The sun., 1891-01-11
NEW SUGAR TRUST FORMED.
~ MAS The SAME PRBsLDBST AND
DIRECTORS As THE OLD.

s,s,,ee Pratt Discharges tse Aeeetyers OF
ana Trust-Ths Directors. Duaean
..ro,, and All Others who ere Direct
y, Ca.eeruea Say They are Sssisaed.
r,,,. was a great gathering OF lawyers IN
.,.snnreme Court. Brooklyn. yesterday,when
". I.snesr Trust cases came up for cousidera-
WV. W. h,ors Justice Pratt. Mr.. stillman OF the
Wv rn Of Butler. Stillman Hubbard intro
.' - In. matter by asking that the Central
~, Company be made party 10 the action
u.,.msyer against the other sugar refining
o..,,es forming the trust He also asked
W.. ,ha ntetlocutory judgment granted some
W. .so BY Justice Pratt be set aside.
ea W. inhn /. Hill, who has been fighting the
h. ,i.orously for months. said that his cli-
n.,ran Cameron and Mr.. Gleason had
em e.,,sd 10 such O course Mr.. Stillmsn inti-
a.a ,h., ~ rer cent. OF the certificate hold
ss, mse rspresen,ed. in all Asa, 900 certificates.
s1s.s,.ed TO tho proposed plan Of reorGani-
'si,, rnoer this REORGANIZATION. Mr.. Hill ex
.,.,..a all fees. expenses, and obligations
sonId bs paid by the receivers appointed.
yn.t,cs Pratt decided the matter without
,r,,hsr delay in the following words:
.Tbts IL smotion made upon petition OF
.ACentrsl Trust Company that that fnstitu-
ao, ,hsl become party 10 this suit: that the
,..,-,o.u,ory Judgment and order appointing
,bs receivers shall be vacated and eet aside
and the property left to be disposed OF by the
trustees.
when tho receivers were appointed in this
natter there was only small majority OF the
.,,.tholdera. 80 far as I recollect, that had
,sken any steps toward reorganization OF
,h. hpsiness. No plan OF reorganization at
N. t,me had been agreed upon. ana since
,ss, date It appears from this petition
,h,. about 9s per cent OF the certificate
hold.rs have agreed upon organization. or
nave formed plan OF reorganisatiop, and they
dssirs that the property shall 10 turned
ossf Owe snI sppear ar that any certificate holders
object 10 this rrssoceedinE; and It does &c
ar a., we're the owners Of tho property. It seems
Ss' rhsn IS se1 as.. Fl ;oo msnsss
AT the time the receivers wore appointed
e tss .nasess n What Known
Jssas sss the .ni e.. 'hs Tine dqiss 'hsS
s1s IN 70 .ssoan ss,s ssaSa ana S
appears the! are have u
counted f6r all the assets that have come into
their hands as trustees and uron AZ these
ise issn fiea representing all the parties to the
suit see no other course open to the court
except to gran; the ,ifan motion; .s t,ow, IN ysw
York steps were taken 70 establish q eompaany
updeI THO laws Of New Jesssy a c6srssT ma MAJ
sts si oes Gsss aleSn HntsSSn sS s IN and
sss trust. i. q. Havsmsyer. 7; A. Havsmssyer.
bicEp ( nts.nIiss 4 Tho%ss and Seorse & Masoan.
met In Taylor's Hotel. aud. carrying out the
% sss sass9 ssT
snsd i.nsd al Ainmeds,eYy IN to ii. new conpans
Sugar snS II Tru%es % were resiec,ed as directors
Of the American Sugar Refining Company.
u. .. HsvemsyeE WAS reelsstsda le,a TRres!nens.
snd anIs ,he same and as the
9; oc the esnsral Tpas, Company that ali hpdsrs
11n a he once Of the trust
shsre and st the same time the dividend OF s5
. share. declared some time ago. would be
paid At the meeting in Jersey CITY this sum n
mary Of the accountants reports issued By
kidder. Peabody Co. was handed out. 1t says:
The original orEanSatio was en- the ba sis
erty and their appliances. including the good
will. In order 70 provide the Ieeesssry Tors Si.
iSs bs Sassni.aion Sapi there have been paid in cash
S eeas. seI eer snasn DOWN to yuly issS: amount.
hand in cash assets and investments above
than ii,500Oo0 Also, with same unimpor-
tans exceptions, the retlners have continued TO
hold their original plants, some have purchased
additional real estate. and extensive additions
ais" been acquired. Tho expenditures. in ad-
SsDi ,b.S .S Dsgs sSSs'd the 'ss' Of plant By
SThs Tsorcanization yesterday. was effected
on .plsp approved by al the directors, Kid
& hs esSaa Co. snd Trrss Tss'Ss T. 0IS ssd
s sr aesD i0f Busf suso soe
ss*.sssf .ss Root 'hssiis sssis
ssp: S ISs {, yin he $40
soef
s ns sas GS4eSsas oP Sal s rss BE
receipts rePressntine, certificates. ,one.Eaii IL
preferred sha.es and ons1hsli IN common
pany receipts for 100 shares tor fractions
thereof In proportion will receive fifty shares
Of the America sugar refining Company
psny common stock, and in addition.
's sso,ds ss1 for al i''1 pos.bs future OsSst sSs
.ito00o0O 81 rate Of interest not to exceed )
e e sssd dstIs oas
4. ''sts0n s.s .1S sA is%ui,Ess SS0RRe91 2,
snovss percent IA oSsh. Il i estimated that the
american sugar Refining Company VIII COM
sssssiIHei ssss;s sSS SSssi vii
30 IN cash and available cash sssetsl, with the
aIs:onA i required All osHfe:sS Soiders
Who desire 10 participate In this plan may
GSspSsi their their, Ssss,iiestss 4 olfe with the
ssivs IN exchange tho Central Trust Company
ifSSeeipss iS lI xhIGh are in sarn exchaRkea6lS ioi
deposit Of certificates Is limited to Dec !. 1890.
Ejddsrn Ehas nRSn OF the ascountants employed by
,As. tho affairs Of the Sugar Trust were Is
AssrrS
Ssa ACKNOWLEDGEMENTS. Sra se7 81
psSn due to tho company on aeoeptAncss
aaa open aeesunts Isae les ~
soehs of sugar oonnGn N ept ....... . l2sS 2oA a
otoeL of sugar and syrup hAnd raw.
cts1nsd And in ,,..,'' Z as2 A,s "a
siceks on hand ot old sad ne " tone black
aha suhary stores 1887 les II
TssuIsSu p .......,......... l,6e4 B32 AZ
A'Ap''u '"AufAoee prsmiumA Ac....... 60 go IS
'0sA'.'.....'...,.. as7 SIS Il