The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-02-09

New York, Feb. S.-The joint COM
mission appointed by the legislature to
inquire into trusts and monopolies in
the state of New York, resumed its in
vestigation this morning. Secretary
Searles of the American Sugar Refining
company was on hand early.
Immediately on the assembling of the
commission his name was called by the
sergeant at-arms, and Mr.. Searles
answered, Here"
Before you take the stand, Mr..
Searles, we would like you to explain
why you did not appear before the
committee on Friday and Saturday last
when you were subpoenaed," said Sem
ator LeXow. =
Il was on the way to catch train
to keep an out of town cement,
when l was served with the commit
tees subpoena. Isasked Mr.. Parsons to
come before the committee and explain
the reasons for my absence said Mr..
Searles.
statement.
1T seems to this committee he said,
that it's subpoena is superior to any
business. This committee makes no
distinction between the millionaire and
the beggar, and insists upon the same
obedience from both. The committee
will not pass upon the question of con-
tempt until the end of your testimony,
and see if it be helpful to this COM
mittee."
Mr.. Searles was then sworn, and re-
lated to the committee his various
business connections.
Mr.. SearleS was sharply questioned
by Senator Lexow concerning the pur-
chase of the North River Sugar re-
finery and the formation of the alleged
sugar trust, but the witness would
make no admissions of the charges of
stock watering, etc., contained in the
senator's question.
Chairman LeXoW said, significantly,
that the committee would have to get
the books of the companies that were
consolidated into the trust, no matter
who held them, when the witness said
that the American Sugar Refinery COM
pany did not hold them.
Witness said the total consumption
of refined sugar in the United States
was 100000 tons annually, and that
his company produced about 1900
of the total. The American Sugar Re
fining company fixed the price because
they fixed it so low that they under
sold their competitors. Witness would
not admit that his company controlled
the sugar market.
tention of the witness to his testimony
before the senate committee at Wash
ington, when he said that the object
of the consolidation was to control the
output of sugar and shut off COMPETE
ton.
How do you explain your testimony
before the senate committee"
oh. that must be read with the
context"
Is it not fact that where you have
competitors you cut down the price in
their particular locality and force them
to the wall?"
mo, sir: it is not'
But you control the price of sugar.
I'VE only control the price of our own
sugar, and l disagree with any other
statement
grave and said: I'VE now notify you
formally to produce the minutes of the
American Sugar Refinery company di-
rectors meetings and also all data and
memoranda in relation to the purchase
of the four Philadelphia refineries in
1892. [ will ask you now whether you
require subpoena duces tocum, or pro-
duce them without it?''
Mr.. Searles paused a moment and /
then said: 1.-The books of the company |
are not in my control and I have no /
right to produce them. l will submit /
your request to the directors
Are you personally willing to pro-
duce them?"
Personally. I have no objection, but
have no right to produce them.''
Chairman LeXow then put a number
OF questions to the witness regarding
the market prices of refined and raw /
sugar. The witness said that three of
the refinerieS absorbed in the consolida-
ton were abandoned, because it was
found that the same amount Of sugar
could be manufactured more econon-
cally, and the work was transferred.
Chairman Lexow then informed Mr..
5earles that he had finished with him
for the present.
Chairman LeXow said that the whole
board of directors would be summoned
T necessary. In order to ascertain lust
what books were wanted, an adjourn
nent was taken until Saturday morn
ng at 9 O'clock
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