The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-06-15
WASHINGTON.

WASHINGTON. June 1I-Henry O.
Hayemeyer president of the American
Sugar Refining Company, was examined ps
the industrial commission today an con-
necf.on with the investigation OF trusts.
His Testimony related almost wholly 10 the
sugar industry. and he opened with a Wig
orous attack upon the customs tarin. wnicn
he declared Was the mother of all trusts.
becoming such ay providing ian inordihate
protection 10 manufactured articles.
This attack was made In = written state
ment, which ne read. Havemeyer assert
ed that tariff of 10 per cent was as high
~ any tariff should be. He contended tnat
sugar Is Disseminated against in the tartn
in the interest OF the Louisiana cane grow
ers beet sugar makers and the sugar grow
ers Of the Hawaiian islands. To these IN
terest he consended. the United States
contributed $4,000 0o which was taken on;
of the pockets Of the people.
Could BE Capitalized for More.
Replying to a question by Prof. jerks.
after he had concluded reading his paper
Havemeyer said the American company
was capitalized for much less than 1t was
worth. ''Rut for the clamor against the
trusts" he said. eft could be sold for three
times its capitalization" Yet the refiner es
could be duplicated for SIS. 100000 TO 500 co.,
co., 'sThe present capacity OF the trust
he said. lis 5000 barrels day. and the
output $4,000"
Havemeyer then went on to say that
what the company did. IL did not do from
motives of philanthropy-that 1t had ITS
own shareholders to protect
Anybody can buy our stock. ne con-
tinued. land as consequence, the pupne
owns the stock. But doubt whether any
one would want any OF the stock Of the
Independent rehneries.
"how many stockholders nave your
ABOUT ii CO.," he replied. He then add
ed, Enough to take Cuba, and they would
The latter remark was made in a light
vein.
Havemeyer stated as his opinion that
Cuban sugar should be brought in free or
duty, and he said this course would bring
refined sugar down to cents pound.
Speaking of the coffee business. Have
meyer said he was in the business. ana
in IL to stay.
Some OF the Laws of Trade.
The next three hours were devoted to an
swering questions asked him In rapid sue
cession by the members OF the committee.
He made an incidental statement which
the commission construed into an admts-
sion that the business was not profitable
now. The witness confessed that his COM
pany had very little regard for the welfare
or rivals IN business, SAYING ina. pIesus ,,;
In the long run in the struggle, and more
trusts were an example Of the survival OF
the fittest in business.
you realize II and quit trying to control II
by Federal legislation the better for all.
man cannot expect to have himself con-
tinually wet-nureed by the government. III
men do not want to buy our stocks they
need not. They don't need government pro-
lection. II they wade In and get stuck.
let them get out. and If they wish wade In
again The fate OF rival concerns is their
affair, not ours"
He declared that the tariff enabled the
steel rail- trust TO mulct the public to the
nf mar "a incidentally
that Mr.. Carnegie had not yet stated whas
he was going to do with his money.
COmment ON Labor Unions.
On the question OF labor. Mr.. Havemeyer
said the laboring element WIS forced TO
form organizations. but that in doing so
they sacrificed much independence, and
the unions had the effect OF bringing 9TH
er men down to a low level" He contend
ed that he was friend OF labor, and said
that good men in the employ of the trust
were paid 10 cent. more than they got
elsewhere.
Mr. Havemeyer said many things were
done in business which looked cold-blocd-
ed and harsh. but that business conditions
often required conduct justifying such
characterization. The farmers. he thought,
ought to establish trust for their pro-
lection.
He declared that his company had not
gone into a combination with any Of the
independent refineries. Reports that sucn
q consolidation had been effected we're un-
true.
Replying to a question IA to how ne
gould conduct business at 2 loss and stu
ciared. laughingly: "One Is an executive
act and the other a matter OF business
The witness expressed the opinion that
IL would be a good plan to expose the
business books to government inspector
he closed with 4 protest against what he
called the tariff Determinations against
" 20 the feeling against combinations IN
business.