Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-06-02
THE SUGAR INQUIRY.
SENATOR MCPHERSON SAYS HE
BOUGHT SOME SHARES OF STOCK.
Melted si,5O0-,John Dewitt War
ner Testifies.

WASHINGTON, ID. c.. June 1.-The
Senate committee now engaged in an ex-
animation into the alleged statements
that the Sugar Trust interfered in the
construction of the sugar schedule Of the
pending tariff bill, and that various sena-
tors have been speculating In sugar
stock. have become tired of their incf-
fectual efforts to keep their proceedings
secret, and have decided that as fast as
the stcnOgrapher can prepare his copy
they will report Il 10 the Senate and have
IL printed. Much that was concealed from
the press yesterday came to the surface
to-day.
Senator Mcpherson stated to the COM
mittee yesterday that he had purchased
1000 shares Of Sugar certif5ites, but that
he promptly transferred them TO his son.
1t also developed that the Senator pur-
chased a block Of 800 shares. He said that
one evening he and his son were discuss
ing the advisabiity Of investing in some
stocks The Senator denied that he specu-
lated In the sense that the word Is gene
rally used. He bought the certificates
outright, but Of course when their value
increased TO an extent TO Jusuty IL ne
sold the stock for the profit there was In
It. on this occasion he and his son de-
cded that it would be a good thing 10
own more Sugar certificates, and they nc
cordingly wrote out a telegram to the
broker directing him to purchase 800
shares Of Sugar for them. This telegram,
Mr.. Mcpherson said, was laid on the
table. and they proceeded 10 discuss the
matter further. The result was that II
was agreed that II would be improper for
the Senator TO invest In Sugar certificates
inaSmuCh as this matter would be up Tor
LEGISLATION. and it was decided that the
order should not be placed. The telegram
was not however, destroyed. On the con-
trary. it was sent and the stocks were
purchased.
Mr.. Mcpherson told the committee that
the message was found on the table
by one Of his servants and sent the
next morning and that the stock was
purchased without his being aware OF It, |
As soon as he learned Of It, the Senator
ordered II all sold.
MR.. M'PHERSON'S PROFIT.
In response to question regarding the |
profit made, IT is understood that Mr.. |
Mcpherson said he sold 1t without wait |
ing for any rise in the market, but that |
he netted q profit ~ something like $3.50. |
The members Of the committee say !
that the present scope Of the investiga- |
tion concerns the relations of the Trust |
TO the construction Of the sugar schedule, |
but that the alleged speculation by sera- |
tors may be made the subject Of inye5ti- |
cation later on.
Every member Of the Finance Com !
mittee, in giving his testimony, acknow- !
ledged that ne had had interviews with |
both sugar-planters and rchners or their /
representatives. In every case II was |
shown that the planters urged specific |
duties and the rchners and also Mr. Car |
Isle urged al valorem duties. The plan |
tCrs, who wanted specific duties on their |
sugar. were given al val0rcm rates on |
the raw product. The rciners, who |
wanted al valorem rates on the refined |
sugar were given specific rates. II Is |
claimed that the al valJrom rate on the |
raw sugar works 10 the disadvantage Of /
the producers IN this country. while the |
specific duties give the rofner an absolute !
and fixed amount, but not quite what he |
would have had had the { per cent pro- |
position gone through.
u Is probable that from this time on |
the report Of the invcstigatin committee |
win not go to the Senate with such |
as that concerning the recalci- |
trant reporters.
CONGRESSMAN WARNER.
The investigating committee spent more |
tEan an hour to-day examining Congress- |
man John De witt Warner with reference |
to allegations that the Sugar Trust at
tempted TO secure his vote while the tariff
bill was under discussion I'm the House |
Nothing Of this has been given out but
1t Is understood that Mr. Warner practi-
cally admitted the statements made In
the press that when he was making his
fight for free sugar in the House an effort |
was made to cause him 10 desst. Tho
committee euieavOred to get Mr. Warner |
to give the names Of those who We're said |
to have made this statement 10 him,
but he declined. His membership I'm the
other body Of Congress makes him
privileged witness and one who comes be-
fore the committee voluntarily.
Mr.. Castor. the wire manufacturer will
not go before the committee until Tues
day. The committee has adjourned until
Monday next. Mr. Castor IS said to be
the involuntary eavesdropper at the Ar
lingtOn Hotel, whose statements TO GER
tain member Cf the House were repeated
to correspondents Shriycr and Walker
and were published by them