The evening world., 1908-01-08
'SUGAR TRUST
i VOTES POLICY
OF PUBLICITY
President Thomas Favors the
Plan and Stockholders
Join With Him.

The annual meeting OF the stockhold-
ers of the American Sugar Refining
Company. held this afternoon in the
Office Of the concern at the corner of
, Essex and Washington streets. Jersey
City. was one of the largest in the his
tory of the company. There were 53I.
SEQ shares of the stock, nearly the en-
fAre issue. represented.
Claus A Spreclsels. who owns over
5000 shares of preferred and who had
anttmated that unless there was some
sort of q statement given out at the
meeting to-day he would carry the mat
ter into the courts. was present, but
when President w. r. Thomas an
nounced that a policy of publicity was
to be adopted and that the directors
II they saw tit could cause to be pub
Eshed a statement of the assets and
finances of the company the threatened
fght Of Mr.. Spreckels that was TO be
carried into the meeting did not
evtntuate.
A resolution was then adopted pro-
Viding for the frequent publication Of
the company's affairs.
In reading the annual statement of
the president Mr.. Thomas referred to
the recent death OF Henry .. Have
meyer. He then stated Jnat Mr.. Have
meyer had always opposed publicity in
connection with the business of the
company. He was very emphatic, how
ever that every statement required by
law TO be made should be published,
porations. concerned in competitive
business. the. question OF what more
was TO be done. Mr.. Havemeyer al
ways believed, should be determined by
isfied that publication OF the finances
of the concern would interfere with its
business, then their wishes would gov
ern. Continuing. Mr. Thomas said:
Il believe that in the case of large
corporations publicity is desirable, and
! myself am heartily In favor of it.
The time to make those statements.
however. is a matter Of grave consid-
pe the subject of much study on their
part. / approve of the policy of publi-
cation
on the suggestion OF H. b. Classon IT
tors prepare and have published
statement showing the assets and La
bilities and other finances such as they
deem fit to have published
Mr. Spreckels then mad. a suggestion
that the report should include i state
mcnt of the property owned BY the
company. showing the several plans
that have been dismantled. and this
was spread upon the minutes
Gilmer Clapp who mas been a dl-
rector of the company for number Of
years, said he wanted 10 go on record
as approving the pas. policy OF the man
Asement ot yhe company, and mo. cd
that the act of the Boaed of Directors
on Jan. 2 aast in reserving the accumu-
lated profits and surplus as working
capital be approved
Mir. spreckels was on his feet in an
instant 10 ask what were the profits and
surplus. Mr.. Clapp ansW ered that the
amount had not yet been determined.
and Mr. Spreckels inquired whether tae
stockholders were expected TO give a
vote of auuroval 20 something TINT
was unknown to them, wheroupon Mr.
Capp s;ld that the object of mis- mo-
ton was to approve of the action OF
the Board of Directors. and that the
amount involved would be made known
as soon as possible.
John f. Parsons and George E. Fraz-
is% were reelected directors.