The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-09
called California company is in competition
with the Western Refinery Company"
None that know Of
CONTROLS 80 PER CENT.


Witness said that out of a total of 1000. 900
tons Of sugar produced annually in the
United States the American Sugar-refinery
Company controlled so per cent of the
product annually, but he denied that the
company controlled the price When we
are not in the market our competitors are,
and buy and sell at their own fixed prices"
the witness said.
Senator Lexow read the witness part of
the testimony given by him (Searles) before
former committee which the witness said
expressed his views at present in regard to
control of the output of sugar in order to
get rid of free competition prevailing be-
tween free factories.
do you agree with Mr. Havemeyer, who
stated that the principal object in CONSOLE
dating was to stop competitions"
Asked by Chairman Lexow If any refin-
cries had been built since the amalgama-
ton in 1891 witness answered in the affirm
State alone.
How do you explain your testimony be-
fore the Senate committee?"
"Oh, that must be read with the con-
1--WE are obliged to notify you formally
to produce at the next meeting of this COM
mittee the minute book of the company
and any other data in reference TO the four
Philadelphia companies and other transac-
tions in the amalgamation," said the chair
man.
Personally / have no objection, but 1
cannot do so without the consent of the
board of directors" the witness responded.
In reply to another question, witness said
he disagreed with any statement implying
that the American Sugar-refinery Com
pany controlled fixed the price of the
product in the United States.
rs il not a fact that where you have
competitors you cut down the price in their
particular locality and force them to the
WALTZ
mo, sir; it is not We only control the
price of our own sugar. The policy of the
American Sugar-refinery Company is to
produce the largest quantity possible and
always in advance of the demand. that the
consumer may obtain the product at a fair
standard price added Mr.. Searles.
In reply to another question the witness
said that since the consolidation the wages
of the employees of the company In this
State were increased 10 per cent.
What was the capital stock Of the Have
meyer Refining Company at the time of
the consultations"
'One million dollars.
What was the amount OF certlhcateS you
received by the pool?
Il cannot tell you now?
You have the figures?
You reduced nineteen active companies
to eight did you not?"
mo. it was from fifteen to eight.
ONE FACTORY SUFFICIENT.
"You have a factory that could furnish
the entire demand of the United States?"
we could DO IL very easily.
At the time of the organization of the
trust the witness testified there were only
a few hundred stockholders.
How many are there now?"
well. 1900 dividend checks were sent out
on Jan. L.
Witness said he was not positive as to
whether or not the majority of the board
of directors held the largest number of
che IN no
Have you not been a self-appointing
body since the organizations"
mo. sir; the directors are elected by the
Have the stockholders asked for year.
No. sir; they are perfectly satisfied to
leave the matter in the hands of the d.
rectors, who are always elected unani-
81 suppose they are we'll pleased with
Il suppose so,' replied Mr.. Searles.
This ended the examination of Mr. Scar
les, who promised to furnish the books OF
the company when the committee recon-
venes on Saturday next.
Before the members of the joint commit
tee separated. Chairman Lexow said to
them that if they could so arrange their
affairs he would like TO have them sit all
next week, when an investigation or the
American Tobacco Company Will be mace.
The subpoena servers have had some troub-
lie in reaching the officials of the Tobacco
Company for the reason that most or them
are out of the city and they report that
only one official, George Arents, treasurer,
has been served. This has given rise to var
ious rumors to the effect that the members
were frightened into avoiding the commit
tee by leaving the city and that the COM
pany had moved its books to New Jersey:
Chairman Lexow, when asked IL he had
heard of these rumors. said that he had.
but that he assumed that the books were
still within the jurisdiction OF the commit
tee. The company has an office in New Jer-
sew as well as in New York. James IL.
Duke. president of the company. was re-
ported as at his home, In Somerviile N.
I Yesterday William H. Butler is in Eu-
rope Beyond the proposed investigation OF
the Tobacco Company next week the chair
man declined to state what the future pro-
gramme of the committee would be.