The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1904-08-04

OIL Ino executive committee, anu lie
also was elected.
Who is Cord Meyer, and who is
Patrick Fl. McCarren? Let the re
cord tell the story:
Cord Meyer was one Of the origin
al stock holders in the first orgariza-
ton of the Sugar Trust in 1897.
Sixteen refining companies entered
the combinatiOn with a total value
of Sc. $4,000. The secold company
to enter was the Dick 4 Meyer com
pany in which Cord Meyer was. in
terested. This company was put in
at 100000, and to it was issued a
total Of several millions in trust
certificates. That was the usual
trust procedure as shown in the
Shipbuilding Trust exposure. Have
meyer, testifying before trust in
vestigation which was conducted by
Joint committee of the two houses
Of the New York Legislature III 1897
said with his usual frankness, that
the Sugar Trust was formed to con
troll the price and the production of
sugar in the United States. Evil
dence was presented at the same
investigation that the Trust con-
trolled the sugar business, even
down to the retailer, by system of
factors agreement and that grocers
agreements to sell sugar at the
price dictated by the Trust had
their supply shut off. 1t was shown
that seven or eight large refineries
were shut down, and that between
5000 and 5000 men were thrown
out of employment permanently,
In their report the Investigating
committee which had gone into the
Tobacco, Rubber and Wall Paper
Trusts, as we'll as the Sugar Trust
declared that everv such combina-
ton was accompanied by enormous
capitalization, and was generally
followed by a successful effort to
distribute its stock to the public
through the channels of speculation.
Every. AKeh combination was follow
ed by TAe closing and dismantling of
factories, the discharge of labor and
the concentration of the business of
many separate organizations into
few of the many factories controlled
by the combination.
To this report all the members of
the committee, save one, affixed his
The dissenting member
was Patrick H. McCarren, who made
a minority report defending the
trusts, and especially the Sugar
Trust, as benefcent institutions.
Was it by mere accident that these
two trust beneficiaries and defenders
were put in charge of the Democra-
tic campaign in New York? Meyer,
in addition to having been a stock
holder in the Sugar Trust, is
director in a half dozen or more
other fruits. He is millionaire and
is personally acquainted with the
of Wall street. No s"oner
was the New York delegation
secured for Parker than Meyer be-
gan to "pass the hat" in Wall street
for funds to promote the Parker
candidacy, saying that Belmont had
born all the expenses to date, and
that others should help in order to
get Parker nominated His function
is to collect the money from the
Trusts, while McCarren is to spend
it where it will do the most good.
McCorren was known for years as
the worst man" in the New York
legislature, and money placed in
his hands will be used on other than
Sunday school principles.
One other point remains to be
taken from the record. At the
Dem ocratic State conven ton, which
chose the Parker delegation, four
Presi Dental electors-a large for the
state were selected. One of those
was James I. Woodland, president of
the Hanover National Bank of New
York, another was Henry Payne
son Of the late William C.
Iand third was Isador
Straus. These withdrew several
weeks latter under a loud outcry
from the Democratic press, led by
the New York World, because one
as president of National Bank and
the others as directors in such insti-
buttons, were ineligible under the law.