Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1902-06-29

TONED aUtnOrlly tHat MT. Oulltl was w
New York consulting with Mr.. Have
meyer, and while our meeting was n
session telegram was received from
Mr.. Cutler. telling what the ultimatum
par. You are probably not aware tina
Havemeyer controls the Eaton fac
tory which is eight miles north Of the
Greeley factory. and he had bought
100 acres for factory sight alongside
ours. and intended building factory
there.
"The Eaton factory is paying s. n
ton for beets, and the trust could. and
probably would. If things had not
come its way, raise the price of beets
from farmers to price at which our
factory could not compete. Even II
the trust had let us alone there would
have been much uncertainty about the
future.
Mr.. Havemcyer, the recognized
head of the trust, has become interest
! Cd in the beet sugar industry. Presi
dent Morey informed me that he had
recently had a talk with Mr. Havemey
err and that Havemeyer informed him
that formerly he paid but little atten'
ton to the beet factories. but he was
| forced to the conclusion that the in.
dustry was making such rapid strides
that the cane sugar interests must
give the new and fast growing rival Sc.
rlous attention.
"As told to me by President Morey,
Mr.. Havemeyers purpose in becoming
interested In the beet factories was %
regulate the price Of both kinds of SIT
gar. to TX the price of beets raised by
the farmers, and to prevent the cane
and beet interests from cutting each
others threats"
Speaking of the agreement to in
crease the capital stock OF the Greeley
Sugar Co. from 100000 to $500. 1000
Mr.. Evans said that by agreement oi
the shareholders the Sugar combine
will be permitted to take the increased
capital at par, and the stockholders
will yield two.fifths Of the original
shares, thus making the Havemeyel
interests the owners of half oil the
capital.
This Is not watered stock" Contin
ned Mr.. Evans. when the Greeley
enterprise was started year ago II
was intended to build a 700-ton faCtn
ry, which would cost 100000, requlr
Ing the borrowing of 100000 to meet
the cost in excess OF the capital. Al
OF the shareholders are able to take
the additional stock issue, even If the
trust had not agreed to take it, thus
leaving the property free from debt.
THE factory will be completed II
August, and from the 10000 tons u
beets to be harvested there ought {,
be produced this season 10000, 0OI
pounds Of sugar. The beets planted
by the Greeley farmers are looking Il
splendid condition, and the factory rul
will be an undoubtcd success"
e,.L., Chicago June Q. - II
surance men all over tn
'"su'a"'e United States are shown
Combine. much interest in the lega
fight Attorney General Hamlin of Ill
nOis has just begun against what h
declared to be an Insurance Combin
In this State. The first shot of tn
fight has been fred at Bellevillc, bu
the theater Of war will be transferre
to Cook county, MS soon as plans prog
ress to the proper point.
Attorney General Hamln promise
some interesting disclosures in con
nection with tho case, and while tn
suits will not be prosecuted under tn
Antitrust law. passed by the Genera
: Assembly several years ago, the AttoI
, ney General believes that he can nc
complish the desired ends under tn
I common law. Owing to the Characte
and location of the insurance compa
MES involved 1t is not improbable tina
| the Federal authorities will be Gale,
! upon for assistance. Attorney GcnoI
al Hamln has gone to Washington
0 Just before leaving Chicago he said:
0 evidence was furnished me by cit
I zens of three counties-St. Clair, Mad
S ison and Clinton, in which the frs
I suits have been started-that an illC
0 gal combination exists there, | hav
n investigated and find that simila
I conditions prevail In Chicago, and
will take steps in the near future l.
!, enjoin such proceedings in Cook cour
J ty. After that suits of similar ne
J. ture will be begun in other section