The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-02-09
The TRUST INVESTIGATIONS
Examinations Continued by Lexow
Committee at NV York,
SECRETARY SEAPLES ON THE STAND
He Denied TINT the surnr ucartuu
company Controlled the Price of
Observation-Disclosures Answers.

tcday when the joint executive committee
on trusts met In this city Mr.. Searles
ier MS rome In Brooklyn for Canton
ohIo, laft Thursday evening, after having
heeh served with the subpoena AHA the
commiuiee was disposed al its sitting on
faday TO declare him in contempt and
take steps for lis punishment Mr.. Searles
was warmly greeted by the members of
'he committee. Lawyer Shepherd, a;tor-
hey ior the sugar company, arrived some
tme after and immediately entered ineo
conversation with the prospective witness.
Seiore taking the stand. MIR. Searles, an
Senator LeXow's request, stated his reason
Tor iaiilng TO appear before the committee
as summoned. He said that he WAS served
with the subpoena as he was on his way
10 take i;ra.n, and that he felt ii was
his iiist duty ito attend 10 the business Oh
hand a the time.
Senator LeXow reprovingly told Mr..
Searles that the subpoena OF ehe commit
tee could MOI be ignored by the millionaire
OF by tne poo. man.
Az the close OF your testimony" said
Nir' l-eAo", tht committee VIII pass upon
INC Question OF contempt
Mr.. seAries sa.d ms occupation was the
sugar iennng BUS ness ana tHat oil bank
president ana presluent OF several lora.
o. me n,e,,,a i,u s sSeIeNaty ana trSasurer
M AHA s 81, res sand mag ne purchaser ana
CO. an we STOCK OF me norm n4Ner lie
ihihg company. The pIrcnase was An IN
"NivCdi p"fchase, ne continued and had
no te'a''on 'ts 10 me Value OF properly 10
the sugar hctnlns company. Inc CIR
Vp"ls''"it' NerS som WIN. pecuii ii, and.
nc aaael N me wno.t TRANSACTION was
mr. ;setrles gave the stereo,yp reilly
can hot feclt. I" l'uiEtci Vi u'tea-
Won, ,..1s p,opounu,u by senator t.eAow ~
tcsaru 10 che purchase Oh The North River
inc re was noe anout $o-J,1JO
M. s%o1 as 70 me hrssen' Whereabouts OF
n nas eosnt'h ny : COOKS at MAJ t,me' WI.
we're IN tne archives OF The subsidiary
co.hpam!' over "n.ch he mas no eon,r"i.
Now you might as wei irl - what
was P.,d lqf Inc Nofth i'lNer Refining
&c MI any We Arc going TO have it, If 1t Is
III ihis world.
lao nave no liEIfes at the present time
uIe9' Sald the witness, who recalled that
We Pr &c PAD IN tor the stock OF tnp
.Noi ~ RIVER sugar kelnAg company WAS
SN"pW' Is ii not true that You made $780,
wy over nighl on me transaction:
III Is nuU true. ! did not make $50 900
in the transaction over night
an you dispute 'hht
- 90
~ spI 10y Hs1 eohMdor when you wcre
taxing ehe NtNW" worth of certfirarcs
thdh you were taking Hhe,r equivalent In
'a.e@
~ would be thair value when they be.
Udiilc a iai OF tne consolidated stocks, i
W WI, my lilth IN their ultimate value that
ih ,r,, me to take them.
me witness sad that the North River
sugar refining company was anxious TO
oraer 10 accommodate the company, wit
ness TOOK the certificates off It's hands.
Wltness tnriher said that the trans
acton mad thn acq'iiescence Of the direct
nrS ami sloekhoide's OF The Sugar trust
he wttasss alma Ted that Instead. of re-
tttNl"S N'v!uv worth OF stock certificates
rom me North Il Yer SueIr Refining COM
pahy, ne only received 500 600.
5n, ~ S'"se stephen little, the expert
auGo'ntah'' VINO had been sub2oenaed,
anhouhcsi hmleif. and On explaining 20
sehator Lexow that he in no wye was
,.ost,,iu' WIN lne corporation nhuer In
Js,'S d,iU", vas +NCu5ed.
IN fspy 10 senator LeXoW, Mr.. Searles
renled mat ms purchase OF the stock Of
the North River Sugar Refining company
VS. 20 crush out the company as COM
PI In ro II, th ne sugIr marNei:
said lac could no, say who her or not the
ac.uai value Of az the stocks taken into
me amalgamated trust was less than S2o.-
H9@O
rs IL not a fact that the SO 100000 worth
o. stocks N the Sugar trust are only a
th .! OF that tlgure in actual value2"
~ acttiai value, 30 You mean bricks
ana mortar inquired Mr.. Searlcs. who
finally 4 pted that his min was not suf
Hc,entiy cltar on the subject.
Witness said he had not known the fig
lres u, the case, and on being sked by
senator LeXow f they were available. Mr..
petri,ts sld ne presumed they could lie
sunpHei from the books OF the company.
no" much did the four Brooklyn re-
llnerles that We're shut up receive H. GER
''!lTN,es
non remember The amount"
WAS Mr., Havemeyer mistaken when
ne sam thnt the sugar trust ha accepted
me iigurcs and estimates Of the various
officers and stockholders of the compoti-
tnt con nar.ts without Investigation aud
isAned certificates on that hasis?'
Il think statements Of the reports OF the
Various co!npliEc. Were gtnafnlly ac-
ceptui as a basis for estimating the value
| OF the PROPERTY
ne d,n,ed positively ttat ms company
conlrol!ei the pr &c of sugar and also
ALLEGATIONS that I forced compe titors To
tn, wall by reducing prices in cer'aln To-
caiilies, A..
rot represent its inlr3nsc value and thai
the nui~c only suffered IN case of over
| eapta Ization.
THE companies first representing the
sugar trust ware. liavemoyer and Elder
WIN CONTAMINATION OF SonVp DICK and
Never. $4,000 and others entered on A
| basis CT $4,000 the witness SAID.
Then the valuation of the property
SAID Charmaa l.exow, was not correct