The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1902-05-08
HAYEMEYER WITNESS
Congressional Committee Probes
Into Sugar Trust Affairs.
ITS PRESIDENT IS QUESTIONED
inquiry as to Ownership OF Cuban
Sugar and Sugar Lands is Be- |;
gun at Washington by spe- ;
cial Committee.

The inquiry into the present holding
of the Cuban sugar and sugar lands,
ordered by the senate, was begun az
Washington Thursday by the sub
committee on Cuban relations. Pres
ident Henry O. Hayemeyer, OF the
American Sugar Refining company
was the first witness, and all OF the
members of the subcommittee,
Messrs. P.att, Of Connecticut; Burn
ham and Teller, were in attendance.
Senator Patterson was. also present.
Others present with Mr.. Havemeyef
were Arthur Donner, treasurer OF rne
company, and Henry c. Mott, its raw
sugar buyer. All Of them were sworn.'
Replying to questions by Senator
Platt Mr.. Havemeyer said his COM
pany was generally known as the SUI
gar trust and that it's refneries were
located as follows: I'm New Jersey,
one: in New York, three; Massar
chusetts, two; Philadelphia, two. and
one in New Orleans"
will you," Senator Platt asked, tel
the committee how much Cuban sugar
if any, has been purchased and Is now
held by your company?
"Since early in February last we
have purchased $4,000 tons or 256,oo0
bags or about ten days supplies, re-
piled the witness. #
"Of the quantity, $4,000 tons Is now
in process of shipment from Cuba.
The prices paid had, he said, ranged
from s1.75 to $1.ss, the highest price
being paid on March 13, and the low
est on April %.
Where I'D you buy your raw SD"
gar?"
"All over the world-ln Cuba. Java:
Hamburg, Trieste, the British Wess
Indies. South America-wherever SUI
gar is grown"
Does the $4,000 tons you mention
represent your entire purchases IN
Cuba since the 1st Of January"
mo- We have bought all told, sS'.
900 tons of Cuban sugars during the
present year, or about three-fourtns
of a months supply, our consumption
being about $4,000 tons per week.
"Do you control any sugar IN Cuoa
other than that purchased?"
"None whatever in any manner. =
"Haye YOU taken any options on GU
ban sugar."
81 have not"
"Have you made any advance on
1aHy Cuban sugar."
"None whatever"
$50 you wisd to be understood a.
saving that the amount you have men-
toned as having represented your en'
tire stock direct and indirect in Cue
ban sugars"
THAT is the statement make"
Continuing, Mr.. Havemeyer said
the entire Cuban sugar crop is about
100000 tons, but that much OF It mas
been withheld from the market IN
view Of possible tariff concessions 70
be made by congress. On this account
the increases have been only about
one-third Of the average OF other years.
On this account, too, the purchase
had been made principally at outforts.
where the storage facilities were poor,
rather than at Havana. The purchases
from the outports had caused most OF
the shipments to be made from these
ports rather than from Havana, where
the company had about $4,000 tons
stored. The purchases at the out
ports has caused the sales there TO
be made on a parity with the best SUI
gar prices.
Speaking of the capacity OF bis
company, he said that it refined TO
per cent OF the American refined pro-
duct