The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-15
ENERGETIC DEFENSE
OF TRUSTS BY Mr..
HAVEMEYER
Head of the Sugar Monopoly
Cites Reasons for Claiming
That These Institutions
Are About the Loveliest
Things Ever.
Special to The Globe.

SpecTa1 to The GhQDe.
NEW YORK, Jan 14.-sTrusts are a
public benefit. They mean low prices.
Low prices lead to increased consump-
ton and necessarily increased output
and increased work for the working
man."
This was theztenor of President Hav-
emeyer's address to the American Sug-
ar Refining company, whose annual
meeting was held in Jersey City today.
President Havemeyer, in his annual
address, referred to "so-c called anti
trust legislation. and commended the
message of Gov. Murphy to the New
Jersey legislature, in which the gov
ernor said that the nation was In mo
danger from corporations, however
powerfully organized, under and amen
able to it's own laws" Mr.. Havemeyer
continued:
1T is only by keeping the price down
that competition can be met, and our
legislators should inform themselves
of the situation and learn that in ouT
industry there is no such thing as pre-
of new refineries. It is impossible TO
understand what reasonable motive
there can be for much anti trust leg
islation. 1t is a curious commentary
upon much of the proposed legislation
that while its avowed object is to re-
lieve, its effect is to put restraint upon
the trade, that being directly the re-
verse of the action of cur great COM
mercial rival, England.
1T is not my purpose to criticise or
| comment upon the. various plans which
are under consideration to hurt cor
porate. business. What / say is intend
ed for our own stockholders. 1t is due
| to them that the business of this COM
pany shall be carried on SO far as 1t
| fairly and reasonably can be in their
interest, and this course the directors
| purpose to pursue, conforming always
of course, to whatever shall become the
| law of the land.'
Bill Next Week.
WASHINGTON d. c., Jan. a.
| Representatives LittIefield, of Maine;
Overstreet, of Indiana, and Powers, OF
Massachusetts, members of the sub
committee of the house judiciary com
| mittee, held q conference with the
president today, at which there was a
| free. expression or views on the sub
| ject of the antitrust bill. 1t is said
| the administration and the committee
| of members are IN harmony SO far as
| policy is concerned, and that the only
points of difference. relate to matters
! of detail.
Members of the committee feel con-
! fident, since the talk with the presi-
| dent, that the bill it had prepared sew
| eral days ago, and which will be re-
ported to the full committee Friday
| will meet the approval of the admin
| istration and be generally acceptable
| The committee will meet tomorrow
| afternoon, when such changes in the
| bill as may have. been suggested as
| a result of the conference will be made
! 1t is understood that an effort will be
| made to secure the immediate adoption
| of the bill by the full judiciary COM
| mittee Friday In order that it may be
| considered by the house early next
week.
There is reason to believe that the
| subcommittee will adhere to that
provision of its bill which provides
| for the promotion of publicity through
the interstate commerce commission
rather than to create a new commits
sion for that purpose. One member
| of the subcommittee said today:
| The purpose of the bill is to catch
| the guilty; if there are any, and nc
| harm can come to the legitimate. The
! bill furnishes the necessary machinery
| for obtaining all essential informa-
| ton"