The times. [volume] (Richmond, Va.) 1890-1903, 1902-05-02
the price is not affected by that cir

'he Price is not aucCted by tnaL clT-
cumstances.
COULD cRLIGE NO REDUCTION.
1T has been stated repeatedly that
in case the suggested concession is made
the Sugar Trust will be in a position to
ohlige producers to make such reduc-
tons that you will secure the entire bene-
ft Of the legislation-is that true?'
We could not 'oblige any reduction.
In case of a concession to Cuban sugar
the prices might be lowered. say one
sixteenth Of a cent a. pound, but that
would be nothing as compared to the
reduction in the tariff rate which would
amount to about one-third of cent a
pound. Even SO great reduction as l
have mentioned would depend on the
necessity of marketing, and If there
should be any pressure on that account
the necessity would be that of the pro-
ducers and would not be ours
In reply to another series of questions
Mr.. Eaveneyer said that his company.
as such. holds no sugar lands in CUBA,
but he added that he had himself made
some purchasers there. but that he dld
not consider it legitimate to compel him
to reply to questions pertaining to these
interests.
If" he said ".the committee compels
me to give the information 1 can. Of
course. do SO. but I do not see what
my private interests have to do with
this inquiry
Proceeding. Mr. Havemeyer enuner-
ated his Cnban interests All these in
terests had beer acquired, ne said. be-
fore there had been any agitation for
reduction of the tariff rates.
Senator Teller then took the witness,
first bringing out the fact that the cap
ital stock of the trust had been increa sei
ir recen- wears from S.5.c200eG to S9h3nc.-
CaN, the purpose Of which, the witness
said, was to promote the general corpo-
rate interests of the company and not
to purchase Caban sugar lands.
ONE OF THEM
In reply to a question concerning the
s,ipposititious condition of poverty Of the
Cuban painters aud of sugar producers
generally, Mr.. Havcmeyer said he knew
something OF them, for" he said Il
happen to be in that category myself
He said he had not advanced any
money to the sugar planters. but he sup
posed that some advances had been
made to them by the local banks. and
that no doubt advances also had been
made by American sugar brokers. While
On this point he said that he made his
purchase ses through Cuban brokers. but so
far as he knew none of them was sugar
owner.
He added that he would not deal with
brokers who had sugar of their own to
sell
Speaking of other sugar interests in
the United States. Mr.. Havemeyer said
he had no understanding with the other
reiIneries except the Spreklcs plant IN
California. which he held in joint owner
ship with Mr.. Sprekles. All other re-
iincries were absolutely independent of
the trust The Sprel1les refinery capac-
itv he placed at 5cl pounds a day.
Mr.. Haveneyer said he regarded the
beet sue-r producers as competitors:
that he fixed the price Of refined sugar
iii the Missouri valley very low last sum
rler to drive out the beet sugar men.
ana restored the prices when their trade
was again secured. He claimed that the
beet sugar men have taken his customers
by u><air means. He said of course It
would he impossible for any competitor
TO get higher price for sugar than
concern whicl, produces sixty-flve per
rert of the refined sugar Of the country.
He said the United States was market
for Cuban SUGAR rather than Eneiand
because of the differences In freight
rates and of the beet sugar Of Germany
being nearer.