The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-04-12
The SUGAR TRUST
HaVemeyer Remains King Of The
Combine
PLANS OF THE OPERATORS
Attempt to Organ ze Opposition
Large Refineries Satisfied
Belief of Wall Street.

NEW YORK, April 3.-The Evening
Sun says: Sugar will sell at 200 or
over" Such has been the confident as
sertion in Wall street for a week or
more; and on that assertion and on
the contribution to its efficiency Of the
gambling element, or that part of the
gambling element which is engaged in
putting sugar up, the price has ad-
vanced. Doscher and Arbuckle have
settled with the American Sugar Rein
ing Company. Each is to have 10 per
cent of the business of refining sugar
and the remaining so per cent is to be
|apportioned among the other refiners;
that is to say, the American Sugar Re
filming Company, the Mollenhauer, Ma
ltional, and others
On these statements the price of
sugar has been advanced and for all
that we know will continue to be ad-
vanced. If any one is curious enough
to ask for details there is no hesitation
about furnishing them. The deal was
treasurer of the Sugar Trust He
called a meeting at his house, and
there were present the Doschers, the
Arbuckles, the Mo,lenhoueSs. .za3f "a
dozen of Standard Oilers, led by H. H.
Rogers, and every other sugar ele-
ment outside of the American Sugar Re
fining company. The proposition before
the gathering was to unite all the ele-
mentS and present a homogeneous
front to the trust. 1t was enthusiast
ically adopted, and the result was that
Mr.. Havemeyer was dismayed and, like
Zaccheus, "came down"
Now there is some truth in the fore
going. Such meeting was held at
Mr.. Searles' house, only Mr.. Rogers
was not there. The other elements,
however, were on hand Mr.. Searles
was the promoter of the project and he,
after his company had left, was pain
fully impressed with the lack of en-
thusiasm with which his ideas were re-
ceived. The Mollenhauer and National
people said that they had always been
decently treated by Mr.. Havemeyer.
and if they weren't making any money
at present it was certainly not his
mood, but couldn't see anything prac-
tical in the outlook. He would like
the arrangement we'll enough, but mat
ters would have to work a little further
before anything could be done As for
Mr.. Arbuckle's representative, all he
could say was that he was favorable
to any common-sense arrangement
that could be prepared and which did
not close the Arbuckle refinery John
Arbuckle was in this thing for keeps
and S100, 100000 in cash would not buy
the 'Ariosa' outfit"
It should be observed, by way Of eX
PLANTATION, that one Of the details Of
the deal was that John Arbuckle
was to have the Woolston Spice Mills
of Toledo, now operated by the Ameri-
can Sugar Refinery. for the sake of the
Zion brand of coffee, turned over to
him. People who are conversant with
the coffee trade will understand this.
The most curious thing about the
whole situation is the relation between
the alleged facts about sugar" and the
market for the shares. Such is the
condition of the public mind in regard
TO speculation that it is wholly unable
to accept information that is against
its own bent. There are about 11,500
shareholders of the American Sugar
Refining Company, and they hold their
stock in all kinds Of weather. When
it goes down on the stock exchange
they are depressed, but undismayed;
and when it goes up they are elated,
but sedate To rejecting observer
If would seem that while they could
not be shaken out by low prices they
might be coaxed out by high prices.
The fact is, that Sugar would have
to 90 below par before the sharehold-