The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-01-13
ANNUAL REPORT
The AMERICAN SUGAR REFINING COMPANY

1NO OO4F14 AN 4
apply, and it was therefore at all times as
sUmed by this company and its directors and
officers at the time Of the Segal loan, and still
Is the opinion or the counsel, who have re-
presented the company IN the litigation. that
the short time loan, which was made 70 SeZaI
upon the security of a controlling interest IN
one refinery, was not a violation Of any law
In the suit brought BY the Receiver of the
against your company the United States
District Judge, who tried the case at first, 6
sustained the position Of this company in this
respect The Circuit Court OF Appeals. how
ever, upon the aveTments made By the Penn
syITania Sugar Refining Company IN its CON-
plant, felt constrained 70 hold otherwise
In this decision and IN the subsequent Ameri-
csn Tobacco case, that court gave a much
wider Interpretation 10 the Sherman Anti
Trust Law than any that had Heretofore
been given Its sOundness is now under review
IN the Supreme Court of the United States
on an appeal in the Tobacco case and that
court viii soon finally determine the question.
On the trial Of the case against your compspv
following the reversal Of Judge HOLT's deci-
sion by the Circuit Court Of Appeals q prou-
osltlon was made to settle the plaintiffs
claim for less than one-hfteenth Of the entire
claim and under the advice OF The very
eminent counsel who represented this com
pany, i has given its assent TO such settle
ment- which has now been carried 70 final
consummation. The litigation Is therefore
ended
VI. Condition of Rehneries.
The general physical condition Of your r.
fneries Is excellent
The company's new refinery at ChaImette.
La, which has been in progress Of cOnstruc-
llon for several years commenced its opera
ions last May and has a refining capacity OF
3-ODO.OOO pounds daily, 1t is equipped with
lne Iatest labor saving machinery and, as a
consequence, II IS expected that sugar can be
renned ar this refinery more cheaply than at
any other IN this country. Extensive in
DrOVementS are IN progress at the comoancs
Boston refinery, which vii lessen the yis.7
from bre, result IN greater capacity and per-
nat OF more economy IN operation These i'm
prOTements IN Boston have involved during
the current year the expenditure Of about
S4oOOOO. Additions 70 the facilities for stOr-
ing and handling sugar have been made IN
jersey CITY Radical improvements are also
IN progress IN this refrsry. IN connection
with the boiler house AID power systems
During the year the Philadelphia refinery has
benefited considerably from the improvements
made IN 1905 ar q COsE Of sDDrOTiusfeIv
S2OV,OOu new electric power system and
olner electrical equipment have recently been
added, and these expenditures have aEgre-
gated about 100000. Much work has also
been done IN the H7VeC eyers & Elder Rein
cry 20 produce more economical results. and
upon this work satisfactory progress can be
reported
a very valuable asset Of the American
Sugar Refining Company Is the BROOKLYN
Co0perage Company. II has factories in
Boston New York, Philadelphia New
Orleans. and Port Chalmette, La with re-
serve factories and reserve stock as urpcsu-
IONS against IRE II now owns IN New York
State 10000 acres of timber land with stump
age rights on G0.000 more acres In Penn
SylTanla y controls timber on about 10000
acres In Arkansas II owns 10000 acres and
IN MISSOURI 10000 acres It owns and oDer-
- nz zFe 4 80
ally operates so miles Of railroads in order to
get Its timber to the mills and thence 10 the
factories The condition o. this company IS
most excellent and largely adds to the efficient
and economical handling Of sugar
It gives YOUR Board great satisfaction to
state that the technical operations OF the cane
Teh1eTIeS and the beet sugar factories are
slowing better results than at any time IN the
history OF the company
IOur Directors fully recognize that fhs
con 'nUed and permanent success Of vol,r
CONF any must depend upon its ability 10
make the best refined sugar as economically
as any OF Its competitors, and TO sell il 10 the
cc1S-Imer upon fair and reasonable terms
We have disposed of our interest in the
oi-ee business, as well as our interest IN
-oals other agencies OF distribution.
VII Financial Condition.
Until a full statement OF our financial
eo11itiOn can be prepared. the directors wish
10 assure the stockholders that the year has
been = prosperous one. The dividends have
ben fully earned.
The company's financial report for 1902
giving the results of the years business AMI
statement Of assets and liabilities as Of
December 31st, 1909, IS being prepared and
viii be sent to the stockholders at the usual
time
The directors a. greatly Eratifed to have
received proxies for over $4,000 shsres
which Is the largest number the management
has ever receive4 in the history Of the con-
pany.
VIII. Lis OF Rehneries.
The American Sugar Refining COMPANY
operates the following cane Teineries.:
Standard Refinery. Boston:
HavemeveTS & Ilder, New York:
MatthieSsen & Wiechers. Jersey City.
Spreckels Refinery, Philadelphia:
Chalmette Refinery, New Orleans
The company also owns and holds in r.
serve IN readiness TO start in case of the des-
nre, or IN case of an excessive Temporary
demand for refined sugar
The Franklin Refinery, Philadelphia
The Louisiana Refinery, New Orleans;
The company also owns one-quaTter Of the
"a 1ital stock of the National Sugar Refining
Company. and One-half interest in the West
Ell, Sugar Refining Company Of San Fran
cisL,.
TIE beet sugar companies in which the
American Sugar Refining Company is inter
2sted are the following:
Alameda Sugar Co. California;
Spreckels Sugar Co. California
Utah-Idaho Sugar Co, Utah;
Amalgamated Sugar Co Utah;
Lewiston Sugar Co, Utah;
Great Western Sugar Co Colorado;
Michigan Sugar Co. Michigan;
T0rz-o Srr-ars 90 Tar-a