The sun., 1897-02-14
.ny .ub.t.ntl.lly a. the prio.f Al

Company substantially nx the priosf Alt
o.HT6ey can't compel you TO submit 10 them
and 70 self to them your product at whatever
price they make2 A.-They cannot.
p.a9s %p UPON SS va h.ys
large. stock Of sugar and very little DC.
we have a very cry small stock Of sugar and . very
great demand for 1t, the prices are necessarily
sOn. como now" said Chairman Lexow. COAX
ineiy. is there any active and actual competi.
tion between the American Sugar Refining
co%9ygsny al. and the i.IS 91is,deGsr Mr s,a,n.
Now. have you ever known OF any actual
competition In raw materially" asked the Chair
"Ycs. air. ! have known some very fierce COM
petition" said Mr.. Connell.
Q.-But thu outside concerns. they pay the
same always that the American Sugar, Refining
cc%peyTy does, .r,1.,ly ANS .r no. e. ALI a.
pends on the market. II there is great deal OF
sugar on hand 1t cheaper; II there is not much
Q-You said while ago that the American
Sugar Refining Company permitted Its rivals to
buy SpEsr Sieapsr Than they h themselves bought
simply this. that whom the American Sugar Re-
nning Company 10 not In the market the other
houset have not their competition. aud some
Q.-What proportion of the total amount of
raw sugar used is imported Al should say
Q.-what percentnge Is imported now1 Al
ehoud say fully that, although there is little
now.
MRS. PARTISoToN AND HER BROOM.
The bos, hunter was persistent; He was cor
law Of supply and demand. or am. other old
was trying to deceive him. so he went at him
again. Now" he said. TO tho extent which
they buy or =, refuse to buy they hI tho price,
."well," said Mr.. Couneii. "if they arc not In
tie market then the competition for tho raw
mn mr. RtDl Ia TAhh aAI md 0tn all I'm MIL
ihsy are out the demand is not so great"
Reclining Company has been buying largely
abroad without tho assistance Of the importer
DC por,iHs I % ,hem.ely.s ,his yca sV0 '0"' some I'M
T." Now" said Chairman Lexow, still moro
coaxiugly. isn't It n fact, that tho American
the price Of sugar last April aud Mayr"
1T is not fact, said Mr. ConnelI.
months and cease buying entirely in these
monthsr Al think they did.
,Q.,Now. didn't that affect tho pricer Al
think that when large competitor or large
purchaser withdraws absolutely from the
market that has come effect on the price; yes.
practically controlled the price2 A.-So. II tis
not.
80 per cent, Of the output factor In the market
that controls the price within linits1 A.-As II
said before. when they are not In tho market
and their vast demand has ceased. then IL there
is great quantity on hand the price goes down.
II there 10 only small amount OF sugar on
hanI; their Withdrawing from the market has
senator McCarren-In your experience a. .
ts, b.e h. 10 pas. ny Rnp syer
panyf A.-Yes, many times. There has been
Refining Company has had to pay higher prices;
tne same as other companies have to make
o. Tho regular i'm porter. buy for future de-
liveries. do they notr A.-fss. and In this last
slump that YOU were talking about. IN April aud
May last year. great many persons lost money.
the American Sugar Refining Com
pany. They had bought at u supposedly low
sugar went much cheaper. They all Lost.
Now" said Chairman leIow. this time
decline III price was brought about BY this
Rre9, z, eonsern once @ s,oppinG ,bTynsr ny .u
Q.--ls IL not n fact that when consumers
don't buy that has IN effect on the msrket2
This proposition seemed to strike Mr.. Conneli
that ~ people stopped buyinR then the sellers
naturally would stop selling. and In that way
he said; is entirely a question of supply and
.Xh." said Senator LeIow. seeing q treat light.
= = then 4 they are not In the market there Is no
..'oh. yea" said Mr.. Connell. there is demand
gree. somstimes there ia a larger demand.
sometimss = smaller demand.
dsseiopsd ia April and An May last yeasi 1IH
they arc not in tho market and there IA lots OF
uursr In the market there Is very likely to be
Now,"' said senator Lerow, with crushing
force. they have got you IN tnelr power,
buy your sugar or not! They have tho jobbers,
and !hs ., ,impor,sWs: port r. and n the Sroksfs" - ST., w
" sometimes they have us. and sometimes we
"oh!" ssln senator I.e1ow. 1T 1. simply
We'll" said Mr.. Council. ;" we usually buy 40
that We can hold out. You see. we can hold our
they are bound 10 run short and they have got
20 come to US In time"
Well, then. YOU admit that H. they ceased
marset: don't you admit thntr'
Why. OF course" adj Omitted Mr.. Conneil. "if
couldn't dispose Of It,"
'FonE GOD. THEY ARE ALL OF 4 TALE.
Then the pack went after him full cry SEN
Parsons waited to know thHt. Assem- byman
Warner wanted to know something else, and
they nil wanted to know something or otner.
The pack was still in full cry when Mr.. Conneii
ieit the stand, and things looked squally for
Mr.. r.. +. Brardslcy. the next witness.
Mr.. Beard-Iey is another broker who deals In
Imported sugar ana sells to the American Sugar
Esnnins its .,n Company: The pack % stopped aud
exist In the demand for raw sugar p" he asked.
What are the names Of the competitor. of
the Aperican Sugar Refining COMPANY 7" asked
Nir. LexoW MT. beArusloy rAttlou on hAlf
dozen names.
Ali these companies are outside Of tho So
called Sugar Trust are they not? A.-Thoy are.
The statement WAS made q moment ago"
sa!d Senator I.eSow." and think IL WAS made
erronsously. that no per cent. OF the raw sugar
goes to tho American Sugar Refining Company.
think II is more than NJ per cent. when you
exclude tho Western sugar Refining Company,
o ne-half OF the capital stock Of which is owned
by the Americ lean sugar Refining CnrnpAny."
do not think II is more than 80 per cent"
said Mr.. Beardsley.
Q.-What per cent. of tho business do you do
Al do probably one-eightn OF the whole and
about three-Quarters of that one eighth Ia with
the American Sugar Refining Company.
Q.'-Have You ever noticed competition In tho
price Of sugar between companiesf A.-Of
course have.
Q.-when A.-Day before yesterday.
Y. Competition over tho price of raw ma |
torlnlr A.-Yes. sir. ! had u hpo competition |
OH between the American Sugar Refining Com
pany and Il. Ii. Howellss Son & Co, and Howolls |
beat the American Company out by n thirty
second.
Q.-.lsn't It n fact that tho American Sugar |
Refining Company hxes the price in the United |
Statrsy A.-Crrtainiy not; the pr.oo depends |
upon tho demand.
Q.-Weil. don't they actually FIX tho price
here A.-No. Europe fixes the price.
Q.--Do they not fix tho price by withholding |
heir OrderA Dr ~ RI N