Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-12-13
TO FORM SUGAR TRUST.
American Sugar Refining Company 10 Have a
Powerful Competitor.
New Concern with sI,O00,000 Capital
VIII be Launched In Delaware
In the Near Future.

New York, Dec. l3.-The Herald says:
II present plans are carried out the
American Sugar Refining company,
commonly known as the sugar trust, Is
soon to have a new and powerful COM
petltor Papers are now being drawn
for the Incorporation, under the laws
OF the State Of Delaware, OF a new
sugar concern having an authorized
capital Of 500 100000. Lawyers who are
confessedly at work on the lncorpora-
ton state positively that the new COM
pany will be In no way allied with the
sugar trust. They hint strongly at OPP
position.
limitations that Il. O. Matthiessen.
who has now severed his connection
with the trust; the Doscher interests.
whose New York sugar refining COM
pauy is fighting the trust, and other
independent refnerles who are arrayed
against IL, are 10 be merged Into the
new company, come from the same
source, although the interests In ques-
ton deny knowledge Of the scheme.
The new company plans to do business
In Cuba, Porto Rico and Hawaii, as
well as in the United States proper.
Mr.. Matthessen Is the leading spirit
In the Glucose Sugar Refining COM
pany. which has headquarters in CHI
cago.
Definite statements regarding the
proposed new sugar company were OBJ
tained from James Wolcott, a member
OF the firm OF Hughes and Wolcott,
prominent corporation lawyers Of Do
yer, Del. Mr.. WolcOtt's partner, Chas.
Hughes, Is secretary OF state Of Della
ware. Mr.. Wolcott was In this city on
business touching the new sugar con-
Germ When questioned regarding the
plans for the company, he expressed
surprise that lney had become public,
but admitted that he was working on
the Incorporation papers.
The matter Is not yet ready for pub
lie announcement said Mr.. WolcOtt.
"and ! am not az liberty 10 give any
but the bare details OF the scheme.
We propose Incorporating company
under the laws Of Delaware with an
authorized capital Of sl0OOO00o0. II Will
be called the Colonial Sugar Refining
company, although the name may be
changed before the charter Is applied
for. Ii may De the Federal company.
We will have the right " refine sugar
both here and In the country's new COLI
onies, II being our Idea that sugar
grown In Hawaii Porto Rico or cuba,
can b. refined there and brought 10 this
country In the refined state more cheap
ly than II can be refined here after
importing the cane Headquarters Tor
the new company viii probably be In
both New York and Chicago"
Mr.. Wolcott refused TO give the names
Of the incorporators.
When asked whether the company
win be connected with the American
Sugar Refining company he said. Most
assuredly not, think you viii md
that we will be quite a different con-
Germ"
"Wln Mr. Matthlessen or the Doschers
or the Arbuckles b. connected with your
company"
IAN the names and all the facts will
come out IN good time As yet We are
not ready 10 make any annOuncem lnts.'
when do you expect that the new
company will be organized?'
THAT | cannot tell. The inc0rpora-
ton papers are MOI wv NVHPicttu' We
are looking carefully into legal Ques-
lions touching on the right TO do busi-
ness In the colonies. ] can say rpthing
as 10 the capital Interested In the CON-
pany, except that | have been told that
German interests win be connected With
Il, and that a Wall street banking house
with connections In Berlin will be In
terested."
A representative OF the Doschers
said: we know nothing Of the new
refining concern. As 10 the possibility
that Il Will buy US out, you may say
that II we are offered our price We may
sell"