The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1897-08-13
FABULOUS GAINS
Great Fortunes Result From
Republican Caucus
Sugar Stock Jumped Up Ten Points
After the Action Of Controlling
Party Was Known on
Wall Street

Washington, Aug. 9.-[Speclal.]-
Tuesday, June 19, 1897, will be men,
orable day in the history OF legislation
in this country. The day upon which
the Republican senators. In caucus
solemnly pledged themselves to stand
together" in favor of the sugar trust.
At precisely 10:45 q, m. Mark Hanna
made an earnest plea for united ac-
tion. A vote was taken and it was
carried The New York Stock Ex-
change opened at 1890 with dull
market At 10:45 It was noticed, by
watchful brokers, that Wall street
houses, having private wires into
Washington, were buying sugar stock
in large quantities. Twenty-one hun
dred shares Of sugar stock were offered
| (by an innocenu owner who had no
private wire into the Republican eau
cus) "Takep!" cried William ii. Duff.
This told q transaction involving
$3.50, $50. A member of this firm Is in
Jail here as Is well known on account
of the sugar scandal in the senate. At
IL so the final vote was taken on SEN
ator Spooner's motion; that each and
every Republican senator will give his
vote for any niquity the bill may con-
tain, favorlng the sugar trust. Each
is to vote with his eyes closed; convic-
tions and conscience are to play no part
a IN CT pf
the Republican legislation every sena-
tor is bound to keep quiet, and vote
In the senate when the time arrives;
that the interest OF the sugar trust that
have dictated its terms may be sub
served 1t was adopted at 1l;45 in the
caucus.
At II o'clock news arrived on the
New York Stock Exchange from
Washington. The firm OF Moore &
Schley, through their beard member,
William II. Duff, in the absence Of
Chapman, who is in Jail, did the buy
ing. These are the brokers Of our
statesmen. About this time the pub
lie wires began telling what had oc-
CURED in the Republican caucus on
sugar. Somebody had bought 1870
shores at S1.18; before the public knew
what had happened this transaction
amounted 10 $011,Sl0. In few min
utes it went up to $1.22; 94,975 shares
had changed owners, This represented
about 81 100000. The brokers' COM
mission alone meant $4,000 to them.
II | were to mention the enormous
amunts made by options. you could not
comprehend. Suffice it to say that this
action of the Republican caucus raised
the price of sugar 10 points and that
every time 1t raised one point the spec
ulators doubled their money. You can
make your own calculations. 1t would
amount to Sl10,0000O0. Thirty minut g
after the Republican caucus adjourned
there was such bowling, cheering,
screaming mob around the sugar post
on change in New York that no one
who has not witnessed such scene
could believe me were to describe It,.
The more they studied this crime the
better they liked 1t. And sugar took
another jump upwards the next morn
ing. 1t seems incredible. while tho
farms in Ohio have decreased 10 per
cent in value since Mckinley was in
augurated, and the failures in Stark
county since Jan. l have amounted to
$43S, 800, and $76,S2S.07 worth of mort
cages have been fcreclosed, 100000
worth of property has been placed in
the hands OF receivers, In Starb county
alone. There are 81 900 idle men In
Chicago. This Republican, caucus has
taxed these suffering, starving people
to give this corrupt, infamous sugar
trust a plain steal, by adding TO the
value of their trust stake $50 100000 in
three hours after the motion was
adopted In the caucus. By the time
this law goes into effect the trust will
have imported 100000 tons of sugar.
This law gives them, even II they were
to pay this tax, SIG robbery on every
ton OF sugar they refine. The sugar
trust by anticipating the operation of
this new tariff law in custom duties
win steal Sl6.0OO,000 that belongs to
the United States treasury. This will
amount to a grand total of SAC 900, 900
steal for the first year. This by all
justice and common decercy belongs in
the treasury OF the United States or
the pockets of every man. woman or
child who eats sugar.
In and near Pittsburg there are to-
day $4,000 men and their families in
actual want and starving condition as
reported by q legislative commit Zee.
Starvation And yet there are thasc
who look upon the passage of such a
tariff bill as the means of the promised
prosperity. She advance ngeat says
30. mot more but better, dollars and
u chance to earn them" ut IL the