The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-06-15

law contrary to what the sugar refining
industry properly required, resulted, ir-
respective Of the great industry and in
justice done, in the passage of the ex-
isting sugar schedule Whether the
sugar refining company has been a ben
eft or an injury to the community can
be best expressed in table ehowing the
prices for considerable period prior
to the formation of the trust and for q
corresponding period subsequent. The
difference since its formation shows an
advantage to the consumer-note that,
consumer-of over Il of a cent per
pound. What the sugar company has
disbursed in dividends has been, not
because of any extreme protection under
the tariff, but one of conditions perfect
ly legitimate and commendable Their
record shows conclusively that no ad-
vantage has every been taken by the
company of any protection in excess of
the per cent. claimed, i. e., Il cent per
pound under the tariff"
Profitableness of Sugar Business.
Mr.. Havemeyers statement aroused
great interest and the next three hours
were devoted to answering questions
asked him in rapid succession by men,
clined to state whether the company
was making money at present, saying
that was the business of the company
alone, but he afterwards made an Incl
dental statement which the commission
construed into an admission that the
business was not profitable now. The
witness confessed that his company had
very little regard for the welfare of a
h11c
ability, experience and wealth would
win in the long run in the struggle, and
that trusts were an example of the sur
vival of the firmest In business.
No PITY for Spectators.
There is the trade" he said, land
the sooner you realize 1t and quit try
ing to control 1t by federal legislation,
the better for ALL" A man cannot ex-
pect to have himself made wet-nurse
by the government. If men do not
want to buy our stocks they needn't.
They do not need government protec-
ton If they wade in and get stuck let
them get out, and if they wish to wade |
in again let them do it. The fate of the
rival concerns is their affair, not ours
Speaking of the ethics Of life. suggest |
ed by a member of the commission he |
sald: Il don't care two cents for your |
ethics. know nothing about them. I |
am talking about business"
Carnegie and Steel Trust.
He declared that the tariff enabled the
steel rail trust to mulct the public to
the extent of SO a ton and incidentally
that Mr.. Carnegie had not yet stated
what he was going to do with his
On "a of IoI
Havemeyer said the laboring element
were forced to form organizations, but
that in doing so they sacrificed much
independence, and the unions had the
effect of bringing other men down to a
low level" He contended that he was a
friend of labor, and said that good men
in the employ of the trust were 10 per
cent more than they could get else
where
Things That Look Cold Hooded.
Mr. Havemeyer said that many things
were done in business which looked
and harsh, but that bus-
ness conditions often required conduct
justifying such Characterization. The
farmers, he thought, ought to establish
a trust for their protection. He declin-
ed to say whether he was interested in
the Mollenhauer and Nash refineries,
and also whether recent dividends of the
rust were paid from current receipts or ,
accumulated surplus. He declared that
his company had not gone into COM
bination with any Of the Independent re-
fineries. Reports that such a consoli-
lation had been effected were untrue
Replying to a question as to how he
could conduct business at loss and
still declare dividends, Mr. Havemeyer
declared laughingly: zone is an execu-
i've act and the other a matter Of busi-
ness" The witness expressed the opin-
on that it would be a good plan to ex
Inspector. He closed with protest
against what he called the tariff dis I
against sugar, reiteratinG
hat 1t was due entirely to the feeling
against combinations in business. "The :
sugar refiners have never had a fair
hearing at the hands of the ways and
means committee" he said. when I I
,ame here as an individual they were I
willing to give me anything. but when 6
came as the representative of tho
American Refining company of five
lines the importance, asking for an ade-
luate tariff, I was told to get out and {
eceived no consideration. Yet the day l
If the individual is past, If the mass G
# the people profit at the expense of the
Individual he must go"
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