New-York tribune., 1908-01-09
SPRECkELS WINS POINT
FOR GREATER PUBLICITY.
Stockholders of -4merican Sugar Re
fning Co. Adopt His Plan.

Claus a. srreokels won a partial victory in MS
campaign for greater publicity in the affairs OF the
American Sugar Refining Company the annual
meeting of the stockholders of the corporation held
introduced and unanimously adopted calling for a
statement Of the companys business, assets and
finances
Contrary TO expectation the meeting turned out
70 be quiet affair. Early in the session w B.
Thomas. the acting president. announced that in
the future he in favor Of entering upon a
policy OF greater publicity concerning the COM
pany's affairs. and the following resolution was
then introduced and adopted:
That the directors be and they-are they reageste,d , to
the cOmpanys business. it's and finances. as
II them shall seem suitable having reference 10
All the circumstances 10 be considered: that they
be requested 10 take action this matter at their
hereby Is. referred 10 them with fun authority
Mr.. spreckels jumped TO his feet and offered an
amendment providing that the report should be q
detailed setting forth the arnings Of the
company ard the valuation its various consttu-
ert companies President Thomas ordered the sug-
gestion spread upon the minutes. and promised
that il would be favorably received by the di-
recfors The only other time that Mr.. Spreckels
showed any activity when a resolution was in
troduced providing that the earnings of the com
panv outside Of those disbursed in dividends be
credited to surplus and used working capital
How can the shareholders be asked 10 deal in
tellgently with question Of that character" he
asked. until they are informed what surplus there
is hand?"
You VIII know in time" replied John E Par
sons one Of the and also counsel for the
company.
Mr Spreckels protested that he wanted to know
a. once but despite his objections. the notion was
put ana carried
During the interrnission. while the proxies were
being counted. MI. Parsons had long talk with
Mr. SDreckels Afterward Mr.. Spreckels said: Il
am rerfecriv satisfied with the arrangements which
have been made. Nj Parsons assured me that
tie report which the directors will prepare for the
stockholders will be q detailed giving ade-
o,ate information in regard 10 the company's af-
fairs. That was all that wanted That is what
the stockholders have been looking for, and finally
they VIII SET il
Secretary Iicke read a statement expressing the
loss felt bv the directors the death of Henry o.
F4averneyer which occurred on December l. The
statement reviewed the Havemeyer policy and ce-
clared that the press OF the country had been IN
a1tributing the late president any desire
90 withhold legitimate information. After the sec
recarys statement had been read. John E. Parsons
and George H Frazier. whose terms had expired.
we're reelected directors and Horace Havemeyer
vas elected 70 the board succeed his father
IA the annual statement Of the president Nj
Thomas referred 10 the death OF Henry o. Have
meyer He sai5 that Mr.. Havemeyer had always
opposed publicity connection with the business
OF tie company. He was emphatic, however taat
every statement required by law 10 be made should
he published but in the case of private
-,s-arions concerned competitive business the
question Of what was be done Nj Havemeyer
always believed should be determined by the stock
holders of the company
Nearly the entire voting stock Of the company
vas represented the meeting, there being 3d. 500
shares represented