The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-01-13
I. Ownership Of tse Company.

II Is commonly supposed mat the shares or
your company are owned by a comparatively
few residents Of New York City. The fact Is
that the average holding OF stock by any in
dITidusl Is less than fifty shares. The ma
JoTlty OF the stock Of your company Is held IN
New England. and its value and stability As
an investment is best evidenced by the fact
that your shares are largely held BY executors
administrators. trustees and other fduciariey
Its stable value as an Investment Is also
attested bv the fact that there have been no
substantial changes in the stockholders for a
very long period The number Of our stock
holders or common and preferred stock is
1S4S4
In view Of the preponderant holding of
stock by New England shareholders YOU will
he asked TO increase the Board Of Directors
by two members and for these positions the
names Of Mr. Edwin + Atkins and Mr.
Samuel Carr. both Of Boston. and both well
and favorably known in business circles, VIII
be submitted for your approval Another
vacancy In the Board has been created BY the
declinatiOn Of Mr.. Charles II. Senf 70 serve
another term and to I'll his place a number OF
Influential stockholders have suggested the
selection Of Mr. i. :. Marston the President
OF the Farmers Loan & Trust Company. Of
New York. one OF our oldest and most con
seTvatlve financial Institutions Among other
changes, II may be noted that your Board
has selected James VI. Beck formerly ASsiS-
taEt Attouey-General Of the United States.
as the new General Counsel for your Com
Uany.
II This Company not a Monopoly.
Another misrepresentation. % which It seems
advisable 10 call attention. Is the common
belief that your conn any exercises mono
poly IN the sugar trade When IN 1894 the
supreme Court OF the United States autBorI-
tativelv decided in United States vs. knight.
q a., I56 L 8, J, that your company was
not a monopoly under the Sherman Anti
Trust Law this company had q much larger
percentage of such trade. but, with the
and TWF~ngETUw rnr0nn+TrT0r
~bich has since prevailed. the figures Of
-tsssTs WIllett q Gray. the recognized sugar
statisticians. show that your company does
not now refine more than 49, per cent. OF
the sugar consumed in this country and this
notwithstanding he fact that the MEETINGS Of
your company have been well maintained.
There are IN the United States three es-
Srutially different classes of establishments
producing sugar, firstly, the refneries which
f-aW their raw sugar almost entirely from
l1TeiCn countries and the dependencies Of the
Z nited States secondly, the beet sugar fac
tories which make white graduated sugar
directly from beets: and thirdly, the factories
Of Louisiana and the South which extract
sugar from cane grown locally Your com
rany Is not interested in any way whatever IN
This third class Of establishments. OF the 81
cane sugar refneries, with an estimated max
imum capacity OF daily MEETINGS of 35,0OOOOO
pounds, your company operates rehneTleS
and has an interest in each case less than
Majority in refinerieS and It has no in
these independent refineries and those oper-
atcd by YOUR company, the competition IS
continuous and severe While the number Of
your refneries in operation Is less than at
times in the COnpany'S history, due to the
consolidation OF some refining plants Yet
the increased capacity OF our other refnerles
as caused Il substantial increase IN the act
raI capacity OF your cane TefnerIcs- This
Increased capacity, however, cannot at pres
lr- be fully utilized, as the total capacity OF
% the refneries Of the United States IS
much In excess of consumption The con-
-.nntiou for the year 1909 shows approx
lately an increase of $3.50 over the previ-
Us year The MEETINGS of the American
agar Refining Company show an approx
=.ate increase of 1,17Co over 1908
OF the Ga factories which produce sugar
com beets with an estimated aggregate
rrfIv ca0acitv OF 47,TO0 tons of beets and a
-eriod Of operation OF from - TO 100 DAYS
each year, your company Is interested in 33
factories with daily sliCing capacity Of
about 26.JOO tons, and has no interest In 81
Erpf1rIpc