The Providence news. (Providence [R.I.]) 1891-1906, 1894-07-23
WILL He GET IT?.
narter Seeks Information on
the Sugar Trust Workings.


NN
WASHINGTON, July ea-The following
letter from the chairman of the house
subrcommittee on trusts to the president
Df the American Sugar Refining company
was mailed last night;
II. q. H~avemeyer. President American henn-
ing Company, New York:
DEAR SIR-If you will supply 20 me. as
chairman OF the subcommittee on manuiac.
lures. the Information asked for herein, l VIII
see tina IL n laid before the house. A free
trader myself. and believing that no tax
should be levied upon sugar Cor anything eise'
except for revenue. nevertheless. as pracu-
cally every article OF general consumption $50
retain protection, ! feel no prejudice against
the sugar interests as such, and l think large
number OF the members OF the house enter
tain the same view.
AS, however, the Sugar trust demands pro-
lection, or. more properly speaking. the taxa
ton OF the public for its profit, IL should put
before congress and the public It's real con-
dition. SO that an intelligent opinion OF the
merits of it's demand may be formed. III, upon
an actual and necessary Investment OF cash
capital, IL cannot save itself from losses with
out burdening the Taxpayers, then 1t has AS
much justification land more) for being fed
from the public resources by taxation as any
Industries which we, in passing the wilson
hill. allowed TO remain on the charity list.
Considering Legislative Fsvors.
II. however, it's profits have been excessive,
when figured upon an actual cash and I'M
watered capital stock, then you, as a fair
minopi man. will agree with me that you
should not have any legislative favors. In
such event a tax OF / cent a pound upon 100
degree sugar, for revenues only, would be a falr
and equitable one, permitting a reduction or
1-i0th of a cent for each degree of sweetness
lacking.
Such a tax as this, while taking nothing To
the treasury OF your company, would pour a
great many millions into the government cof-
fers. Tie Information asAed for Is compre
hendod under four heads:
first-what is the present value Il. e., cost
Of replacing) Of the plants actually in opera
ton and necessary 10 produce the quantity OF
refined Sugar turned out by your company
Second-What have been the actual pronts
Of the American Sugar Refining company Tor
each full fiscal year since its organization ana
what are its profits SO far In the current year Z
Third-What annual salary Is paid TO eaoh
Of its general o~ficers2
Fourth-What is the actual paid-in cash
capital, including the plants turned In at their
zeal cash market value, and what Is the
present surplus fund of the company, includ-
ing all individual proftsf
The Mckinley bill gives tho sugar reiners
m opportunity of collecting from the consum-
ers a tax Of one-half cent per pound upon all
sugars above No. Is Dutch standard, and the
of all classea of sugar during the
past three fiscal years aggregated 1886, SO2,-
40 pounds, fully 1900. QUO Of which were
above this Limit.
Ii follows. therefore. that the Sugar trust
and the independent r~ehners in the United
States must have received over $4,000. 600 OF
the peoples money, while the government got
during the three years only Si70,s 5l. AS your
compan asks continued favors, the propriety
Of supplying the country with the information
asked herein will not DO questioned by 80
reasonable a man Of business as yourself.
You are . Democrat, and will, trust, Join
me In the hope that within a few years the
present wretched system OF taxing the people
(unde2 the misleading name of protection) fol
che benefit OF private interests will DO done
away with entirely and forever.
Yours truly.
MICHAEL ID. HARTER.