The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1894-06-05
A FORTUNATE MISTAKE.
Senator Mcpherson Claims His Sugar
Speculation


Was Owing to the Mistake of a Servant,
But 1t Melted Him Several Thousand
Dollars just the Same-Thc Senatorial
Committee Submits the Testimony of
the Witnesses Examined
Washington, June 4.-Senator Gray, chair
man of the sugar trust investigation COM
mite, laid before the Senate today the
official stenographers report of the testi-
mony given by Senators MCPHERSON, Harris,
Jones, Mills, Vest, Voorhees,, Secretary
Carlisle and Representative Warner.
Mr.. MCPHERSON said that as far as he knew
there was no truth in any of the charges
published concerning Secretary Carlisle and
the dolngs of the sugar trust. For himself
he said he disagreed with the committee as
to the sugar schedule. He opposed the
schedule presented by the committee and
did little raving over that himself, but
never saw Mr.. Carlisle do any of it. Mr..
MCPHERSON said he laid before the commit
tee the views Of his friend, Mr.. Mathieson,
member of the sugar trust, but did not en-
dorse them. On the contrary he opposed
proposition.
The witness said that Mr.. Searle, secre-
tary of the American Sugar Refining COM
pany came to his house and argued that the
proposition offered by Mr.. Mcpherson would
give the sugar refners nothing. Mr.. Sarles
was the only person he ever saw on the
subject.
The most interesting part of Mr.. Nc
Pherson's testimony related to his own in
yestments in sugar stocks, three hundred
shares of which he purchased in November,
1888, but which he supposed had been sold
with others early in December He said that
during the. holiday recess of Congress he
transferred his stocks and bonds to his son,
covering all the active business enterprises
he had. Continuing his narrative of this
matter the Senator said:
On December l, statement from the
brokers showed that I had on hand three
hundred shares of Manhattan railroad stock
in New York city three hundred shares of
Jersey Central stock, three hundred shares
of sugar stock and five hundred shares of
North West Common which transferred to
my son. AZ
All that went over to him and on our re-
turn here February s, after the house had
sent bill over here without any tax on
sugar whatever and we supposed there could
be no possibility of any tax upon sugar, nv
son purchased, as he had right to do, own
ing those stocks, although they were still in
my name on the books five hundred shares
of sugar stock. He purchased it for investi-
cation intending to sell his railroad stocks
and put the proceeds into sugar.
Senator Davis:@9pid your son make this
purchase upon consideration with you?''
Senator MCPHERSON: "No. consented to
the purchase of this stock but whether be-
fore or after the purchase cannot say, be-
cause OF the fact that it did not seem to me
there could be, any such legislation any
more with regard to sugar F.. On the 22nd of
February, after selling everything he
wanted to buy sugar stock again. He
had the money then to pay for 1t. He
wanted an Investment and l said to him
that had some doubts about the propriety
of his doing it. Although he had his own
property, and was his own master, vet at
the same time persuaded him not to do
anything in sugar. Now, as l W an order
had been prepared among other orders. NY
son left that evening for New York. This
order was among other kilograms that were
sent out inadvertently in some way or
other either through my carelessness or the
carelessness of servant. ascertained
after several days that the telegram had
gone.
This was on the 22nd of February. On
the Oath received a notice that there had
been 1000 shares of sugar stock bought on
my account on the 23d. could not under
stand why that could be and Immediately.
the same moment that received the notice.
telegraphed to New York to sell stock at
once. Well, the Gath was on Saturday. Of
course it is a half holiday and the notice, or
rather my order,. got there too late to do
anything. The next day was Sunday and
early on Monday morning it was sold.''
Mr.. Mcpherson said he had been an in
weston in Wall street during the consider
alton of the tariff bill, but had not directly
OF indirectly given out any statements as to
!. the probable action respecting sugar to any
person, and he had no knowledge of any
other Senator specializing in sugar stocks
during the tendency of the bill.
. Senator Mills denied any knowledge of the
statements made in the papers and said
Secretary Carlisle was never before the
committee while he was working with it.
The letter from Mr.. Carlisle introducing Mr..
Haveyemer was simple letter of introduce
ton, but Mr.. Mills said he declined to see
him.
Referring to the way in which the duty
came to be put on sugar, Mr. Mills said: II
was the first one of the three to propose a
duty on sugar. 1t was an unwelcome thing
to me to do it, but regarded the bill as not
producing sufficient revenues, and some
thing had to be done.''
Mr.. Jones testified that there was some