The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-02-16
TRUST INVESTIGATIONS.
The LexOw Committee Resumes
Its Hearings.


| met again this morning.
John r. Searles, secretary and treas
urer. OF the American Sugar Refining
Company, was on hand early.
The first witness called was James Fl
Post, Il commission merchant of this
city. He said he was the representative
of Il. II. Powell. Son s. Co. He repre-
scented the two Eastern concerns that were
| supposed to he in competition with the
] American Sugar Refining Company.
These we've the National Company and
the Molenhauer Company. From .his
| testimony it seemed that the methods of
the two competing refineries were
about the same as those of the American
Sugar Refining Company, if they did not
actually work in concert with that COM
| pany. He testified that there was no
agreement between them and the Ameri.
can company except us to freight. In
reply to questions from Chairman Lexow,
Mr.. Post admitted that it might be :,
fact that his principals increased or re.
stricted their output or raised or lowered
| prices simultaneously with the American
| Company. Mr.. Lexow asked:
| Don't your companies AID the Ameri.
can Refinery Company fix the price of
| sugar.
| No, sir; the price of sugar is fixed by
the whole world. One sixteenth or one
| part of the world.'
| The witness said that the price of sugar
was fixed by the daily stute Of the market
ana not by the refining companies He
| explained that the equality rnte-book
accepted by the grocers and the comma
MES only dealt with the freight. This
contract, the witness admitted. was to
stamp out competition, but was equally
for the benefit of the grocer and the con.
sinner, because sugar was sold to every
body ut the same price.
Mr.. Scarles then took the stand. Mr.
1.eXow drew from his statements that the
cost of refining sugar was from one. half
to three quarters of cent per pound;
that the margin of profit between raw
and refined sugars had been decreased
one'eighth cent per pound during the last
year, and that if the American COMPANY
could not produce sugar cheaper than the
similar concerns that were not consol-
idated. one.of the principal. objects of the
consolidation had failed
He said the American Sugar COMPANY
controlled the United. Sugar Refining
Company, of Camden, n. j., recently
established, and whatever property had
been acquired Ivy the American Company
since its establishment had been IL COM
peting plant. In regard to the purchase
of the Baltimore Refinery in 1896, witness
said:
we thought it was II good purchase
ard that sugar could bc conveniently dis.
tributed from that point to the South
and West.n
Witness denied that there was special
sum set aside Tor supporting idle REIN.
cries; also that there was an agreement
with the Wholesale Grocers' A IS ociaton
lie said there WAS an agreement, how.
ever, with wholesale grocers in regard to
the freight from refining point TO point
of sale. The articles relating to the
equality plan in the Wholesale Grocers'
Association were prepared by the associa.
ton. the witness said, and not by the
American Refining Company.
| The following is the capital stock of
| fifteen original companies that composed
the sugar trust according to the witness:
Havemeyer & Elder, $500, 00O; Dick &,
Myer, S2O0.000 Decrosto, $3.50 600; Mol
Ter & Sierck, S2l0 900: OXhard, 800, 600:
+. O. Matieson e Wiechers, 500, 900:
Brooklyn, $780, 900; tITavemeyer, 81. COO
600; Forest City, $500, 900; Boston, $780,
GOO; Standard, 81 ,000,000; Bay State,
S223,OO0; St Louis, $150,000 Louisiana,
| 500, Planters, $250,000.
| Mr. Searcs had brought no books or
records of any kind with him and Chair-
man l.eNow announced that the direc, ors
OF the American would be subDoenacd To
| produce the books required
! In reply to further questions Mr..
| Searles said that more men were employ
| ed in the sugar refineries now than before
| the existence of the trust. That during
the last nine years his company had dis
tribnted 81 900, 900, 900 worth of sugar in
the United States and that the London
market controlled the price of sugar all
! over the world
IS the increase of large corporations II
| disadvantage to the working MANI asked
the chairman suddenly.
No, sir: but if we had less legislation
we would he better off. If you will make
| laws that will invite capital to this State
instead of driving it away ic would he an
advantage. But so long as investign-
| lions like this are held it is unsafe and
| uncertain and makes 1T act on the defen-
sive rs though it were the enemy of the
| workihgman. There is II law far higher
than the legislature of the State OF New.
York, the law of supply and demand.
which control all these things and which
no trust, however big, is able to Violate
Senator -LeXow ut this junctIre nd
lourncd the proceedings until 10 O'Clock
tomorrow when Mr.. Scarles will pro-
duce IL lot OF statistics in connection with,
the production of the raw material and
the refining thereof
HE TOOK COMMISSIONS.
Atlanta, Feb. Id. C. johnson. y
member of the city's board Of water. re-
signed to-day ut the request of Mayor Col.
"a MN l,.,I