The Portland daily press., 1894-11-30
SUGAR TRUST WORRIED.
Reason of Their Threat to Close the
Refineries.

A Report That the Free Sugar Bill Would
Be Passed Startled Therh-Hence the
Threat to Shut Down.
New York, November 30. "A food OF
light was let in upon the doings and con-
ferences of certain United States Sena-
tors in this city since the election, when
the announcement was made yesterday
that owing to hard times and an expect
ed hard winter at Washington about all
the refineries controlled by the Sugar
Trust would Immediately shut down.
Narrowing as this news is to the 5o,0oo
worknen' who will thus be thrown out
OF employment, there is more behind IL
than the mere. statement that the refill
cries will close.
The Sugar Trust will close too. That
it is practically doomed, and that a free
sugar bill will be passed at the opening
of Congress few days hence, has been
States Senators. which has been held in
this city. Among the senators who at
tended this conference are some OF those
who have been denounced by pubic
opinion as being in the past the Sugar
Trusts best friends. Senators Smith OF
New Jersey, Brice of Ohio, and Vest OF
Missouri are among them. Senator COR
man has been in the city off and ON for
three weeks He went to Washington
at O'Clock yesterday afternoon, without
letting his friends know whether ne
agreed with Messrs. Smith, Brice and
Vest.
BLUFF" OR LAST GASP"
But when the news got around that
the Sugar Trust otherwise the Amerl-
can Ref4ery Company, contemplated
closing it's plants. which. it says, cost
s61, 900, 600, and for the time being going
out of the business of making sugar, eV-
erybody knew that the sugar "barons"
had got wind of what the senator's In
tend doing, and had mace a move Whlch
might be called "bluff" or last
gasp" or the sympathy racket" now
ever you may look at it.
The statement was made from SEMI
official source that the official announce
ment would be made tomorrow (Frl-
day and that the announcement would
be of.the closing of all refneries except
the Havemeyer & Elder, in Brooklyn,
and the Franklin in Philadelphia.
HAVEMEYER CONFIRMS 1T.
President III. O. Havemeyer, of the
American Sugar Refining Company,
was reported. to- have said yesterday that
it had been decided to close all the refn-
cries in this city, because there was no
money in the business. r.
"The last Congress is responsible for
the present situation, and if it passes
the free sugar bill at Washington, as it
is reported that it will, it will Kill the
sugar industry completely. Things can
not be much worse than they are now.
There is very little difference between
the prices of raw and refined sugar, and
there is no reason or justice in continu-
ing business at heavy loss.
"We must either have enough profit to
cover tie bald expenses OF carrying on
sugar. refining or else go out OF the busl-
NESS completely. We cannot compete
with the wages paid in Europe, and our
| men could not begin to support them
selves and their families at such figures.
WHAT THE COST WAS.
| The refineries owned by the Sugar
| Trust, which will 90 out of business il
free sugar is passed, and their comput-
| edn valuation at the time of their &C.
| QUESTION, is as follows: