Evening capital. (Annapolis, Md.) 1884-1910, 1889-01-07
THE SUGAR SWINDLE.
A Report That It's Perpetrator Is
Still Alive.
He WAS A FALSE FRIEND.
Wall Street Greatly Excited Over the At
fair-New aud Interesting Develop
ments-A Clerk Tells of Friends
Alleged Funeral.


NEW YoRK, JAN ITO say that Wall
street was excited over the gigantic sugar
refining swindle would be putting it very
mildly. The shrewd members of the various
exchanges winked significantly when the
name of Professor Friend was mentioned,
and more than one openly expressed the
opinion that when the matter was thoroughly
sifted others beside the willy electrician would
be found to have come out winners from the
audacious fraud
Early in the day the Office of the Electric
Sugar Refining company at No go Wall
street was beseiged by anxious inquirers.
Among them were n few holders of the
company stocks, while others were attracted
by simply curiosity to see what kind of an
establishment it was
Mr. j. w Robertson, secretary and treas
urer, aud Lawson n. Fuller were there
ready to answer questions and tell what they
knew about electric sugar. Mr.. Robertson
was very busy examining books and sending
off cablegrams to anxious Englishmen, while
Mr.. Fuller stood near barrel of the snow
flaken and poadered over the saccharine
contents
"WelI, Mr.. Fuller, how do you feel to-
daygn was asked.
''Well, don't feel so very bad. The fact
is, the case is not altogether hopeless. Al
though / believe Professor Friend wilfuliy
deceived us as to the process of refining raw
sugar by electricity, he has at the same time
reported some very valuable information.
The sugar which he pretended was the pro-
duct of his secret process is really phenom-
email standard of purity IL is way above the
best A sugar ever produced, and worth fully
one cent pound more than any sugar ever
saw Whether it was evolved from raw or
refined sugar is now matter of little inn
portance. What we want to know is how he
did it, If his wife will reveal this secret the
Electric Sugar Refining company stock may
yet turn out valuable security"
Gas il stands now, who are the principal
losers by Professor Friends frauds"
s'Oh. the British holders. When the COM
panv was formed the French interest got
600 of the 10000 shares, and 1000 shares
were to remain in the company. Robertson
and Cotterill, the secretary and president re-
spectively, were given 5000 shares for which
they were not charged.
''It was with the proviso, however, that
they were to float their shares at the best
possible figure and out of the sum realized
pay the expense of the plant, which included
the factory in South Brooklyn, machinery
and all incidental expenditures.
ain the matter of disposng of these 5000
shares Cotterill and Robertson were given
liberal latitude. They were only compelled
to get enough money tof them to start the
thing again. Whatever shares were left after
that. it was agreed they could dispose OF to
investors at par.
The first ten shares they sold to the Liver
poor Refining Company at $500, and others
brought as high as 1888. just exactly what
was realized ON the shares nobody knows. 1
| think it must have been full half million.
| According to Robertson's statement the COM
pany spent about $4,000 as follows: Paid
| to Friend for machinery, $lS0,090; for build
/ ing, $40, 600; for contingencies, including raw
sugar, counsel fees, etc, $4,000. This left
surplus in the hands of Messrs. Robertson
and Cotterill Of $is0,00D l don't know
where that is now"
Mr. Robertson said that he had never re-
ceiyed any vouchers from Friend for the
money paid to him.
Edward Burney, of /, 40 Lexington avenue,
confidential clerk of the Electric Sugar Re
fining company, tells weird story about the
sudden disappearance Of Friend
He advances the startling theory that the
fraudulent chemist is still alive and enjoy ing
the fruits of his bold scheme. On March 8
he says he heard of the illness of Friend.
He called at his house, 227 East Sixtieth
street, and was informed that Friend was
suffering from too much brandy. The next
day he heard that the chemist was worse,
and again called This time Mrs. Friend told
him that her husband had been given up by
DIR. Crosby. On Nov . Burney called again,
and learned that Friend was dead.
Three DAYS afterward, while the body was
still supposed to be in the house, an auc-
tioneer's flag was put out and the furniture
of the house sold.
An hour after the close Of the sale, Burney
says, sleigh drove up to the house and q
common deal box, the shape OF coffin was
taken out and placed on a sleigh.
Three men entered the sleigh, three Of them
sitting astrde of the box and making signs
and laughing Barney was told that the body
was buried in Trinity churchyard, but made
inquiries and fonnd that no burial under that
name had been made there.