The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1899-01-03
SUGAR TRUST STRATEGY
JUGGLING WITH THE STOCK FOR
PROFIT.
Rumors That the War With the Ar
buckles has Been Ended-But Prices
are Cut Later.

NEW YORK. December 1j.-The
stock of the American Sugar Refining
Company has been very active for
several weeks and many explanations
have been offered by the observers OF
today's market. There was persist
ent rumor on the Stock Exchange to-
dav that the great war between the
Sugar Trust and the Arbuckle Broth
ers and other Independent retners had
been settled. The appearance of hos
! tility. it was said is being kept up on
| lv for the purpose of manipulating the
! stock of the American Sugar Refining
| Company.
According to the current story the
trust and its competitors declared a
! truce several months ago and organic
ed a pool to recoup their losses. The
combined effort was sustained for sew
eral weeks to force the stock down
from 15j to par. Within three weeks
the common stock dropped to 113, the
war came to a sudden close and the
public began to buy stock by the
hundreds of thousands of shares n
day. In this avalanche of popular
buying the manipulaturs were swept
ed upward.
Then, as the rumor goes. the direc-
tors of the trust determined to pass a
regular quarterly dividend of per
cent. 1t is said that John +. Searles
who had been in Europe for his health
hurried home to protest against this
He arrived a day before the meeting
was held and the regular dividend was
Il .,,l,, ~ Ia, -,
break the stock to par, as the story
goes, the Sugar Trust is now ready tC
admit that truce had been declared
with Arbuckle and that the trade is
once more in a state of harmony.
1t is maintained, however, that the
trust is not prepared to make these
admissions which will send the stocl
up to the 200 mark, until the policy
of the senate towards the Philippines
is settled. The rumor is that the pol
icy of the open door" in the Philip
pines has been dictated by the Ameri
can Sugar Refining Company. wliicf
wants Philippine sugar shut out from
competition with the Hawaiian crop
which it has just bought.
NEW YORK. December 22-ThC
American Sugar Refining Company an
nounced "A reduction in the price O.
package sugar from SIS to 300. equa
to nc a pound.
CHICAGO. December 22.-NrbucklC
Brothers have today begun selling SUI
gar direct to retailers. ignoring the
iObbing trade here. Sales to retailer:
were made today at go per pound fo1
standard fine graduated. which wa,
nc under the Trust price
TACOMA, Wash, December 21.-Pu
get Sound shipping men and tn,
Northern Transcontinental Railroa,
are ambitious to handle part of tn,
Hawaiian sugar traffic, which nov
passes through San Francisco Barne
son d Chilcoot have made a bid for tn
transportation of 10000 tons of suga
from the Hawaiian Islands to New
York by way of Puget Sound, whenc,
it will be shipped east over the North
ern Pacific and Great Northern rail
roads.
Captain Chilcott went to New Yorl
several weeks ago. following the an
nouncement that the sugar trust hat
: purchased the Hawaiian sugar outpu
l for the next two years. He entered
INTO negotiations with the sugar trus
and expects very soon to receive tn,
contract which his firm is bidding for
He announces that sugar will b.
brought here in sailing vessels ant
arrangements are being made for tn
docking of them at the Northern Pa
cific wharves.
If he gets the contract the first car
go will leave Hawaii in January.