The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-05-02

made BY American sugar brokers.
While on this point he said he made
his purchases through Cuban brokers.
but that so far as he knew, none Of
them was d sugar owner. He added
that he would not deal with brokers
who had sugar Of their own to sell.
None For Sale Now.
Asked by Mr.. Teller whether he was
SIN buying sugar in cuba, Havemeyer
said:
We are stin trying to buy. but we
have not succeeded in making any pur-
cnases since April 20, when the sugar
was withdrawn from the market on ac-
count Of improved changes Of securing
the American concession.
How do YOU account for the fuc-
tuations in the price OF Cuban sugar
which yoI have mentioned as having
occurred within the few months p?
They are due 10 the changes in the
beet sugar market in Hamburg There
has been a constantly decreasing mar
ket there on account of the increased
beet product. which has amounted 10
about 100000 tons in the past year"
Then you regard the beet sugar
producers as a competitors of yours?"
i certainly do; there is what you
might call a commercial rivalry
Last summer you fixed The price OF
refined sugar at points in the Missouri
valley very low. did YOU nOt?"
Yes. we did: we put it at 312 cents
per pound. whereas the price before
had been Az cents, and the price in
Atlantic coast points was still main
tanned at the higher figure"
How long did vnu keen the rViec
DOWN."
Until we recovered our trade. The
beet sugar makers undertook TO con-
troll the markets by contracts with
dealers. which L considered in restraint
of trade. Consequently we reduced the
price until our trade was restored to
US, keeping it down to the lowest point
for about two weeks.
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, he added
In response to further questions, Mr..
Havemeyer said there had been a nuc-
tuation of prices at Missouri river
points for about six months,
but that when the trade was entirely
restored to the trust prices, which is
the New York price, with freight rates
added.
Under these conditions" asked Mr..
Teller, where are the beet sugar men
to sell their produet?'
Fight For the Trade.
Il don't know. That is their BUSH
ness and they won't tell me, because
they know il they did 1 would get at
them again. do not propose that they
shall control the trade and it is all
that I can do to take care Of the
American cOmpany's interests"
Mr.. Havemeyer declared. however,
that he had had no intention Of driv-
ing the beet sugar industry out Of the
country, but said that he had put down
the price to less than cost in order to
secure his share of trade.
For that purpose" he said, Il 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
entire crop the brands of the trust
would be comparatively unknown and
would be at a great disadvantage.
They took my customers he said,
by unfair terms. agreeing 10 beat any
price that / would make and that is
what I objected to-
Asked as TO the control the sugar
trust exercised over the price Of raw
sugars. witness said:
1t goes without saying that a com
pany which produces S. per cent OF
the refined sugar renders it impossible
for any competitor to secure a higher
price for its product than it gets"
The examination, drifting TO the as
sertiOn Of Mr. Havemeyer that Cuban
sugar could find a market in England,
Mr.. Teller asked:
II England is a good market for
Cuban sugar. why has not the Cuban
product sought that market in the
past?"
Because" was the reply, "the beet
sugar product can be secured from
Germany at much lower freight rates.
rs it not a fact that the United
States affords the only market that
Cuba has ever. had?"
NO. the United States is not the
only market for Cuban sugar, but ow-
ing to its geographical position, this
country is the particular market for
il. but years ago Cuba made large eX-
portations 10 England. Now the freight
rate is in favor of the United States
and against England" At this point
Mr.. Hayemeyer, was excused until
Monday