The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-02-13

They. protect each other and all protect
| the finery."
The witness said that the factor got
renate OF ZIG OF cent per pound.
without that rebate he could not ex-
| iSt, presume?'
mo. sir! he would be forced OUT
| And you have to make an affidavit
| stating that you have and will sell sugar
| bate?"
| Yes, sir.
Did you ever get rebate?''
| mo, sir, never got rebate"
DO you expect to get one?'
Il DO not.''
Now, 1 understand that unless q
| grocer makes an agreement as factor
he, cannot liver
He cannot live, SIR
/ One of the articles in the factors
/ agreement is as follows
None of the sugar shall be sold OF
disposed of by you either directly or in
! directly for less than our daily quota
tions, with freight added from refining
| point to point of sale (as per equality
| rate book nor on more liberal terms
| as to credit cash discounts"
The witness said he got his agreement
| in October, 1895. He explained that he
| was thrown out of the grocery business
| by this rule, as he did not sign the affi-
davit,, could not get sugars, and conse-
| Gerry trade. He said he was now closing
| up his business in Albany.
"Yeu entered INTO contract with the
weeks after the contract was broken?''
| asked Senator McCarren, the new MEM
ber of the committee.
"Then you have been in the grocery
business since that timer"
"Oh, very little, sold some imported
| sugars When customer wanted a bar
Ten5 yau 0pa pad ana more neugh gdr It r. than when
| you bought it from American Sugar Re-
| filming Company?'
That's so. because I couldn't get the
rebate"
Michael Callahan. who is broker deal
| er in imported sugar, was called next
Has NOT the American Sugar Refining
| Company controlled the price of raw ma
| terial for the last three years?'
mo, SIR
rs not the American Sugar Refining
Company the only purchaser of the raw
material in this country?
mo. 1t Is only a large purchaser"
The witness said that that company
| could not control the market.
rs it not true that last year the supply
| importers and brokers bought largely in
| other directions until they had accumu-
lated large supply?''
Yes, sir. that is SO, last spring"
Did not the American Sugar Refining
| Company then cause depression in the
market by suddenly ceasing to buy and
were not several brokers and importers
| injured in consequence"
Some people were hurt, but the Amer
| responsible for it,
DO you sell sugar to the American
Sugar Refining Company"
Yes, sold them 500,0 900 tons of sugar"
You practically sell them one-Quarter
| of their purchaser
James S. Connell, a sugar broker, was
called next. He testified that he sold
sugar to the American Sugar Refining
"To what extent?"
ITO about one-quarter of their pur-
Company controlled the price of the raw
material.
.'rhe, American Sugar Refining Company
| controls the market to an extent" re-
piled the witness. guardedly.
Now. do they not control the price
they, buy the sugar from your
cept or reject it,
THAT is fixing the price, is it not?''
rs there any competition for raw ma
terial?
Yes, sir, I have often bought cheaper
at times than others in the market, and
cheaper than I did,
Was that real competition?''
YES SIR"
is it not fact that the American
gkouSdT heHillnS company buys largely
| abroad itself without using brokers?''
They bought largely in this way this
year"
You don't deny the fact that the buy
ing OF nen-buying of the American Sugar
Refining Company controls the product
here?''
TT has its effect on the market,
What wv at would YOU be be the effect if the COM
I'VE would not do any business"
The witness said there was more COM
petition among sugar spectators last
WAS not the decline in price last year
caused by the cessation of the American
| Company from buying?"
"It undoubtedly had its effect
The witness said that the brokers could
personally speculate In the future de-
mands of the American Sugar Refining Co.
But that company has the broker and
| speculator in its power if it refuses to
buy?"
sAnd you personally would be forced out
of business If the company did not buy
from You, controlling as they do, eighty
per cent. Of the market?'
'sYes, sir"
"And what is true of you is true of
every other broker?''
IT suppose so.''
E. s. Beardsley, another sugar broker
then took the stand. He was asked if he
terial, and he said he did, giving the
names of several competing companies.
do you sell sugar to the American
| Sugar Refining Co?''
Eyes, sir"
"To what extent?"
ITO about one-eighth of their produce
Does not the American Company fix
the price in this country?'
mo, SIR
WHO fixes it them"
The price of sugar is fixed in Europe -
! chairman Lexow looked surprised at
| this answer.
rs. Us there ,, free and fair competition"
business?''
mo, sr.''
sIs the reason for that very fact that
you have but one consumer who can fix
the price, and does it?"
mo, SIR
DO you know any other business that
has not auction sales except the Amer
lean Sugar Refining Company?"
Personally, do not"
DO you know of any instance where
the American Sugar Refining Company
has paid more than other companies?''
Il do not know of any positively, but I
think there have been instances
NINETY-5EVEN's RECEPTION.
High school Graduating Glass Dances
In HasbrOuck Hall.