The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1889-02-07


stocl, in the American Refinery
Company. gave up their property .
voluntarily to the Trust. 1t is now
held and owned by few persons as |
so-called officers OF the Trust They ,
have no position in law and there is
nothing whatever to prevent them
from disposing of the property and
putting the proceeds in their pock-
cts. Mr.. Theodore llavcmeyer has
gone to Europe. Mr. Scarlcs, who
is notorious schcmer has hCapcd
more abuse upon Hawaii and lla-
waiiams than any other man living
The third leader in the Trust
Affairs is lawyer Parsons who has
been so ANONYMOUSLY defeated in
the recent suit. If his business
management of the Trust be on
par with his legal management,
then those who hold Trust stock are,
indeed, in a sorry plight. 1t is al
most beyond comprehension how
men in their sane senses could give
up the tangible for the intangible,
their valuable property for worthless
paper, for there is not n soul to be
found who will touch Trust stock
with pair of tongs, although it is
being peddled for sale all over the
United States.
Next take the case of the plan
ters, the bone and sinew of the
Islands, the producers of the main
product. What is their position to-
day! They have contract for the
sale of their sugar to the Trust, an
illegal concern which has already
cheated them out of their just dues
by manipulating the market quota
tions in New York, and causing un-
reliable and dishonest figures to be
sent to Messrs. Williams, DimOnd
x Co., upon whose monthly circu-
lars the planters rely for accuracy
of information on sugar matters.
Having been robbed of thousands of
dollars already, and with no means of
redress, the planters are thus bound
for several years TO come. They
have not the American Refinery and
men they know to deal with, but an
irresponsible set who will stick at
nothing.
The American Refinery will most
assuredly lose its charter within a
few months. The laws of incorpor-
alton are even more strict in Cali
fornia than in the State of New
York, and these laws have been
violated by the American Refinery
stockholders. Their property will
be placed in the hands of a receiver
but the company will forever be en-
Joined from uansacting business.
Who will repay the stock holders
the money they have invested
What will they realize upon theil
Trust certificates? These are not
the only grave questions that face
lIawaiians, but there is yet the moro
important one. What will they dc
with their sugar? The American
Refinery with its closed doors will
be as if it had never existed. Car
goes of sugar will be coming for
ward with no refinery to use it, anC
no purchaser to pay for it. What
will become of the staple product OF
the Hawaiian Islands, and what vii
become Of its producers! No money
and no market for either.
, The dishonesty of the Trust will
) shortly be exposed through the
: frauds in the department of the Ap
| praiser at New York. There th
: chief importer of sugar is the Trust
' and the Secretary of the Treasury
| is in possession of information
c showing that gigantic swindles hav
been perpetrated in the importatio
i of sugar at New York. The suga
e has been undervalued, resulting i
S loss of customs duties amountin
5 to millions of dollars from thi
It source alone. All of the prominen
9 officials in the sugar branch Of tn
Appraisers office have been prompt
!, ly dismissed, and it is very evider
d that the fraud attempted by til
II Trust in San Francisco with the
h Java sugar was but n cOntinuatio
). of the frauds that have been MOI
+, successfully carried out in Ne
n York for years past, and by whic
: the Trust of late and the indiyidut
$ refners formerly have robbed I'll
: revenue of millions of dollars. Tn
y fact is merely stated to give Hawa
l. ians an idea of the character Of IL
s men to whom theV have hound then