Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-05-02
President sHavemeyer of the Sugar
Trust Tells of Attitude Toward
Cuban Sugar. . \ =.
Trust Has Purchased Sugar in ths
Island But Does Not Control
'-s-' .. ,.
Output as Claimed.
Declares the Price of the Commodity
is Fixed in the Market at
S1 Hamburg.

to the present holding of Cuban sugar
and Cuban sugar lands. ordered by the
senate, was begun during the day by
the subcommittee of the committee
on Cuban relations. President Henry
o. Havemeyer of the American Sugar
Refining company was the first witness.
Others present with Mr.. Havemeyer
were Arthur Donner, treasurer of the
company, and Henry G. Mott, it's raw
sugar buyer. Mr.. Havemeyer said his
company was generally known as the
sugar trust and that it's refineries are
located as follows: In New Jersey 1,
New York 8, Massachusetts, 2, Phila-
delphia 2 and in New Orleans.
"Will you," Senator Platt asked,
"tell the committee how much Cuban
sugar, if any, has been purchased and
is now held by your company"
Since early in February last we
have purchased $4,000 tons, or 256,O00
bags, or about 10 days supply" replied
the witness. "Of that quantity $4,000
tons is now in process of shipment
from Cuba"
The prices paid had, he said, ranged
from Its to 1.93, the highest price be-:
ing paid on March 13 and the lowest
on April %.
Where do you buy your raw su-
gar?"
'.All over the world-in Cuba, Java,
Hamburg, Trieste, the British West In
dies, South America-wherever sugar
is grown" 'a.
Does the $4,000 tons you mention
rr1o r,
Cuba since the 1st of january"
mo; we have bought all told $4,000
tons of Cuban sugars during the pres
ent year, or about three-fourths of a
months supply, our consumption be-
ing about $4,000 tons per week."
"Do you control any sugar in Cuba
other than that purchased?'
"None whatever, in any manner"
"Have you taken any options on Gu,
ban sugars?"
II have not" .
"Have you made any advances on
any Cuban sugar?"
"None whatever"
Has No Further Interest.
$50 that you wish to be understood
as saying that the amount you have
mentioned as having purchased rep
resents your entire interest, direct and
indirect, in Cuban sugar?" -
"That is the statement made"
Continuing Mr.. .Havemeyer said the
entire Cuban sugar crop is about $50,
900 tons but that much of it has been
withheld from the market in view o1
possible tariff concessions to be made
by congress. On this account his pur
chases had been only about one-thirC
of the average of other years. On this
account, too, the purchase had beer
made principally at outports, where
| the storage facilities were poor, rather
| than at Havana. The purchases from
the Outports had caused most of the
shipments to be made from those
ports rather than from Havana, where
the company has about 45, 900 tons nov
/ stored. The purchases at the out
ports had caused the sales there to bt
made on. "a parity with the beet suga
prices.
Speaking of the capacity Of his com
pany he said that it refined 65 per cen
4 of the American refined product. a
In reply to other questions he sait
/ that the price of raw sugar in the Unit
ed States is fixed by the beet marke
4 prices in Hamburg. The price ther
fixes the selling price for the entir,
world, said Mr.. Havemeyer. On tn
subject of the price of Cuban sugar
he said that his company could no
determine their price.
Mr.. Platt then asked: Suppose tn
United States should make a conces
sion of say 20 or 25 per cent in tn
4 tariff rates on Cuban sugar, couldn'
you refuse to buy the Cuban produc
i except at your own rates and thus Sc
:. cure the benefit OF the concession?"
Z: "In no way was the reply. Cub
would be under no obligations to SCI
to us, because, as have said, the CT
ban producers could find other MAJ
kets." 4 '.ss'
In reply to another series Of que.
4 tions Mr.. Havemeyer said that hi
company, as such, holds no suga
\ lands in Cuba, but he added that h
q had himself made some .purchase
, there, but that he did not consider
. legitimate to compel him to reply t
) questions pertaining to these inte
| 4 ests.
MORE THAN ONE-THlRD.