The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1892-03-18
THE GREAT SUGAR DEAL.
Philadelphia Sugar Refneries Abb
sorbed-Will Prices Go Up?
Special to the jersey City Ne,cs.

PHILADELPHIA, March IS, 1S92.-Speak-
ing of the absorption of the Philadelphia
Sugar Refineries by the New Jersey
Sugar Trust. prominent gentleman
who owns large interests in sugar plants
said this morning.
"While the big deal is practically made,
there have been no transfers or exchange
of stock yet, but they will be made in n
short time, no doubt. The refneries Will
not be sold outright to the trust, nor will
any Of them be closed down, for the rea-
son that these in Philadelphia are said to
be the best managed and hnest located IN
the country, and l believe they are. The
mode of absorption is this;-Each plant
will be properly appraised at so much,
and the price agreed upon will be paid in
certificates of the American Sugar Re-
filming Company TO the owners of their
plants.
"Each firm then becomes member of
the trust, with voting power according to
the number of shares of stock they hold.
But Just how much each refinery is worth
in the eyes of the trust, is hard, at this
time, to state, but expect we will know
in short time.
WANT ALL OR NONE.
'tIt was said by a member of the trust
quite awhile ago that if that corporation
could not get all the ref1neries 1T would
not take any. Now since these late adj
vances have been made and the additional
stock issued, presumably for the purpose
of making comprehensive deals, it is safe
to say that all the plans of the trust have
matured, and that Spreckels' will be with
the others. as has been reported"
Sugar stocks were very active yesterday
with a strong upward tendency and
American Sugar Refining Company's
certificates advanced from 90 1-2 to 95,
with plenty of heavy buying.
E. s. Knight was to have gone over to
New York yesterday to confer with the
sugar magnates there, but he was unable
to getaway owing to a pressure of bus
iuess. He may, however, go over today.
The consummation of the sugar deal
has disconcerted number of the smaller
brokers and a few OF the larger ones who
deal in that article, 1t has been the prac-
tice of the Sugar Trust to cut off all the
small brokers and centralize their bust
ness as much as possible among as few
persons as possible.
A BROKER TALKS
"The few" said II well known broker,
shave nice thing of the arrangement,
and | understand that the local reflners
have been doing business in the same line.
In fact, the refineries here have been run
for several weeks as though they were in
control of the trust. A friend of mine
went to the Franklin the other day and
wanted a line of samples, but he did not
get them. He was told that no more
samples would be given out.
"Wall, if this becomes general it will
knock the little brokers entirely out of
the business, in that line, at least"
Another broker said:-"The public need
have no fear of the trust putting up
prices. The moment 1t does so way will
be opened for the foreign retineries to-
come in, because the tariff bill keeps the
price where the consumer can get at it.
and to ward off competition the price
must be kept where 1t is or the Sugar
Trust will defe its own ends"