The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1903-04-10
SUGAR TRUST GETS
ANOTHER PLANT
DETAILS OF ALAMEDA SUGAR
COMPANY REFINERY DEAL CIV
EN- BY THE CHRONICLE.

SAN FRANCISCO, March 29.-Thir-
teen thousand five hundred shares of
the total of q, l21 in the Alameda Sugar
Company were purchased last Thurs
day by Eastern capital through SUtrJ
d Co, the San Francisco brokers. The
deal was a month in reaching It's eli
max. 1t is supposed that this big sale
Of stock means that the Alameda rehn-
cries have been taken into the sugar
trust
Since its inception as the Alvarldo
refinery, the company has paid more
than 81 per cent in dividends. The en-
terprise has done remarkably well IN
the face of opposition, and now, with
the Crockett refinery closed down, it
may be expected to do better. 1t has
paid Is per cent on its stock this year,
and on April 14th the directors are to
meet and they will probably declare
another dividend.
The Alameda Sugar Company en-
plOys about 200 men at it's two refineres
at Alvarado and buys sugar beets from
about 300 farmers in the vicinity of its
work. During the last year the COM
pany's sales aggregated between $500,
900 and 100000
There is absolutely no fear That the
works are to be closed down. This
is a sugar beet concern that has been
paying well. The Crockett refinery
was working largely on sugar cane
from the Hawaiian Islands and pdrtly
on sugar beets from Contra Costa
county, and was constantly fighting
the Spreckels and did not pay. When
it was absorbed by the trust it was
removed from business as an eX-
penSive investment. But with the
Alvarado refineries it is different. They
are supplied only by sugar beets
grown in the nelghborhood and have
paid well all along.
! Whenever the trust has absorbed
beet sugar refineres in Utah, Colo
RADIO, Michigan and elsewhere, it has
continued operating them, every one
that paid. The Crockett factory was
a competitor that did not pay, and it
was taken into camp and suppressed.
The $500 Alameda Sugar Company
shares were bought up the other day
at the comparatively low price Of
S3l.50 a share, which was considered a
good investment 1t was reported
that Charles j. Welsh of New York
was behind the deal but who was be-
hind Welsh was not known, though
the trust is supposed to be the pur-
chaser, with previously secured stock
| enough to have a controlling interest
since the transfer of this block of
| Il, 800 shares.
Following is the form of letter sent
out to shareholders previous to the re-
cent purchase:
| Dear Strive have arranged for the
purchase of 1880 shares of the capital
| stock of the Alameda Sugar Company,
! at approXima tely $3.50 a share.
/ All stockholders of record on the
books Of the company on March 70,
! 1903, will, upon delivery of their stock
on March 80, 1903 receive at the rate of
! $50 a share for one-half of their re-
/ spective holdings. and a receipt for the
remaining one-half on the stock so de-
/ livered.
| New stock will be delivered in ex-
change for these receipts on or after
April 3, 1903 upon return of said re-
Ceipts.
The balance. namely. $50 a share,
/ will be accounted for when the 1902
crop of the company has been entirely
sold as the exact amount is cOntin-
gent upon the price obtained for this
crop.
The final settlement will Dc mace
| probably not later than September /,
1903, when due notice will be given you.
This participation expires and no
stock will be received by us after April
3, 1908, at A p. m Yours truly,
SUTRO & co.