The San Francisco call., 1896-12-21
HAVEMEYER AND
THE ARBUCKLES.
New Turn in the Merry
War Between the Great
Rival Concerns.
The Sugar Trust Trying TO Kee-
the Coffee and Spice Men
Out OF Competition.
Now the American Refining Company
Secures the Woods on Mills, but
May Compromise.

NEW YORK, N. Y, Dec. 2o.-If the
report that the American Refining Com
pany, known as the sugar trust, has Sc
cured the Spice Company of Toledo be
true it is not improbable that the result
may be deal between the trust and
Arbuckle Bros. The Arbuckles may
abandon their intention to build sugar
refinery in consideration of the sugar
trust turning over to them the Woolson
Company. The Arbuckles proposed to
build a refinery with capacity of 1000
barrels day. or. practically, COG, ,0oO bar
reis year. This is a big trade to lose.
There would be more money for the trust
IN keeping it than in going into the coffee
trust and grinding business in opposition
TO the Arbuckles. There is some reason
for the trust engaging in the distilling OF
spirits, for it can utilize the product OF
its sugar re6neries, which now largely
goes to waste. 1t has not yet started up
its distillery in Brooklyn.
The fight between the sugar trust and
the Arbuckles began year ago. About
that time the Arbuckles particularly
wanted large lot of sugar for their coffee
trade, which the trust could not or would
not furnish. The Arbuckles were pro-
voked and at once began planning to
make sugar for themselves. They opened
negotiations for the purchase of the Cam
den IN. J.) sugar refinery, which was in
course of construction and was recently
finished. The trust stepped in and bought
the refinery, whereapon the Arbuckles de-
clared their intention to build refinery
oH t.. hair he in L..
lyn. The trust decided TO make war on
the Arbuekles. 1t fitted up one of its idle
retneries with a coffee-roasting outfit.
This outfit stands idle to-day, because the
trus. found better move could be made
by buying out the Arbuckles' principal
competitor, the Woolson Company. Be-
fore this was done, it is said, the trust
learned that the Arbuckes had under
taken bull deal in coffee and had loaded
up with a large lot of green coffee. The
trust saw its opportunity to force down
coffee. The first drop took place last week.
The sugar trust has offered to exchange
its common stock, dollar for dollar, for
the stock of the Baltimore Sugar Refinery,
and to pay par in cash Tor the preferred
stock. The offer has been accepted. The
trust owned ma aiority of stock of the
Baltimore refinery, and when it put in its
own directors and shut down the refinery
the minority stockholders raised a fight.
CHICAGO, ILL, Dec. 20-A special:
from Toledo, Ohio. says: The immense
deal by W hich the sugar trust comes into
the control of the Woolson Spice Com
pany has been closed and the money paid
over. Notwithstanding the fact that
Havemeyers agents have been In Toledo
for month, nobody but :he directors of
the Woolson Company was aware of the
fact. Lawrence Newman has been in
New York for week to close the deal and
the transfer. One singular fact is, not
withstand1ng the big price paid, the
Woolson people were forced into making
the deal. Havemeyer desired to make
fight on Arbuckle. and to do it it was
necessary he should meet him in his own
field-coffee.
When first approached the Woolson
people asked $500 share. Havemeyer
refused to treat on such terms. He would
give $1,000. Havemeyer was willing to put
81, 600 900 or thereabouts in the purchase
OF q club with which TO thrash Arbuckle
This was some weeks ago. 1t was found
that the book value of stock was over
$1,000. He threatened to establish coffee
plant and go into business on a large
scale. He would cut prices so that the
competit ion would hurt the Woolson peo-
pie quite as much as it would the Ar
buckles.
Mr.. Newman went on to New York and
saw Mr.. Havemeyer and an agreement
hoH hot
people should get 100 of the 1900 shares
of stock at $1150 per share. So the sale in
round mum bers was $1,265, 900 for eleven
eighteenths of the entire stock. So Sc
cretly were the negotiations conducted
that it is said smaller stock holders were
not aware of the deal until they read it in
the papers yesterday. 1t is understood in
Toledo that when Havemeyer gets
through with the Arbuckles the property
will revert back to the Toledo owners.