Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-01-13

apply, and it was therefore at all times a..
sumed by this company and It's directors and
officers at the time OF the Segal loan, and still
is the opinion of the counsel, who have re-
presented the company IN Tue nusauou, tnat
the short time loan, which Was made TO Segal
upon the security of a controlling interest IN
one refinery, was not violation of any law.
In the suit brought by the Receiver of the
Pennsylvania Sugar Refining Company
against your company the United States
District Judge, who tried the case at FIRST.
sustained the position of this company in this
respect. The Circuit Court of Appeals how
ever, upon the averments made by the Penn
sylvania Sugar Refining Company in its COM
plaint felt constrained to hold otherwise.
In this decision and in the subsequent Ameri-
can Tobacco case. that court gave a much
wider Interpretation to the Sherman Anti
Trust Law than any that had heretofore
been given. Its snundness is now under review
in the Supreme Court of the United States,
on an appeal in the Tobacco case and that
court will soon finally determine the question.
On the trial of the case against your company
following the reversal of Judge HoET'S deci-
sion by the Circuit Court of Appeals. prop
osition was made TO settle the plaintiffs
claim for less than one-ffteenth of the entire
claim, and under the advice of the very
eminent counsel. who represented this COM
pany, 1t has given its assent to such settle
ment. which has now been carried to final
consummation. The litigation is therefore
ended.
VI. (onoIuon or KehnerleS. =
The general physical condition of your re-
hnerieS is excellent.
The company's new refinery at Chalmette,
La. which has been in progress of construc-
ton for several years. commenced Its opera
tions last May and has a refining capacity Of
100000 pounds daily. 1t is equipped with
the latest labor saving machinery and. as a
consequence. it is expected that sugar can be
refined at this refinery more cheaply than at
any other in this country. Extensive i'm
provements are in progress at the companyS
Boston refinery. which will lessen the risk
from lire, result in greater capacity and per-
NIT of more economy in operation. These inn
provements in Boston have involved during
the current year the expenditure of about
100000 Additions to the facilities for tor
ing and handling sugar have been mad in
Jersey City. Radical improvements are also
in progress in this refinery, in connection
with the boiler house and power systems.
During the. year the Philadelphia refinery has
benefited considerably from the improvements
made in 1905 at cost of approximately
100000. new electric power system and
other electrical equipment have recently been
added, and these expenditures have aggre-
been done in the Havereyers & Elder Rein
cry to produce more economical results and
upon this work satisfactory progress can be
reported.
very valuable asset of the American
Sugar Refining Company is the Brooklyn
Cooperage Company. 1t has factories in
Boston, New York. Philadelphia. New
Orleans, and Port Chalmette, La. with re-
serve factories and reserve stock as precau-
tons against fire. 1t now owns in New York
State 40 600 acres of timber land with stump
age rights on 10000 more acres. In Penn
sylvania it controls timber on about 10000
acres. In Arkansas 1t owns 10000 acres and
in Missouri, 10000 acres. 1t owns and oper-
ates 8 stave and heading mills and incident
ally operates 80 miles of railroads in order to
get its timber to the mills and thence to the
factories. The condition of this company Is
most excellent and largely adds to the efficient
and economical handling of sugar.
1t gives your Board great satisfaction to
state that the technical operations of the cane
reineries and the beet sugar factories are
showing better results than at any time in the
history Of the company.
Your Directors fully recognize that tho
continued and permanent success of your
company must depend upon its ability to
make the best refined sugar as economically
as any of its competitors. and to sell it to the
consumer upon fair and reasonable terms.
We have disposed of our interest in the
coffee business. as well as our interest in
some other agencies of distribution.
VII. Financial Condition.
Until a full statement of our financial
condition can be prepared. the directors wish
to assure the stockholders that the year has
been prosperous one. The dividends have
been fully earned.
The company's financial report for 1909.
giving the results of the years business and
statement of assets and liabilities OF
December 31st, 1909, is being prepared and
will be sent to the stockholders at the usual
time.
The directors are greatly gratifed to have
received proxies for over $40 600 shares.
which is the largest number the management
has ever received in the history of the conn
pany.
VIII. List of Re6neries.
The American Sugar Refining Company
operates the following cane re6neries.: +,
Standard Refinery. Boston:
Havemeyers & Elder, New York:
Matthiessen & Wiechers. Jersey City !:
Spreckels Refinery, Philadelphia:
Chalmette Refinery, New Orleans.
The company also owns and holds in re-
serve In readiness to start IN case OF the des-
truction of any of the active re6neries by
fire, 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-quarter OF the
capital stock Of he National Suear Refining
ern Sugar Refining Company of San Fran.
CISCO
The beet sugar companies In which the
American Sugar Refining Company is inter.
ested are the following:
Alameda Sugar Co., California:
Spreckels SUGAR Co.. CALIFORNIA;
Utah-Idaho Sugar Co.. Utah:
Ama'gamated Sugar Co. Utah:
Lewiston Sugar Co.. Utah:
Great Western Swear a.. Colorados
Michiean Srlpar Co.. Michigan;
Iowa Swear CO.. Iowa:
Carver COUNTY Sroar Co.. Minnesota :
MenominAo River Smear Co. Michigan
Continental Sugar Co., Ohio.
By order of the Board,
G. r. HEIKE.
Secretary
Ianuarv r. 10f0