New-York tribune., 1910-01-13

coLsloer the lesanlV or the acquisition by
the company OF four sugar refineries in
Philadelphia it held that the Interstate law
did not apply, and that it was because
of this that it was assumed bv the direc-
tors and officers and still was the opinion
or their counsel. that the short-tirne loan
made to Segal on the security of con-
trolling interest In one refinery was not a
violation OF any law
In the receivers suit the report calls at
tenrion TO the fact that the United States
district judge who tried the case first up
held the position OF the company This
was reversed by the United STAKES Circuit
Court OF Appeals. In the trial following
the reversal OF Judge Holt, the company
settled the case for s.. 100000 represented by
S7500oo in cash and the cancellation OF the
loan, which amounted TO 81 $4,000
a much wider Interpretation OF the Sher-
man antitrust aw was given IN the de-
cision Of the Appeals Court the report says,
than had heretofore obtained. and atten-
lion was called to the fact that the sound
Tess OF this opinion was now under re-
view before the United States Supreme
Court on an appeal in the tobacco case.
That was the extent ot the references in
the report TO the litigation in which the
company is or was concerned.
In regard to the business of the COM
pany, the report starts out by saying that
the publicity TO be given to II is a recog-
nti:on of the legitimate interests Of the pub
lie in a business organization which deals
TO a large extent in a necessity of life.
Another reason follows,
A further motive for this report is found
in the fact that it seems 10 be the only
method by which this company can cor
rect the widespread Misrepresentation and
unjust criticism 10 which II has been sub
jected- = business corporation can have
CAT Taf fNrn he will
of the public, and that good will can best
be gained by explaining 10 the public the
nature Of any existing nisapprehension as
TO IT'S character and operations
AS a matter of interest it was reported
that the average holding Of stock in the
company was fifty shares. The 100000
shares were distributed among 1s.4S4 stock
holders, held preponderantly in New Eng
land. II is a Misrepresentation, the re-
port says. TO hold that the company is a
monopoly. When. in 1894 in the knight
case, the United States Supreme Court
held that the American Sugar Refining
Company was NOT q monopoly under the
Sherman act il controlled a far greater
percentage OF the trade than at present.
Now. according 10 q statistician il refnes
only 43-5 per cent Of the sugar consumed in
this country.
Of the twenty-one cane sugar refineries
seven, has minority interest in four. and
no interest whatever in ten. Between the
rednertes operated by the company and in
which ii had an interest and the others. il
was said that the competition was continu-
GUS and severe But the business Of the
company had increased despite the curtail-
ment OF holdings, and this due 70 the
consolidation OF plants and the increased
capacity OF others belonging 10 the COM
pany. The latter has majority interest in
the beet sugar plants
REFUNDING OF DUTIES
It is denied in the report that the COM
pany derives a benefit from protective du-
ties. The actual protection amounted TO
only about one-sixteenth Of a cent pound,
and the company in fourteen years paid in
duties TO the government $685.. 900. .090. The
duty, it was also said, was substantially
refunded by the government On any equiva-
lent quantity OF refined sugar produced
from the imported raw sugar and exported.
II was denied that the company sold sugar
for export az Z lower price than for domes-
tic use OF this the report says:
GranuIated is now quoted for export at
S.Lo cents, AGAINST domestic price OF 40
by the refund by the government of the
larger part of the duty previously paid uTon
Of a product manufactured in this country
and this refund ig in pursuance OF the
eTporfaTfo Of prodYcts prodmeed n b1 REoeris tre
can labor and capital
Another denial was OF the interests di-
recJly or indirectly. in Cuba, Porto Rico.
Hawaii, the Philippine Islands or any
foreign country, thus not sharing in the
advantages that owners Of sugar planta-
tons in the foregoing countries might
have in sending sugar 70 this nnarket
Reference is made, with much salts
faction, 10 the price OF sugar to-day as
compared with 1900. II being on the average
FOR the last five years, for granulated,
4668 cents. as compared with 4878 in the
previous five years.
The American Sugar Refining Company
according 10 the report. owns thousands of
acres OF timber land in connection with its
subsidiary, the Brooklyn Cooperage Com
pany, by which its barrels are made It's
lands are distributed as follows: New York
State, 5000 acres, with srumpage rights
on 5000 acres more; Pennsylvania, 300OJ
acres: Arkansas, 10000. and in Missouri
$1,000 acres. II also owns and operates
eighty miles Of railroad and operates nine
srave and heading mills, and these, con-
necred with The Brooklyn Cooperage Com
pany. ith is said, add 10 the efficient and
economical handling OF sugar
The company has disposed Of its interest
/ in the coffee business. the report says, as
well as its interests in other agencies Of
distribution. Apart from the defence Of
It's business methods. the report breathes
/ satisfaction in the progress of its plants
and its ability to meet competition. The
+ directors declare that the cane sugar re-
fneries and the beet sugar factories are
/ showing better reslts thuan at any other
( lime in the history Of the company. The
re3ort closes with the following lost Of its
/ interests:
! Cane rehneries being operated: Standard,
Of Boston; Havemeyer & Elder, OF Will
iansburg; MaJthiessen 6. Wiechers. Of
! Jersey City; Spreckels, of Philadelphia. and
/ the ChaInette, Of New Orleans. Held in
reserve: The Franklin, at Philadelphia,
and the Louisiana, al New Orleans. One
/ quarter Of the capital stock of the National
! Sugar Refining Company is owned by the
! American, and a half interest in the West
ern Sugar Refining Company of San Fran
| cisco.
BEET SUGAR INTERESTS
I The beet sugar companies in which it is
interested are the Alameda Sugar Gem
panv Of California; Spreckels Sugar Com