New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-06-11
Colgate &C.,,
Oldest and largest American
Soap Makers and Perfumers.

lean When figuring the amount that toM shG Snd
refined must be considered rather than the Ger;
With grsa. emphasis Mr. Jones .o Gsee eG
snon before f GemaR S S to Se
cent per pound on testing 20 eeee above
an sha. aHd Of of eaS
fined y viii not propose ns ~, a Relieve it is
sufficient. and that the people are entitled 10 ke"
exactly S what 1t is pr G Jones' no 's Speech was
voted minute cxpanaticn Of the ,schncSiiSs
Of the he P rad TS & the Of
bill gave "an uncomfortable adyantage 10 ,ne oeao
The Of ono eeHa ws
sHgarsHwould bring the margin ba OF re'''e'' o'""
Mr. White asked what course was 70 De pu HyspS
as to the Hawaiian provision OF tho parasfapH
o To this Mr. Ason replied that the proy,f;SS
in the he bill ID stoSa AT Or later The
mttse might and might u nS5 be sent to the COM
m S1iInc a an Foreign ore gn0 Reiatiors
so that the Tariff bill may in time get to the
Committee on Foreign Relations" commented MI
NO one can tell" answered Mr. Allison, .wn az
committee the bill will go 10 before we complete H.
MIR. VEST ATTACKS THE TRUST.
Mr. Vest followed Mr. Jones in criticism Of the
general features OF the sugar schedule 1t had al
was been he said the Cape IIatteras OF tho tarin
debate 1t involved the whole question OF the ex-
istence OF the gigantic Sugar Trust when had
absorbed refinery after refinery until II was SUI
prcme and a.l-powerful in the field The Lexow
Investigation had disclosed the enormous profits Of
this trust It showed he SAID capa Of s,o %I M
aggregate of sl50G0oo with profits OF Il per cent cent
s common stock and per G cent ON sde r prs
AT this point Mr.. Caffery said he desired TO show
s 61 e read Ini the lowest and the highest
mark Of the stock and the daily sales for a long
period. showing the flourshing condition OF the
What effect on the stock" asked Mr.. White,
had the Introduction of the last amendments 10
IAN advance Of five points," answered Mr.. Vest.
White and Mr. Caffery as to the effect of the pro
posed schedule on the price Of Sugar TTHs 81 STOCK 6S
effect of action here Sugar stock. said he.
waving his arms. we may be In doubt mere Re- oq a.
among anon the he's srecuaors in Wall Street They know
posed schedule will have. There is no question
about the correctness of their conclusions. and
within thirty minutes after the new schedule was
agreed on by the caucus. They know whether this
the Dingley bill schedule. and in two days they
ran up the price from Us to l2.. have heard
this schedule stands. Sugar will go TO $50 share"
st an the 4S hs sscn
stood it. He had ascerteined; and was PREPARED TO
the trust on sugars testing 96 degrees in the present
law was Si.lc9ths OF cent pound in the Dinghy
C2-1G)ihs and in the schedule agreed by the
kepnhcan Senatorial caucus 67,lohhs In con on
luded the public in the interest Of this gigantic
Mr. Lindsay offered an amendment to strike out
the dinerential on refined sugar. 49,
Mr. Morgan at this point gave notice OF the fol-
lowing amendment. TO be offered at the proper
time
A tax of one cent per pound is hereby levied and
product of any refinery of sugar in the United
States; but the persons corporations engaged in
there employed less than $1,000 OF cash capital.
and who are not connected in business by agree.
ment with any other person or corporation engaged
in refining sugar. are EXEMPT from such tax The
as they are applicable 70 the subject Of this enact
ment, shall apply 70 the collection OF the tax I'm
son or corporation shall be exempt from the tax on
sugar. refined at any sugar refinery. who shall not
the rules and reeulaiions 70 be prescribed by the
Secretary of the Treasury for the execution OF this
law.
MR. CAFFERY'S SPEECH.
Mr. CaTery. Of Louisiana, followed. The old
fight between the producers OF raw sugar and the
renner. which In this country the trust was.
he said again lie spoke Of the scandal of 1894
over the schedule produced by the rapacity Of the
Sugar Trust II to be repeated now. There
was consumed In this country four billion pounds of
cent pound, as this schedule proposed, that would
mean $2oW0O)0 20 the trust. Here then. was tho
cause which brought this great corporation TO
Washington to look after its interests. He dwelt on
the advantages enjoyed 10y the Sugar Trust and
read at length the testimony given by Mr. Have
never before the Senate investigating committee
This disclosed he said. that Mr.. Havemeyer freely
admitted that the purpose of this confessed monop-
oily 10 control the market ana run up the price
to the importing point They not only controlled
the price. but they advanced the price according
10 the testimony Of Mr.. Havemeyer. Mr. Cahcry
said this advance would aggregate $l5,cvl1@. the
advance being three eighths Of cent per pound ac-
cordng 10 Mr. Havemcyers testimony The trust
| never lost All IL wanted sufficient tariff TO
keep the foreign producer. and then II had the
American consumer at its mercy, 10 be ilecced AT us
hv any diffcrentia under one-cighth OF cent per
pound and yet II had thrived under such rate
The ingenious Senator from Rhode Island tAldrich)
those Of a year would have given far more equ.-
table basis.
NJ Caffery discussed the sugar industry in Ger
crushing every engaged in II. because 1t was
reared artificial basis. He quoted recent CON
he was speaking the first secretary of the German
Embassy entered the diplomatic gallery ana was an
Interested listener.
MIR Caffery then took up the sugar production Of
The sugar producers had beseged him TO place
high tariff on their product When the Wilson Dill
considered he had voted Tor duty OF ~ PER
cent because sugar had been recognized as legit-
mate producing article. No one up to That
time had questioned that sugar came within the
strict letter Of the Democratic doctrine Of tariff
impressions as TO the need or an excess
sivc duty. Under the 80 per cent ad valorem duty
OF the law Of 1916 the production or sugar had IN
creased enormously. reaching i95,0N0oO pounds IN
1875 q per cent duty had shown like results 50
,bot he did not believe 100 per cent or an ~ per
cent duty was necessary TO keep the Louisiana
At5 O'clock the bill was laid aside.
CANADIANS WANT AN EXPORT DUTY.
| tive meeting OF lumbermen. bank presidents and
~ md