Evening star., 1897-02-16
sEARLES AGAIN TESTIFIES.
secretary of the Sugar Trust AxaiI
ON the Stand.

ON the Stand.
NEW YORK. February 16.-Three OFF,
GERS of the United States Rubber Company
were in waiting to be questioned by the
joint legislative committee on trusts today
when that body took up again the exami-
nation of John E. Searles. secretary and
treasurer of the American Sugar Refining
Company. The rubber magnates were
Charles X. Flint. treasurer, and James b.
Ford and NJ. c. Martin. directors.
AS Mr.. Searles resumed the witness chair
he was greeted with the question by Chair
man Lexow:
Have you those figures with YOU Mr.
SearIesr'
Il have" Mr.. Searles replied.
At this point VIM. NJ. WINS, counsel for
the rubber company. asked that his clients
tee was ready to call them to testify. Sen
ator Lexow said they would not be needed
before nooE-
Senator Lexow then questioned Mr.
Searies as TO the margin of profit between
the raw and refined material during the
nve years preceding the creation of the
sugar trust
MIR. Searles, in reply. said that the aver
ceding the trust was .S534 Of a cent per
pound. and during the five subsequent
it was 1-96 per pound
Is IT not true that the average price of
the raw material after the formation of the
trust dropped .957 per cent pound, while
the Charge of the refiner increased .157 per
cent per pound?''
Undoubtedly. sir
Mr.. Searles admitted that the consumers
profited nothing through the difference In
margin and contended that as the wears
preceding the trust were years of disaster
in the sugar business there could not be
any tair basis of comparison placed in re-
gard to the figures for the five years sue
ceeiing the formation of the trust.
In reply TO another question. Mr. Searles
said there was no sevenfold capitalization
of the stock of the company. At this point
Se lator Lexow said he thought 1t right
that the statement made by MIR. Searles
yesterday. in which he charged that in
Sestigations of the present kind drove capi-
tai out OF the state instead of inviting it,
should not go unchallenged
Senator Lexow propounded a long quas-
ton 10 MIR. SearleS on the subject and the
witness, with broad smile. said he faile,,
TO grasp the context of the senator's oues-
ton. which had to be repeated by the
stenographer. This was done. and Mr.
Searies adhered to the purport of his state
me1t of yesterday.
In reply to another question Mr. Searles
testified that aggregations of capital did
much to develop economy. and contende1
that the consumer mad benefited by the fall
OF price in the raw material and con-
tributed little to the manufacturers
Where the state in the nation permits
the creation of a monopoly. do you not
consider that there IS at least an under
lying obligation to give labor ON the one
hand and the consumer on the other an
adequate share In the benefits Of econ
omy?''
Il can scarcely follow your question as
the basis for an answer and do not under
stand II as put replied the witness.
In reply to another question. Mr.. Searies
said he could see no reason why the state
should interfere with the business of the
American Sugar Refining Company and In
the same breath intimated that there were
number of companies and monopolies in
this city that had no legal right to exist