Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1891-01-28
Now Name for am 0ld. TRUST.

new name f0r an Olu Irubt
The American Sugar Refining COM
pany is the Jew name for the Sugar
Trust. 1t is the same old monopoly
under a new style. II seems just now
to be the victorious trust militant, and
to all appearances the people have no
remedy at law against this sort of mo-
nopoly organization. 1t has indeed
been ascertained that in the State of
New York at least corporation can
not merge itself in trust and cease
to exercise its functions as separate
corporation without laying itself liza
BILE to forfeiture of its charter and its
rights as corporate person. But it
seems also to have been ascertained
that corporation can cease to be
corporate person and become absorb
ed by new corporation in nearly
every respect as offensive as trust,
and take all its effects with it.
What the shrewd spectators on
the New York Stock Exchange think
of the American Sugar Refining COM
pany may be learned from the fact
that sugar certificates advanced near
ly 123 points, or over 81 per cent. in
a week. That fact signifies that in
the opinion of spectators the new
company is quite as capable of mo-
nopolizing the sugar refining business
as the trust was, and that at the same
time it satisfies the technical require
ments of law, and can set at defiance
all attempts to deprive it of its power
as a monopoly by legal proceedings.
While this is discouraging to those
who have hoped to be able to break
up monopoly organizations under ex-
listing laws through the agency of the
courts, it need not be discouraging to
those who seek to accomplish the same
object by ceasing to create monopolies
or to offer an inducement to their cre-
alton by act of Congress. Indeed, it
serves to strengthen the position of
those who do not see the wisdom of
attempting to exterminate wolves with
willow switches, while carefully pro-
tecting their breeding places.
The Mckinley bill protects the SUI
gar Trust, or its youngest offspring,
the Sugar Refining company, by
duty of half cent per pound on i'm
ported refined sugar. Half a cent
per pound looks small. but it means
more than $15,0O0,O0O a year on the
refined sugar consumed in this coun-
try, and that is enough to pay the
cost of good deal of litigation. and
have a snug sum to divide afterward.
Under the old law allowing draw
back on exported refined sugars equal
to the duty paid on the imported raw
sugars, less 10 per cent, our refnes were
able to export sugar and sell it in
England in competition with the
bountied sugars of Germany. In
1885 they exported something over
100000 pounds under that law,
which allowed them drawback 10
per cent. less than the duties actually
paid by them. That would seem to
prove pretty conclusively that when
they get their raw sugars free, they
can hold the American market with
out any protection whatever. 1t
would seem to prove that the duty is
a pure gratuity, enabling the refners
to extort at least $15,00O,000 a year
more than a fair price for their pro-
duct. If it did not do that they would
have no motive to enter into a combi-
nation to stop competition among
themselves. The conclusion is obvi-
Gus that the way to put an end to the
is to withdraw the motive
which supports it. And the same is
true with respect to nine.tenths of the
combinations in this coun-
Herald.