The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1897-08-10

pOrtatOn OF raw sugar "a ANTICIPATION
OF the increase of the duty from Meth
Ing to 40 per cent ad valorern, and thu
realized profits to the trust OF $4,000,
oo0 The Leader says that this Is prac
ticaily whet is happening nov, "Th,
trust made heavy anticlpatory impoHt
of raw sugar. and 1t is estimated that
" will get a profit Of about $11 ,000,00
by saving the extra duty on that su
gar" So imports under the Wilson
bfA ot 10 cents less per hundred is ths
reason why the price of sugar trlsl
shares has risen. ft
Now, If the Dingley tariff bill re-
duces the tariff on raw sugar from 22M
cents to 121s cents per hundred pounds,
how can the sugar trust make S11,000,-
600 by importing raw sugar under the
high tariff of the Wilson bill? Liars
and fools may believe this sort of stuff,
an Intelligent man never Will. The fact
of 1t Is the sugar trust fixed the tariff
legislation on sugar, and this fact be-
Ing known to Wall street, and those
interested. resulted In the advance OF
the price of the stocks of the sugar
trust. And yet the Leader has under
taken The gigantic task of making peo-
pie believe that the sugar trust is get
ting ite wings clipped by the Dingley
bill in reducing the tariff on raw sugar.
In the same Issue of the Cleveland
| Leader Is the report from Wall street,
In dispatch dated New York, July 20,
which is as follows;
"The stock market, after consider
able early activity and strength, closed
| firm below best prices, but at fractional
net gains. The strength In Sugar, Lead
and Tobacco was IN anticipation of tho
ben9iits to be derived from the new
tariff. The. sugar company having
secured most acceptable schedule
passed by the house and presented to
the senate failed TO Justify the fears OF
o sensational break entertained by
some traders after yesterdays per
cent advance, and, on the contrary,
opened up ~ per cent. Subsequently
IL scored an extreme gpip for the day
OF AZ, establishing new record OF
l46M, and thereafter gradually decfin-
ing, closing with net gain of 2A."
In the following editorial from the
cleveland Plain Dealer, July 81, will
be found the facts in the case, which
can not be denied nor is 1t an over
drawn exhibit
i'Fhe sugar trust knows what the
rates in the tariff really mean as at
fecting the profits OF the trust, The
public can get an idea of the compare
tive value OF the various sugar sched-
ules 10 the trust by noting the changes
in ii,, .-A'ling price Of tho sugar trust
shares.
Under the existing tariff sugar trust
shares In 1896 went at one time as low
as 05.
"The Djngley tariff bin passed the
house March 81, and the next day SUI
gsr trust shares in New York were at
i1eA,
"rhe senate finance committees
amended tariff bin was reported to the
senate May 4. On the following day
sugar trust shares were at 1855.
During the discussion In the senate
the sugar schedule was again changed.
The bill passed the senate with the
altered sugar rates July Z. Next doy
Lhe sugar crust shares sold at 127.
Last week the bill was In confer.
ence and there were reports of changes
In the sugar schedule. July 1G tho
rust ehares sold at 1874.
ION July 10 the conference commit
zee reported to the house tho compro-
Mise bin, with a new sugar schedule,
asserted 80 be less friendly to the trust |
nan the senate bin. The pNcsage OF |
,he compromise was AN absolute GER
tainty, and the trust shares shot up TO
144h.
"Sugor trugt shares had gone up
more than SO pen cent on the price OF |
which they had sod under the Wilson
Gorman tariff; they had advanced
more than so per cent ca the selling
price at the passage CT the Dlngley
bill in the house. They had enhanced
N selling value over 10 Per cent since
,he day aI0ter the passage of the senate
bill; the price had gone up 10 points,
an advance of 8 FER cent
IN the selling price of three days be-
ore the passage OF the conference re-
port In the house on Monday
1T will be hard 10 make the people
,eHeye that tho sugar trust did not
write, or influence the writing, OF the
'ariois sugar schedules, from the orig
nal Dtngley bill TO the conference
committee report. That the trust lost
nothing In the successive changes can
20 inferred from the continuous I'D,
Vard movement OF the shares. The fact
hat the greatest jump was after the
'ePolt of the conference committee
arrles its own comment.
The claim that the advance in Tho
'alue In the Gmgar tru& shares is hut
me effect OF the general Improvement
. the market value Of stocks will not
lold IN the face of the evidence of the
took list. Here are the changes In tho
urreDt T11rpG on Who Neur V.,,,I- O. -.