The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-02-06

NEW YORK, Feb. 4.--when Chair
man tesow called the joint lcsisia-
,Iye committee on trusts to order to-
dny there were present upon subpoe-
r.r, TO testify Il. o. and Theodore
Havemeyer, besides u number OF
men prominent In mercantile pursuits
ana several lawyers whose clients In
,srrs.s 1t was supposed, might be at-
f.s,,a by the Investigation. A letter
was received from c. b, Richards &
Csmpany. steamship agents OF this
cltv. calling attention TO the alleged
Existence of q pool by the trans-atlan-
,le steamship companies and request
ine an investigation into It's methods.
Theodore \. Hayemeyer, Vice presl-
bsnt OF the American Sugar Refinery
I,rpany. was then sworn. Having eN-
Named that prior to 1891 he was con-
pected with the eight sugar refining
companies, now operating as the Amer
itaa. Mr.. Eayemeyef said that ne had
nothing 10 do With the commercial or
dycal side OF the business. He could
no. give the capitalization OF the var
ious companies that We're absorbed IN
ijsf Without j reference TO the books;
iha; was a matter upon which MI
suarles would probably be able to IN
tnryn the committee. The question was
men put to the witness: DO you
irraniug the American Sugar Rein
irC CompanyO. transact any business
Etve suVar refining
4 think not" replied Mr. HaFemey
Have YOU not recently beeu.led into
The manufacture OF coffee
~Yes sir: am connected With a cof-
fee company in Ohio.
What was the object OF your con-
solda;lun In 1872"
TO refine sugar"
Was not yonr company organized.
Nr Havemeyer, to control t!Is refining
and sale OF sugar in the United
staies2"
4 mink not. sir"
30 YOU not control the sugar mar
ke,s ot the United States"
No, SIR. l----,--sS,s. ----.s'
OfCourss Not.
"Was your company not organized
FOR the purpose OF preventing Illegal
combinations OF labor?'
no. sir"
Have you not iucreaEed the capital
stock Of the company since 1881?
Yes, sir.
TO what extept?"
II should say $25, 900. .O0O"
"How manv sugar companies out
side OF yours are there in the United
~ sbould say about eight"
The witness then enumerated the
names OF the companies. In reply TO
another question. Mr.. Havemeyer said
that the American sugar rgfineries
Company produced from seventy-three
60 seYenty-fiVe per cent OF the sugar
manufactured in the United States.
why was the stock lncrcased2'
TO purchase other companies
What are these cOmpanies2'
The Franklin. the knight, the
spreckles and the Delaware sugar re-
lining companies OF Philadelphia.
rs not It a fact that the price OF SUI
gar Increased. owing TO the acquist-
ton OF these four companies"
Il think not; the price OF sugar IS
l5wer now than 1t was then
Who fixes the prices at the board
nectinps?'
MY brother" responded the witness
In lhe Coffee Trust.
Rever,lnE to the recent advent OF
the sugar company In the coffee trade,
the chairman OF the committee asked:
Why did you 30 into the coffee busI-
hess?"
4 thought It was pretty good bus-
ness"
Are you willing to swear that the
officers oE the coffee company are not
organized for the purpose OF shutting
out competition against the American
Sugar Rcfnerles Company"
They are not. sir" the witness said
slowly. Witness said that part OF the
cry about competition In tire sugar
market was Newspaper talk, but nd
fnittei defending suit In ONO
brought about through the activity OF
Competition there"
When dil you purchase the Wool
sou stock In Ohio?"
I'm have to refer YOU to my broth
o. replied the witness.
The preferred stock OF the company
was Ss7OOO0OO and the common stock
81 100000. a dividend OF per cent
was declared last year on the preferred
md l2 per cent on the common. In
addition there may have been an ac-
cnmnated surplus.
"I would not 60 into business" Mr.
Hayemeyer said. III did not make 10,
ls or 20 per cent IN It,"
Senator Iexow quoted aome figures
from financial paper which showed
that N l6gI-5-G the Surplus OF stock in
creased from 100000 to Si3,00J,0OO.
Are these ngurcs correct" dsked
Senator LcXow.
Il can't say II you not them from
Mr Se0rlrs. they nrc correct"
nAA Far A. IIc Knows"
'Do you know any business not in
tho nature of monopoly thu, pays 10
or 10 per cent"
Plenty OF them
Tell US one Of them"
Coffee. for instane'
Ard that is the reason you went in
10 ~"
one Of the reasons" smiled Mr..
Naycmeyer.
Are you willing 10 swear that there
IA no agreement. verbal or written. be-
tween your company and any other
f'gar1lng the nSinR or maintaining Of
prIrcs?"
II am willing to swear that. ns far ns
! NuOw, tNCre ~ no Fuch agreement.
Chairman LexOw wished 20 take up the
examination Of Mr. Searieg, secretary
and treasurer OF the American Sugar
Company, bcfrre calling II. q. Have
mrytr 70 the witness chair but waived
BIS preference upon being Informed thlt
Mr Soarl'l could not conveniently ap-
car bHt0fH tic 9onphny until tOantBr-
Faw Henry .. illyrmryer, president ~
JHr american Surnr Refinery. mot r'-
inrflr1 as previously rlyanl waa sworn
ma described the organization of the
sugar trust In 1887, The assets. real and