The Portland daily press., 1897-06-11

| statements were COnnr1neQ by a New ORR
chemist who had furnished Mr.. Jones
with an analysis of the fourteen varietie.
of sugar, SO that Mr.. Jones said, the re
| finer lost nothing in the refining save thu
elimination of the coloring matter, the
weight of which was infinitely small. Mr.
Jones said the differential allowed the re.
| finer of SO degrees sugars by the present
law, was about .13 of cent, and by the
schedule of the pending bill about .43 OF
a cent.
Mr.. Vest followed Mr.. Jones in criticism
OF the general features OF the sugar SEIZED
ule. 1t involved, he said, the whole
question of the existence Of the gigantic
sugar trust, which had absorbed every re-
fnery until it was supreme and all
powerful in the field. The Lexow investi
cation of this trust had showed capital
OF NO 1000, 900 common stock and $40, 600, 00(
! preferred stock, an aggregate of $3.50, 900, 00(
| with profits of IL per cent on it's common
STOCK and seven per cent on the preferred
| stock.
Mr.. Gallery of Louisiana, here read the
| lowest and highest mark of the stock and
the daily sales for a long period, showing
| the tlourishing condition OF the company.
| hat effect on the stock asked Mr..
White significantly, chad the introduction
OF the last amendments to the sugar
schedule"
An advance of five points, answered
Mr.. Vest.
CAS- to the question of the effect of our
action here on sugar Stock said Mr.
Vest, waving his arms, 1--WE may be in
doubt here, but there is one place where
there is no doubt--that is among the
spectators in Wall street. They put the
price OF sugar stock up S. share within
thirty minutes after the new schedule
was agreed on by the caucus. / have pre-
dictions from those who ought to know
that if this schedule stands, sugar will go
to $3.50 share.''
Mr.. Vest pointed out the great reyolu-
ton which had occurred in the past two
years in the sources of the sugar trust
supply. He said he was prepared to
prove that the protection given the trust
on sugars testing 98 degrees in the present
law was "a cents a pound; in the Ding
ley schedule SO; in the original Senate
bill, .62, and in the new schedule agreed
on by the Republican senatorial caucus,
81.
Mr.. Lindsay of Kentucky, offered an
amendment to strike out the diff erential
on refined sugar.
Mr.. Llndsay's amendment strikes out
the House schedule in paragraph 2O6 the
words mot above No. 16 Dutch standard
in color and also strikes out the provision
in the same paragraph for differential
o,toy Oli I0luSu sugar.
Mr. Morgan gave notice of the follow
ing amendment to be offered at the proper
time: "a tax Of one cent per pound is
hereby levied and shall be assessed and
collected on sugar that is the product of any
refinery in the United States; but the
person or corporations engaged in the
business of renting sugar, in whose bust
ness there is employed less than 500 600
OF cash capital and who are not connected
in business by agreement with any other
person or corporation engaged in refining
sugar are exempt from such tax. The law
for the collection of the tax on tobacco,
SO far as they are applicable to the subject
OF this enactment, shall apply to the col
lection of the tax imposed by this act up
on refined sugar. And no person or cor
poration shall be exempt from the tax on
sugar refined at any sugar refiners who
shall not clearly establish the right to
such exemption under the rules and
regulations to be prescribed by the Secre-
tary of the Treasury for the execution of
law. Z"
Mr.. Gallery of Louisiana, followed,
The old fight between the producers Of
raw sugar and the refner which in this
country was the trust, was, he said,
again on. He spoke of the scandal of
1894 over the sugar schedule produced by
the. rapacity of the sugar trust. 1t was to
be repeated now. There were consumed
in this country four billion pounds of
sugar annually. If the trust was to re-
proposed, that would mean $40, 900, 900
to the trust. He read the testimony given
by Mr.. Havemeyer before the Senate in
vestigating committe.
This disclosed, the Senator said, that
Mr.. Havemeyer freely admitted that the
purpose of this confessed monopoly was
to control the market and advance the
price to the importing point
Mr.. Gallery said this advance would
aggregate 10000 600.
Mr.. Gallery said that under all of the
tariff acts the profits of the sugar trust
were very large. An effort had been.
made to show that the rust had been
benefited by lowering the price of Esugar,
but any lowering of prices was at the ex-
pense of the producer of the raw material.
The trust never lost. The trust had said
it would be ruined by any differential
under ne-eighth cent per pound and yet
it had thrived under such rate. The in
genious Senator from Rhode Island GAL
drich) had compared the differentials for
a month, when those of year would
have given far more equitable basis.
Mr.. Gallery discussed the sugar industry
in Germany which was, he said, toppling
to its fall, crushing every one engaged in
1T because it was reared on an artificial
basis. In order to maintain this sugar
industry, the cost of sugar to the German
consumer was much higher than / in the
United States
Mr.. Gallery then took up the sugar
production of his own state. Under a
thirty and twenty four per cent ad valo-
rem duty the production of sugar had in
creased enormously. He did not believe a
100 per cent or 80 per cent duty was neces-
sary to keep the Louisiana sugar industry
adoat.
When five O'Clock was reached the bill
was laid aside. Mr.. Pettigrew asked what
had become of his resolution directing the
committee on Pacific railroads to inquire
into the issue of land patents to the
Pacific roads, 1t was stated that the COM
mittee would meet Saturday to consider
the subject.
At $40 the Senate held brief exec u
tive session and then adjourned.
WESTBROOK.
MrS Carrie Hnccav of nouor NJ TT