Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1902-05-03
TALKS ON SUGAR
HEAD OF THE TRUST BEFORE
THE, SENATE COMMITTEE ON
CUBAN RELATIONS.
HAS NO HOLDINGS IN CUBA

Pound in Any Manner Whatever.
Declares the Price of the Commodity
Is Fixed in the Hamburg Market.
Washington, May 2.-The inquiry in
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 refneries are
located as follows: In New Jersey 1,
New York 3, Massachusetts 2, Phila-
delphia 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 256,000
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 It's to 1913, 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
''Does the $4,000 tons you mention
represent your entire purchases in
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?"
81 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 l made"
hA
entire Cuban sugar crop is about $780,
900 tons but that much of it has been
withheld from the market in view Of
possible tariff concessions to be made
by congress. On this account his pur-
chases had been only about one-third
of the average of other years. On this
account, too, the purchase had been
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 $4,000 tons now
stored. The purchases at the out
ports had caused the sales there to be
made on parity with the beet sugar
prices.
Speaking of the capacity of his COM
pany he said that it refined IS per cent
of the American refined product.
In reply to other questions he said
that the price of raw sugar in the Unit
ed States is fixed by the beet market
prices in Hamburg. The price there
hxes the selling price for the entire
world, said Mr.. Havemeyer. On the !
subject of the price of Cuban sugars
he said that his company could not
determine their price.
Mr.. Platt then asked: Suppose the |
United States should make a conces- |
sion of say 20 or Is per cent in the
tariff rates on Cuban sugar, couldn't |
you refuse to buy the Cuban product |
except at your own rates and thus Sc
cure the benefit of the concession?"
I'm no way" was the reply. Cuba |
would be under no obligations to sell |
to us, because, as have said, the Gu |
ban producers could find other mar |
kets."
In reply to another series of ques-
tions Mr.. Havemeyer said that his
company, as such, holds no sugar
lands in Cuba, but he added that he |
had himself made some purchases
there, but that he did not consider it
legitimate to compel him to reply to
questions pertaining to these inter
ests.