The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1889-07-11
THE SUGAR TRUST.
The Effect of Judge Barrett's DecIs-
ion as Viewed by a Refiner.-The
Reason of the Advance In Sugar.
Boston Advertisers Financial Article )

Boston Advertisers Financial Article.)
Just before the close of today's stock mar
kets the report was circulated through sew
eral channels that the New York courts had
unanimously sustained Judge Barretts de-
cision in the case against the North RiverRe-
fining Co. 1t was in one despatch denied
that any decision had been rendered, but ad-
mitted that it would likely come soon.
Inquiry of q prominent local sugar refner
this afternoon elected the opinion, that
affect the intrinsic value Of the GER
ifcates rap. 1t is possible that an
appeal will be taken to some higher
court. perhaps to the U. S. Courts, if that
course is open. But without regard to that
event, there is nothing in. Judge, Barrett's
gar Trust. 1t is to be borne in mind that the
suit in question was not against the trust, or
the Sugar Refineries Co., but against the
North River Refining Co, for violation OF its
charter, and Judge Barretts decision was
apparently considerably based upon techni..
cal points-not upon the broad grounds of
public policy that entrance into a trust was
sufficient reason for reyoking charter.
Thus the judge made much OF the TACT that
the North River Co. had failed to make its
annual returns as required by law. That, 1t
will be observed, is purely technical point,
and it is in sense accidental that it happens
to be urged against sugar refining comT a.
ny.
At present the North River refinery is not
in use, and the trust can well afford to give
up its charter without further opposition,
unless there is some principle involved be-
yond what now appears. Evidently there
is nothing in this decision or its cOnfirma-
tion to interfere with the profits of the
trust
The price of raw sugar of standard test.
duty paid, is today ST cents; the price of
granHlated is 81 cents, leaving margin TO
cover cost of refining and profits OF l cent.
One year ago the raw sugar, duty paid,
stood at 81 cents, granulated 1-16, leaving
margin of l 5-16 cents. The margin one year
ago was 5.16 cents pound greater than 1t rs Is
the sugar trust is as grasping as generally
believed.
The price of raw sugars in London today
is double what 1t was a. year
ago. London Is the central market for sug-
a rs. Hence, it appears that the advance in
the cost Of sugar has been due mainly to
natural causes and quite independent OF the
trust. The point is also made that raw sug-
ars are today cheaper in this country than
they would be were there no trust;
for there is but one buyer where there would
otherwise be u competing buyers, each
ready to go trifle better than the others in
the emergency of a short crop.
here are few instances Of the economies
which the Sugar Trust is making: 1t now
maintains two offices in this city where
formerly there were four, and it has dis
pensed with a number of expensive sales
men; 1t employs one engineer where for
merly four were employed, and one super
intendent in place of four. And the same
economies have been made in New York.
These economies result in profits. the le
gitimate nature of which no one will ques-
tiOn.
In addition to the above we are told that
the city of Brooklyn has been trying for
several years to purchase the property Of
the North River Sugar Refinery Company
and turn il into a park