The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1897-02-17
THE LExow SEARCH LIoAT.

TVE GGASNp 9GAuSEV
1t Il Again Turned ON the Business Methods
of the Sugar Combino-A Demand for the
Books 10 Refused.
New YORK, Feb. 16.-The legislative
committee appointed to investigate the
existence of trusts In this state met
again Monday. John E. Searles, sec
retary and treasurer Of the American
sugar Refneries Co., was on hand.
The first witness was James III. Post,
commission merchant of this city. He
represented the two eastern concerns
supposed to be in competition with the
American Sugar Refneries Co. These
were the National Co. and the Mollen-
hauer Co.
The witness admitted that while he
represented L. H. Howell, Son & Co.,
and the Mollenhauer Co. in sugar deal
ings, he sometimes had the one com
pany competing against the other, be-
cause it occasionally happened that one
company wanted to buy and the other
wanted to sell.
The product of both these concerns
is comp ted for at the same time in
your office; is that what you mean to
say?"
''Yes, that sometimes happens"
Senator Lext w then questioned the
witness about the factors agreement.
'Is it the same as that of the Ameri-
can Sugar Refineries Coz"
with the exception that we do not
require an affidavit to act the rebate of
3-16 of a cent per pound" The witness
stated that he did not think any of the
refners made a of cent profit last
year.
"And yet the factors get 9-16 of a
cent rebate when the retiner does not
make n of cent? asked Senator
LeXow.
"That's So" replied the witr IS.
"Do you want us to believe t..At.
eyes, sir"
Mr.. Searles was the next witness.
He said that the only retailers his com
pany ever sold sugar to were large
concerns
SIS it not a fact that you have an
agreement with the Wholesale Gro
GERS association"
mo, sir, it is not"
Senator Lexow wanted the witness
to admit that under the code of rules
adopted by the wholesale grocers, the
i American Sugar Refneries Co. con-
trolled the price of sugar all over the
country, but Mr.. Searles could not see
it in that way.
The witness gave the items OF the
original sugar trust company. There
We're Is companies and their capital
amounted to So, $50, ,OOO He said he had
no record of the amount of certificates
issued of the stock.
! Then" said Mr.. Lexow, "the books
that show an increase of SO, 600, 900 from
capital of $4,000, 900 are not in exist
. ence, according to you?"
!, THAT is So" replied the witness.
, Mr.. Searles declared he did not know
: the whereabouts of the trust deco
which showed the amount of certifi
. Gates distributed.
Senator Lexow asked the witness i
I he had the minute book of the Ameri
r can Sugar Refneries Co. with him.
II have not, replied Mr. Searles.
: 1--WE want to look at the minute bool
, to find out something. about the capi
8 talization of the original companies"
Are you prepared to produce thes
books now?" asked Senator LeXow.
y Il submitted your request to as man
of the directors as | could reach. an
VAS unable to get their permission t
produce the minute book in court. ;"
' Senator Lexow then directed tn
n stenograph9r to note that the commit
mittee was going to subpoena the d
: rectors to produce the minute book.
: Are there more men employed /
; the sugar reineries to-day than befor
1 the trust?"
r Yes, sir.
o The witness said that the Londo
S market controlled the price of suga
I all over the world.
S 'Is the increase of large corpor;
tions disadvantage to the working
q men?" asked the chairman.
! mo, sir, but if we had less legisl;
/ tion we would be better off. If yo
n will make laws that will invite capit'
e to this state instead of driving it ava
/ 1t would be an advantage"