The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-02-17

examination was continued. Mr.. Searles
said the margin of profit between the raw
and refined material during the five years
preceding the formation of the sugar
trnst was .Sj34, and during the five years
subsequent l.96. He admitted that after
the trust had been formed the average
price of raw material had dropped 9j1
per cent. per pound, while the charge of
refining increased .l51 per cent. per
pound.
MltneSS sad there was very little profit
in the business for the five years before
the trust WAS formed. and denied that
there was seven fold capitalization of
the stock after the consolidation of the
rciineries.
You said yesterday that it should be
the policy of the legislature to encourage
capital instead of driving it away. and in
Investigations that drive capital out of
the State. do you consider thas capitalize
ton in the way you have mentioned,
where the consumer is not considered,
and whereby the monopoies or quasi.
monopolies are benefited, should not he
interfered with by the legislature:''
II can scarcely remember all that ques
ton, said Mr.. Scarles
The stenOgrapher read the question
over and Mr.. Searles replied
I'm so far as that question refers TO the
american Sugar Refining Company, do
not see any objection to it,
Senator LeNow then put a number of
questions rs to whether the consumer can
get the benefit OF the reduction in the
price of raw material so long as aggrega-
tons of capital designed to control prices
are permitted to exist.
~ can't imagine such n thing existing
don't believe the legislature can regu.
late such IL state Of affairs. As said be-
fore, the law of supply and demand will
regulate all these things in time
In reply TO another question the wit.
ness admitted that the consumer had
not received the full benefit of the de.
crease iii the price of raw material
when the nation permits the creation
OF monopoly or quasi.monopoly do you
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 its econ.
omyyn
If the monopoly exists think there
should he some such cbliyation.r
do You think the American Sugar Re.
filming Company, as the monopoly or
uasi-monopoly it has shown itself TO he
here, should be fostered in the absence of
the two considerations have mentioned
in my former questions>''
and snapped mack
1.-The American Sugar Refining Com.
pnny is not ii monopoly or II quasi-monop
oily III any sense of the word. The Amer.
lean Sugar refining Company is in the
interests OF the consumer, and there is no
reason why the State should interfere
with its business in ary Particular"
Senator LcNow then went OF on another
tack. Mr. Searles Lad hot brought the
books that the committee wanted and it
was stated that the directors OF the COM
pany would meet To morrow, when the
demand OF the committee would he laid
before them.
Mr.. Senrles would not he in town on
Thursday, but Mr.. Hnvemeyer would
bring to the committee the answer of the
directors.
In reply TO further questions Mr..
Searles expressed the belief that the cost
OF sugar to the consumer would he half IL
cent per pound greater without :he com.
bnation of refiners; that there was as
much, i; not more, labor employed i'm the
business now than before the consoljda-
ticn, and that wages were increased 10
per cent. after the formation of the trust.
"Did you say that the trust was formed
because of illegal combinations of labor:''
ii said that there were combinations of
labor which melted strikes
And cse..strikes were for increases
Yes, sir
This closed the examination of Mr..
Searles, who left the stand smiling.
Lawson \. Fuller was then recalled
your competency as AN expert in
sugar seems to be questioned Row
please state YOUR experience, said Scna-
tor I.eXow.
Expert Fuller said between 1860 and
1850 there were Is sugar reiinerics and
that they en. ploycd between 25,000 and
80, 900 men. Mr.. Fuller said that II good
many of these refincries went out OF bus.
mess. THROWN" between TO- 000'and - 900
men out OF employment.
DO you think there were more men
employed then or now"
well should Judge that forty. eight
re'ineries would employ more men than
two refincries.''
y moment later he added:
I'll the sugar trust was not formed to
reduce expenses, I don't know what it
was formed for
Mr.. Fuller said there was more ma.
chnery employed now and consequently
less men.
'Nlr. Searles stated that the trust was
formed to get rid CT weak men in the
business; but | say it was formed 20 get
rid OF honest men, said Mr.. Fuller.
Mr.. Fuller then told how there was an
Investigation before Congressional COM
mittee in 1881 in regard to charges made
by witness that certain renerics got
their sugar cheaper through the custom
house than others
"llow did the committee report.'
"Oh, il was not much of IL report
T.ey could not get at the facts Mr.
Fuller then paused II moment and said
Nov ! want to say that if YOU give US
honest Senators we will have cheaper
sugar. am in favor of clcctirg men to
Conrress Mhn Will lcnislnte in fnXnr of