The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-05-02
SUGAR TRUST
AND THE PRICES
President Havemeyer Testifies
Concerning Quotations.
CUBA HAS MANY Markets
SAYS ENGLAND COULD TAKE
ALL ISLAND PRODUCES.

VT1ASHINGTON, May 1.-The in
w quiry into the present holding of
Cuban sugar and Cuban lands,
ordered by the senate, was begun to-
day by the sub committee on Cuban
relations. President Henry 0. Have
meyer Of the American Sugar Refining
company was the first witness, and all
Of the members of the subcommittee.
Messrs Plat Of Connecticut. Burnham
| and Teller, were in attendance. Sena-
tor Patterson also was present. Others
present with Mr.. Havemeyer were Ar
thur Donovan, treasurer of the COM
pany, and Henry c. Mott, its sugar
! buyer. All OF them were sworn.
Replying TO questions by Senator
Plat. Mr.. Havemeyer said his COM
pany was generally known as the sugar
trust, and that its rehneries are 10
Gated as follows:
In New Jersey, one; New York,
three; Massachusetts, two; Philadel-
phia, two; New Orleans, one.
VIII 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 90, 600 tons, or 256.000
bags, or about ten days supply" re-
piled the witness.
OF that quantity 5000 tons are now in
process of shipment from Cuba. The
prices paid, he said. ranged from Sl.T5
TO S1.95. the highest price being paid on
March 10, and the lowest on April p.
Where do you buy your raw sugar ?"
All over the WOrld-in Cuba, Java,
Hamburg, Trieste, the British West
Indies South America, wherever sugar
is grown"
Does the $4,000 tons you mention
represent your entire purchases in
Cuba since the list of January"
mo. We have bought all told $4,000
tons of Cuban sugar during the pres
ent year, or about threefourths Of a
months supply, our consumption being
about "a 900 tons per week.
DO you control any sugar in Cuba
other than that purchased? p"
None whatever, in any manner"
Have you taken any options on Gu
ban sugars?"
Il have not"
He added that the percentage OF his
company's product. compared to the
entire sugar consumption Of the United
States. was about 80 per cent. Last
year his company produced 100000
tons of the refined sugar, while the
consumption was 100000 tons.
Does Not Fix the Prices.
Returning to the purchases Of Cuban
sugar for the present year, Mr.. Have
meyer gave figures OF purchases for
other years to show the relative volume
Of the current acquisitions, saying that
in 1892, 254.0OO tons had been bought; in
1898, 246,O00 tons; in 1894. 321, 600 tons.
In reply TO other questions, he said that
the price of retail sugar in the United
States is fixed by the beet market
prices in Hamburg. The price there
fixes the selling price for the entire
world, said he. On the subject of the
price of Cuban sugars he said that his
company could not determine the
prices.
We have" he said. mo control over
them whatever; they don't belong
to us.
Cuba has to sell her sugar in this
market, hasn't she?"
no: that is not true. She can sell
in England. for instance, if she is de
sirous to 90 so. England could take
the entire Cuban crop"
MT. Platt then asked: suppose the
United states should make a concession
of, say % per cent, in the tariff rates on
Cuban sugar, could not you refuse TO
buy the cuban product except at your
own rates and thus secure the benefit
of the concession
In no way" was the reply. Cuba
would be under no obligations to sell
TO US. because, as I have said, the
Cuban producers could find other mar
kets.
"An the duty has been taken off of
Porto Rico sugar. Do you get that
sugar any cheaper on that account"
mot at all"
How about the Hawaiian product"
I'VE are under contract for the entire
$4,000 tons produced in Hawaii. There
is no tariff on that product, but the
price is not affected by that circums
stance"
TT has been stated repeatedly that
in case the suggested concession is
made. the sugar trust will be IN posi-
ton to oblige producers to make such
reductions that you viii secure the
entire benefit Of the legislation. Is that
true?"
No Lands in Cuba.
we could not Oblige any reduction
IN case Of a concession to Cuban sugar
the price might be lowered, say one
sixteenth Of a cent a pound, but that
would be nothing as compared 10 the
reduction in the tariff rate. which