New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-07-22
TARIFF GAME OF THE TRUSTS
FREE COAL FOR THE WHITNEY SYNDI-
CATE; HIGH DUTIES FOR
HAVEMEYERS

CATE: HIGH DUTIES FOX
HAvEMEYERs.
HOW THE PRESIDENTS LETTER SUGGESTS NEW
DEVELOPMENT ON THE WASHINGTON
DEADLOCK - PAYING OFF POLITICAL
DEBTS IN THE NAME OF TARIFF
REFORM'-NOvA SCOTIA MINES
AND SUGAR MONOPoLEs
FosTERED--INDIGNANT
WALL STREET
CRITICS.
The deadlock in Congress on the German Tariff
bill stined speculation yesterday except In American
Sugar Refining stock. The manpulators Tor the
Sugar Trust had the audacty to renew their tactics
and at the Stock Exchange the price of the com
mon shares recovered the full loss OF Friday BuIl
tins again were freely distributed and the gambling
element OF Wall Street was promised vigorous
spinning of the roulette wheel this week But the
general stock market IS dead under the pail OF I'M
certainty flung the situation, and values ior
some time II they move at all, will be swayed by
the whispers of compromise or contest according as
they come from Washington.
Financial circles feeling with growing regret
the unfortunate effect OF President Cleveland's par
ticipation in the tariff fight Further analysis OF the
letter to Congressman Wilson is raising consider
The conviction cannot be avoided that the real pur-
pose OF the letter to offer basis on which the
Democrats of the House Of Representatives could
accept of the Senate BILL including the out
rageous gift to the Havemeyer trust embodied in
the Sugar schedule. Wall Street men are too shrewd
not to see the sinister connection between the Presi
dents remarks free coal and iron ore and the
imposition of a proper" duty on sugar. In iact, II
is beginning TO be feared that the dozen men VINO
have acquired immense fortunes through the Have
meyer combine" have strong hold upon the
Administration upon the Democratic leaders OF
the Senate The position Of Senator Hill and Of
the President is in sharp contrast The former holds
the true Democratic ground, If paper theories are
TO be accepted while Mr.. Cleveand's letter is seen
10 be thnly yelled apology for surrender to the
Sugar abominaton Men who are 10th TO accept
this theory SO discre1itabe to the Chief Executive.
are forced to do 50 in the light of the continued
audacious confidence OF the man!pulat0rs OF Sugar
stock and the vigorous stand Of the Democratic
Senators in defence of the German Tarin mon
etrosity.
1t must. men say. be more than coincidence
that the article which Mr.. Cleveland 50 strenuousiy
insists should be put on the free list Is the very
one in which ex-Secretary Whitney, his brother
Henry " Whitney and their friends see prospects
of millions OF profits The Nova Scotia btum!nous
coal mines known to be in the control Of a syn
dictate Of capitalists which Includes the Whitneys.
Every one knows OF the Obligations which Mr.
Cleveland is under 10 ex-Secrctary Whitney. To
him. more than 10 any other man. the President
his political success in the last Democratic
Convention and to him was due the management
of the capltalisc interests which contributed so
freely TO secure Mr.. Cleveland's election 1t will
be remembered that Mr.. Whitney did not ask any
political favors of the President. except in the Van
Allen 1t IS now clear where Mr.. Whitney
looked for his reward. Free coal would enable the
Nova Scotia mining syndicate 10 flood the Eastern
markets with coal in unfair competition with the
perfoo Of NO,lld
in consequence flow into the pockets OF the Whit
neys and their friends. Free coal. therefore. be-
comes of the cardinal features Of the Wilson
bill. made up under the oversight OF the Administra-
ton. Free coal is the ultmatum given by the Pres-
dent when the Senstes bargain with the Sugar
Trust is threatened by the indignant revolt Of hon
est Democrats in the House Of Representatives.
Wall Street is laughing sardoncally az the virtu- |
Gus Indignation of Mr. Cleveland that the poor /
farmer should be shorn Of protection in his sheep
raising while the coal and iron capitalists retain
labor which Is dependent upon the profitable opera
reform" demands that the farmer snail be- robbed /
OF protection through the means OF free wool. and .
that capital and labor engaged In the mining ~ I
dnwn "a enrich he oners Of Csnadan coal rnes
what the purpose OF the Administration was The /
ownership of these mines had been carefully "cor- /
rallied" by political and personal friends OF the .
the little game Of money-making by politics which /
the President. in his letter to Congressman Wilson.
ton apparently involves the fostering Of Aneri- !
can monopoly that has contributed more to democrat
3ze legislation than any other combination OF capital
ever expected to do. coal trust in Nova Scotia. /
an iron trust in Cuba and sugar trust In the ,
United States join hands 70 mule, the American !
people "in the sacred name Of tariff reform"
1t IL beginning 10 be hoped downtown that the .
exposures OF Sena torial speculation in Sugar may !
yet break the power Of the trust upon the senate
and the Administration II public sentiment should !
be aroused sufficiently It Is though, that the guilty
IA rqain with the Uayenevers and abandon the
Trust beyond the dreams Of avarice The hope Is
not strong ii ought to be. for the Presidents
fences of virtue and high-mindedness, the collar OF
the Sugar boodlers may rest on the Administra-
OF the Sugar Trust are shown In their
schemes the tariff and their treatment Of their
laborers in the Williamsburg rehneries. Some
brokers commented upon an Item In the morning
papers telling of the prostration OF twenty-five
men In the reineries by the heat on Friday The
men work In tremendous heat, ana the weather
recalled that a year ago when the men at some OF
the refneries asked for extra allowances for work
refused with the remark that there were plenty OF
men to take their places. Yet this cruel and un-
feeling policy is pursued by combination which
has Issued stock 10 the amount OF $IO.grgc on !
property valued at $1,000 900 to So 900 which paid
last year per cent the preferred and q per
cent on the common stock. The regular dividend
cent on the actual investment ut is outrageous"
exclaimed a broker yesterday discussing these fig
profits. lets It's drop by the score from the
heat and buys members OF Congress In order 70
wiring 1900 coo more from the Concentrating Amer
can public 1t refuses TO issue an annual report IN
order TO hide its exorbtant profits and when the
sachusetts courts demand that ii shall cease
doing business in the state or else file statement
rs managers announce that they will fight the
case for years..