The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-05-02
NO OPTIONS ON THE CROP
Reduction in Tariff Would Not Mater
tally Affect Him.
TRUST HOLDS NO CUBAN SUGAR LANDS
TIE Price Of Raw Sugar in The United States,
He Says, is Fixed by the Beet Mar
ket Prices in Ham
burg.
(By the Associated Press.)

washington, May line inquiry lHto
the present holding of Cuban sugar and
Cuban Sugar lands, ordered by the Sem
ate, was begun today by the SUBJ COM
mittee on Cuban Relations. President
Henry o. Havemeyer, of the American
Sugar Refining Company, was the first
witness and all of the members of the
sub committee. Messrs. Platt Comm !;
Burnheim and Teller were in attendance.
Senator Patterson also was present.
others present with MIR. Havemeyer were
Arthur Donner, treasurer of the COM
pany. and Henry c. Mott, its raw sugar
buyer. All of them were sworn.
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 ten days supply" replied the wit
ness ''Of that quantity $4,000 tons is
now in process of shipment from Cuba
The prices paid had he said, ranged
from LIS to 1.93, the highest price being
paid on March 13 and the lowest on April
22Dd.
Where do you buy your raw sugar?'
''All over the world; wherever sugar is
grown
Does the so, 600 tons you mention rep
resent your entire purchases in Cuba
since the first of January
mo; we have bought, all told 90 900
tons of Cuban sugars during the pres
ent year, or about three -fourths of a
months supply, our consumption being
$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?"
Il have not
Have you made any advance on any
Cuban sugar?'
None, whatever"
so that you wish to be understood
as saying that the amount you have
mentioned as having purchased repre-
sents your entire interest, direct and in
direct in Cuban sugar."
That is the statement l make"
Mr.. Havemeyer said the entire Cuban
sugar crop is about $4,000 tons, but that
much of it has been withheld from the
slons to be made by Congress- On this
account his purchases had been only
about one-third of the average of other
years.
Speaking of the capacity of his company
ne sdlu thaI IL refned 90 per cent of the
American refined product.
He added that the percentape of this
conpanys product compared to the en-
states was about so per cent. Last vear
his company produced !, 200 900 tons of tho
refined sugar, while the consumption was
100000 tons.
In reply to other questions, he said
that the price of raw sugar in the ITnited
States is fixed by the beet market nrices
in Hamburg. The price there fixes the
selling price for the entire world. said
Mr.. Havemeyer. On the subject of tho
Price of Cuban sugars he said that his
company could not determine their price.
I'VE have he said, mo control over
them whatever; they don't belong to u.s.
Cuba has to sell her sugar in this
market, hasn't she?'
No. that is not true. She can sell it
in England. for instance, if she is desir-
Gus to do so. England could take the
entire Cuban crop"
Mr.. Platt then asked: Suppose the
United States should make a concession
of say 20 or % per cent in the tariff
rates on Cuban sugar, could not you re-
fuse to buy the Cuban product except
at your own rates and thus secure the
benefits of the CONCESSIONS
I'm no way" was the reply Cuba
would be under no bligations to sell to
us, because, as l have said the Cuban
products could find other markets"
"All the duty has been taken off of
Porto Rican sugar; do you get that su-
gar any cheaper on that account?''
''oNt at ALL
How about the Hawaiian product"
I'VE are under contract for the en-
tire 350000 tons produced in Hawaii.
There is no tariff on that product but
the price is not affected by that cir
cumst7nce."
1T has been stated repeatedly that
In case the suggested concession is made
the sugar trust will be in a position to
cbiige producers to make reductions that
you will secure the entire benefit of the
leg;slation-is that true?''
I'VE could not 'oblige' any reduction.
In case of concession to Cuban sugar
the price might be lowered, say one-six-
teenth OF cent pound but that would