The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-17
.OXVARD GIVES SOME
SUGAR DEAL FACTS
Tells of Battle With American
Refining Company Before
Selling Out.
Continued From Page One,

that he would leave IL 10 the re
fners - TO fight for the duty ON refined
sugar -.
''What will make sugar cheaper!
asked Chairman Hardwick.
''Leaving il alone until the beet su-
gar industry is able 70 compete with
the world. The advances in the in
dustrv have been rapid here and they
will 90 on. il YOU give the Industry
a chance
Had the Oxnards held "typst Ger
tifcates until today, the witness SAID,
the deal would have netted them $500
600 besides the dividends on the Ger
ti6cates. They sold the certificates
two wears after they received them for
$750000.
''We were rather glad to sell out. .
said Mr.. OXnard ''Cutthroat compe
tition existed IN those days and un-
less the beet sugar business turned out
as we thought il would it was a
little doubtful about our keeping 60
ing
The witness said the capitalization
of the Brooklyn factory was only
100000, but that the plant was worth
$1,000
Well Satisfied With Deal.
"You would have been satisfied to
get out what you had put into it,
wouldn I you?" inquired Chairman
Hardwick.
"Wel," was the response, eyes -
"On this little transaction you
cleaned up half million. Now. how
much water was in the other deals?
How much did Captain Thomas
nake?'
'FI do not know. We were probably
ral Not haD n ~ H.
ers."
swhy?''
"They wanted the name said Mr..
Oxnard "They really bought out the
Oxnard brothers.
He said he did not stay with the
"trust," but went abroad. and after
studying the beet sugar industry in
Europe, returned to America 10 en-
gage in that business in earnest op-
position to the ''trust.'
Mr.. Oxnard explained. that he and
his brothers, Robert, Benjamin and
James G., were interested in the
American Beet Sugar company. but at
present they owned only about 1000
shares of preferred and 500 to 1000
shares of common stock. Their largest
holdings, he added, were in the Lou
isiana cane sugar refinery, IN which
they had invested about S1,000,0o0.
First in the Field.
''There had been a big tariff on
sugar for twenty-five or thirty years, "
explained Mr. Oxnard ''I thought it
would be profitable and patriotic to
introduce the beet sugar business into
this country
The witness said the American Beet
Sugar company had never had any
connection with the American Sugar
Refining company, except a contract in
1902, under which the latter became
the "selling agency of the former.
fDidn't it say where your sugar
was TO be sold!' inquired Chairman
Hardwick.
"No," replied Mr. Oxnard. "There
was provision that ii was to be sold
everywhere except in New England.
Chow about this phase of the con-
tract and Mr.. -Hardwick read from
an alleged copy of the contract the fol-
lowing:
"Care being taken by us american
Beet Sugar company, except when
necessary, 20 avoid your markets. -
"Well. that was written in there by
the lawyers. They said that il was not
against the Sherman antitrust law. AS
a matter of fact. IT never amounted to
anything, for we sold where we wanted
to.
''Why did you make it?'
War Of Sugar Companies.
"Wel. there was that war OF sugar
companies once and then we wanted