The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-02-11
AUSTIN TEXAS THURSDAY FEBRUARY II, 1897


purchase. The new company acquired all
the property before held by the trust, and
no more, and was capitalized first at 800
100000, afterwards increased to S15,OO0,-
OOO The greater part Of the ST, OO0,0 600
went in the purchase of the Philadelphia
property.
In answer to direct questions Mr.. Have
meyer categorically said his company con-
trolled the sugar market in the United
States, fixed the price of sugar, controlled
the price of sugar or that it had any con-
nection with the Moliner concern, the
National or St. Louis.
Your company controls the greater
quantity of sugar in the United States,
does it not?" asked Mr.. Lexow.
I'VE undoubtedly do" replied Mr..
Havemeyer, emphatically; 1--WE turn out
IS to so per cent of the entire output of
the country"
"And l want to say" went on Mr..
Havemeyer, raising his voice, that when
put the supreme court said 1t was per-
fectly legal"
Senator Lexow wanted to know about
Arbuckle Brothers relations with the
American Sugar Refining company and
spoke Of the firm competing with the
sugar company.
"They never competed with u.s." said
Mr.. Havemeyer. "They are wholesale
grocers and handle our products"
why did you organize n coffee COM
pany within day or two? DO you think
the coffee business as alluring as the
sugar business!"
Yes; ! propose to carry on the coffee
business, and we have the sugar business
and that isl state it here in open court
| without fear of contradictions to the
| advantage of the consumer. The margin
| between raw and refined sugar is three
quarters of cent. Concentration of large
| business under one management with its
consequent economy allows us to put
sugar on the market at less cost than
separate concerns could afford to do.
Green coffee declined 6 cents in 1896. but
| Arbuckle lowered the price of finished
a pound more than his legitimate profit
out of the consumer. | can put it on the
market Mt only | cent pound over the
cost of the raw product My going into
the coffee business has nothing to do
with Arbuckle taking his sugar trade
from us. That is pure nonsense.
"Arbuckle has never competed with
u.s." he continued. '1Ie is at liberty to
do so and is welcome to do SO. We are
going into the coffee business as Il field
of legitimate enterprise"
Senator Lcxow then aroused interest
and surprise by calling James ArbucklC
to the stand. Before he was question
ed Senator Lexow asked Mr.. Havemeyer
Are you, with your brother, in com.
plete control of the American Sugar Re
filming company
mo. we are not" was the reply. ''the
stock is held by 5000 stockholders and nc
one man, or two men or firm can con
troll it,
| ALI 10 Enl hnt hn hnI
decided to build sugar refinery repre-
! sentative OF, tho Sugar Refinery company
i'll speaking OF it TO him, said:
How would you like for us to 90 into
the coffee busincss!"
Il felt" said Mr.. Arbucklc. that i
was an implied threat"
John Arvie was then called. He sale
that Lowell NJ. Palmer of the Sugar
company said to him:
IF you start Il sugar refinery we vii
90 into tho coffee business and open NOR,
ovens that the Arbuckles."
Mr.. H. o. Havcmeyer rose and said:
Lowell Nj. Palmer had not the an
thOrity to speak for the Havemeyers OF
the American Sugar Refining company il
he did so. Mr.. Palmer is at the head a
our cooperative branch. He is not OF
the directory
Mr.. Arvie said that representative o
the Sugar company came to HIM ana sac
that if his company did not go into thu
sugar business that the sugar compan!
would stay out of the coffee business.
Mr.. Havemcycr jumped to his feet ant
said:
: Il deny that any such proposition
cmanated from u.s. 1t is monstrous W.
are going into the coffee business in spit
of the Arbucklcs."
The committee adjourned until 10 Il
M. tomorrow.