St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-07-23

~AO SopiS . Representative hShS
Mr.. Havemeyer TO Open His
Books and Show Everybody
His Profits in the Recent Past
-Four Questions Asked Which
Will Please the Public.
WASHINGTON, July 22.-The follow
Ing letter from the chairman of the
house subcommittee on trusts to the
president of the American Sugar Refin-
ing company was mailed tonight:
A.C.Havemeyer, Esq, President of the
American Sugar Refining Company, New
York-Dear Sir: II you will supply to
me, as chairman of the subcommittee on
trusts OF the committee on manufacture
ers the Information asked for herein, 1
will see that 1t is laid before the house.
A free trader myself, and believing
that no tax should be levied upon sugar
(or anything else) except for revenue.
nevertheless as practically every article
OF general consumption is to retain pro-
lection, feel no prejudice against the
sugar interest as such, and l think
large number of the members OF the
house entertain the same view.
AS. however, the sugar trust de-
mands protection, or, more prop
erly speaking, the taxation of the
public for its profit, it should put
before congress and the public
its real condition so that an intelligent
opinion of the merits of its demand may
be formed. If, upon an actual and nec-
eSsary investment of cash capital, 1t
cannot save itself from losses without
bnrdening the taxpayers, then it has as
much justification (and more) for being
fed from the public resources by taxa
ton as many industries which we, in
passing the Wilson bill, allowed to re
main upon
THE CHARITY List.
If, however, its profits have been ex-
cessive, when figured upon an actual
cash and unwatered capital stock, then
you, as fair minded man, will agree
with me that you should not have any
legislative favorS. In such an event
tax of-One cent per pound upon 100-de-
gree sugar for revenue only would be
fair and equitable one, permitting a re-
duction of one one-hundredth of a cent
for each degree of sweetness lacking.
Such tax as this, while taking nothing
to the'treasury of your company, would
pour great many millions into the
government Golfers. The information
asked for is comprehended under four
heads
FIrSt-What is the present tax value:
lie. (cost of replacing) of the plants
actually in operation and necessary to
produce the quantity of refined sugar
turned out by your company?
Second What have been the actual
profits of the American Sugar Refining
company for each full fiscal year since
its organization, and what are Its profits
so far in the current year?
HERE'S HOT suoT.
Third-Wnat annual salary is paid to
each of Its general officers?
Fourth-What is the actual paid-in
cash capital, including the plants turned
in at their real cash market value. and
what is the present surplus fund of the
company, including all Individual
profits?
The Mckinley bill gives the sugar re-
finers an opportunity OF collecting from
pound upou all sugars above No. l6
Dutch standard. and the consumption
of all classes of sugar during the past
three fiscal years aggregated IL, $50, ,902,-
446 pounds, fully nine billions of which
were above this limit. 1t follows, there.
fore, that the sugar trust and the indie.
pendent refiners i'll the Unit ed States
must have received over $40, ,OO0, 900 of
of the peoples money while the govern
ment gotduring the three years S47O, ,751.
AS your company asks continued favors
the propriety of supplying the country
with the information asked herein will
not be questioned by so reasonable a
man of business as yourself. You are
Democrat, and will. l trust. join me in
the hope that With Il a few years the
present wretched system of taxing the
people (under the misleading name of
protection) for the benefit of private in
terests will be done away with entirely
and forever. Yours truly.
MICHAEL d. HARTER.