The times. [volume] (Richmond, Va.) 1890-1903, 1894-06-19

| not effectuate under u sPeeihe ""'s'
| Il therefore insists upon high an Va'o-
| rem duty. The sugar planters OF hoe,S.-
ono ON the contrary, clamor for hish
snecinc duty. The trust and the planters
OF Louisiana are, therefore, s"oi"
mics on the tariff.
The secretary of the Sugar Trust MI
searies has testified before the senate
committee that the refneries were man
ing money before the trust was iorn'e"'
Its president. Mr.. Havemeyer. mas 'eS"-
fed that his impression is that they VIZ
not. But this seeming discrepancy 20
easily explained. Mr.. HavemeyeF' 40
president of the trust, has been accus-
TONED TO thirty and forty per cent
profits. Naturally. he looks upon pe'''
ten or fifteen per cent. proht as no'hi"s'
The trust will make no disclosures
about tho amount OF its capital III mas
refused 10 answer the enquiries "hich
the Senate Finance committee au'reSseu
several months ago TO manufacturers anu
which were answered cheerfully by the
others. and within the past few days 1t
has refused to comply in Boston with the
law Of Massachusetts regarding the filing
OF n statement of the condition Of the
corporation. Nevertheless, those familiar
with the business have been putting their
heads together and comparing notes. and
the result is confident statement that
the money actually invested in the trust
is less than s25.00o,0eo. Its actual capital
stock, however is s73.5i6coO, or about
three times what fits property and capital
Is really worth. This is divided equally
between preferred stock paying dividend
Of seven per cent. and common stock,
which paid last year a dividend OF twen-
ty-two per cent. The trusts dividends
last year amounted, in the aggregate, to
$40. $50, 305 or nearly one-half of its real
capital, all of which was gouged out of
the American people by the protective
tariff. 1t Is easy to see, therefore, that
the trust can afford to pay for the legis-
latIon 1t wants, and pay very high, too;
and 1t is quite in order to remark that
while representatives of other industries
which are not prepared to plank down
handsomely go TO Washington and fail to
get what they want, the Sugar Trust has
never yet failed to get exactly what 1t
wanted and all that 1t wanted. 1t got II
from the Mills committee. from McKin-
ley's committee, supplemented by the ac-
ton of the Senate (of course), and now
from the Senate's committee of con
servatives." 1t is also noteworthy that
the Sugar Trade Statistical" of New
York, which is understood on all hands to
be the official organ of the trust has
within the past few days contained the
following announcer ent:
Progress is being made with the tariff
bill so that the final vote in the Senate
will be taken about the 18th instant.
and II Is generally conceded that the
sugar schedule VIII remain practically
unchanged, except that the l.ioc. per
pound differential duty wi be taken
from all sugars below No. l6 d. S.. and
apply only to sugars above No 16 y.
s., as is the case in the Mckinley bill
The date of operation may also be
changed to the beginning of the sugar
campaign year. October LIST. Otherwise
the schedule viii remain Unchanged, and
as it passes the Senate, unless the en-
tire tariff bin is finally defeated."
This concern has information which 10
one else has, and it would be exceed
ingly interesting to know where it got
it.
In the light of all these facts, the
testimony which Senator Vest gave be-
fore the investigating committee last
Saturday becomes of the very highest
possible interest and Importance. The
first thing in ii that arrests attention is
the fact that when the duties on sugar
were to be adjusted the senators who
appeared before the committee having
1T in charge were naturally the sena-
tors from Louisiana. But they were ac-
by Senators German, Brice,
Hill, ard Smith. The Louisiana sena-
tors, of course. and properly. were there
to represent the Louisiana planters. Who
were the Others there to represent?
Echo, looking around for something to
say, can find nothing whatever to an
swer back, but Sugar Trust" The next
thing which fastens attention is the fact
that as soon as they got before the
committee they began to wrangie over
the duty that should be imposed, the
Louisiana senators demanding the speci-
fc duty. which the planters want and
the senators representing the Sugar
Trust insisting on the ad valorem duty,
which the trust wants. The next thing
that attracts attention and II should
'ivet it, is this: At the beginning Of the
thing Havemeyer. president of the trusl.
had filed a written statement with the
Finance Committee informing ii that the
trust would be satisfied with a duty
OF 20 is per cent. ad valorem, and q
specific duty of one-quaIter Of a cent q
pound. But events had moved since
Havemeyer filed that paper. The dark !
had, no doubt, been many |
times trod by him. German steps up |
backed by Hill, Brice. and Smith. and |
tells the committee that they, tho "con- |
sentative senators Of the body. cannot |
be satisfied with less than 10 per cent
al Valoren, and one-quarter of a cent
a pound on refined sugar. The duty
fnally decided on by the committee was
~ per cent. ad valorem and one-eightb Of
cent specific, or per cent. ad yalorem
less and one-half less specific than what
Torman demanded, though the trust
tself had been entirely satisfied TO take
Il 2-S per cent. less than what German |
demanded for il.
The investigating committee might Close |
rs labors right here. German and Co.
may swear as they please, but an inteui-
gent public will determine what the case
Is May Virginia never have "another
German in the Senate"
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m ENGLISH VIEW OF sOUTHEpy
LYNCHING.
The writer Of tho fo1Iou.s.-