The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1894-06-08
SUGAR TRUST DOMINATION.
sIbtsrrsncan Connection Net ween the SEN
ate Chamber aud Wall street How Nisi-
lion. Are Made Rapidly.

.slbtsrr'snsan Connection wsfween the sem
axe Chamber aud Wai street How MIL /
lions Are Made Rapidly.
The sugar trust il capitalized AZ ssj.- |
ooo COO As fully two-third> Of this /
amount H. water. the market price OF
800 worth Of stock should be- about
$50. Owing, however. 10 the monopoly
which controls the refining business
and the many advantages which our
rctners have in supplying our markets
with refined sugar. it i likely that,
even without any protection whatever.
sugar stock might sell a. high a. a. or
80. Trust stock selling at 80 would in
dicate profits Of 10 or II per cent. on
actual capital. The difference between
80 and the actual market price Of sugar
stock represents the beneficial effects
to the trust-of tariff legislation.
! The present selling price being above
100 il j. certain that the owners Of
trust stock expect To make I. or - per
cent. "a year ont Of the sugar duty
which is now promised them by the
senate.
ON January -. when Warmers free
sugar amendment passed the house.
sugar fell from s5is 10 20. The decline
continued until February !. the date
on which the tariff bill passed the
| house. when sugar sold for 15sS I'm
doubtedly the decline would have been
much faster and greater had not the
sugar magnates. in the meantime.
turned their attention 10 the senate
where two or three traitors. ma>luer-
aiding as democrats. held the balance
of power. Negotiations having been
concluded with these democrats for
revenue. whereby they agreed To de-
feat or delay all tariff legislation, by
making sham fight against the in
come tax clause or under cover of spe-
cial demands for local industries tcom-
pensation depending upon the extent
Of the opposition promised the price
Of sugar stock at once began To rise.
ON March 20. the day before the new
tariff bill was reported in the full SEN
ate committee. sugar jumped TO 1874.
The New York World. which believes
that there is a subtcrranean connec-
ton between Wall street and the sen
ate chamber which has been worth
millions TO certain insiders and to
certain senators. SAYS that on this day
March 20l. Senator i;rice was in con-
ference with Mr.. Ilavemeyer,' of the
sugar trust.
The trust did not cease its efforts.
Two more concessions have been made
t. il. In each ease the concession was
heralded bv sudden advances in the
price of stocks several days before the
finance committee had announced pub
Z l..l.. q l,,1.. ba1 haen
modified ON April % sugar sold for
10Oi-. The World said on May 4: The
report that the schedule was 10 be
changed became generally known. al
though there were many who Were
skeptical. Sugar continued to rise on
inside information
sugar quoted April -. 1884.
And still no word from the finance
committee. Everybody about the SEN
ate. from the clerks up. was operating
in sugar. Every body was sugar mad.
Two days later came Secretary Car
isles interview. which furnished the
first official confirmation of chang.
in the sugar schedule TO an ad valoren
basis.
sugar quoted April 30. 1914.
And sugar still rising. Why this
rapid advance is explained by the value
Of she concessions prophcsied.
On May ) sugar sold for 100.
. This great advance of 33 points over
the price of February /. has enhanced
the market value Of sugar stock over
s35. 100000. Perhaps 100000 900 of this
increase went to the clique Of 'insid
ers" who were bold enough To waylay
the senate. Perhaps the remaining 81.
100000 has been put where il vii
do the most good as reward fol
I senatorial courtesy" shown the trust
This courtesy promises A bill which
5 will give gratuity Of about sl5. 900. 0o
, wear to the trust If this courtes'
can prevent the passage of any tariff
! legislation it will allow the trus. Z
continue to enjoy gratuity Of nearl.
a0.OoO.OD.
Another evidence that sugar stock
have been manipulated on private tip
from the senate chamber and that tn
sugar trust has dictated legislation !
: supplied by the Sugar Trade Journal
the organ of the trust. This journal
with remarkable foresight made an EN-
:, phatic prophecy on April ,. OF wha
! would come to pass. On May Jthi
: journal said boastingly. foolishly an
I thrcatcningly:
7 1T seems To be generally concede
that If any tariff bill is TO be passed
will contain a sugar schedule such a
: suggested in ours Of April ;. placing I
per cent. al valorem duty on all sugars
with one-eighth cent per pound extr
y on all sugars above No. Ii Dutch stanc
ard. and one-tenth cent per poun
more on sugar from bounty countries.
This is in fact exactly what was repor
ed on Nav :. TO the senate committc,
T BYRON NJ. Holt.
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