New-York tribune., 1910-11-29

share of the STOCK or the fTtiiihiih N-
many which he would sell az a pront TO
the American Sugar Refining Company
Theodore a. Hevemeyer submitted d
like statement with regard TO Inc
! Sureckels company. Both wlthdre"
from the meeting. Some question arose
whether the Messrs. SpreckeIs Wouiu
mart with their share of the stock anu
whether the Messrs. Havemeyer would
part with their stock on the basis dis
cussed.
The secretary was solenDiy authofl|eu
| TO consult them on this subject and lei. /
the meeting for that purpose lie re-
turned and reported that the Messfs
| FIavemeyer were prepared 10 sell thelf
! ~ per cent of the stock Of both cofnpa- |!
MES. The Messrs Havemeyer agreed TO
the terms offered. and the directors re
manning at the meeting agreed to their /
terms.
How the National Was Acquired
Another transaction set forth at some
length in the bill is the acquisition by |
the American Sugar Refining Company
or. rather. by the Messrs. H. o ana
Theodore Havemeyer, of the stock OF the
National Sugar Refining Company, |
New Jersey corporation which. in ITSELF
was somewhat Of trust, since II COM
bined three companies formerly carrying
On Independent operations The National
has been regarded UP to recent date
| IS ore of the largest of the independent
| cor,panies competing with the Sugar
+ Trust.
In Nav. 1900 II is alleged, Henry 0.
| I5avemever. James H. Post, John E
Parsons and others acting with them de-
cided to eliminate the competition OF the
! New York Sugar Refining Company
Nollenhauer Sugar Refining Company
and National Sugar Refining Company
James H Post, representing unnamed
hasers. agreed to incorporate cor
por7tion in New Jersey with S10,0o0,oo0
preferred and $4,000. 600 common stock.
This company. the National Sugar Re
fnine Company. was duly Incorporated,
end IS. 800 600 OF the stock was dtstrib-
! 111ed among tho shareholders Of the
former company. while s1oooo.ooo Of the
stock was Il is alleged. handed over.
without consideration, 70 Henry Q.
Fl5venaever.
Henry . Havemever, II is declared,
delivered the 100000 shares OF common
stock thus acquired 70 himself and 10
veil N Palmer. a. a voting trust The
benef7cia RES under this trust, which was
10 last for FIVE wears, were set forth as
follows 5000 shares 70 Henry Q.
FTavernever. as trustee for MS children,
Horace Haven ever. AdaIine H. FTsltns-
huvsen ar6 Electra H webb; 10000
share 70 Lowell NJ Palmer: 5000
shares TO Washington r Thomas, at
present president Of the American Sugar
Refining C,onmpanv; 5000 shares 70
James H. Post, ard 400 shares 70 John
z Parsons.
All these shares Il IS set forth. with
the exception Of those set over 70 James
H. Post were later acquired by H ..
F1aveneyer. and were voted for him in
the name Of James H. Post end stln
continue IN the name Of Post for the
benefit of his heirs II Is further alleged
that the National Sugar Refining Com
nanv. IN June. 1900 acquired stock in the
w. ! McCal7a.n Sugar Refining Company
and has ever since controlled the output
Of that company.
The Segai Loan Affair
The bill further sets forth that th.
I American Sugar Refining Company ac--
oijred the stock Of the Baltimore Sugar
Refining Company and closed its re
Emery. that It acquired control of and
dissolved. the United states Sugar Re
fining pany, promoted by -Adolph
SegaI. and later by means of a loan MADE
to SegaI by C1ustave E Kissel, one OF
ne directors of the trust, paralyzed the
| oueratjons of the Pennsylvania Sugar
Refining Company. The relations OF the
trust with the last named company have
been before the public in connection
with the suit brought by the receiver oi
the company which was settled ny the
Sugar Trust in June. 1909
Agreements with competitors for the
47~i1e Of Drices before 1892, when IT con
+roIlad gs uer cent of the total output
Of the United states. and the weighing
frauds and rehating proved against tfie
c,npanv are further alleged as reasons
why the trust should be enjoined from
continuing business
+abulation of the output Of the cane
sugar refineries throughout the country
shows that the companies owned either
entirely or IN part by the American
Sugar Refining Company turned out
4o17 0a3, 100 pounds as the average in
the last three years, while the eight IN
denendent companies operating through
ont the country had average output
in the same period Of 1910, S43,102, SO
that the trust manufactures - per cent
Of the whole output of the country.
The alleged acts Of the American
Sugar Refining Company III controlling
the beet sugar refining industry are de-
scrfbed in the bill of complaint as sim
liar 10 those used in gaining control Of
the sugar production. It is charged that
in 1901 H 0. Havemeyer and Lowell
NJ. Palmer in undertaking to ruin the
thirty-one independent companies COM
peting with the trust arranged for re
bates with the various railroads run
ming out OF New York to the Middle
/ West States where beet sugar factories
were operating and flooded their mar
kets with refined sugar. which was sold
below the cost OF production. As q
result of these tactics IL is alleged the