Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-12-13
Will Soon Have a Rival in
the Business,
PLANS ARE MATURING
And the New Company Will Have a
Capital of One Hundred Million
DOllarS-Men Who Are at the Head
of the New Concern.

New York, Dec. 13.-Tne Herald says:
If present plans are carried out the Ann
erican Sugar Refining company, COM
monty know as the aga trust. is soon
to have a new and powerful competitor.
Papers are now being drawn for the in
corporation, under the laws of the state
having an authorized capital of $780,
900, 900. Lawyers who are confessedly
at work on the incorporation state posi-
lively that the new company will be in
no way allied With the sugar trust. They
hint strongly at opposition. Intimations
that f.. O.. Mattl essen, who has now
severed his connection with the trust, the
Doscner interests, whose New York SUI
gar refining company is fighting the trust
and other independent retineries who are
arrayed against the trust, are to be
merged into the new company, come
from the same source, although the in
tereSts in question deny knowledge OF the
scheme.
The new ompan plans to do business
in Cuba, Porto Rico and Hawaii as We'll
as in the United States proper. Mr..
Matthiessen is the leading spirit in the
Glucose Sugar refining company, which
has headquarters in Chicago. Definite
statements regarding the proposed new
sugar company We're obtained from
: James Wolcott, a member of the firm OF
Hughes and Wolcott, prominent corpor-
alton lawyers of Dover, Del. Mr.. VOL
colts partner, Charles Hughes, is secre-
tary of state of Delaware. MI. VOL
colt was in this city on business touch
ing the new concern. When
questioned regarding the plans for the
mpan he expressed surprise that they
had become public, out admitted that he
was wnrlxinp on tha ipac,~nnrat inn ma narc
THE matter is not yet ready for pub
tic announcement said Mr.. Wolcott,
land l am not at liberty to give any but
bare details of the scheme. We pur-
pose Incorporating a company under the
laws of Delaware with an authorized
the Colonial Sugar company although
the name may be changed before the
charter is applied for. 1t may be the
Federal We will awe the
right to refine g both here and in the
country's new colonies, it being our idea
that sugar grown in Hawaii, Porto Rice
or Cuba can he refined there and brought
to this country in the refined state more
cheaply than it can be refined here after
importing the cane. Headquarters fOl
the new company will probably be boti
in New York and Chicago
Mr.. Wolcott refused to give the name!
of the incorporators. When asked
whether the company will tbe connected
with the American Sugar Refining com
pany, he said:
Most assuredly not. l think you will
find that we will be quite a ditreren
concern"
will Mr.. Matthiessen or the Doschers
or the Arbuckles be connected with you
c~ompany?'
'iAll the names and all the facts will
come out in good time. AS yet we ar
not ready to make announcements"
when do you expect that the new com
pany will be organized?'
''1ahat I cannot tell. The incorporate,
papers are not yet completed. We ar
looking carefully into legal question
touching on the right to do business i
the colonies. I can say nothing as t
the capital interested in the compan
except that / have been told that &c,
man interests will be connected with
and that a Wall street banking hous
with connections in Berlin will be inter
ested."
A representative of the Doschers said
I'VE know nothing OF the new refinin
concern. AS to the possibility that
will buy us out, you may say that if w
are offered our price we may SELL