The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1890-09-19

supply Of bectb will be mnti1 greater
this season than last, and as a
bounty on the sugar product will be
paid the financial result will neces.
sarily be satisfactory to the Western
Beet Sugar Company which owns the
WatsonviIle factory The Pajaro
Valley railroad is also one of the
Spreckels' enterprises in the devel-
opment of the beet sugar industry.
1t will also be Of great assistance to
farmers in the movement of their
wheat corp. The railroad runs from
Wntsopville 10 Moss Landing, a
good shipping point on the Coast.
The output of beet sugar this season
will be about 1000 tons from Wat
sonville, and the Alvarado factory
product is to be added TO.
There has been partial suspen-
sion of business at San Francisco
Tor several days on account of the
Admission Day festivities. The
festival began on Saturday the 9th
and ended ON the 10Th by excur-
sions on the Bay. The city was
dressed in bunting, citizens generally
entering into the spirit Of celebrat-
ing the fortieth anniversary of the
admission of California into the
Union. The street procession on
the 9th, under the auspices of the
Native sons of the Golden West,
was great success.
The Sugar Trust appears TO drag
in its reorganization policy. The
letter and spirit of the New York
decisions are against the great COM
bine. The New York Court Of APP
, peals, in its last decision says
There can be = no substantial
consultations which avoid and dis
regard the statutory provisions and
restraints; but that manufacturing
corporations must be and remain
several as they were created or are
under the statute This ruling is
fatal to the proposed amalgamatior
of existing corporations to form one
great corporation. The companies
must first disincorporate, and thi!
would involve a heightened, and il
contested, an expensive legal proce
dure. The litigation arising out Of
the friendly suit to dissolve th'
Sugar Trust and distribute its pro
perty is likely to become trouble
some to all concerned. Judge Cul
len, in the New York Supreme
Court, has granted the application
of Receiver Gray, of the Nortl
River Sugar Refining Company. tt
be allowed to come in as defendan
in the Sugar Trust litigation. A
the decision of the New York Cour
of Appeals in the North River Re
fnery case forbids the transfer o
any of the assets of that compan,
it follows that these legal principle
and this mandatory direction Of tn
Court must be nullfied in order Il
carry out the programme of tn
Sugar Trust.
Yet the Trust conspirators, il
aated with their ideas of the omn
potence of wealth, may endeavor
override the law and the mandate {
the Courts, many precedents of I'll
kind being available owing to til
complaisance and cowardice of th
average American citizen when col
tronted with the money power, bt
this fight has ceased TO be loo:
one in which public rights may /
extinguished by the bribing {
judges and corrupting of court
! The Sugar Trust is destined, if
persevers, to be made an examp
of for the instruction of aggregate
capital which may attempt to owe
ride the Courts. Wall Street spec,
lates in Sugar Trust certificates no
> simply as gamble that the none
back of the sugar combine will prov
; too strong for the law. Otherwi'
the certificates have no intrins
value. The trustees admit in the
petition for an order of distribute
and dissolution that they have bee
:, acting illegally all along, and Their
fore that the issue of certiflcat,
!. purporting to be negotiable pap
was a swindle. Several Easter
papers suggest the arrest and pros
. cuIion of the promoters of tn
swindle, but the law which prompt
:, Furnishes burglary and petty larceI
has no mesh small enough appa
emily to catch fifty or fifteen m