The Red Cloud chief., 1889-07-26
THE TRUST

Less Sweetness and Moro Money To- 10
Squee zed Out of SuSar-A Combine to
Advance the Price of salt.
NEW YORK, July ga belief that the
vast quantities of refined ~ that have
been piled up in The big storage Ware
houses along the Brooklyn water front
during the past two years has been corr
raled with the view Of n squeeze bv the
managers Of the sugar trust has found
many supporters in inancia circles.
Though for some time past the pi;ing up
OF the commodity was generally known.
It was supposed to be owing to q scarcity
OF room in the refining buildings. The
Havemeyer 4 Elder, Havemeyer 4
Mathieson and Wecher companies, the
apparent controlling spirits of the trust,
were the most extensive s:orers. '
On the Stock Exchange tho opinion pre-
vailed that the trust had been engineering
q corner in sugar and that ere long the
price of the refined article would be sent
up like q rocket The wholesale grocery
houses and other consumers Of the article
in this city evidently anticipated this
movement on the part OF the trust, and
Tor months past every available inch OF
storeroom in the big grocery houses on
the West side has been utilized for storing
sugar. and many Of the public ware
houses heretofore at this season of the
year filed with the winter supply of
canned goods have been engaged by the
wholesalers for sugar storage.
On the other hand Wall street sugar
brokers-thOse who will talk on the sub.
ject-hold that the trust has stored the
sugar because there is no market for il.
The prices nave struck bottom and refin-
ers can realize no profit ON their nan
factura.
1t has been suggested that possibly the
sugar has been accumulated to undermine
Claus Spreckels when he got his Philadel-
phia beet product refinery in operations;
that it was the intention to swamp the
market with the genuine article at a low
price rs soon as Spreckels should turn
out his first cargo In answer to this
theory q member Of one of the most
prominent sugar concerns in Wall street,
but with no affiliations with the trust,
aid "Whatever the object OF storing
this sugar is it is slmost certain that
Spreckels has a hand in it. HIS alleged
enmity to the sugar trus, is all moon
shine. No one on the inside supposes tor
a n instant that he is going TO fight a
corporation with $50, 900. 900 He is with
the trust and and glove. He's too smart
q business man to fight against it,"
THE AT TRUST.
ALBANY. N. Y, july 2l-The North
American Salt Company filed articles OF
Incorporation in the Secretary of States
office yesterday. Franklin Woodruff.
Horace i. Thurber. w. A. Hazard and
Charles F.. Burger. are the incoIporators,
with a capital Of 81, 900. coo, divided into
275, 900 shares Of so each. They state that
they are to manufacture and sell salt and
its products The principal part
of their business will be in War
saw, N. Y, but they will
also carry On their business, in the
following places. Meigs and Tuscarawas
Counties, Ohio; Mason County, W. Va:
Reno and Rice Counties, Tex; st. Clair,
Huron, Saginaw, Bay and Iosco Counties,
Mich.
The following thirteen trustees. who
shall manage the concerns of the company
for the first year. are named: Wellington
Burt, Franklin Woodruff. H. K. Thu Der,
William A. Hazard. John Garfield. VIII
liam S. Conklin. Albert Boardman, Jay
Morton, Richard l. Wilson, Henry W.
Cannon. Charles +. Burger. Right Ion.
Lord ThurlOw and Joseph Verdin.