The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1897-02-19
PROBING INTORUBBER
Lexow After That Trust With
His Sharp Stick.
He Again Refused to Produce the Books
of His Company-The Committee Con-
sidering Some Action Against Him.
Some of the Testimony Given.

NEW YORK, Feb. l7.-When Secre-
tary Treasurer Searles of the American
Sugar Refining company resumed his
testimOng before the senate trust i'll
vestigating committee he said that the
average margin of profit for the five
years preceding the trust was 1874 of q
cent per pound and during the five sub
sequent it was 90 per pound.
The years preceding the trust, he
said, We're disastrous 70 the sugar busl-
ness,
Mr.. Searles said he could see no rea-
son why the state should interfere with
the business of the American Sugar Re-
filming company and in the same breath
intimated that there Were number of
companies and monopolies in this city
that had no legal right to exist.
He still declined to produce the books
of the company.
The committee conferred and Sena-
tor Lexow said he would wait until
tomorrow before taking decisive action
in the matter.
Senator McCarrOn said to Mr.. Searles
al want TO put hypothetical question.
Suppose that the ID companies forming
the trust had not been consolidated,
what would the price of sugar be TO
the consumers ~
at would be dearer by about half a
cent pound" responded the witness,
who added that as much labor is en-
ployed per ton of output now as was
before the consolidation.
Senator Lexow wanted the figures in
that respect, and Mr.. Parsons, speaking
for the witness, said he would request
MIR. Havemeyer to produce the desired
data.
In reply to Senator McCarron, the
witness said the price of sugar per
pound in 1888 was 50 in 1884, 6.sl i
in 1887. 6.O4; in 1888, 7.l5; in 1889,
$50; i'll 1890. 6.24, and at present is
cents "a pound.
Mr.. Searles said the company he
represented was not a philanthropic
institution and had always endeavOred
TO supply the consumer with sugar at
the smallest possible margin of profit to
the American Sugar Refining company.
4 10 per cent increase in wages of en-
plOyeS had been made after the Organl-
zation of the trust and so remained to
this day.
Lawson N Fuller was recalled The
| essential portion of his testimony was
III the statement that the refineries, be-
fore the advent OF the trust, gave en-
/ ployment TO %, 600 to 30. 900 people, l0,-
| 600 to Il 900 of whom were discharged
| after the consolidation.
| I'VE will now take up the United
States Rubber company" said Chair
| man Lexow aud Charles K. Flint. on
| being sworn, took the witness stand.
He said he was treasurer of the COM
| pany and was also a member of the
board of directors. He explained that
| the company was incorporated under
the laws of New Jersey and was made
| up of ~ companies.
Witness explained that the consoi-
dated companies controlled the entire
rubber output. and the competition was
maintained with concerns in the trade.
What is the total capitalization of all
these concerns acquired?"
"About $40, 900. .O0O.'
Witness said that the average output
of the company was from go to 80 per
cent of the total product in the United
States.
How many of the amalgamated con-
Germs have permanently clOsed3'
Three
"Now, will you swear that the ele-
ment of shutting off competition was not
considered when the $4,000, 900 worth
of stock was issued?"
THAT may nave been one of the ele
ments."