The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1901-01-09
SUGAR men MEET
President Havemeyer Out
lines the Policy Of Am
erican Refining
Company.
POSITIONSOUNDANOSTRONG
Directors Action in January
1901 Approved by the
Stockh olders.

The annual meeting of the stockholders
OF the American Sugar Refining Company
took place today at the offices in this city.
President Theodore Havemeyer presided
and made the following statement
The directors ask that the stockholders
viii approve the action which has been
taken by the directors up to this time.
1t has been the wish of the directors
from the beginning that at the annual
meetings there should be full repres-
entatien of stock; that if there was dis
satisfaction on the part of any of the
stockholders it should be shown by vote,
and that if there were no such dissatis-
faction the stockholders would pass an
appropriate resolution approving the ac-
tion of the directors in the management
of the company's business, and the con-
duct of it's officers and their action gen.
orally.
At and prior to the annual meeting OF
1900 stockholders had an opportunity OF
acting upon the business policy which had
been adopted by the directors. That pol
icy had been carefully considered, was
deliberately resolved upon, and the direc-
tors were gratified that it met with the
approval of the stockholders
In general way t.may be stated that
the policy has been 20 keep the company
strong to meet any and every emergency
which might arise. The directors thought
that this was wise at the time. Suisse
quent events have confirmed their judg-
ment.
During the year 1t seemed opportune in
selling to make an increase in the margin
hat f1xyna tt,; Il
In this action, and in all the action which
has betn taken by the Directors, they
have preceded upon the belief that it
was in the interest of the company, and of
the business, to be satisfied with mod
trate profit, keeping the plant in the best
possible condition, and Strengthening the
company by the acquisition of appliances
which are essential to he economical con-
duct of the business.
1.-THE condition of the company is sound
and strong.
Unless objection shall be taken at this
meeting, and more particularly if the ac-
tion of the Directors be approved, they
will continue to pursue the policy upon
the principles which have actuated them
heretofore
Phe stockholders voted on the follow
ing resolution
Resolved, That the action of the Di-
rectors at a meeting held January s, 1901,
which reads as follows.-
Resolved. That the accumulated prof
its less the dividends which have been
declared up to this time, including the
dividend of January 2, 1901, be reserved
as working capital less such amount as
the directors shall see fit from time to
time to declare as dividends
"Be and the same hereby is approved
and confirmed by the stockholders.
The customary resolution voting conf
dence in the directors and the manage
ment was passed. Chas. Senff and W. B.
Thomas were reelected directors. The
tellers reported that sol, ,4S4 shares had
voted.
President Havemeyer at the close of the
meeting in conversation with a News
representative, ridiculed the statements
made in ctrtain New York papers that
there was sugar war He smiled when
a report was shown to him that the COM
pany was in trouble.
Il want to say to ysu that the Ameri-
can Company is all right and we propose
to pay fair dividend on our output ir-
respective of outsiders. We fight no one.
Our trade is tolerably secure. AS long as
we can get what we want he said with
smile, they, the outsiders, can scramble
over the rest