The record-union., 1897-06-11
PRINTING D. s0aIIT0H sia y sTsze1. = Co.
- ORDERS FROM THE COUNTRY PROMPTLY FIttED-'


LAS to the question of the effect of
our action on sugar stock" said he,
waving his arms, I'VE may be in doubt
here, but there is one place where there
is no doubt-that is among the specula-
tors in Wall street. They know imme-
diatey and instinctively what effect a
proposed schedule will have. There is no
question about the correctness of their
conclusions, and they put the price of
sugar up s. share within thirty min
utes after the new schedule was agreed
| on by the caucus. They know
whether this schedule is more favor
able than the existing law or the Ding
| ley bill schedule, and in two days they
ran the price up from 11S to 124 I
| have heard predictions from those who
ought to know that if this schedule
stands sugar will go to $50 share
| Proceeding Vest described the new
sugar schedule as ingenious and artis-
tic. The spectators understood it. He
had ascertained and was prepared to
prove mathematically that the protec-
ton given the trust on sugars testing
90 degrees in the present law is 81 cents
a pound; in the Dingley schedule, 80; in
the original Senate bill go and in the
new schedule agreed on by the Republi-
| can Senatorial caucus, 81.
In conclusion Mr.. Vest declared that
the schedule deluded the public in the
| interest of this gigantic monopoly"
Mr.. Morgan at this point gave notice
of the following amendments to be Of
fered at the proper time:
"A tax of 1 cent per pound is hereby
lnxyio6 hp qCCnGCp6 and roll
lected on sugar that is the product of
any refinery of sugar in the United
States; but the persons or corporations
engaged in the business of refining su-
gar, in whose business there is en-
| poyed less than 100000 of cash capi-
tai, and who are not connected in busi-
| ness by agreement with any other per-
! son or corporation engaged in refining
sugar, are exempt from such tax. The
| laws for the collection of tax on to-
| bacco, so far as they are applicable to
the subject of this amendment, shall
| apply to the collection of the tax i'm
posed by this Act upon refined sugar,
| and no person or corporation shall be
exempt from the tax on sugar refined
at any sugar refinery who shall not
| clearly establish the right to such ex-
emption under the rules and regula-
| tions to be prescribed by the Secretary
of the Treasury for the execution of
| this law"
Mr. Caffery of Louisiana followed.
| The old fight between the producers of
raw sugar and the refiners, which in
this country was the trust, was, he
said, again on. He spoke of the scan
dal of 1894 over the sugar schedule,
produced by the rapacity of the sugar
trust. 1t was to be repeated now.
There were consumed in this country
900 000, 900 pounds of sugar annually.
If the trust was to receive half a cent
a pound, as this schedule proposed, that
would mean S20,000000 to the trust.
Here was the impellant cause which
brought this great corporation to
Washington to look after its interests.
They not only control the price, but
they advance it, he said.
When ) o'clock was reached the bill
was laid aside.
Mr.. Pettigrew made inquiry as to
what had become of his resolution di-
recting the Committee on Pacific Roads
| to inquire into the issue of land pat
ents to the Pacific roads.
| Mr.. Gear of Iowa, Chairman of the
committee, answered curtly that Mr..
| Pettigrew would hear in due time what
action the committee had taken
At $40 the Senate held an execu-
| tive session, and then adjourned.
A size in collars is 1 inch.