The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1902-05-02
HEAD OF THE TRUST BEFORE
-ue SENATE COMMITTEE ON
CUBAN RELATIONS.
u.s NO HOLDINGS IN CUBA
uas Purchased tlinety.three
-.oueand Tons In the island This
Year, but Does Not Control Another
oound In Any Manner Whatever
,ooI,rcs the Price Of the Commodity
:, Eired in the Hamburg Market

;. ri,ea in the Hamburg Market.
washington, May 2.-Thc inquiry In
= 80 nresent holding OF Cuban sugar
a.1 cuhan sugar lands. ordered by the
s"na,e was begun during the day b,
~ subcommittee Of the committee
- cuban relations. President Henry
n uayemeycr OF the American Sugar
psdnjnc company was the first witness
n,hers present with Mr.. HavemcyeI
uere Arthur Donncr. treasurer Of the
eompanv. and Henry c. Mott. It's raw
snear buyer. Mr.. Havcmeyer said his
,omnany was generally known as th,
snrar trust and that its rciiperics ar,
leea,ra as follows: In New Jersey l
Nv York 3. Massachusetts .. Phila
delpha and in New Orleans.
"Nlll you." Senator Plat asked
I'll the committee how much Cuban
slIsar If any. has been purchased and
is now held by your company
Since early in February last W
has, purchased $4,000 tons. or 256 .uof
hags. Or about 10 days supply" replied
Il. witness. "Of that quantity aS.o"t
tons is now In process Of shipment
from Cuba.
Th. prices paid had hc said ranged
from - 10 1913. the highest price bc
ine pald on March Is and the lowest
Oh April 80.
Ehere do you buy your raw su
gar
All over the world-in Cuba. Java
r.fn tl,tt Lob,
lii,. South America wherever sugar
is Grown"
nn.s the 10000 tons you mention
reft, III Your entire purchases III
Cuba since the lst Of January
NJ. We have bought all told - .oo,
tons of Cuban sugars during tn. pres
en, year. or about three fourihs Of n
months supply. our consumption be
ins about 5000 tons per week"
10 yon control any sugar in Cuba
o'her than that purchased?
Nom" whatever. In any manner"
llay" you taken any options on Gu
ban sucars9"
i have not"
Have yon made any advances on
ant cuban sugar."
Non" whatever"
Has No Further Interest.
50 that you wish 10 bc understood
rs saving that the amount you have
mentioned as having purchased rep
fsfn's Your entire interest. direct and
Indirect in Cuban sugar."
Aat IS the statement I made"
continuing Mr.. Havcmcycr said tho
ehtiTo Cuban sugar crop is about 1,0.
"h tons but that much Of IL has hocn
"'theld from the market in view O!
possible tariff conc cssions TO he made
y congress. On this account his pur
'has"s had been only about onc-ihird
u lh' average Of other years. On this
account too. the purchase had been
naa' Principally at outporis whore
w storar" facilities were poor rather
ui'h Al Havana. The pure hascs from
'n oA'ports had caused most of the
ai4l'honts TO he made from those
,,t's rather than from Havana. where
~ company has about IS .ono tons now
s"ted The purchases NJ the ont
po',S had caused the sales there 10 b
n"'a' on parity with the beet sugar
Prices.
shraking Of the capacity OF his com
pahy n" said that II refined SIS per cent
u 'h' American refined product
;, ~ reply to other questions he said
a't oie price Of raw sugar in the Unit
-. N'a'es Is fixed by the beet market
IN Hamburg. The price there
49, w. the selling price for the entire
s mu'id' said Mr.. Havcmcyer. On the
hhaol'ct OF the price Of Cuban sugars
d. saia that his company could not
',,rmlnc their price.
nr' Platt then asked: Suppose the
u'll'ed States should make n conces
,a''. 'n oi say 20 or 25 per cent In the
va ." rates on Cuban sugar. couldn't
oy ey" feluse to buy the Cuban product
en m'pt at your own rates and thus Sc.
a., a., me benefit OF the concession"
wo,, - no way" was the reply. Cuba
10 'nld be under no obligations to sell
h,n vs. because. as I have said. the Gu.
Eo,a on Producers could find other mar
,;na IN reply to another series of qucs.
con,' as Mr. Havemeyer said that his
lanarp" ms such. holds no sugar
han h's IN Cuba. but he added that he
thn. a himself made some purchases
lo.;,; put that he did not consider II
animate o,h".inate to compel him to reply to
este cS''ons pertaining to these inter,