New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-12
SUGAR WAR ON IN EARNEST.
THIS is BELIEVED TO RE PRESIDENT
HAvEMEYER's MEANING-C. r. HE1kE
ELECTED SECRETARY OF
TIE COMPANY.

The annual meeting OF the stockholders OF the
American Sugar Refining Company was held yes
terday az the companys office. IN the Jersey CITY
refinery. The majority OF the stockholders were
represented by proxy. President H. o. Havemeyer
made short address, in which he said;
since the as; stockholders meeting have re
CURED change OF policy. which. AFTER run aenDer-
has resulted In a policy that meets their uhahi-
nous judgment and approval -, - j,
I can assure the stockholders that the Board ana
its officers doing all In their power 20 nlest M
varying conditions II Is most s1ihor i1St n,,r
sued under changed conditions - IN accprI-r nc
with the unanimous Judgment OF tne ,h hone ~
the directors that the annual meeting may ne NJ
tended by stockholders In person
The financial statement was then presented and
G. r. Heike o., Jersey City. was elected secretary
pro TEN.
Henry r Road OF Boston. offered resolution.
which was adopted ratifying the action OF the
directors NJ a meeting held on January lo "heh II
was voted that the accumulated profits OF the COM
pany less the dividends declared up 70 aa'e' IN
Guiding the one paid on January 3. b. reserved as
a working capital
Another resolution offered by Mr. Read was also
passed adopting the bylaws revised enlarged
and amended by the directors az their meeting on
January s. The following directors were then
elected: John L. Parsons, reelected; Lower VI.
Palmer. TO succeed John f. sear!es. and John
Mayer, re-eltclel- MI mayer was 49,
Board fen weeks ego. 10 succeed William DICK
who resigned At that time.
After the meeting President Havemeyer said'
The action OF the directors on the dividend quss-
ton does not imply that no DIVIDEND WI. " e r
cared this year. The changes IN the Dyta"s - =
such as 10 give the power 10 the president oI me
company 70 suspend any officer OF the colipal.S .
They create an Executive Committee, whlch hts
the power. under the direction o. me boaIC Oa
company with the exception OF the power 70 ~ =,
thor1ze the expenditure OF money 10 the BpaIu
of given the power 10 remove Ohietl >
In relation 10 the clause in my annual report peai
ing on the policy OF the company the reference Is
70 the diminishing difference between the pil.e VI
raw and refined sugars The whole ACTON Oh ~
days meeting is give more concentrates p ONNSI
10 the Executive Committee In the cohllNud llon
OF our trade relations. would not care 10 SaS "o"
far the trade fight will go.
At a meeting OF the new Board Of Directors yes
terday afternoon the following officers were elect
ed: President IL O. Havemeyer; yice-presldent.
Charles H. senn; treasurer. william 3. Thomas:
secretary c. r. Heike. Mr.. Thomas was Formerly
owner OF the Standard Sugar Refinery. OF Bos-
ton which IS now the property Of the American
Sugar Refining Company. Mr.. Heike has been IN
the employ OF the sugar company since us orsaL-
izatIon He has been the auditor Of the company.
and will continue in that office as well "a act p
secretarv The Executive Committee ls 10 consist
az II - Havemeyer c. H SEMI +. O. Matthiesen,
The change Of policy referred to by President
Havemeyer his address 10 the stochuvluer7 -
understood TO mean that the war y on IN eariesl
between the American Sugar Refining company
and the interests represented oy ths ~ oiehe NJ,
and that the sugar company will meet al GUS
made in prices by It's competitor. sugar closeo OF
the Stock Exchange yesterday at Lb net oecl4ne
for the day Of only 5 Of per cent