The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1897-02-18
INTORUBBER,
Lexow After That Trust With
His Sharp Stick.
sEARLEs IS STILL DEFIANT.
He Again Refused to Produce the Book,
Of His Company-rhe Committee Con.
sidering Some Action Against Him
sonae Of the Testimony Given.

NEW YORK, Feb. 17.--When Secre.
tary Treasurer Searles of the American
Sugar Refining company resumed his
testimong before the senate trust in.
vestigating committee he said that the
average margin Of profit for the five
years preceding the trust was 1884 Of o
cent per pound and during the five sub.
sequeut it was 1896 per pound.
The years preceding the trust, he
said, were disastrous to the sugar bust
ness.
Mr.. Searles said he could see no rea-
son why the state should interfere with
the business of the American Sugar Re.
fining company and in the same breath
intimated that there were a number OF
companies and monopolies in this city
that had no legal right to exist.
He still declined to produce the books
of the company.
The committee conferred and Sena-
tor Lexow said he would wait until
tomorrow before taking decisive action
in the matter.
Senator McCarron said to Mr.. Searles
81 want to put a hypothetical question.
Suppose that the 10 companies forming
the trust had not been consolidated,
what would the price of sugar be to
the consumers"
"It would be dearer by about half a
cent q pound" responded the witness,
who added that as much labor is en-
ployed per ton of output now as was
before the consolidation.
Senator Lexow wanted the figures in
that respect, and Mr.. Parsons, speaking
for the witness, said he would request
Mr.. Havemeyer to produce the desired
data.
In reply to Senator McCarron, the
witness said the price of sugar per
pound in 1883 was sos in 1884, 6.Sl ;
in 1887, 6.04; in 1888, 7.15; in 1889,
7.80; in 1890. 6.24, and at present is
cents pound.
Mr.. Searles said the company he
represented was not philanthropic
institution and had always endeavored
to supply the consumer with sugar at
the smallest possible margin of profit to
the American Sugar Refining company.
A 10 per cent increase in wages of en-
ployes had been made after the organi-
cation of the trust and so remained to
this day.
Lawson N. Fuller was recalled. The
essential portion of his testimony was
in the statement that the reineries, be-
fore the advent OF the trust, gave en-
ployment to 25, 900 to 10000 people, 10,
900 to 5000 of whom were discharged
after the consolidation.
I'VE will now take up the United
States Rubber company" said Chair
man Lexow, aud Charles r. Flint, on
being sworn, took the witness stand.
He said he was treasurer of the COM
pany and was also a member of the
board of directors. He explained that
the company was incorporated under
the laws of New Jersey and was made
up of IL companies.
Witness explained that the consoli-
dated companies controlled the entire
rubber output, and the competition was
maintained with concerns in the trade.
"What is the total capitalization of all
these concerns acquiredY
"About $40, 100000"
Witness said that the average output
of the company was from 60 to 60 per
cent of the total product in the United
States.
"How many of the amalgamated con-
Germs have permanently closed?"
"Three." +"
"Now, will you swear that the ele-
ment of shutting off competition as not
considered when the $12, 900 900 worth
Of stock was issued?"
THAT may have been one of the ele-
ments."