Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-06-20
James Post Before Sugar
Investigating Committee.
Denies That He Was Agency
In Attempt 10 Control Market.
Organization Of N. ]. Company
Unusual Interest In Testimony.

.
iofi''o' i'cti'ioh HeeNiiis .iie oi9 ee..0.
ton oil the American sugar itehiale
- vac tae Heol''I 80, % 60 -
POST president OF tie Na'ioi'dl 'ued'
rse'iiii.s - VI Ne" 1ei "'i -. op
peateo touay before Tue iiouae "us ~
lfhss llNestlsatiHg commute III
fost hatV ueilleo 'iie an. ''ehoii
.e'hi'u III 'iie
.iiat ne was 'iie SEM IN -.
III lo'f an mp "a9 iii'ae -,
- e'e lel'',l',e In i''''''e2
's, ~ enl,a,1isatia, IF the Now Jersey
~ .. ~ s'0,i MI, oa,.;
-, 1,,,,a,i,, M. PCT
s''.. - 900 ooo naa ai,.;a,d ,a,,a1.
=. -. ,,.ofo,.rad nd cor,,,o,
~ le.e,,,,,,,as, tal1.,, ia ,vore
9s,st.,,t.,a1 a. ha,,vao, 90 ooHnoo and
e. noo ooo
,t,e, 51;ee.r,,,c, ,,,.,s ,va+sro" in
,,rod M uord,yick
~, ), ,,.os Tho ra.ponea ..,rhe com
,1a,,ios hod valuable nronerties." The
Nov. yorl, sugar REFINING Co. one of
the companies bought. Mr.. Post said,
was worth 50 500 900 while only 81
225 coo WAS paid for it.
why was that" Chairman Hard
wick asked.
at was because competition had
been keen"
And this organization was effected
TO avoid competition -
1T had that effect"
Ten million dollars of common stock
that has earned S2.5O0,O00 of dividends
was the personal reward given H. o.
HayeInever for combining three very
good refineries" and thus creating the
| National Sugar Refining Co, according
to Mr.. Post.
MIR. Post explained that he. as UNI
disclosed agent for Mr. HaVemeyer.
worked for three years to com bine the
| New York Sugar Refining Co, the
Mollenhauer Sugar Refining Co. and
the National Sugar Refining Co. of
| New York in the National Sugar Re
6nin,, 20 fnf Now Jersev1 He Sc
c,,ro1 ontions on q ma iority of stock
cf these comnanfes and organized the
Now. cor,nan,. in 1900 The 10000. 900
| eor,r,o, stocl< was all issued To him
COLI be said
II ,,.as nromoters nrofit wasn't II -,
as1,a. 90, i,.,,,.,., HardvicIx
ut ontiroty,
..3t,,at ,Isa9s,
..yN9a1i tha,.a ,,ero three rafineries mt
t.z,satt,a,..,
~ ,,.i,,,o.... sa;d NJ uaven.uer
ia .,,o t,,,o,i,,a,, sugar Rafinine 90
- It'll, 10 zoe. ,,,.o..id.,,,t h,,,, =. mo.
-. - ~, r,,afo.rad stoclC of tho
-, ~, til,,aI ST., poenino 90
M, -, F,,,,i.,1t -, II -
. ~
IN cont II IN him y few DAYS after
received it. was the exnlanation adj
t,oncod nv. air post
Mr. POST said that after the organiza- :
tio, of tho national supar REFINING
- tho board of directors issued 4s !.
zooaon ,rofar,od stocl, "a tol,o nm the
stock on which no held ontiops and
H., ;ss,,aa .bo s1oo oo ooh ,n,,,,,,o,,
stool, 10 t,i,,,sa1f
AhoIt two yaars after Mr. Post bad
turned the stock over to Mr.. Have.
never the latter gnye the former $500 oe
worth of the stock. according to the
testimony today. Witness said it was
for his serving as president of the Ma
tional without salary.
Mr. Post defended Mr.. Havemeyer
who died several years ago. He said
that witnesses who swore Havemeyel
knew of the customs frauds were Iy.
ing"
TIE committee on expenditures in the
treasury department began its work with
a view to connecting oficlals higher
up in the American Sugar Refining Co,
with the weighing frauds against the
government. for which employees oil the
corporation were convicted.
Oliver Splitter, the company's dock
superintendent. related to the commit
tee the whole history of the sugar
| weighing frauds describing dlshones'
weighing schemes employed on tlle SUI
ga. uooNs as la p"oN a. hooV, i as az, 'ho
lii.'eu 'i'a' ''e was 49,, 60 n,,. 80
a a'auu' anu 80 IL shan,
| IL -