Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-12-09

Enormous Profits In sunnr Made by
Trust iiagnntes.

New York. Dee. S.--The sugar mag
mates gave the world another sample
OF their superlative disregard fr the
prorrleties today. il. o. aAve.ns eyer
Ia particular played out his game in q
bold manner which wcn the Disgust Of
seif-r4spectihg members Of the Stock
Exchange.
For weeks Mr.. Havemeyer has been
most vociferously pr0claiInlng tldt the
sugar industry was practically ca the
edge OF bankruptcy: that 1t was rap
lay succ0mplng to the ill-treatment
he alleged 1t had received fDral the
congress, and finally he made his bold
stroke of pretending to dlschdrgc all
hands from the sugar refinesies wi the
1rust and talked of closing these
vast hives up Tor an indefinite pfiUd.
The press OF the city promptly called
his bluH aud denounced IL as u mere
bt0ck-iObbing ruse. INTENDED tr do
nothing more than to break the price
Of sugar certificates in the stock npr-
ket to enable Mr.. Havemsyrr and his
followers to get back at lae low figure
the stock they had doled gu: u the
public at prices far above pm. The
price Of 20 or 40 was whsp 7red as the
proper figure to which sugar should
SLUMP. and 1t started toward that
point at q rapid gait. There \,ns a
strong opposition, however. and fl
reached low turning point al s., and
then for several days there have hen
eleverlv scattered points about re-
ducton Of the quarterly dividend,
which Is due about this time.
Today the managers got together 10
decide on the dividend. hut white l!lcy
talked and talked the floor ~ the i9S-
change bore evidence to the fact that
q big following of brokers mad been let
INTO the secret of lust what the snuar
managers were going to do. There VAS
some talk of opposition to the Have
never plan. but none Of the mana gers
would talk The fact is that after the
tull dav had been used by HaVeinpyer,
through his wel-posted b7uker5, fnd
sugar had climbed to SO Oh traLsic-
tons of about $4,000 shares, or neatly
half the entire common capitalization of
the trust. came the voice frvn the
boardroom that the dividend should
remain as at PRESENT. Der cenr ppr
nnnum on the ureferred and u per
cent on the common. In darlnrlng The
common dividend 1t was moi even
termed a quarterly dividend, an ,Ltn
the explanation vas tackled t. the q @
hratiOn that the divid md was con
earnings prior TO September l." r',cre
was not a figure or an explanation bc.
you'd mis-. though it was promised thut
sApchhuluers lnlPnt eNDeCt BUIne figures
within few duys.
The Eiganlil turn had been made
and the street se!S q u Der cent sncl,
selling at less thln ~. while an \ per
cent stock. such Us the New York,
New Haven aud Hartford. Is quoted
at 1913. The differ ice In these Figures
measures the distlus: which the IN
vesting public ave for Havemeyer
aud his partners This dividend kpeps
the sugar trust IN ~ - per cen, class
and shows what line. fat mint THIS
monopOplv Ia.
Five wears ago 100000 worth or So.
gar stock at mar mighs have been
bought at 20: that H. $4,000 would
have been the actual investment In
That time ~ per cent has been handed
out In dividends. or $4,000 has been
paid over to the stakeholder who stlll
Ihs his SlOO'oOO face value of stock.
which he can sell at SO or better Mt any |
moment So the account would stand, |
Face value. 100000: cost. $4,000: I