New-York tribune., 1899-06-15


Premium on @ dSonesty IN Other State. the at
eessity. II The producers Of such articles were to
follow the lead and to combine TO keep their com.
would would result / e. either the people would be com
pay inordnate price.
Trade Will always take OF itself. II it Is left
to pursue ordinary channels. A viii see to It that
r does have any extraordinary advantages
It is only when the State nterferes that situation
against the Interest," nj s'E of the conmany "N'
nese Of Sys 5 are T9 winch ana w0
a patent and copyrights: II is universally recos-
hfeG ha Of f t % IN he % S not Sai xb
comes from Unfair @ PU1f tarir di.cfiminscn '"
expense OF the Government must OF course. be
provided for Tariff FOR the purpose Of eGuali5,ing
does not need to be Justified Beyond that there
Of no % pT cent rGr a. IS pdr cen for
or any more than Il Ter cent The result is that
the interest Of some favored industry.
II must be kept in mind that this Is a rich
mind that the object Of every one is TO make the
country stronger. Weather, more important more
The hostile acton to which have referred ,, lesis-
Tate results would make the country less Pv Power
ful. It's people less prosperous and would desroy,
Citizens are divided into two classeszthe indus.
OF others. 1t Is they who are without capltaI VINO
hostile to it. This is only another mode OF stat
without who wish to have It without work
Replying to questions by Professor Jenks ar'er
the reading OF his paper, Mr.. Havemeyer salo 'ne
American Sugar Refining Company was capitalized
for much less than It worth. But lot 'ne
camor against trusts" he said. at could be sold
for three times IT'S capitalization. Yet he though'
the rehneries could be duplicated for 100000 or
sO0O.0oO The present capacity OF the trust ne
said is forty-fve thousand barrels day. and the
output thirty thousand He thought the trust was
Der
the United States
The witness spoke freely OF the methods OF the
company in preserving and extending its business
OF carrier history of the enterprise he said he
didn't fight the Harrison refinery, at Philadelphia
But had to hght spreckes when he came into
the field with his enormous plant We had TO do
that suspend our dividends. We went into the
fight and We kept 1t up until we got the refinery
CAUSE OF FALL IN SUGAR PRICES,
The late drop in the price Of sugar had been
caused by the starting Of new refneries which had
threatened TO take so per cent Of the business IT
part OF policy to put prices down and let
the opposition take the result. whatever II may be
Every sale made by the opposition displaces so
much Of the American company's product, he
said. I'VE must protect our own business" Mr.
Havemeyer went say that what the company
did not from motives Of philanthropy-that II
had Its own shareholders TO protect. Anybody
can buy stock" ne continued. "and as con-
sequence the public owns the stock But doubt
whether any would any Of the stock OF
the Independent rehneries."
How many stockholders have you?' asked Pro-
fessor jerks.
About e.even thousand" he replied and added
Enough to take Cuba-and they would take IT II
they could" His opinion that the Cuban
sugar should be brought In free OF duty. and that
this would bring refined sugar down TO
three cents pound
Speaking of the coffee business Mr.. Havemeyer
said he was in 1t to stay.
LITTLE REGARD FOR RIVALS WELFARE.
Mr.. Havemeyer's statement aroused great inter
est, and the three hours were devoted 10 an
swering questions asked in rapid succession by
members of the Commission. He at first declined
10 state whether the company making money
at present. saying that the business Of the
company alone. but he afterward made in
cidental statement which the Commission con-
strued into an admission that the business was
profitable He confessed that his COM
pany had little regard for the welfare OF rivals In
business. saying that prestige ability. experience
and wealth would in the long run. and that
trusts were an example Of the survival OF the
THAT is trade" ne said "and the sooner you
realize 1t and quit trying to control II by Federal
pect to have himself continually wetnursed by the
Government. II men do not want to buy our
ment protection. II they wade in and get stuck
let them get out and II they wish wade In again.
The fate Of rival concerns is their AFFAIR. not
member Of the Commission. Mr. Havemeyer said
Il don't cents for your ethics. ! know
nothing about them. l talking about busi-
ness"
He declared that the tariff enabled the Steel Rail
Trust TO mulct the public 10 the extent OF 81 a
not yet announced what he was going to do with
MI Havemeyer said that the laborng element
doing they sacrificed much independence. and
the unions had the effect Of bringing other men
a friend oe labor. and said that good men In the
employ OF the trust received 10 per cent more than
in business which looked cold blooded and harsh.
but business conditions often required conduct
tustifying such characterization. The farmers. he
thought, ought 10 establish trust for their pro-
He declined to say whether he was Interested in
the NoIlenhauer and Nash refneres. and also
whether recent dividends Of the paid
from current receipts or accumulated surplus. he
declared that his company had not gone into
Reports that such consolidation had been
effected were untrue.
duct huyiness AT a loss and still declare dividends,
Mr. Havemeyer declared laughlngy: zone is an
executive act and the other matter OF business
He expressed the opinion that II would be good
plan TO submit the books Of business firms TO
Government inspector. He closed with protest
against what ~ called the tariff determinations
sSsinst sugar reiterating that II was due entirely
10 the feeling against COmbina tons In business
THE sugar refners have never lad tair nearing
90 the hands OF the Ways and Means Committee
he said when ] came here az an indlviduaI
they were willing 70 give me anythihe Dui "hen
entne Company. OF FIVE times the Importance, ASK
Ing for an adequate tariff, was told to get out
Ia raceived no consideration. Yet the day OF the
hnut,dnaI an is mast II the OF the people profit
a. the expense OF the individual, ne must go
coyrRACT WITH AMERICANS TO STAND.
r,r-t-v ~Cu TO