Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-03-24
A SWEET SUBJECT.
The Sugar Trust Inquiry-Mr. Havemeyer
isan "Intelligent" witness

NEw YORK, March 23-Mr. Theodore
[ Havemcyer was on the witness stand
to-day before the State Senate law com
mittee. or the committee only Sena
tors Irwin and Vedder were present
tie was asked 90 give a full and franS
account in his own way Of the condition
under which the SO-called trust was
formed. Witness said that in 1883,
when his Brooklyn factory was burned
down, he did not think il safe to re-
build In this country on accoun;
Iof possible changes in the
tariff After some consideration,
/ however. he did rebuild at cost OF
/ =. 900, 900 in eighteen months. These
months of mental labor connected with
| the rebuilding nearly cost witness his
I live, aud he was forced % 90 TO Europe
I Tor two years 20 rccuperate. I'VE did
not capitalize the company at its full
value" said witness, "aS this would
I have placed uS az disadvantage as to
competitors who were not forced 70 pay
the taxes. hut we were. The capital
was put no $500. 900. After consultation
with my brother, we decided to submit
our interest and stock 20 the trustees Of
The sugar rehnerS company, and we re-
ceIyed therefor "A certain amount Of
sugar rcfner certificates Of stock"
senator Nedder What did you re-
ceivo for your iuterestS?"
Witness said he considered that per
Sonal matter, which he could not an
swer
Q'-l understand you 20 say that you
placed the S5oo,O00 capitalized stock
with tho truSt2
Al 90 not understand the question.
Q-At how much did you place the
value OF the plants, etc, when you
Joined the truste
A. -lr would be difficult 20 say.
would, TO I could, tell you what re-
cclyed for it The plan; represented the
experience of generations and a private
patent process. the value OF which 10
would bc utterly vain 10 attempt TO eSti
mate.
Q.-Can yoU not place value on il?
A.-Wcli say about $4,000. 00O without
considering the good viii. The witness
then reviewed the history OF the firm.
Senator IrWin-Now will you tell us
Mr. Havemeyer, what your reasons were
for joining an these other companies?
The witness heSitated aud finally said:
Il wanted 90 put the other organizations
ou the same fo0-iug with uS. We were
able to refine sugar ten cents 3hundred
cheaper than they could We had been
repeatedly accused OF controlling
monopoly. These people lahored under
the suppoSitiou that We were conduct
irg cur business illegally. j had 20 90
t0 Washington. and had hard fight
90 convince -1em ot tho true state of
affairs
Nr. Hlvemcyer repeated. continually
that no was anxious 20 give the COM
mittce the fullest information in his
power. aud the testimony given was as
near as Senator Irwin could get him to
como 90 his real reasons for Joining the
trust. lu fact. he left 10 To be inferred
that tho reason which mainly governed
him was thc general welfare of the pub
lie. Hr was asked number Of cues
lions as t0 the process and methods in
usc by the Havcmeycr>, which had en-
abled them 90 refine sugar cheaply. His
chief objection to making these and
other private matters" public was, that
competitors and the public would ben
eft without any right by the years Of
labor. experience and money, which
had been expended in the evolution OF
these processes. The investigation was
ad iourued until Saturday next at two
O'Clock.