The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1911-06-15
CALLS FOR FACTS.
Committee Probing Pennsylvania
Company Deal.

company Deal.
Washington, June 12.-Ruling
that the facts regarding which for
mer officers of the American Sugar
Refining company, including For
mer Secretary G. R. He'll, who are
under Indictment and awaiting trial,
are essential to the inquiry, the house
committee investigate the sugar
trust to-day requested E. F. Atkins,
acting president, of the company, to
answer questions regarding its at
tempts to acquire the Pennsylvania
Sugar Refining company at Philadel-
phia. James NJ. Beck, counsel for the
company, Intellectually appealed to
the committee not to go into the mat
ter, on the ground that former Of
ficers of the company are awaiting
trial in November on a charge of con-
spiracy to acquire the Pennsylvania
property and that their interests
would be prejudiced if the committee
prejudged the case.
To Uncover Everything.
Chairman Harwick and the COM
mittee overruled this objection, say
ing the committee was directed to
investigate every phase of the COM
pany's operation, adding there was
no intention of prejudging the case.
Mr.. Atkins testified he had no di-
rect knowledge regarding the Penn
sylvania transaction, which he said
was negotiated under the presidency
OF. Henry o. Havemeyer. He said he
protested years ago to Mr.. Have
meyer against the policy of the COM
pany in acquiring beet sugar plants.
The company officials point out that
the company has undergone a thor
ough change of management and of
policy since the Havemeyer regime.
Discussing the relations between
the company and the beet sugar in
LereStS, MT. ACkluS Sdiu.
Offered to Quit.
II asked Mr.. Havemeyer if it was
to be his policy to build up the beet
sugar industry at the expense of the
cane sugar refining industry. His
answer was evasive, and I told him if
that was to be his policy, I would sell
my stock in the American Sugar Re-
fning company. subsequently did
sell considerable of my stock"
Asked if he was opposed to the
company extending into the beet
sugar field, Mr.. Atkins declared it
was simply his opinion as business
man, interested in cane sugar invest
,ment. He foresaw in the Western
field a beet sugar industry, which
would become formidable competi-
tor of the American company, and as
an investor he did not think it good
proposition to aid a rival enterprise.
Mr.. Atkins submitted a statement
to show that during 1910 the COM
pany manufactured slightly more
than AZ per cent. of the total con-
sumption of sugar in the United
States, while the beet sugar COM
panies manufactured IA per cent. Of
the 21 cane sugar refineries in the
United States, the refining company
owns seven directly, or through sub
sidiary companies, and has stock
interest greater than majority in
four. OF the 63 factories which pro-
duced beet sugar, the American COM
pany is interested through stock
ownership in 33.
Interested in Beets.
The statement referred to the fact
that the company had in expanding
the production of sugar and pro-
noting commerce therein, acquired
stocks in various beet sugar COM
panies, and added:
1.-THE company has a reasonable
confidence that the validity Of these
holdings will be sustained as in ex-
pansion rather than in restriction of
trade. These holdings have, how
ever, been steadily reduced in the
last three years by sales from time to
time, and with two unimportant ex-
ceptions the company has only a mi
nority interest in any of the beet
sugar companies to which reference
is made. All of these beet sugar
companies have independent boards
of directors and are in no respect
controlled by the American Sugar
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