John E. Searles
Jr., and the following monthly pay
roll was placed in evidence to show
how the money Of the company is
disbursed for Office expenses: Robert
OXnard, assistant to the President,
which Attorney Mitchell explained
is another form of saying that ne
represents the sugar trust, S625 a
month; T. w. Zeile, Secretary and
Treasurer, $3.50; Charles W. Brown,
cashier. 5000; John Jones, book
keeper, S125; Miss Maloney, type
writer, $40; Paul, Office boy, S25.
Mr.. j. d. Spreckels testified that
of the twenty-four sugar retineries
in the United States all but seven
had been shut down, and that Of
those working three are in the trust
and four are out of it. Those out of
the sugar trust are the California
Sugar Refinery, owned by Claus
Spreckels q Co, and the Belvidere,
the Harrison & Fraser and the E. G.
knight refineries in Philade lphia
He said the annual consumption of
refined sugar in the United States is
100000 barrels.
Robert Oxnard being recalled said
that from the time he arrived in this
city he acted as assistant to Presi-
dent Welch of the American Sugar
Refinery. He said the Hawaiian
Island sugar planters are Interested
in half the profits of the American
Sugar Refinery after taking out the
cost of operations. This is an obi
cation that Havemeyers 81 Elder
have undertaken as successors to the
American Sugar Refinery
Hermann Bendel, one of the stock
holders of the American Sugar Re
fnery before the stock was trans
ferred to the solid eleven of New
York city, headed by John E.
Searles, Jr., said he had a converse
ton with Mr.. Searles in which he
was given to understand that by ex-
changing his stock for certificates of
the Sugar Refineries Company he
would thereby become interested in
several reineries instead of one. He
sold his stock to Searles.
Samuel T. Alexander said he was
an owner of stock in the American
Sugar Refinery until the stock was
transferred to the Sugar Retineries
Company. He owned 21O shares of
the stock and got 315 shares Of the
certificates of the Sugar Refneries
Company. He sold all Of his stock.
Nevertheless, ten shares were left
standing in his name to enable him
to act as a trustee. As a matter of
fact he did not own these ten shares.
w. w. Montague said he trans
ferred all his stock in the American
Sugar Refinery to Mr.. Searles.
After that ten shares were put in his
name to enable him to act as a trus-
tee of the corporation. He did not
know where the ten shares of stock
came from. He did not buy them
and never owned them, although
they stood in his name.
Would you have undertaken to
have sold or to have mortgaged those
ten shares?" asked Judge Wallace.
No, sir" replied the witness.
General Dimond testified that ten
shares of stock had been put in his
name by President Welch of the
American Sugar Refinery, but that
he had never owned them.
The trial of TIE great sugar trust
case was concluded yesterday morn
ing, April 10Th, after long debate
between Attorneys PiersOn and Viii
son over the introduction of the re-
port of the New York Senate, which
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