The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1894-10-10

| sugar trust Ia consideration of 5000
600 in stock
For the property of Harrison, Fra
zier & Co. of Philadelphia the New
York agent first offered $4,000. .OOo.
ana when this was rejected was auth
orlzed by his principals TO raise the
| Dld 10 SlO,OO0,0OO, to be paid half in
cash and half in stock at the end of
| twelve months. He did proffer
Ss,O00,OOO, with probabilities of ac-
ceptanee- His employer, on receiv-
Ing the report, was so much pleased
| with II, inasmucb as il left margin
OF 81, 100000 for other negotiations.
| that he promised the commission OF
= per cent, or $3.50, 900, on the entire
| SIC, 600, 900 that Mr.. Leonard was en-
powered to bid. He also further
agreed-as is stated in the sworn testi-
mony on records of the Supreme
Court-to pay q per cent. commits
sion to Mr. Leonard on any or al of
these properties which should be ae-
qulred by himself, or himself and as
| soclates, or by their SUCCESSORS in the
Sugar Trust. But il was not deemed
wise by the Trust magnate and his
associates TO close the bargain until
| Claus Spreckels should decide whether
| he would or would not accept an
| offer, first of five, and then of six mil
| lion dollars in cash for his Philadel-
phia and San Francisco refineries.
WANTED TO FIGHT.
The latter offer was made to one of
his sons on the 9Th of December.
Meanwhile, TO make assurance doubly
sure, the New York agent was given
the option of raising his bid to S7.OOO.-
600, which he did December p, 1883.
But all offers were refused by the
great Hawaiian antagonist. who
avowed his fixed resolve a'to fight the
Trust and down it" for interfering
with his California business. Finding
that Mr.. Spreckels would not listen
TO the voice of the charmer, Mr.. Math-
lessen and his associates, about the
middle of December, 1889, resolved to
sell q controlling interest in the Su-
gar Trust to an English syndicate,
organized by the Barring Brothers,
for S25, ,000, ,000-the price of certificates
then ranging about 60-and employed
Fox, Leonard Il Co. to accomplish the
sale. The profits of the trust in the
year 1889, on the sale of more than a
million of refined sugar, were about
twenty per cent. on the capitalization
of $50,o00,000. Ten per cent. was paid
out in dividends, and the remainder
added to the surplus.
In February, 1890, Mr.. Mathiessen
and friends held control of SOC. 900 ont
of the 10000 shares, and for reasons
satisfactory to themselves dropped the
English negotiations which had been
carried on by Fox, Leonard & Co.
The Baltimore Sugar Refining Com
pany's property was acquired by the
Sugar Trust after 1890, and Mr.. John
r.. Searles claims the credit OF having
effected the final arrangements for the
transfer of the Spreckels properties TO
a o. no. fNNN fx-A
1892, for the sum of $4,000, 900, with
Adolph B., son of Claus Spreckels,
who consented to the bargain because
cooper shop connected with the
Philadelphia establishment burned
down. Through the same instrument
tality the concern of Is. c. knight a
Co. was finally secured, while through
the agency of John +. Parsons the
plant, with the addition of an old
of Harrison, Frazier & Co.
was made over to the colossal corpo-
ration in consideration of the payment
in some shape of between nine and
ten million dollars.
The Delaware Sugar-Refinino Com
pany's property was also absorbed,
and one half interest in the Western
Sugar Refining Company's plant ac-
quired. In consequence of these ac-
cessions, on which commissions to
the extent of 100000 are said to have
been paid, the capital stock of the
American Sugar Refining COMPANY
was raised to $4,000, oO0-of which
half is composed OF preferred and half
of common stock-suhjpct TO the first
lien of $4,000, 900 in bonds.
OTHER REFINERIEs.
As yet the American Sugar Rein
nP Company Is not tue only one in
he United States The Yonkers Su-
gar Refining Company, a sugar ryefin-
ng company i'm Chicago, and that of
Nash, Spaulding & Co, Boston. and
possibly others, hinder it from com
pletely monopolizing its special busi-
ness in this country. And wisely too.
80 far as they are concerned. One
member of the Boston firm stated that
ts plant was worth $250o00 I'm 1856.
On October :, 1889, the same gentle
nan said that his firm had netted
100000 profit i'm 1SSS; that il pai6
hem to be independent OF the Snrar
Trust; that the combination might
make the prices and his firm would
,ave the profits; and that said firm
vas making ten per cent. per annum
IN possible capitalization OF 5000
'00 of its $3.50, 900 property. Part OF
lis own share Of the avails was inVes-
ed at the time in certificates OF the
Sugar 1'sust
The GroSsbersoqC OF the American
ugar-Retining Company are multi
but do not object to indefi-
lite increase of the number OF millions
hat each possesses. To promote the
growth Of enormous fortunes they SOW
literally beside oil waters Denlocra-
ic or Republican, local. state or ma
ional-and also reap literally. In
20 political parties their
,olitics themselves being authorities
are unchangeably those OF the Su-
.ar Ttust--i. e, such as will foster the
,rowth, wealth, power and profits of
he American sugar Refining Com
'any. Their business, iudiciouslV
managed, has always been iucratiVe,
nd, Judging from the opuleuce "