Evening journal., 1902-05-02
HAS NO CONTROL
OVER PRICES
80 Declares HaVemeyor Re-
garding Sugar Trust
TO THE SENATE COMMITTEE
Trust MagOate Asserts That The
Corporation Does Not Control
the Output Of Sugar

Washington. May William Have
meyer, president of the Sugar Trust,
appeared before the senate commit
tee on Cuban relations yesterday,
when the inquiry was begun into the
question as to the amount Of Cuban
sugar owned and controlled by the
trust, and the amount of sugar-pToduc-
ing lands owned by Americans.
Mr.. Havemeyer said that since Feb
ruary the trust had purchased $4,000
tons of Cuban sugar, the price varyinE
between s1.75 and s1.9S a bag. He
emphatically denied that the trust was
trying to control the output. however
in the hope that If concessions were
made to Cuba they would benefit nc
cordingly. He said their sugar-pro
ducing lands in Cuba were confined to
a plantation at Panama which was
bought long before the Spanish war
was laid waste by the Cubans. and is
now covered with weeds. They also
had an interest in a plantation at
Chappawa. and also one at Santa Cruz,
acquired before there was any sug-
gestion Of any concession being made
to Cuba.
Mr.. Havemeyer asserted that he had
not made any advance on any Cuban
sugar.
In reply to questions, he said that
the price Of raw sugar in the United
States is fixed by the beet market
prices at Hamburg The price there
fixes 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.
eve 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?"
mo. That is not true. She can sell
in England, for instance, if she is de-
sirous to do so. England could take
the entire Cuban CROP
How about the Hawaiian product?"
"We are under contract for the en-
tire $4,000 tons produced in Hawaii /
There is no tariff on that product, but
the price is not affected by that cir
cumstance."
ut has been stated repeatedly that
in case the suggested concession is !
made the sugar trust will be in po-
sition to oblige producers to make |
such reductions that you will secure
the entire benefit of the legislation
is that true?"
1--WE could not 'oblige' any reduc-
tion. In case Of a concession to Cuban |
sugar the price might be lowered say
1-16 Of a cent pound, but that would
be nothing as compared to the reduc-
tion in the tariff rate which would |
amount to about one-third of a cent
a pound. Even so great a reduction |
as l have mentioned would depend on |
the necessity for marketing, and If ]
there should be any pressure on that
account the necessity would not be
ours"
Continuing, Mr.. Havemeyer said the
entire Cuban sugar crop is about $780, |
600 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 has been only about one-third
of the average of other years.
Speaking of the capacity of his com
pany, he said that it refined 65 per
cent. of the American refined product
He denied having notified beet sugar
producers that he intended to keep up
the war until he should drive them
out of business. He had nothing to
do with them, but said that he had
put down the price of sugar to less
than cost in order to secure his share
of trade. "For that purpose" he said
81 will go as far as my directors will
allow me, as long as there is any
money in our treasury"
Further explaining his position. he
said that the beet sugar producers had /
entered into a contract with dealers,
giving them the exclusive market, and
to this he had objected. because after
the beet sugar men had sold their en-
tire crop the brands of the trust would
be comparatively unknown and would
be at a great disadvantage.