The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1889-08-03

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: tion to be formed by the spectators
and some of the Standard peopl
were among its managers, if the,
we're not its engineers. 1t was
: very natural step from the petroleum
to the cotton oil trust, but, not being
necessary of life, it has impressed
people more as Wall street specu
lative movement than anything NOR,
serious. This, however, is not thu
case with sugar, of which we requir,
nearly third of the worlds pro
duct, and the consumption is fifty
pounds year per capita. Wher
the sugar trust was formed, there
fore, it became directly matter O
concern to every household, and thu
rise in the price of the commodity
which has followed the combination
was felt in every family, exciting
public feeling to the point where
Legislatures and courts were invok
ed to uncover and, if possible, tc
suppress the monopoly. The plar
of organization agreed to in 1881
required the transfer of the stock Of
all the separate refinery corporations
to eleven trustees, who in turn re-
ceived their quota of the $50,000,0 0C
certificates issued by the trust
leaving fifteen per cent of the
shares thus allotted with the
board to acquire other rein
cries. Each corporation in the
trust preserves as before its identity
and separate management, but the
board, as the common and exclusive
stockholders of them all, elect their
directors and receive all the divi-
dends, out of which in turn they de-
clare and pay dividends on the trust
certificates. There were sixteen re-
fineries originally in this alliance,
headed by the Havemyer & Elder
concern in New York, and including
refineries in Boston, st. Louis, New
Orleans and Portland, Maine. 1t
has been only within the past few
days that the st. Joseph, Mo re-
finery was reported to have been alb
sorbed in the trust. Five of the
original sixteen refineries were al
most Immediately closed, three of
them in New York and two in Bos-
ton. Various excuses were alleged
for this prompt diminution of pro-
duction, but, as Mr.. Wilson shows, it
is hard to explain why the only
shutting down in the country was
among trust refneries, which, as a
whole, produced two-t thirds of the
refined sugar in the country. An
other immediate result was an in
crease in the cost to the consumer,
which has gone on steadily to in
crease each year since. In 1887 the
price of SO test centrifugal sugar in
New York was 5 SIG cents; in 1888
it was cents for the same grade,
and at noon yesterday the quotation
was s. cents. So also for graduated
sugar the price in 1887 was 81, in
1888 it was e, and yesterday it was
81. This is an increase of 3 l-16 for
the one grade and 81 for the other,
implying vast profits when the ag-
gregate consumption is considered.
The attempt is made to account for
the rise by the difference in stock,
the total last year being 944,616
tons, and this year 664, 044 tons. Mr.
Wilson shows that in three months
after the combination the difference
between raw and refined sugars had
become more than two cents pound,
or one half cent more than before the
formation of the trust, "for which
there can be no explanation. except
the power of the trust to increase
the price of its product to the con-
sumner, especially when the govern
ment stands guard to keep away all
outside relief that cannot leap over
high protective tariff wall" An
increase of half cent pound on
two thousand million pounds, the
aggregate refined product of the
trust, would give an added profit of
$10,000,000, which is 20 per cent. on
the certificate capital of the sugar
trust The advance in the two
grades of sugar for which we have
made comparison above,implies vast
profits, which is further evidenced
by the rise in certificates from $79
to 1926, and by the published finan-
cial statements of the concern, show
ing that the surplus in the treasury
last year was ten millions and the
profits the first six months this year
were thirteen millions. The show
ing made by the writer for the two
trusts-petroleum and sugar-war-
rant the conclusion that it is mo
wonder the other industries of the
country are rushing pell NELL for this
new invention, which in a single
year showers upon those who can
skillfully and effectively use it riches
not only greater than the ordinary
profits of legitimate industry, but
even beyond the wild dreams of
speculative adventure"
Deafness Can't be Cured
by local application, as they cannot
reach the diseased portion of the ear.