The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-03-10
WORSE THAN FREE SUGAR."
REFINERs FIND No PRoTECTIov nv
7HE AMENDED TARIFF SCHEDULE

An Usiy FesIius - wsn street over ,hs
way "Ne~s" fro- wsshtsgton Alternate
20 Before the seheduis was Aauouueea
Nothing more interesting has come TO Wall
street in many years than the inform alton
from Washington yesterday that Senator VIII.
lam Alfred PETER the porulist Senator from
Topeka and shawnee county. had introdu ed
n resolution in the Senate calling for the ap-
pointnent OF a select mmittee TO investigate
the stories that certain Senators had made use
OF knowledge gained as Senators for dealing
In stocks. notably In Sugar Trust certificates.
There were two interpretations nut upon
Mr.. refTers action. IL will lie recalled that the
Senate subcommittee having charge OF the
sugar and other schedules was composed Of
Senator John Martin OF Topeka. Mr. PETERS
colleague. Senator George Graham Vest OF
Kansas City. and Senator Roger q. Mills Of
Texas Mr.. PETERS resolution was believed
to be drive at the members OF this sub COM
mittee and their friends and Il was also the
opinion that Mr.. PETER would not feel dis
couiaRed IL he obtained little political cnpi-
tai in Kansas IL turned out. though BY later
dispatches. TINT he had no personal knowI-
edgo that any Of the Senators had lined their
pockets hy speculations in Sugar certificates.
and that he had consented that his resolution
should lie on the table temporarily.
There Is an ugly feeling among certain very
prominent Wal street operators toward a
number OF United States Senators. Just what
foundation there il for this feeling none Of the
eminent inen OF Wall street cared to say,
further than TO declare thai the conduct OF the
members Of the sub-com I,tce OF the Senate
had been inexplicablS The Wall street critics
could not understand the alleged backing and
Killing on the sugar. lead. and other schedules.
The speculation IN American sugar Re-
ilning certificates on the New York Stock Ex.
change Tell of very materially yesterday 1t
looked as " the raR.tag and bobtail ~ the
r, i ,, WIs manipHl9t,nS every wire to
speculation aggregated only ~. 100 shares at
Tue following range Of irices: ,Opening. $40
~ With the smoke Of Thursday cleared
away; more attention was directed toward as
sugar schedule 90 the fortunes OF the Ameri-
eau sugar heining Company.
aidered experts on sugar statistics and sugar
duties In statement Issued yesterday they
A. careful study OF the provisions OF the
schedule brings out the following facts:
and!J degrees poiarlyation is only half that he.
tween so and iSi. while tho difference in mar
sfadeS Is douSie The e Gs Of HH1 the hS
IA arranged will be to discriminate largely
aGans, the low grade ,I raw sugars which come
%" isar las and axe the sugars mGst essential
elimination will give the London market the
preference Tor all such sugars
Seconf-The SEIZED ulc provides tina. on all
sugars above WI degrees polar izHtion the duty
shall be Lao. TINS VIII make raw sugars OF
20 and w degrees test lsucn sugars are largely
imported from Java pay the same duty as FOR
eign refined. Moreover. it will not be safe 10
import !aj degrees Cuba centrifuGnls which Is
the standard Importation OF the better grades
OF centrl!uGal sugars Tor the reason that a
slight improvement In tho test IN transit
would subject them to the same duty Us re-
lined sugar.
Thru Perhaps tho m ost damaging feature |
a q N lie int ~ 80 A.
Importation OF beet sugars. II is not gen-r- |
basis at analysis instead Of polarization. an al
lowarcc being made on tho polarization to !
cover the ash In the sugars. which destroys n |
large percentage u thetcrvsial izat IL value; |
hence sugars testing by the polAri-cope 81 TO |
- DEGREES are ought on the i,asis 0f ~ de- |
grees hnnlyrir. their value hcinG thus figure !
ms proposed ihes" sugars would Ray y duty 81 |
~ or 10 degrees while their Intrinsic a.ue is
only the equivalent ~ ~.
FOURTH nder The most favorable condi- |
tons the margin granted !e American REIN |
ers under this bill on the better grades OF raw |
sugars. say !Hi centrifuEals as against foreign
refined. virtually amounts to nothing the duty !
on ~, nlrifugHls being LIZ. and on refined |
I:tp. iehving ~ cent APPARENT margin. from |
Of degrees polarization, which /. equivalent |
to about Il = cents r.T loo pounds.
ny the above ANALYSIS it will re clearly seen
that the proposed till contains no protection
whatever to the american reiiners. hut with
the existing bounty in Germany II is really a
discrimination in favor OF foreign refined"
Finally one Of the Tepresenia;iyos Of the
American sugar Refining Company said thas
the tariff proposed was wholly untavorahle u
would rather have had rec sugar than the bill
TeroTted. Tho reason given was that under
"a. proposed. schedule the company would
the rlrt ami waste imrort-d in sugar. which
would more than Offset any advantage given
elsewhere. This bill, he added is worse
Ire