The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1889-10-19
l1HB SUGAR TRUST.
Recent Gamble in Trust Ger.
tiaCatGS,
A Bold Cor Fl lence
Game.
HaWaii'S Vital Interests MOnaCed.
SAN FRANcisco, Oct. 10.

Inc sugar lruSJ 10 making naru
fight against approaching dissolu-
ten, but Eastern papers of influence
concur in the opinion that the COM
bination must be broken up. Its in
fluence, however, is far reaching,
and both in San Francisco and New
York it has apparently sufficient
"pull" upon the Courts to prevent
any decision being reached in the
actions brought by the people to
cancel the franchises of certain STU
gar refining corporations which join
ed the trust. These are test cases
and if decided, as they should be,
in the interest Of the people, the
Sugar Trust would necessarily fall
to pieces. 1t is one of the most
threatening features of the Sugar
Trust, however, that it can appar-
emily corruptly Influence the Courts
without attracting public attention
or causing popular cutlery against
its methods. The Sugar Trust first
skins the people by putting an arti-
fetal price upon necessity Of life,
and it next bars them legal redress
by manipulating the Courts. The
Sugar Trust stands at present as the
great corruptionist machine in the
United States, having supplanted
the railroads, but it will ultimately
be destroyed.
1t is notorious that the Sugar
Trust managers who are on the in.
side have been raking IN millions Of
dollars by manipulating the New
York stock market where its certiti-
Gates have been listed. Indeed, the
listing of these certificates is prima
facie evidence of an attempt TO cinch
the outside public by manipulating
the stock market. This is evident
from the fact that the Sugar Trust
is not Incorporated, has no legal
existence, keeps no records Of its
meetings, and is in short playing q
confidence game on colossal scale.
Its victims are without redress, and
reputable brokers of New York have
warned their clients not to touch
sugar certificates. This statement
has been made by nearly all promi-
nent New York newspapers.
Last June these certificates sold
at 1877, having been doomed by the
inside manipulators, who kept quiet
ly unloading on the public. When
the time came for squeezing weak
holders the screw was turned, and
on Sept. 28th, sugar certificates sold
down to 81. Having thus squeezed
a good deal of water out of the GER
tificates, and concentrated them
again in the hands of the manipu-
lators, strenuous efforts is being
made to bull them again.
"All hands to the pumps" was
the cry on Saturday by the Sugar
Trust manipulators (remarks Wall
street Daily News, Sept. 30th) land
if they hadn't jumped to the rescue
it would be hard 10 say just how
low the certificates would have gone.
AS it was, good buying orders were
given oat, and the certificates were
closed at 904 after selling down to
S79. Higher prices are promised"
In accordance with the foregoing
programme MIR. Searle, manager of
the Sugar Trust, emerged from his
seclusion, where he had kept him
self aloof from sinful spectators, as
devout Sunday school superin-
tendent should do, so that he might
be able to make a plausible denial
of participation in the certificate
deal on Wall street. This was fol-
lowing the biblical injunction SO
familiar to his mind, to be as wise
as serpent, but the knowledge
which Hawaiian sugar planters have
of this Mr.. Searles when fighting
them on the sugar commission
should satisfy them that he was not
as harmless as dove.
No sooner did he show himself on
his old haunts than he WAS pounced
upon by World reporter, but this
saccharine specimen of "oily gam
mon," putting on an air that was
"childlike and bland" proposed to
be ignorant of even hIr. Have
meyers retreat. But he made q
shrewd point of bulling certificates.
81 have only arrived here this morn
ing" he said to World reporter,
"and know nothing of the market
beyond what l have seen in the pa
pers. Where Mr.. Hayemcyer is
do not know. The last l heard OF
him was at Newport. This break
in sugar seems TO me the result Of a
raid by the bears. Sugar certifl.
Gates in my judgment, are worth in.
trinsically more than when they
we're quoted at 1926. We are moi
Wall street operators down here
and know nothing about theil
schemes"
This MAS "too thin" for The
street, where it is understood tina
strong holders have been unloading
Many persons who had been assured
that sugar certificates would toucl
l40, have lost large sums. 9Th,
Sugar Trust people are not phiIan
thropists," said Wall street broke
to World reporter, "and it i
pretty hard to believe that the,
lyna,v rnthinr, about Ali, Tf,k