The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-06-02
SENATE FLYERS IN SUGAR.
Senator Mcpherson Played 1900
. Shares for a Turn.

the Purchase-He Claims, That He
Bought Them Outright and Sold on
the Rise at a Profit of Only $500.
The Telegram for 500 Shares Left
Lying on His Table and Sent by
His Servant Without His KnowI-
edge.
Washington, June 1.-The Senate COM
mittee not engaged in the examination
into the alleged statements that the sugar
trust interfered in the construction of the
sugar schedule of the pending tariff and
that various senators have been specu-
lating in stock, have become tired of their
Intellectual efforts to keep their proceed
ings secret and have decided that as fast
as the stenographer can prepare the COPY
they will report to the Senate and have it
printed Mu-h that was concealed from
the press yesterday came to the surface
to-day.
M'PHERsoN's DEAL IN SUGAR.
Senator Mcpherson stated to the COM
mittee Yesterday, that he had purchased
| 900 shares of sugar certificates but
that he promptly transferred them to h S
son. 1t also developed that the senator
purchased another block of 500 shares
He said that one evening he ana his son
were discussing the ACCESSIBILITY of in
vesting in some stocks. The senator de-
MED that he speculated in the
sense in which that word
is generally used. He bought
the cel tifcates outright, but, of course,
when their value increased to an extent
to Justly it, he sold the stock for the
profit there was in it. On this occasion
he and his son decided that it would be a
good thing TO own more sugar certificates.
and they accordingly wrote out a tele-
gram to their broker directing him to
purchase 500 shares of sugar for them.
PURCHASE HE DIDN'T KNOW ABOUT.
This telegram, Mr.. Mcpherson said,
was laid on The table, and they proceeded
to discuss the matter further. The re
suit was that it was agreed that it would
be improper for the senator 10 invest in
sugar certificates, inasmu h as this mat
ter would be up for legislation and it
was decided that the order should not be
placed.
The telegram was not,I however, de-
strOyed on the contrary. it was sent anI
the stock purchased. MIR. Mcpherson told
the committee that the message was
found on the table by one of his servants
and sent the next morning, and the sock
was purchased without his being aware
Oh H. AS SOON DIS ne learned OF III, inc
senator ordered 1t all sold. In response
TO question regarding the profit made,
il is understoo that Mr.. Mcpherson said
he sold it without waiting for any rise in
the market, but that he netted profit of
something like 81 800
SCOPE OF THE INVESTIGATION.
The mem bers of the committee say that
the present scope of the investigation
concerns the relations of the trust to the
construction of the sugar schedule. and
that the alleged speculations of senator's
may be made the subject Of investigation
later on.
1t has been stated to the committee
that the original draft of the schedule
prepared by Secretary Carlisle is in exis
tence and is in one of the oat rooms in the
capitol and will probably be produced
when wanted.
Every member of the finance commit
tee, in giving testimony, acknowledged
that he had interviews with both sugar
planters and rehners or their representa-
tives in every case it was shown
that the planters urged specf
duties, and the refners and also
Secretary Carlisle urged ad valolem
duties. The planters who wanted specl-
fc duties on their sugar were given
ad valorem rates on the raw prod
uct. The refiners who wanted al
valorem rates on the refined sugars
were given specific rates. 1t is claime,
that the ad Valorem rate on the raw sug I
works to the disadvantage of the producer
in this country, viii the specific duty on
refined sugar gives the re6ner an acsold
and fixed amount, but not quite wha
he would have mad, had the 40 per cent
proposition gone through
1t is probable that from this time on
the represen oatiNes of the inVestigatin
committee will notgo to the Sena e with
such unanlmity as appeared in the report
concerning the recalcitrant correspond
ents.
WARNER AND THE TRUST.
The investigating committee spent
more than an hour to-day examining
CONGRESSMAN John Dewitt Warner with
reference to allegations that the sugar
trust attempted TO secure his vote while
the tariff bill was under discussion in The
House. Nothing 1clal has been given
out upon the sub ect but it is understood
that Mr.: Warner practically admitted
the statements made in the press, that
When he was making his fight for free
sugar in the House the effort was made to
cause him TO desist and the statement
made to him that it was desirable from a
political point of view that sugar should
be given duty. The committee
bANC1 sOlAh " SCg WI wa 10 give
the names of those who were said to have
made this statement to him, but he de-
clined. His membership in the other
Eody of con RI IS makes him privileged
witness, ana one who comes before the
committee voluntarily.
Mr.. CASTOR, the wire manufacturer,
will not be before the committee until
Tuesday. The committee has ad burned
until Monday next. Mr.. CASTOR is said
TO be the involuntary eavesdropper at the
Arlington, whose statements to certain
mem Der of the House were repeated to
correspondents Schriver and Walker and
We're published by them.
or the Presidents of the United States
eight have been Of Welsh descsnt-Iobn
Adams, Thomas Jefferson. James Madison
James Monroe. William Henry Harrison.
James a. Garfield, Benjamin Harrison and
John Quincy Adams.
The efforts mace by the admirers OF the
poet Heine in &c tmany. 70 erect a mona
ment in his honor. continue to meet with fail
ure. su scriptions do not come in. and no
municipality can te found willing TO permit
the erection of the monument.