The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-13
NEW SUGAR TRUST.
independent ReRncrs Arc To Com
binc Against Present Trust.

New York, December 1.-The Herald
says; II present plans are carried out the
American Sugar Refining company COM
monty known as the sugar trust, Is soon
TO have new and powerful competitor
Papers are now being drawn for the in
corporation under the laws of the State of
Delaware OF new sugar concern having
an authorized capital of 100000 900.
Lawyers who are confessedly at work on
the incorporation state positively that the
new company will be in no way allied
with the sugar trust. They hint strongly
dt opposition.
intimations that II. o. Matthiessen. who
has now severed his connection with tho
trust: the Doscher interests. whose New
York SUGAR refining company is lighting
the trust, and the other independent REIN
ers who are srrayed against It are to
be merged into the new company como
from the same source. although the In
terests in question deny knowledge of the
scheme. The new company plans 10 do
business In Cuba, Porto Rlca and Hawaii.
a. well as in the United States proper
Mr.. Mathiessen is the leading spirit in
the Glucose Sugar Refining company,
which has headquarters in Chicago. Def
mite statements regarding the proposed
new sugar company were obtained from
James Wolcott member of the firm of
! Hughes & Wolcott. prevalent corpora
T.
partner Charles Fughes Is secretary of
state Of Delaware. Nj Woleott was In
/ this city en- business touching the new
sugar concern. When questioned regard
| ing the plans for the company he eS-
pressed surprise that they had become
| public, but admitted that he was work
| ing on the Incorporation papers.
Tho matter is NOT yet ready for public
announcement" said Mr. Wolcott and
| am not at liberty TO give any but the
bare details of the scheme. We purpose
inco ,porating a company under the laws
of Delaware with an authorized capital 0f
500 900 900. 1t will be called the Colonial
Sugar Refining company. although tns
name may be changed before the char,er
is applied for; it may he the Federal com
pany. We will have the right to refine
sugar, both here and in the cdnntry's new
colonies, 1t being our idea that sugar
grown in Hawaii Porto Rico or Cuba can
! be refined there and brought TO this coun-
! try in the refined state more choaply than
1t can be refined here afte ~importing the
cane. Headquarters for the new company
| will probably be in both New York and
! Chicago"
Mr.. Wolcott refused 10 give the names
of incorporators When asked whether
the company will be connected with the
American Sugar Refining company nc said l.:
| Most assuredly not. ! think you will
lind that we will he quite different con-
Germ
"Will Mr.. Matthessen or the Doschers
or the Arhuckles be connected with your
company"
IAN the names and all the facts VIII
come out in good time AS yet we are not
ready to make any announcement.
when do you expect that the new COM
pany will be organized|
THAT / can not tell. The Incorporation
papers are not yet completed. We arO
looking carefully into legal questions
touching on tho right to do business in
the colonies. I can say nothing as TO the
capital interested In the company except
that ! have been told that German inter-
ests will be connected with It, and that
Wall street banking house with copnec-
tons in Berlin will be interested"
a representative of the Doschers said,
I'VE know nothing Of the new refining
concern. As TO the possibility that it will
J, buy us out, you may say that If we are
offered our price we may SELL