The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1892-04-09

trifugal, 60 degrees, 50 cents; gran
ulated, AZ cents.
Locally the market is quiet. The
facts about the absorption of Spree
kels' Philadelphia refinery by the
Trust are given in detail else
where.
SpreckeIs Sells Ont.
Claus Spreckels has sold his
Philadelphia refinery to the Sugar
Trust. The official transfer was
made on the Goth of March, Mr..
Spreckels receiving 100000 in
Trust certificates for his refinery as
well as some cash. E. G. Knight
has also sold out to the Trust.
Ever since the reorganization of
the Sugar Trust more than year
ago it has been making tremen-
dous efforts to carry out its ORR
ginal plan of consolidating all the
sugar interests of the country under
one head. 1t has at last succeeded.
With the absorption of Spreckels'
interests the last and most power
full enemy of the Trust is wiped
out. Now it stands forth, since the
disintegration Of the Standard Oil
Company,as the most powerful and
perfectly organized trust in the
country.
Until within a very short time
the Franklin Sugar Refinery of
Philadelphia united with the
Spreckels interests in fighting the
Trust. The Trust completed nego-
tiations for the absorption of the
Franklin refinery on March 18th,
and few days later the papers
were passed. This refinery is
looked upon as being one of the
best equipped in the world. 1t has
lately been operated by a stock
company which was chartered in
1890. 1t is practically owned by
the two sons and the son-in-law of
George L. Harrison, who was the
head of the firm of Harrison, Have
meyer & Co. The capacity of the
refinery is 10000 barrels day.
The capital stock was 100000,
and the profits were variously
estimated at from $2,00O,OOO to
$3,50O,000 year.
The absorption of the Franklin
refinery left only Claus Spreckels'
interests, and now this has been
swallowed by the great Trust.
Spreckels has refneries in Phila-
delphia and San Francisco. 1t is
claimed that the Philadelphia
refneries can be operated more
cheaply than those elsewhere,
principally on account of the fresh
ness of the water of the Delaware
River,
The absorption of the Spreckels
refneries is the browning achieve
ment of the Trust which went into
operation on August 10, 1887
Then it included sixteen refneries
and it was stipulated that the
shares, in all, should not exceed
$50000,00O. The deed of trust
provided that the individual hold.
ers of shares of each corporation
should exchange them for Trust
certificates at a rate to be ascer.
tanned by the appraisement of each
refinery. These certificates of the
Trust were issued by a centra
board of trustees named in the
deed. The owners of the stock II
each refinery surrendered Their
shares, and received in return
Trust certificates in proportion.
Mr.. Spreckels himself left Pila
delphia on the 28th, and will sool
be in San Francisco. He retains
absolute control of the Western
Sugar Refinery Co., and is said t.
have come to an agreement will
the Trust as to territory. Thel
will not invade his territory at all
It is said that from this tim,
Mr.. Spreckels will practically b.
out of business, depending upor
Messrs. J. D. and A. B. Spreckel
to attend to his affairs. He is ex
pected to go to Honolulu on tn
next steamer, and will remain
there some time for his health.
Speaking of the transfer, Mr. J
D. Spreckels says; "This will no
affect our interests on this coast
These are not included in an,
transfer that may have been made
Indeed, the Philadelphia work
were built out of the surplu
earnings of the California Re
finery. We are holding the field
We have closed the American Re
fnery, and by our venture in tn
East carried the war into the cam
of the enemy. In the meantim
we have encouraged the sugar bee
industry, and it is now largely cor
trolled by us. We hope to exten
that alb over the Coast, and al
quite content to give up our Eas
ern interests"
The sale has already given ris
to political move on the part {
the Democrats.
Behrine Sea Season.
We have lately been having