Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-15
THE SUGAR INDUSTRY
h. O. Haveneyer Talks About It
Before Industrial Commission
PRESENT TARIFF TOO HIGH
4 is Characterized as The Z" Mother
Of All Trusts"
qnrsr PRINCIPLE IN BUSINESS.
II simply Represents the survival
of The FitteSt''-No Philanthropy or
rRrsT PRINCIPLE IN BUSINESS,

WASHINGTON. June 1-Mr. Henry
ID Hayomcyer. president OF the American
s-ar Refining Company, was examined
lr the Industrial Commission to-day III
Connection with its investigation Of
trusts.
U.. testimony related almost Who"y ~
Oh. sugar industry. and he 'peneu WIN
au .uack upon the customs '"I'"'
81. ...i,rod ms the mother OF All
.~,,..... t...or,inss such by providing an
t,,,~.,t,,,,. protection 10 manufactured ar
te'cs."
continuing his statement ne asserted
..f a tariff of 10 per cent was as high
any tariff should be- He contended
shat sugar is Disseminated against in
,.e tu1 in the interest of the Louisiana
....-er.wers. the bcet-sugar makers
... OBJ. saear-growers of the Hawaiian
Islands. no these interests, he contended'
. United states contributed $2i0OOo0
ly which was taken out of the
t- of the people The protection on
..- mounted 90 only one-eignth of a
... . pound. or about 8 II per cent. ad
....r. DO ought to be twice as much.
.1..t the sugar-rodning business has
. or is paying. represents nothing
" taan am adequate return on the
...... invested" he said.
WAT CONGRESS SHOULD HAVE
DONE.
...- Congress hould have done was to
. ..t am internal-revonue tax on the
% production Of sugar. The rep
..u0us made in Congress concern
.. trust. he declared, were untrue,
,.ttit was "a fact that the people suf-
e., from trusts they must blame the
.uve-tar.M system, of which The
.-s were merely the machinery. NO
ntaee had ever been taken by his
-..r,- of the protective system beyond
...-oishth of "a cent gwen. lie ao-
.rd freely that the company ala all
.Ile To- advance its own business IN
ISIS. lie did mo-. think the corpora
were under obligations 10 the az
ut States, but that the reverse was
....rital and labor" he stated would
..u.... .dius. themselves if let alone.
I.. ..v way To prevent competition
AIR. Ha..meyer testified, was 10 Keep
prices .t . minimum-nOt necessarily Hi
Oh. Interest 0r the consumer, but as
matter ot business. lie referred 10 inc
antitrust lass. If some of the states as
premium 0- dishonesty, specllHlHs 'l'
souri, laW There We're always Two
classes of people i'm a community-lhe ll-
,rious anu those who wanted 10 i've
,- them.
..alvire to questions from Professor
-- after he had concluded the reading
his paper. Mr.. Hayemeyer SAID the
.can Company was capitalized lot
ia ass than it was worth.
rrr TRUSTS CAPlTALIIATION.
.u+ l1r the clamor against trusts
-.II .it could be sold for three tunes
-ItaIzluon.'
r lo thought the refneries could DE
....t for Ss5o0J0'0 or 100000. The
,...t ..uacitv of the trust is, he said
-. barrels "a day. and the output 5OVVV'
.-.t the trust was refining about
... ...t of the sugar refined IN the
I. States.
. -- spoke very freely Of the
mr. The company I'm preserving and
,. -s business. lie said DE did
...... Harrison refinery, at Phila-
.t We had 10 fight Spreckels
me into the hcld Win MS
,u,. mt" he continued. we had
r..r .. suspend our dividends We
... . tre FIGHT. and we kept 1t up
..t the refinery.
... .rop in the price OF sugar hau
l d by he starting OF new re-
which had threatened 10 take 90
.f 0t The business.
.I. .. part OF our policy 10 put pi'ee9
ana Dor the opposition take the re-
.t. Whatever il may De. Every sale
.r tl. opposition displaccs so nluCn
D'.. American Company's product he
-We must protect our OWE Du5i-
i"
N.T MOVED BY PHILANTHROPY.
I- Halrmcver then went ON to say
t What the company did 1t ana hot 40
tu motives OF phIlanthropy-tha IL hau
..H -hareholders 20 protect
.....tv con buy our stock ne con-
.and ss consequence the punhc
t. .H- stock. But j doubt whether any
h want any Of the Stock Oh 'io
pendent rehnerics. o.,
many stockholders have your
s Professor jerks.
t.I ID TO-" ne replied ana added,
fp take Cuba, ana lhey WON"
they could"
u.r remark was made I'm light
F. H. stated as his opinion that Gu
t r should be brought In free OF
... fbat this course would bring re-
t SUGAR down 20 cents pound
liE COFFEE BUSINESS
aae o. the coffee business Mr.
A....s.r said he was In the business
' t If To- stay.
Ar Hayomeyer's statements aroused
interest and the next three hours
voted DO answering questions ASK
m n rapid succession By members Oh
.uu. lion.
ifs' declined 10 state wheiher lho
HF was making money at present
nt aat was the business Of the COM
alone but ne afterwards made an
.'rnl statement which the comhiiS-
Construed into an admission That the
was not profitable now.
LITTLE REGARD FOR RIVALS.
Iae witness confessed that his company
very little regard for the welfare or
in business, saying that prestige
} oporience. and wealth would win
i0 long run In the struggle. ard that
were an example Of the survival
.ND attest in business.
Ihat b. trade" he said. "and the
a.g YOU realize Il and quit trying 10
,'1lIol IL by Federal legislation the bet
~ 4or all. a man cannot expect 10 have