The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-03-26
THE DOCUMENTS IN THE CASE.


The following are the papers re
lating to the organization Of the
company commonly known as the
"sugar trust" to which we made
brief reference a few days since. A
careful study of these, together with
Prof. Dwight's argument for, and
Judge Barrett's decision against the
legal standing of the "trust" ar
rangement, will enable those fami-
liar with business affairs and com
mercial organization, to obtain
more intelligent understanding Of
the merits of the questions now at
issue in the New York and Cali
fornia courts, than could be got
from any amount of generalized
trust apologetics on the one hand, or
of anti trust invective on the other.
DEED.
THE SUGAR REFINERiEs COMPANY.
The undersigned, namely:
Havemeyers IL Elder, The DeCastrO
and Bonner Sugar Refining Company,
+. .. Matthiessen x Weichers' Sugar
Refining Company, Havemeyer Sugar
Refining Company, Brooklyn Sugar Re
filming Company, the firm Of Dick IL
Meyer, the firm OF Moller, Sierck Il Com
pany, North River Sugar Refining Com
pany, the firm of Oxnard Brothers, the
Standard Sugar Refinery, the Bay State
Sugar Refinery, the Boston Sugar Rein
ing Company, the Continental Sugar Re-
hnery and the Revere Sugar Refinery,
Tor the purpose of forming the board
hereinafter provided for and for other
purposes hereinafter set forth, enter into
the following agreement:
NAME.
The board herein provided for shall be
designated by the name OF The Sugar
Retineries Company.
OBJECTS.
The objects of this agreement are:
l. To promote economy of admins
tratiOn and to reduce the cost of refining,
thus enabling the price of sugar to be
kept as low as is consistent with rea-
sOnable profit.
?. 10 give to each refinery the benefit
of all appliances and processes known or
used by the others, and useful to i'm
prove the quality and diminish the cost
of refined sugar.
3. To furnish protection against unlaw-
full combinations of labor.
1. To protect against inducements to
lower the standard of refined sugars.
3. Generally to promote the interests
OF the parties hereto in all lawful and
suitable ways.
BOARD.
The parties hereto who are not corpor-
ations shall become such before this
deed takes effect.
Each corporation subscribing hereto
agrees and the parties hereto who are
not corporations agree as to the CORPORA
tious which they are to form, that all the
shares of the capital stock of all such
corporations shall be transferred to a
board consisting of eleven persons which
may be increased to thirteen by vote OF
the majority OF the members of the entire
board, the two additional members to
belong respectively to the first and
second classes hereinafter provided for.
Any member OF the board NAV be re-
moved by vote OF two-thirds of the mem
bers of the entire board, in case of inca
pacity or neglect, or refusal to serve.
Any member may resign by filing
written notice of his resignation with the
secretary of said board.
Vacancies during the term of Office OF
members shall be filled by appointment,
by vote of the majority of the members
OF the entire board
n member appointed to fill a vacancy
shall hold office until the expiration 6f
the term OF the member in whose place
he IS appointed, which new appointee
shall succeed to all the rights, duties and
obligations of his predecessor under this /
deed.
Vacancies by expiration of Office shall
be filled ut the annual meeting of the /
holders OF certificates herein provided
for, or ut such other times as shall be .
prescribed by the board.
Such annual meetings shall be held in (
the city of New York in the month of .
June, and notice shall be given TO each .
certificate holder of record of evnr,.
meeting OF certificate holders, by mailing
TO him at least seven DAYS before said .
meeting, notice of the time, place aud .
objects of such meeting. Holders of
certificates shall vote according to the
number OF shares for which they hold .
certificates. They may vote by proxy.
Inc board may make bylaws All /
arrangements for meetings. elections
and all details not herein specifically
provided for, shall be made by the board .
y memoerot the board may act by proxy
Tor any other member with like effect As
II he were present and acting.
a majority OF the members O. the
board shall constitute quorum for the
transaction OF business. The action of =
board meeting, by a majority vote of
such meeting, shall have the same effect
as the unanimous action of the board.
except rs herein otherwise provided, and
that 10 authorize the appropriation OF
money, bonds or shares, shall REQUIRE 4
the assent either written or expressed bv
vote, at board meeting, of at least 4
majority OF the members vi the entire
board.
No member of the beard shall, during