New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-06-02
SPECULATION IN SUGAR.
CURIOUS ACCIDENT BY WHICH SENATOR
MCPHERSON MADE $500.
SECRETARY CARLIsLE's PART IN FRAMING THE
SCHEDULE TOLD OFFICIALLY-THE REIN
ERs GOT WHAT THEY WANTED. But
THE GROWERS DID NOr-sENA-
TOR GRAY HAS NO NOSE
TOR NEWS


TOR GRAY HAS No NOSE
TOR NEWS
Washington June The Senate Committee
now engaged in examination into the alleged
statements that the Sugar Trust interfered in the
construction Of the sugar schedule Of the pend
ing tariff bill. and that various Senators have
been speculating In stocks. have become tired Of
their Intellectual efforts keep their proceedings
secret and have decided that fast as the stem
ographer prepare his copy they will report
II 70 the Senate and have II printed. Much that
was concealed from the press yesterday came 10
the surface to-day and 1t is apparent that Chair
man Gray. In his capacity the unfoder Of the
news unearthed by the committee, has not as
keen an appreciation as the average newspaper
man az to what Is and what Is not news The
statements made by the Secretary Of the Treas
ury were given in these dispatches last night.
but II develops that the testimony OF Senator
Mcpherson was equally II not more interesting
Mr. Mcpherson stated TO the committee yester-
day that he had purchased 1000 shares OF Sugar
certificates. but that he promptly transferred
them to his II also developed that the Sem
ator purchased another block OF 500 shares. The
Senator denied that he speculated In the sense IN
which that word Is generally used. He bought
the certificates outright. but Of course when their
yaiue increased 10 an extent TO Justify II, he sold
the stocks for the profit there was In It, On
this occasion ne and his son decided that 1t would
be "A good thing to own more Sugar certificates
and they accordingly wrote out telegram 70
their broker directing him 10 purchase 500 shares
of Sugar for them. This telegram. Mr.. McPher-
son said was laid on the table and they proceeded
10 discuss the matter further. The result was
that Il was agreed that 1t would be improper for
tn
much as this matter would be up for legislation
and Il was decided that the order should not be
paced The telegram was not however. de-
stroyed on the contrary II was sent and the
stocks purchased. Mr. Mcpherson told the COM
mittee that the message was found on the table
BY one of his servants and sent the next morning
and the stock was purchased without his being
aware OF IT, AS soon "a he learned OF IL the
Senator ordered Il all sold In response 70
question regarding the profit made. II IS under-
stood that Mr.. Mcpherson said he sold II without
whiting for any rise In the market but that he
netted n profit Of something like $1,000.
Tho members O. the committee say that the
r-,ser, scone ~ the Investigation concerns the
relations Of the Trust 20 the construction OF the
sugar schedule. and that the alleged speculation
OF Senators may be made the subject OF investi-
CATION later on
II has been stated to the committee that the
original draft ot the schedule prepared by Mr.
Carlisle Is in existence. and IA In one OF the
committee rooms in the Capitol and VIII prooa-
hly be produced when wanted.
:, far AS the letter said to have been given by
Mr Havemeycr 10 Mr. Mills Is concerned. both
Mr.. Mills and Mr. Carlisle admitted the existence
G: this letter yesterday. but 1t was said that 1t
was mere letter of Introduction. Mr. Mills. as
al
declined 70 receive II for "prudential reasons"
There were two things brought out yesterday 70
which members u the committee attach much
lfnportancc Secretary Carlisle testified that he
appeared before the committee. stated in these
dispatches last night and asked that the y
cent duty additional on refined sugar be changed
T. the ad valOrcm rate: and that he further
asked the committee to make II IS per cent. Mr.
Carlisle also stated that he had had at least one
conference with Mr Havcmeyer, the president
OF the Trust. Every member OF the Finance
Committee. In giving testimony. acknowledged
thar he had had interviews with both sugar
planters and renners. their representatives.
In every case It shown that the planters
urged specific duties and the renners and also
Mr. Carlisle. urged al valorem duties The
planters who wanted specific duties on their
sugar got al vaorem rates on the raw product.
The renncrs who wanted ad valorem rates on the
refined sugars got specific rates II is asserted
that the al valorcm rate On the raw sugar works
10 the DISADVANTAGE of the producer In this coun-
try. while the specific cuty on refined sugar gives
the rcilner an absolute and fixed amount but
not quite what he would have had had the 40
per cent proposition gone through Ii Is proba-
blc that from this time the reports OF the In
ves,!gating committee will not ~ 10 the Senate
with such unanimity as appeared in the report
concerning the rccalcitrant correspondents
ne De-
hour to-day examining Congressman John De
witt Warner with reference 10 allegations that
the Sugar Trust attempted 10 secure his vote
while the Tariff biz was under discussion in the
House. 1t has been rumored that Mr. Warner
was approached by representatives. OF the Trust
and that they endcaVored 10 persuade him 10 de-
in his efforts with regard to the sugar sched
ule and the story goes that Mr.. Warner refused
10 be diverted II was In view Of these reports
that Mr. Warner was called before the commit,
tee At the close Of his examination he refused
Ia give nvcn an lnkng Of the character OF his
testimony, saying that he had promised the COM
mi tee not 10 dlvulgc anything he had said.
Although the members Of the committee refuse
to make any statement concerning the testimony
Of Mr.. Warner. II IL said that 1t was rather sem
satlona and was delivered in n most emphatic
manner II is understood that Mr.. Warner practi-
cally admitted the statements made I'm the press
that when he making his fight for free sugar
in the House the effort was made 10 cause him to
dcslst. and the statement was made TO him that
II was desirable from polite point Of view that
a duty should be put on sugar.
The committee" cndcaVOred 10 get Mr.. Warner
10 give the names Of those who said TO
have made this statement To him, but h declined
His membership I'm the other body Of Congress
makes him privileged witness. and one who
comes before the committee voluntarily
Mr. Castor. the wire manufacturer Will not be
before the committee til Tuesday. The COM
mittce adjourned till Monday next.
II IA stated on the best authority that President
Cleveland and Secretary Carlisle have been in
entire and perfect harmony In all their actions
I'm regard to the Tariff bill. Secretary Carlisle's
part in the preparation Of the sugar schedule or
that bill is officially stated as follows:
Senator Jones called upon and Informed MIN
that the subcommittee had agreed upon the
sugar schedule. and requested that he put 1t In
proper form This the Secretary did. the para
graph prepared being one OF few lines ana
providing that after January l. 1895. there shall
he levied and collected all sugars duty or
40 per cent ad valorem, and upon all sugars
above No. l6 Dutch standard In color there snall