New-York tribune., 1900-05-13
SUIT AGAINST SUGAR TRUST.
STOCKHOLDER DEMANDS INFORMATION
ABOUT SURPLUS AND COFFEE AND
SPICE OPERATIONS

The American Sugar Refining Company is called
upon in bill of complaint fled in the Office Of the
Chancery Clerk at Trenton n. j.. yesterday 10
answer questions about how It has disposed OF
millions of dollars OF surplus. and what IT mas
done to get control of the coffee and spice busi-
of this country. well as of the sugar trade
Robert j. Trimble. the complainant. owns one
hundred shares of the common stock OF the COM
pany. He says the company incorporated IN
January. 1891. and that II has capital Of $4,000
600. which divided into 375 OOo shares OF pre-
ferred per cent stock and the same number of
shares Of common stock. He further SAYS that the
objects OF the corporation given IN the fran
chise are "the buying. refining and sale OF sugar,
and that the sugar business has been profitable
for years that the company paid a dividend of IL
per cent on the common stock. He also asserts
that the company rehneres In different
States. and controls the capital of sugar COM
panies owning other rehueries. and that among
these companies are the Spreckes and Franklin.
the Louisiana Company. and the McGahan. OF
Pennsylvania.
1t is alleged in the bill that because the COM
pany has never made a fun report to its stock
holders Of the companies it controls and the stocks
II holds the complainant cannot all of the
companies and the financial condition of each and
he wants this information for himself and other
stockholders He also to know what the
company has done with the millions of surplus II
had on January l. 1900 and still has he says after
paying all that was due on preferred stock and
setting aside a reasonable working capital. He
contends that the remaining surplus of millions
should belong to the common stockholders and
be divided among them. He says it not di-
vded and that the surplus and it's disposal have
been concealed from the stockholders
1t is further rected in the bill that the directors
Of the company. the complainant believes, formed
the plan of bringing the company into combi-
nation to reduce competition and monopoze the
sugar refining business of the United States and
to force Arbucke Brothers, engaged extensively
in the coffee and spice business, into the cornbi
nation. and that the directors propose TO reduce the
price of refined sugar it be sold at a
profit and may be sold a loss the object being
to destroy competition. The complainant asks
that the Chancery Court require the American
Sugar Refining Company. which he says has be-
come trust in restraint of trade 20 make full
true and direct and specific answers to all things
set forth in the bill complaint especially these
interroga tories:
What amount of the capital stock of the de-
fendant company is invested in refneries and real
What AMOUNT IN 3 Of the capital Of the company is
Wnat are the names and locations of the COM
and d the amount Of capital stock Of each
stock and what is the amount of stock owned in
company At the close each Years business from
What we're the balance sSnets ns e,c, ., -,
companies owned or controlled by ownership of
sITcK 5n4 InGuang a companies In which the defend
balance sheets from the close of the fiscal Years Of
be the balances the said dfferent companies m y a
company? - "
The defendant has one month to answer the
bill of complaint, and If the answer Is made and
shall not be deemed sufficient the complainant will
from carrying business beyond the buyingp rs
nning [ ana sale OF sugar in accordance with the
Charles Brenner, of No. 135 Broadway. is counsel
Hpar IGp Mr. NJ WIrimbie the complainant, and ex-Judge
New-Jersey solicitor 80 ZIG