The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1897-03-16
THE SUGAR TRUSTS UNSUITABLE
GREED.

Last Year. So, 900, 900 a Year in Wages
Cut CT.
In the ten years of it's existence the
sugar trust has taken from the people
of the United States $97, GAO, 900 in the
shape OF excessive profits.
Its normal profits would have been
but $139, 200, 600 for the ten years. In
stead of being satisfied with such a re.
turn, the sugar trust has, during that
period, divided the enormous sum OF
1886, 240, 900 in profits alone.
II the sugar trust can keep on doing
this for sixty years, which is less than
the allotted span Of one mans life, it
will have collected more toll from the
American people than there was money
IN circulation in the entire country last
| year.
These startling facts can be proved
from the testimony which has been put
in before the legislative committee
that is now investigating trusts, and
from testimony that has mainly been
given by the sugar magpates them
selves.
Both Henry o Havemeyer, the pres
ident Of the sugar trust, and John E
! Searles, the secretary, and treasurer,
testified under oath that the annual
output of refined sugar by the trust
was 1900, 900 tons, or 2 400. 600, 600
pounds a year.
Henry 0. Havemeyer testified that
in the year 1856, the year before the
sugar trust was organized, the margin
Of profit to the sugar re1ner vas SO OF
a cent a pound. This would make the
annual profit on output of 2 400 600,
900 pounds $13, 92O, 600 or $139 200, 600
in the ten years.
Called upon by the committee to fur
nish q statement which ould show
the margin of profit to the reiners
(the eugar trust) from 1882, the year
Of it's organization, to the present
year, MI. Havemeyer gave a table
which showed that the profit, margin
has ranged from .673 OF a cent a pound
to 1.30 cents a pound.
By striking an average on Mr.. Have
meyers figures Ia to the margin Of
prcfE during the ten years, and multi
plying it by 2. 400, 600, 900 pounds, which
both Mr.. Havemeyer and Mr.. Scales
sWore vas the average output Of the
trust, it is shown that the average
profit per year earned by the sugar
trust have been 1886 624 900, or 1896,
24O, 900 in the ten years.
Had the sugar trust not been organ
izeed and had the sugar refners o
tinued to compete with each other on
a margin of So of a cent profit, as they
did before the organization of the mo
nopoly, the sugar consumers would
therefore have saved SO, 7O4. 900 a year,
or $97, 900. 600 in the ten years.
Mr.. Havemeyer has testified that the
number of laboring lei who were
thrown out Of employment by the
closing down of refineries that followed
the organization of the sugar trust
might have been as high as ! 500
Others have testified that the number
of men of deprived of work was more
than LOCO.
From all the testimony it seems ea,
sonabIe to figure on the basis that not
less than 5000 men who we're working
in sugar refineries that went out of
business when the trust organized lost
their places and have not been able to
find employ ment in that industry
since. The workingmen in sugar re
ineries are we'll paid, as their labors
are Of the most trying character.
The 5000 men who lost their work IN
the refneries through the organization
OF the trust certainly averaged not less
than g a day each, making a total Of
$40, 600 a day for them all. Working
800 days a year on this basis, those
5000 men would have earned a total of
So, 900, 600 a year in wages, or $50, 600,
900 for the ten years.
Theodore Havemeyer, the vice-pres-
ident of the trust, said that n Of the
objects of it's organ z2tion was to pre-
vent ''illegal combinations Of organized
labor" There is no contention that
the 5000 men who lost their places
when the trust was organized copsti
tuted IAN illegal combination of organ
lied labor"
They we're deprived OF a means of
earning their livelihood because it was
the policy of the sugar trust to shut
down refineries and swell profits by
neutrality-suspicious. Y. World.