The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-04-21
All. SUGAR IS SWEET


sweet DtvtdeadS.
Wliett & Gray's Sugar Trade Jour
nal Of March says:
''At meeting OF the board Of direct
ors Of the American sugar Refining
Co, held March I. the following were
unanimously adopted:
Whereas. The earnings Of the COM
pany during the past quarter warrant
an increase Of dividend on the common
stock. and
Whereas. Since the annual report OF
the treasurer to stockholders on De-
ccmbcr I, 1892. received from the cor
porations whose stock Is held by this
company flor the year ended March l,
1890 rendered unnecessary for working
capital the further retention OF the SUR
plus earnings of 1891 and 1892, as shown
by the annual report;
RESOLVED. That there be paid quar-
terly dividend OF 3 per cent on the
common stock. and in addition there
be paid an extra dividend OF 10 per
cent on the common stock from the
surplus earnings Of 1891 and 1892, and
that dividend of Ia per cent. be paid
on that portion Of the preferred stock
OF the company which is entitled to
quarterly dividends, all the above divi-
dends being payable on April to
stockholders of record March l3, when
the transfer. books will be closed, to re-
open on April 2.
I'm addition to the above resolution
the statement is authorized that the
company on March /, after providing
,x.l IL hos a Inns NJ
net earnings of 81, 00o. 900 in the treas
ury"
Notwithstanding that more than one
half OF the s75 1000, 900 stock (half COM
mon and half prcfcrred) is water. yet
| the holders Of common stock certifi-
Gates will receive, on April 2, divi-
dend of 10 per cent. with the promise
| of per cent more before the close OF
| the year, besides share in the surplus
earnings (already $1,000, 000) that can,
| and may, increase the dividends Is or
90 per cent more. Dcducting that
part of the profits male in 1891 it is
evident that this giant trust cleared,
| in 1892, after investing tens of millions
| Of dollars in refneries and properties,
| at three times their actual value, about
els. 900. 600. equal to about 33 per cent
on the common and per cent on the
| preferred stock, or 20 per cent on the
whole stock. Taking out the water
the earnings on the actual capital APP
pear to be about 40 per cent But com
mon stock which gets the greater part
| of the profits is earning about about 60
per cent on the actual capital back
Of it.
The holders OF original trust certih'
Gates can step into the office at the end
of each year and draw out two thirds
as much as they put in, without dimir-
ishing the original investment. Isn't
it splendid. and all because Mckinley
gave the trust free raw sugar and a
duty of Il cent per pound on refined
| sugar. As the trust refines over $1,000
600. 900 pounds per year and collects the
full half cent on every pound from the
American people, this duty is worth
over els. 600. 900 year to it This was
an entire gratuity from Mckinley. Big
refiners have stated under cath tina,
sugar can be refined as cheaply here as
anywhere The cost of refining il
about = cent per pound During lS9.
| QranulaLcu sugar Soiu tut dUIut a u
cents more per pound than raw-9d
per cent centrifugal.
II this is not legalized robbery. by
what term shall it be- known? 1t Is no
wonder that Mckinley finds hosts OF
friends in and out of the Home Market
club who are ready to contribute a few
thousand dollars to help him out of his
presen. financial difficulty. They could
afford to buy Central park, build a
magnificent palace in it, and denote Il
all to their tariff benefactor IL Nc
Kinley made bargain with the manu-
facturers (lilSe the Hawaiian sugar
barons have done in regard to sugar
oounties with the Hawaiian planters)
that he should receive one half Of all OF
the protection monopoly profits made
under his bill, he would now be the
wealthiest man in the world and woult
be the first Millionaire. 1t was a shame
that he neglected the people and made
his bill in the interest of trusts: il will
be scandalous IL he now accepts finan
cal assistance from any manufacturer
or representative of monopoly bene
fitted by his tariff bill.
BYRON w. Holt.