New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-07

|
In answer to other questions from the chairman
Mr. Arbuckle again asserted plainly that in his
| opinion the Havemeyers or the Sugar Trust peo-
pie, We're In the business for the sole purpose of
driving him out of It, for no other reason what
ever.
| THE QUESTION OF COMPETITION
"Your idea Of proprie.y In the matter" said the
chairman 'is to b, left undisturbed by competition
| In the coffee business.
mot at ALL sac the witness nervously, mot at
| all That Is not the point, by any means"
What is the point. them" came the question
THE point is that we do not object to fair and
| healthy competition. What do object to is do
Ing business at loss. and that Is what the compe-
| tition Of the IIavemeyers means That shows
whether they I'm the business because they con-
slider 1t a good business not"
Are you acquainted with the particulars Of the
purchase Of the largest part OF the Woolson Com
| pany by the Havemeyers the Sugar Trust?''
| asked Senator Iexow.
ITO some extent" was the answer "but my part
ner Mr.. Jarve. could tell you much more Of that
| than can"
is Mr. Jarvie in court7"
ole is"
| This ended the testimony Of Mr. Arbuckle and
Mr.. Jarvie called. He is a tall square-shoul-
| dered man Of forty-fve fifty years. wearing a
short scrubby beard and cose-cropped hair. Mr..
Jarvie's testimony on Friday had been of a most
interesting character He had described in detail
the alleged threats Of certain agents Of the Sugar
Trust thai If the Arbuckle Brothers went into the
sugar-renning business IL would be fight 10 the
bitter end. Henry O. Havemeyer had denied. how
ever that the agents spoke with the authorization
Of the sugar company.
The testimony OF the Arbuckle people mao peen
good deal Of a surprise most people. The profits
of the coffee business. as set forth by Mr. Have
meyer were among the most surprising features.
and the struggle with the Arbuckles that was
planned by Mr. Havemeyer PROMISE: interesting de-
yelopments in the commercial world. Senator
Iexow seemed DESTROYS of getting more light on
this subject. and he started in without any delay.
as the coffee business prontable:' his first
question.
We'll. It has been a good business" was the re-
ply.
How many firms are competing in that busi-
ness2'
The witness scratched his head for a moment and
then said that there about 1000 competing
firms in various parts Of the country.
"As many as that?' asked the Senator
yes every wholesale grocer mas MS own rVasU-
ing and grinding plant"
What are the largest concerns in the business?
"'rhe Wooson Company. Mclaughlin e. Co, OF
Chicago and Arbuckle Brothers
do these firms you have mentioned compete with
your FIRM"
Now is It not a fact that your firm and the
other two you have mentioned the Woolson Com
panv and Mclaughlin Co.. practically controi
the coffee business Of the country
Yes the package trade
''What do you mean by the package uaoe'
1.-TWO and one pound packages
"Now is there any agreement between your firm.
arbpckle Brothers, the Woolson Company ana Nc
Iaughlin & Co, or between any two OF the three
az do not know and cannot say as to that. There
may be- but | cannot say
is the Woolson Company DONG puslheSs NJ
loss or at profile
AT a loss think"
do YOU consider that gain 10 the consumer!
Yes | should regard II as SUCH
A DIVIDEND OF 20 PER CENT
did the wooson Company at any time declare a
dividend Of 80 per cent?
Il think 1t did"
when was that?"
Last year. / think"
Can you tell the manner In which 1t was
declared?"
81 cannot don't know"
Now. the firm Of Arbuckle Brothers holds some
shares in the Woolson Company. does It not?"
at does"
How many?"
Sixty / think"
It is interesting to note here that John Arbuckle
testified on Friday that his firm bought these same
shares because 1t learned that the Sugar people had
bought the rest Of the stock in order have club
as ne said to hold the heads OF the Arbuckes.
when did you acquire those shares?" asked the
chairman.
Has a dividend been declared since then?"
What was the original capital contributed?"
"it was 20 per cent Of the capital stock"
Then do you give US 70 understand that the 20 per
per cent of what was actually paid in?"
The bn sc,n ioGk Gsn s on The nominal
capital stock is 100000 1t was on the actual capital
Now" said the chairman, rs 1t your idea that
such a profit is fair oDc| -
Snss ana s1pned @ h %1a o ss Sa
think the people will endure condtion OF anars
hodeTs a the end Of ten business ali the
money they originally invested and still allow them
TO own the entire business? 80
There was a ripple OF applause at this from the
chairman said sharply: I'VE want no demonstra-
Mr Jarvie finally answered that his company
made such profits: nor indeed at the present time
4 am not speaking of the firm Of Arbuckle Broth;
f fhe w sod company Doesn't IT YOU hat
il has been taking advantage Of consumers?
in charge Of the company have proved Themselves to
be srewd business men ana hat they sr nave
sy lucky IN getting raw matera4 cneaR pm has not
been 50 fortunate as the wooson Company"
wSu n not put 1t Aa so hat .S way
arer and he aid say, that every coffee company
had been making money lately.
b1 ,bai aDo YOU mean to tell me-" ne went on.
sThat you think dividend Of 60 per cent is fair
pThe witness didn't answer this question either
Instead sad that on his investment IN the shares
de" Yes but It 80 cent on the original stock
that that is fair proiit!, ,. 49,. ,,.,,o..
II do not wish TO make comments on the business
NJ competitor" said Mr. JarVie
WHAT MAKES THEM POSSIBLE
ssrator Lexow finished this episode with the re-
o., ..rh,. eyceptionalIy clever facility IN max