The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-02-17
~e-777-7a777 -
Trust INVESTIGATIONS.
susnr ana Rubber Trust Ofnccrs Dc-
fore The Committee.


Now York. February l6.-chnrlcs II,
Flwt. treasurer, and j. u, Ford and C.
NJ. Martin. directors OF the united States
Rubber company We're In waiting to be
questioned by tho Joint Legislative COM
rittce on trusts today. hut were excused
Until after the tcsil,uony OF Mr., SNarles
of the American Sugar llehning company
who when hc rneitnrd the witness chair,
was crested with the question;
"iiave you those ngur"s with youg"
81 have"
Senator Icxow thou questioned s,sailea
as To tho margin of pratt between tho raw
and refined material curing the 1--WE years
prccodlnr the creation Of the sugar trust.
MIR S.nrle=. IN reply said TINT tho av-
ernge margin of proiit for the I'VE yenrs
preceding the trust WAS 1881 cents per
pound and during the five subsequent
q waS p6 Der pound.
'll II not truo that the average price Of
tho raw material after the trust dropped
a1 cents pcr pound white the charge for
The rehuci Increased LII per pound:"
extraordinarily. ST."
Mr.. sohrics coniended that rs the years
preceding the trusts were years OF dis.
aster In the sugar business there could
no, be a fair basis OF comparison placed
in regard 80 the figures for tho fva zen ~
ruoceedlng tho formation of the trust. He
trsn@ed tiint tlitsro waa n savoi-fold capt
tallyaton Of the stock OF the company.
'1Invr you g.von tho matter OF pro-
ducng the hooks or the company further
Thought. MIR. su,rles'Y' aAleed Senator
Lcxow,
Il hnvn not"
''rhcn your answer stands tho same -
Yesterday"
Lawyer Parsons said he could answer
| anthorhnii lively nbout the books utter tho
directors meeting tomorrow.
Tho comndttoe conferred and Senator
Lexow snld he would wnlt until Thu16-
day bcfore taking decisive action an tho
matter.
Lawson N Tnlor was recalled. Tho a.
Hentiai portion OF his tnstimoncy was IN
the lrond that the rciiners hcfnre the nd
yen Of The trust gave eanp@ymcnt to
25.0DD to 5000 people. 1000 to 1000 OF
whom were discharged after the consoli-
dalion. -
Rubber ccmpany." sola Chairman tuxow.
and Charles Flint. on being sworn, took
lie said no WIS Treasurer OF tho conn
pany aud was also n member Of the hoard
of dircglors. Iic stated tint the company
WAS incorporated in 1872 wlih a capital OF
In reply to senator Ioxow witness sald
that the Rubber trust purchased the plant
of 'l'e Now Brunswick buhhcr company
in he fan OF issg for ssmQ9oo,
"Aficr the acquisition OF mat plant he
si,id there was an appraising committee
appointed 10 make n report as 10 u,e pur-
ehaih. Of Other properties. They made a
thorough examination and recommended
the purchagv for 81. 100000"
w hat were The propertlesY"
THE wyoming Rubber company, tho
~
the II. L.. Candcc company of New Haven,
the Goodyear Metallic Rubber Shoe COM
lany, The National Rubber company Of
Bristol II, L., abe boston Rnbber com.
ptny, the Franklin. the American Rubber
company OF Cambridge, Mines. and the
Rubber Manufacturing company or Coll
chester"
Wires saaid that the purchase at the
hgure given did moi include all the stock
OF the corporations named.
What IL the total capitalization of all
the concerns acquiredT'
About 5000 go"
with the acquisition OF the four con-
Germs the United States Rubber company
In 1893 wtncss said the average output
Of the company was from co TO O. per cent
Of tho total produci OF the United States.
The number OF stockholders had Increased
from 800 10 5000, and an equal number OF
preferred stockholders.
since the organization n has been our
ondcayor 10 earn all the money we law-
fully onn do" Raid Mr.. Flint
Witness sDid tina, in ipAiing stock cer-
tlheatcs for The s22oco0o0 he nefeiy car
iied od the instructions OF the board Of
d reotors
NOW, win you swear that the element
OF shutting off competition was not con.
alderd when the t22,00,Oo0 of aiock was
inaucd2"
THAT may hay. been one of the cie-
mentg."
Adjourned until 10 o'clock tomorrow.