Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1902-05-02
DIDN'T BUY LANDS.
Havemeyer Explains Holdings
In Cuba to the Senate
Committee,
ADMITS LOWERING OF PRICES.
keductlsn In Missouri Valley Was
Made to Regain Lost Trade, Which
He Declared Beet Sugar People Had
Secured by Unfair Means.

Washington, May 2.-President
Havemeyer, of the American Sugar
Refining company, appeared before
the senate committee ON Cuban rela-
lions yesterday. Accompanying Mr..
Havemeyer were Arthur Bonner,
treasurer of the company, and Henry
G. Mott, its raw sugar buyer. His
testimony was in part:
will you," Senator Plat asked,
tell 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 ESQ,
600 bags, or about 10 days supply"
replied Mr.. Havemeyer. "Of that
quantity 10000 tons is now in process
of shipment from Cuba. The prices
paid had ranged from s1.75 to $1.93.
the highest price being paid on March
Is and the lowest on April o."
Does the $4,000 tons you mention
represent your entire purchases in
Cuba since the first of january"
mo; we have bought all told $4,000
tons Of Cuban sugars during the pres.
ent year, or about three-fourths of
months supply, our consumption be
ing about $4,000 tons per week"
Not Trying to Secure Crop Control.
1T has been stated that your or.
ganization has been buying up CT
seeking to control large proportica
of the Cuban sugar crop and that II
concessions are made to Cuba, prae-
i tically all of the benefits would go to
your
There is no truth whatever in thai
statement"
What difference would there be Ii
the price of Cuban sugar as compared
with the Hamburg market if the en-
| tire Cuban crop was to be sold on
congested market?'
About one-sixteenth of a cent pc
pound. That would be cents pc,
| hundred, as against SO cents per hun
dred, which it is proposed to give tie
Cubans on the basis of a 20 per cent
reduction in the tariff. The difference
would all go to the Cubans."
In reply to other questions he said
| that the price of raw sugar in tn
| United States is fixed by the beet
| market prices in Hamburg. The prise
| there fixes the selling price for the en-
| tire world, said Mr. Havemeyer. On
the subject of the price of Cuban
| sugars he said that his compans
could not determine their price. We
have" he said, mo control over them
whatever; they don't belong to us.
Cuba mas to sell her sugar in this
market, hasn't she?"
mo, that is not true; she can Sci
in England, for instance, if she is dc.
sirous to do so. England could take
the entire Cuban crop
Continuing, Mr.. Havemeyer said
the entire Cuban sugar crop is about
100000 tons, but that much of it has
been withheld from the market III
view of possible tariff concessions tc
be made by congress. On this ac-
count his purchases had been only
about onerthird of the average ef
other years.
Speaking of the capacity of his
company, he said that it refined S.
/
product.
Mr.. Plat then asked: Suppose
the United States should make a con-
cession of say 20 or rs per cent in the
tariff rates on Cuban sugar couldn't
you refuse to buy the Cuban product
except at your own rates, and thus
secure the benefit of the concession"
Not Obliged to Sell to Them.
In no way" was the reply. Cuba
would be under no obligations to sell
to us, because, as / have said, the
Cuban producers could find other
markets
He said that some five or six years
ago he had acquired a half interest
in sugar plantation at Tanamo bay.
but that when the owners had prepar-
ed to utilize the land their own i'm
provements had been obliterated by
the insurgents and that nothing has
since been done with it. Other inter
ests held by him in Cuba were enum.
Grated as follows:
Forty per cent of the stock of a
| central called the Trinidad, which has
no land connected with it but which
produces about 5000 tons annually;
20 per cent of a sugar factory at
| Chappawa; slight interest in an
! other factory whose name he could
not recall: an interest in a plantation
| at Santa Cruz in connection with n
Mr.. Weleh, a Hawaiian planter.
| which produces from & 600 To 10 000