Omaha daily bee., 1902-05-08
DEALER URGES REDUCTION
Member Of New York and London Sugar
Firm Testifes Before Committee.
LESS DUTY WILL HELP CUBAN SELLER
Declares Failure to Lower the TarIn
Would he Disastrous and Might
Lead TO Panic I'm the
Market.

WASHINGTON, May MANUEL Rionda.
a member Of the sugar brokerage firm OF
Czarnikow, MacDougall & Co. Of New York
and London. was before the senate commit
tee on relations with Cuba today. He
said that his firm has business connections
In all parts Of Cuba.
He estimated the annual product Of the
independent sugar re1neries Of the United
States at 536,O0S tons and said that his
firm sells more Cuban sugars to the in
dependent rehneries than to the trust. He
presented a statement Of sales OF Cuban
sugar for the present year, showing that he
had sold less than 5000 tons to the trust
for that period. Germany, he said, as the
largest sugar producing country in the
world, fixed the price Of sugar. In Febru-
airy and March, however. there is a reduce
ton on Cuban sugars below the Hamburg
price, owing to the fact that at that sea-
son Of the year the supply lie greater than
the demand. The variation is seldom, the
witness said. more than one-eighth Of a
cent a pound.
Would Beneht Cuban Seller.
Senator Platt asked what would be the
effect of a reduction Of the duty on Cuban
sugar and the witness replied that the Gu
ban seller would receive the entire beneht.
The price on Cuban sugar never would,
however, go beyond the parity Of beet
sugars-that was the danger line-for the
purchaser would take the beet sugar in
preference. He did not believe that the
American Sugar Refining company would
get any Of the benefits OF a concession.
The Cuban producers could hold their sugar
and the refners would be compelled to
go to another market, with the result that
they would raise the price in that market
and thus get squeezed themselves instead
Of squeezing the Cuban producers.
What would be the effect upon Cuban
sugars in case there should be no redue-
ton in the duty?"
Very disastrous. because those who have
made advances on Cuban sugar to the ex-
tent of IN cents per pound would call all
their loans in for fear the price would go
lower, and 1t is to be feared that a panic
would ensue.'
Would Not Cover World.
Would 1t not lower the price the world
over7"
Not necessarily, because Cuba is very
weak financially"
George r. Bryson, newspaper editor and
commissioner Of deeds of Havana, gave the
names of a number of large sugar planta-
lions in Cuba which are owned by Ameri-
cans.
In reply to Senator Teller, he said more
than one-half Of the sugar Of the island is
produced by American citizens and Ameri-
can corporations. He knew Of no large
plantations In Cuba which are owned by
Cuban citizens.
Oscar w. Bonner, advertising agent for
the American Coffee company, was ques-
toned by Senator Teller concerning a
pamphlet entitled Facts About Cuba"
which the witness said he had compiled.
The reading matter was composed Of ex-
tracts from a number of newspapers ad-
vocating a reduction Of the duty on sugar.
There has BEEN" he said, about 81, 700 of
these pamphlets printed at a cost Of 81, 100"
He had consulted Mr.. Havemeyer about
getting 1t UP, the object being to counter
act the effect Of charges against the Sugar
trust. He said that he had had many of
these articles reprinted in 'patent-inside''
papers, paying for their insertion, but that
he had never had them printed In other
papers.