The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-07-17
BILLIONAIRE.
Rockefeller is Now King of the
Sugar Trust.
If There is Anything More OF
the United States
This Elephantine Magnate
Wants Let Him Speak.
HAVEMEYER is OUT.
The S3OO,OOO,OOO Oil Trust,
$2OO,OOO,OOO Sugar Trust
Now Under One Head and That
is ROckefeller'S.

New York, July 1.-THE question,
s'Who is the sugar king?'' was asked
by many Wall street men today. Strange
to say few could answer; and some
who did answered wrong.
Since there has been a sugar king
dom the king has been a Havemeyer-
Three generations of them make up the
dynasty Frederick c. and William F.
Havemeyer brothers, from Buchnburg,
in Germany, began the business in the
little Vandam street refinery in 1902
Their two sons, Frederick c. Jr. and
William F. Havemeyer, carried it on
after they had gone. Their two broth
ers, Edward and Frederick, succeeded
to the business in 1912.
After them came Theodore A. Have
meyer, son of Frederick, who wore the
sugar-coated purple Intil his death
last year; and then Henry o. Have
meyer, president of the greatest trust
save one in the country. For a CEN
tury there has been but one answer
to the question-name1y: "Havemeyer
is the king
During all this time the Havemeyers
have never parted with the controlling
interest in the business. For three
quarters of a century they owned it
absolutely.
Wall street was saying today that
Havemeyer is no longer king of the su-
gar trade. 1t has been suspected by
The stock of the sugar trust has been
cutting up curious capers. Large blocks
of it, secretly acquired by buyers con-
nected with the Standard Oil company,
have been withdrawn from the mar
ket. The old time Havemeyer mani
pulations have ceased
These facts have led to the inference
that sugar trust affairs are a new
basis Today the fact became appar-
ent when half a dozen brokers who
have been closely connected with the
Havemeyer interest admitted that
Henry o. Havemeyer was no longer the
owner of the controlling interest in the
American Sugar Refining company.
One of these. himself one of the Iarg-
est holders of sugar trust stock, who
would not allow his name to be used,
said: Mr. Haverneyer has not for
some time owned controlling interest
in the American Sugar Refining COM
pany. No one man owns a majority of
its stock The control is held by a few
men, who will act in conjunction to re-
move the stock as far as possible from
speculative basis and put it where it
belongs-among permanent investment
securities"
This statement was corroborated to-
day by five prominent brokers who are
all holders of considerable blocks of
sugar stock and who have been on the
HaVemeyer side of sugar transactions
in the past. None of these brokers
would talk of the Standard Oil cOnnac-
tiOn with the trust though others as
serted as positively that Standard Oil
buyers had gained control of the trust
The belief gained ground in Wall street
today that Mr.. Havemeyer would retire
from his executive connection with the
trust in September, or at the latest
when the annual meeting occurs
In case of Mr. Havemeyers retire
ment, according to Wall street opinion.
John E. Searles will be the probable
choice of the Standard Oil interests as
the head of the trust