New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-09

d
mon, ma, hai already boon made In Die hehaf .sv.
er,l ffnes by Pho other directors NJ mo suFir Trust
Ne sad fhe subpoena WAS served on him He he ".
on his Wv to rho tr,n 1ni he bal no' time % az
range hs extreme, important engagements feb 1s 20
return to fhis cify before
40 business eaI sentor fesrv 'ls so Import.
ant A. % prevent Won from answering q summons
of a committee representing Both hran.hoF of fhe
IegIslnfurc This committee wlI MAKE no Distinction
h,tnc.n mon ~ wealth. on '1' ono dido nni neeEafs
on tho other whoever isn'cfs Is commands n'
matter Who he may Doc must abide the consequences
Tho committee vii usperl iHirm'ni as 90 f'Hr on.
,,np, until Won have completed your testimony
Mr sear'es having boon snHrn described hins
s.lf as nfiy.ss wears DID, 1rl f1e .e-r''afs AMI ne
treasurer of the American sugar H'hnng company
ara banker
"yon arc man ~ affairs To- this ety. asked me
Mr. sc,rle. smiled ana an'eorei = suppose an
supposed - 10
rhen tho chairman made another attempt 20 hni
ont rho Whereabouts ~ the sugar Trust decd Mr.
sesrics SAID he didn't know whore 70 vas Neither
~ tho Messrs Hayomcycr had known either
when dld YOU see o. 'as'f'
"At tho time Of tho litigation over tho North River
Refinery"
Were You largely interested in ma, refinery"
WHAT ne GOT ~ TRUST STOCK
senator t..ow bore referred % some notes ana
.h., ,,onounasl tho query Sow. IN that irsaton
li Won nor testify that IN rctafn for S3 pn stock IN
rho North River Refinery you received tHeD worth
~ Stock IN me sugar Tru-tf'
- think dr." sold INC witness obviously
docs not tho method ~ transfer In 'hs case - the
North River Refinery represcn, the method pur'ued
IN the transfers - 'hc other fmpan's MAT ',cntu-
ally became amaigamatcl in the sugar Trust
No the case Of the North River Refinery AS a
.,i,,r one The real value OF th" stock fo The
many was not liked a. 10 Wa IN other cases
ur soarles could not remember ai this p'n, ems,
how much the trust Paid Ter he North River Re
nnery property
4, was a pretty large Transaction. wasa't itr'
asked the chairman.
Yes I thirk q was
And ain'r " give the trust great deal y trouble
aferuard be ause the decided the purchsse TO
have been Illegal
Mr. searles though, there may have been uttls
trouble OF tina, sort lie was not perfe lily clear IN
hs mind when he asked Tor the value ~ the
rust certificates paid for the purchase IF the North
River Refinery Senator Lexow refreshed his mem.
ory from some notes from which he read and nnaiy
NJ searles explained that a. he could re-
member ne had bought personally me stock OF the
Nor,h River Refinery for me Of sS2i 40 and had
received $4,000 OF the stock of the IN return
tor II.
THAT /. to say" interpolaied the chairman "tha,
every company that went into the trust got double
the value OF its stock In the stock Of the trustg'
4 wouldn't say that" responded Mr. sesries
quickly. This was private transaction Of mine.
The property OF the North River Refinery was sold
at It's value TO the trust"
The property was worth ss25Ooo wasn't l,g"
"Why-ef-yes."
But you sold II for more than double that
amount7'
I'VE sold It at its value TO the trust"
But the fact is. nevertheless. that you and Mr..