Morning journal and courier., 1889-01-05
News by Telegraph
 FROM ALL QUARTERS. 4 GIGANTIC SPINDLE. Collapse Of A Mysterious Sugar Refining Process. YELLOW FEVER ON THE YAHTIC. Suicide Of A Minister In Sa-
 lem, Mass.
ATTEMPTED ESCAPE OF CONNECTS
The Nicaragua Canal Bill
 Passed By The House.
A RIG SHEAR SWINDLE.

A BIG SUGAR SPINDLE. Collapse of ssThe Electric Refining Oompany',-Its officers Disappear With a Quarter of Million Dollars -EngIishnen Badly Bitten - How the Scheme Was Played.
 NEW YORK, Jan 4.-The Electric Refining company has collapsed and the alleged meth cd of refining raw sugar by electricity has been proved to be fraud. The shares of the Electric Sugar Refining company were quoted to day in London at il pounds per shares. On Monday they sold at s3 pounds. The capital stock of the company consists of 10, 900 shares of par value of 20 pounds.
 Only about 5000 shares however have been
 doated upon the public and nearly all Of
 them are held in England. The alleged pro-
 cess was announced as 8 wonderful discov.
 cry in 1882, Prof. Henry c. Friend claiming
 to be it's inventor. He said 1t would save six
 dollars per ton in refining raw sugar and
 would produce finer sugar than any other
 method.
 IT WAS GREAT SECRET. Refners waited to see the process of refn- ing, but this MT. Friend steadfastly declined
 to allow, claiming that it was not patent
 able invention and that in order to protect
 himself he would not dare allow any one to
 see how he achieved his marvellous results. Finally, about year ago company was
 formed, of which W. H. Cotterill was chosen president and J. A. Robertson treasurer and secretary. Offices were fitted up at 69 Wall
 street and factory established on Hamilton avenue, Brooklyn. Last March, before pre-.
 pairing for full blast operations, Friend died,
 leaving the secret with his wife, who would reveal it to the company at the proper time. Meanwhile stock was issued at par and the
 treasurer's visits to London, where he sue. ceeded i'll placing large amounts of it at 8 premium.
 THE BUBBLE BURSTS. The suspicious of the officers were aroused some days ago when it WAS found that Mrs. the factory had disappeared. An investiga- ton of the secret room in which operations had been conducted showed how big a swim dls it all was. Not pound of raw sugar had been refined in the factory. Quantities of refined sugar, chiefly cubes, had been pur- ] chased by the operators and prepared in some secret spot with 8 chemical liquid which ! eliminated the ordinary impurities found in all sugars. This doctored sugar was then ! oarted to the factory in bags purporting to contain raw sugar. The chemical used had crystalized the cubes to large extent and ! when they were broken they had finer ap- ! pearance and quality than sugar was ever known to possess. The erushers in the se- ! crst room were used merely to break these | cubes, and the produce was what delighted | the stockholders.
 THE SUGAR TRUST AT PEACE. From all appearances and the most careful calculations it is believed these clever swin dlers have realized sum approximatine | $250, 0,000. The scheme was cleverly worked l to the very last. The stockholders and off, | cers of the company were kept in perfect ! confidence as to the future of the process un' | til the largest possible amount of money | could be secured and then the bubble was al lowed to burst. There is no such process as
 electrical sugar refining and the bugbesr ot ! the sugar trust is dead.
 | A dispatch from London reports the sen-
 sation in Birmingham over the revelations regarding the Electric Sugar Refining oompa ny has been increased by alarming cable. grams. The local holding of stock is stated to be e20,000. One of the principal stock
 holders has departed for America to inquire