Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-02-16
SEARLES IESTIFIES,
Questions Regarding Competition on
the Sugar Market.
OBTAIN BOOKS LOST SIGHT OF.
Witness Thinks II Unfair to Flace the
"MlnOf" Details of the Hu,l.
ness Before lhe iubilc.

NEW York, Feb. l5.-John E,
Eearles, secretary and treasurer of the
American Sugar Refining company,
was present today when the joint
legislative committee on trusts re.
sumed its sittiEgs.
Mr.. John Il. Searles was placed on
the stand ana admitted that the mar
gin OF profit between raw and refined
tugnr had increased during the last
three years.
The questioning continued along
these lines, and nm efJft was made to
elicit from Mr.. Searles his Knowledge
Of the effects OF the consolidation of
the fifteen companies into the Ameri-
can Sugar Refining company upon
the trade and business of those not In
the consolidation.
Mr.. Eearles stated he had no knowl-
edge Of the affairs of companies out
side the American.
Senator Lexow changed his inquiry
to another direction, anu brought out
the Information that during the past
year the Green Point Refinery, one in
Louisiana, the Continental IN Boston
and the De Castro were closed, anu
that the purchase OF the United States
Refining company's plant In Camden
was in contemplation by the Ameri-
can Sugar Refining company.
"Well, what In the world prompts
you to contemplate the purchasi OF the
United States Sugar Refining com
pany ut Camden2" exclaimed Mr..
Lexow, "when you don't use go per
cent OF your refineries now?"
ave may be able to utilize that
property for tho interest of the COM
pany," was the calm reply. He did
not think the acquisition by the COM
Iany OF additional factories tended In
the direction OF Gripping composition
On the sugar market.
slow much does the American
Sugar Refining company pay annually
TO maintain the unworked factoriet?''
81 have no figures TO answer that
question. 1t enters into the expense
account Of the compapy."
Mr.. Begrles denieu having any
arrangement with Individual whole.
sale grooers, but admitted having IN
agreement with the factors east Of the
Missouri in relation to the rates OF
freight within certain epecified limits.
He asserted most positively that the
had nothing TO do with the prices
formulated by any other company.
81 have only to reiterste what l
have already attested to, and desire
again TO say, we do not compel compa-
MES competing to follow our prices, nor
90 we command the regulation OF
prices in the S0uth or East"
"Now, Ia 1t u fact that the factors
contract coupled with the wholesale
KrOcers' rules, has absolutely destroyed
competition after the product leaves
your hands?"
"Only 80 Iar as other retineries see
fit to adopt our prices"
He admitted that the retailers are
obliged to sign the contract, and are
allowed the BIZ per cent rebate.
Senator Lexow questioned Mr..
Searles as to the whereabouts OF the
certificate books OF the original com
paDy. To the Same question put In
various guises the reply was dis
avowal OF any knowledge OF the loca.
ton OF the books.
HThey have been lost sight OF" sale
the witness. "They were obsolete anu
OF no USE"
The inquiry showed that they alone
contained the figures showing the in.
crease OF the ~, 100000 to Sl3,OO0,OOC
of capital stock, and they, together
with all the minutes and records o
the old trust, are gone.
Senator Lexow inquired II Mr.
Senrles has with him the minute bool
OF the sugar trust.
81 have not" he replied. 18th,
directors declined to permit me e
present them here. l have no pOwel
In the matter"
Mr.. Lexow said the whole board o
directors would be subbp laed TO an
swer and produce the books.
'Is the increase OF large corporation
disadvantage to the workingmen?'
asked Mr.. Ltxow.
mo, cir. If we had less Legislation