The sun., 1897-02-16

but also fixes the frsiehtp" ,,,
."1t endeavors to equalize the freight said
o.ENow. do you mean to tell me that that pro,
do You not not ACTUALLY tx the price at which
should be sold ovsrywhere At M, nxes e ,ho ,ho
Sss q not
senator LsIoM spent half hour tryi1s s.,; 70
hT hSt gsssu,. the tss sme s fso
tors throughout the county, and those factors
were all controlled by this book Of rules known
as the Equality Book. issued by the Wholesale
urocers' Association. tho American Sugar lie.
nning Company did actually 1x the price at
which sugar must be sold.
Mr.. Ssarles explained In a dozen or so differ
ent ways that IL did not, because the Equality
at the daily quotations Of tho American Sugar
Refining Company. but did say at the reiiners
SaSnr derSSt @ a. Suotstons s5s ' each rener Ged
the price of his own product.
COMPANY Won't BRING ITS BOOKS FROM JERSEY.
Mr.. Searies produced some figures showing
that went Into tho Sugar Trust. was 50, 500. 900:
He could not tell the amount OF certificates that
psuea % usn that 70 that n informston @ was contained
only In the original trust deed and In the stock
SSs oSs Il value
come in. Mr.. Le.ow wanted the deed Of trust.
snf s.$ .' ss% 'Sld ssss Su. s.. s.r'sia
parts Of 4 had been expunged because
OF OF the % public. He wanted the minute book Of
the American Sugar Refining Company. He
the value Of the p prcpertie. that had bsen bought
by the American Sugar Refining Company since
Custodian 's Si the mnu,s MIN f,ss Sosk % sa, That he did
not have ths right to produce nee II without ne
S's d ss S the
the books Of the concern that the committee
wanted, and they had refused to let him produce \
them. lie said he based his refusal to produce
o;Iwh.re are those booEsi Ain tn. once
Q. tby Mr.. ,warner)-;l Is 1t not a fact that you
had the minute book taxon to Jorsey City
Q.-Isn't It a fact that il was taken there for
the oprpose Of ayoiding the process. OF to the lay
in this this court courtY ma" A.HSo SIR Il e n not t ~
A'cARRES OWES sEARLHs A SHOW.
Senator McCarrcn asked some questions.
Q.-Aro there as many men employed ip your
there were before the trust was fotmed2 A.
Yes. sir. there are more employed.
would yoS PICK "
A;.No. i don't think | would. think that
o.~YoS don't regard the Inducements here as
great seo ns IN 1Op phsSsipsn Hnon Mn
Q.-well, would you think that from the
knowledge he had twenty.nve years ago he
would DO competent ss an expert on the sugar
means, The business has been rcvoiutioniEed
o.eMr. Fuller testified that the people did
sugar. Is that truep A.-That IL very quickly
o.-What is the price OF granulated sugar to-
.0..what is the duty on raw sugar to-day'
OFF there was no duty on raw sugar. What
would be the price of grAnulatod sugar today
Q.-How much sugar has the American Sugar
Company made? A.-The Sugar Renneries
Company have distributed about nftesn hun
drcd million dollars worth in nine years;
and the renned sugar represent A.-Fir,iit
represents the cost Of importation. second tho
cost cost OF Of bsrreis and nd dssrisSon and prot to the
rchner.
A.-The raw material 10 controlled by London
more than any Other market. London quota
tions hx tho value OF our market,
Q.-ls tho American Sugar Refining Company
a large purchaser in Europer Ave have
been buyiuE largely in Europe. especially since
the Cuban trouble
ATTACK CAPITAL AND HURT LABOR
Q.-Now. don't you believe that the increase
in the number OF large corporations and the az
grcration OF capital that exists through thi. In
crease have n tendency to work TO the disad-
/. a mistaken idea. Ali the efforts that are
labor. Every movement made that has ten.
deney TO destroy con hdence in capital is against
lara In New York city waiting to go into indus
trial Investments that are kept from sueh In
on capital already Invested, ..,
We'll" said Senator McCarren, what kind
isins %era ssi YGa Mr. sssfs IL
had less legislation we would be better of.
think that II whzt avs were made were made
rather than driving II out New York ~ould in
crease largely in her manufacturing industries
aud employment for labor would Increase corre-
spondingly. Tho whole tendency OF things has
been to discourage, TO drive away capital. So
and capital In endangered and is put ana kept In
a defensive position. believe that there can DO
able to Increase ts industries. So labor will not
receive Increased employ ment ,,,
that these somb binations of capital make the
consumers suffer"
:. They certainly do not. said Mt: searis,;
the state of New York. That is the law OF snp-
ply and demand. No trust has eyer been yet
organized, no corporation has ever beon created.
and there never has been any computation OF
capital Of any sort big enough TO violate that
dustriai pursuits, but II ali tho hundreds OF
of the law Of supply and demand would bring
about the destruction OF all the wealth. The
consumer is amply protected by the operation OF
this law, Just, AS the combination OF capital 10
held in check by It,"
This was too much for the nerves Of Senator
Lexow. and he had to break In here and try tho
dccimals ho had fred at poor Lawson n. Fuller.
sIt Mr Ssarss @ sn,s wasn't sng 'psSsimg tube: he
ceived very large shares OF tho benefit that came
from the reduction In the price OF raw material.
creased during the last ten years about 40 per
cent.
THAT accounts for tho increased number of
men employed. does II not 2" asked Senator Nc
Carren. at last succeeding In getting the better
of the Nynck man.
1T does" said Mr.. Searles.
Then there was more tslE about the books.
you got to conceal2 Why not have all the In
formation contained in tho books laid before
upr
why not7" asked Mr.. sesrlSs. " Because It
Is not business to mako public the business
secrets OF tho American Sugar Renning Com
pauy; It 10 against the policy OF the State; IL
would do no good to anybody; Il would serve no
purpose At ALL"
THE FACTORS AGREEMENT EXPLAINED.
A little later Senator McCarren asked Mr..
Searles what was the object OF the factors. MIR.
Searles replied;
II will toll you what the object is; Tho
Wholesale grocers had for years made n leader
Of sugar. They had sold II without any profit
aud without realizing sufticient to secure the
cost of distribution, sugar represented about
40 per cent. of their sales, and ma king loss on
that left their business IN n very baa condition.