The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1902-05-07
SALE on CUBAN SUGAR
To American Sugar Refining Company
Explained by Havemeyer.
LESS THAN ONE MONTHS SUPPLY.
Head OF the Great Trust Testifies
Before Senate Committee On
Cuban Relations About Pur-
chasing Raw Product.

sugar and CUBAN sugar lands. ordered
by the senate. was begun by the sub
committee on Cuban relations. Presi-
dent Henry o. Havemeyer of the
American Sugar Refining company
was the first witness, and all the mem
bers OF the subcommittee, Messrs.
Plat (Conn.), Burnham and Teller
were in attendance Senator Patter-
son also was present. Others present
with Mr. Havemeyer were Arthur DON
ner. treasurer of the company, and
Henry c.. Mott. its raw sugar buyer.
All of them were sworn. Replying to
questions by Senator Plat, Mr.. Have
meyer said his company was generally
known as the sugar trust. and that its
refineries are located as follows: In
New Jersey one. New York three.
Massachusetts two, Philadelphia two.
and in New Orleans one.
"wiil YOU" Senator Plat 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 $4,000
bags. or about 10 days supply" re-
piled the witness. "Of that quantity
10000 tons is now in process of ship
ment from Cuba"
The prices paid had. he said. ranged
from s175 to $l.SS. the highest price
being paid on March - and the low
est on April %.
where do you buy your raw
sugar?"
"AIl over the world. In Cuba, Java,
Hamburg. Trieste. the British West
Indies. South America. wherever SUI
gar is grown
Does the $4,000 tons you mentioned
represent your entire purchases in Gu.
ba since Jan. II"
mo; we have bought all told $4,000
tons of Cuban sugars during the pres
emit year, or about three-fourths of q
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 advance OF
any Cuban sugar?"
None whatever"
$50 that you wish to be understood
as saying that the amount you have
mentioned as having purchased repre-
sents your entire interest. direct anC
indirect, in Cuban sugars?"
That is the statement ! make
Continuing. Mr.. Havemeyer said th'
T,,han &c 7E0
900 tons, but that much of it has beeI
withheld from the market in view o
possible tariff concessions to be mad
by congress. On this account his pur
| chases had been only about one-thirC
of the average of other years. Th'
purchases at the outports had caused
the sales there to be made on a part!
with the beet sugar prices,
Speaking of the capacity OF his com
pany. he said that it refined 60 pc
cent of the American refined product
In reply to other questions. he salt
that the price OF raw sugar in tn,
United States is fixed by the best mar
ket prices in Hamburg. The prize
there fixes the selling price for thu
entire world, said Mr.. Havemeyer. Or
the Subject Vi the price VI SuOdH 81
gars. he said that his company coult
not determine their price.
I'VE have" he said. mo control owe
them whatever; they don't belong
to u.s."
Cuba has to sell her sugar in thi
market. hasn't she?"
mo; that is not true. She can sci
in England. for instance. If she is de
sirous to do so: England could TAX
the entire Cuban crop"
Mr.. Plat then asked: Suppose tn
United States should make a conces
sion OF say 20 to 25 per cent in tn
tariff rates on Cuban sugar, couldn'
you refuse to buy the Cuban product
except at your own rates. and thus sc
cure the benefit of the concession?
"In no way" was the reply. Cub
would be under no obligations to sci
to us. because. as / have said. tn
Cuban producers could find other mar
kets"
"Au the duty has been taken on o
Porto Rican sugar; do you get tina
sugar any cheaper on that account?
Not at all"
Bengal City Devastated.