The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1895-04-26

with the uncertainty in the tariff and
the possibility of adverse legislation,
[ did not think it was proper time
to engage in the enterprise; that later
on perhaps [ may be able to join him
in such an enterprise. When | went
10 New York, and after my return
from San Francisco, during one of my
interviews with Mr.. Searles, the ques-
ton arose as to another refinery. /
informed him that parties were ready
to put up money for large plant, and
had offered me a position, or rather,
the management of such an institu-
ton. Mr.. Searles begged me to try
and head off the opposition if could,
and stated to me that if L would do so
he would show me a way by which L
could make much more money in the
shares of the American Sugar Refiner-
les Company than / could possibly
make in engaging IN business. He
stated to me that they were about to
form pool in the stock; that is, he,
and I believe Steve White and Jim
Keene, would be connected with the
pool. By Steve White L mean a
prominent broker of New York.
Searles stated that if would do what
he requested he would take care of
me, and said to me furthermore that
the sum which / might be able to
make would be in the neighborhOod of
half a million dollars. 1 told him
that / did not care to invest any
money, whereupon he said: We'll,
to insure your good saith in the mat
ter L think you ought TO invest, say,
at least 100000 1 agreed with him.
/ agreed to advance 100000 to the
pool, if L could manage it. I went
back to Philadelphia and told the par
ties that L would prefer not to enter
into the business in opposition
to the trust, and thereby
quashed the enterprise. The matter
hung for some time, during which
had many interviews with Mr.. Searles
touching this subject. He kept put
ting me off after frequent inquiries as
to when this pool was to be formed,
and one day told me he had reconsid-
cred the matter, and thought that
they would not carry it out. To this
replied to Mr.. Searles that consid-
cred his action contemplate. / rose
from my seat, left the office, and have
never seen Mr.. Searles since.
The plaintiff alleged that there was
no cloud on his resignation from the
Philadelphia Refinery and that there
was no question about his accounts.
He introduced the following letter,
which, he says, written at the time of
the resignation, fully explained a
cause:
PHILADELPHIA, Nov. "a, 1891.
DEAR FATHER: -The other day you
said that my explanation as to what
became of money paid by the Have
meyers was perfectly clear to you.
This afternoon Adolph informed me
that the matter was not clear to you,
and that you had instructed him to
investigate further into the matter.
He insinuates that have stolen the
money, and says that for my own JUS
LITIGATION 1t was necessary to make
detailed statement. All that 1 can
say is that every cent that has ever
passed through my hands is still there.
1t was my earnest desire to settle
everything as amicably as possible
and to resign my position only after
you had become familiar with many
of the details of the company; but /
can no longer remain in an Office to
be thrown in contact with him, who
Is evidently determined to put me un
der cloud, and bent on blackening
me in your eyes, in order that we
might part with an unfriendly feel
ing. He is not satisfied with the
breach he has caused in our business
and family relations, but now stoops
to this base end cowardly accusation.
/ therefore enclose herewith my resig-
nation.
have always worked in your inter.
est as faithfully, honestly and consci-
entiously as any man could do, and
no one deplOres more than L do the
way things have turned. In conclu-
sion, l want to say that / part with
the best of feelings toward you, know
ing full we'll that you are being
wrongly influenced against me, and
that limo Won will 600 thinnS in,
different light. Your loving son,
GUS.
In speaking about the different po-
sitions he has held, the witness said:
81 acted for some months as secre-
tary of the Hawaiian Commercial
Company. 1 do not remember the
years or months. / secured the posi-
tion at the request of Claus Spreckels,
he being president of the corporation.
Have you now stated all the posi-
tions you have filled from your birth?
1 was for some years a member of
the firm of j. d. Spreckels & Bros. /
don't recall the dates. It was a part |
neaship composed of John D., Adolph
b. and G. A. Spreckels, the latter be-
ing myself. We were in the shipping |
and commission business in San Fran |
cisco. / contributed various sums TO |
the capital of the firm from time to |
time, but cannot now recOIlect them. |
The books of the firm will show / |
think it was about $780, 600, together |
with the accrued profits for about six |
teen years. don't remember that |
any of us contributed any capital at |
the start. Each of the partners own
ed third of the concern.
When did you cease to be mem
Der of the firm?
January l, 1892.
Have you now stated all the occu.
pations you have followed, with en-
Oluments and profits?
I think / have.
When you entered the California
Sugar Refinery as clerk at the age OF
IL, had you any property Of any kind
belonging to you?
None whatever. When / was IS |
years of age my father gave me $1O,-
900. While acted as clerk of the |
sugar refinery bought for $500 an |
interest in schooner from savings |