The Hawaiian gazette., 1889-05-14

meyer IN New York and made the
proposition. Afterward it was car
RED out, everything being done
through John E. Searles, Jr. He
said Searles told him every refinery
in the United States was in the
trust, except Harrison, Fraser & Co.
and E. G. Knight & Co. of Philadel-
phia, 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 few shares, for certi-
fcates of the Sugar Refneries Com
pany. and that he signed the name
of the company to the agreement.
John E. 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 F. 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 would show the profits
of the business was allowed.
The statements made to John E.
Searles Jr. were to the effect that |
the profits from all sources from
january l, 1883, to August l, 1883. |
were $376, 351.56; for August, ST.
1892, and for September, $93, 91642. |
October and November we're fairly |
prosperous, but in December there |
was not 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
for Office expenses: Robert
Oxnard, assistant to the President,
which Attorney Mitchell explained
is another form Of saying that he
the sugar trust, 1925 a
T. W. Zeile, Secretary and
Treasurer, $3.50; Charles W. Brown,
5000; John Jones, book
keeper, S125; Miss Maloney, type
writer, $40; Paul, office boy, $25.
Mr.. j. D. Spreckels testified that
IF the twenty-four sugar refneries
n the United States all but seven
lad been shut down, and that of
hose working three are in the trust
md four are out of it. Those out of
he sugar trust are the California
Sugar Refinery, owned by Claus
5preckels & Co., and the Belvidere,
he Harrison & Fraser and the E. c.
Knight reineries in Philadelphia.
he said the annual consumption of
efned sugar in the United States is
100000 barrels.
Robert Oxnard being recalled said
hat from the time he arrived in this
.ity he acted as assistant to Presi-
lent Welch of the American Sugar
Refinery. He said the Hawaiian
sland sugar planters are interested
n half the profits of the American
sugar Refinery after taking out the {
ost of operations. This is an obi !
,ation that Havemeyers & Elder 7
AVE undertaken as successors to the /
american Sugar Refinery.
Hermann Bendel, one of the stock
lolders of the American Sugar Re
merry before the stock was trans 5
erred to the solid eleven of New q
york city, headed by John E. y
earles, Jr., said he had a conversa-
ion with Mr.. Searles in which he r
,as given to understand that by ex-
hanging his stock for certificates of
ne Sugar Refneries Company he
-ould thereby become interested in
everal refineries instead of one. He
I'D his stock to Searles
Samuel 7. Alexander said he was
n owner OF stock in the American .
Refinery until the stock was a
'ansferred to the Sugar Refneries fl
ompany. he owned 30 shares of o
he stock and got 315 shares of the <
of the Sugar Refneries Q
ompany He sold all of his stock. |
-evertheless, ten shares were left II
.anding in his name to enable him a
act as trustee. As a matter of j.
.ct he did not own these ten shares. b
". W. Montague said he trans
fred all his stock in the American
ugar Refinery to Mr.. Searles.
fter that ten shares were put in his
anne to enable him to act as trus-
e of the corporation. He did not
now where the ten shares of stock
ime from. He did not buy them
I'd never owned them, although
ley stood in his name