Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1911-06-20
House Inquiry Into Formation
Of American Sugar Refining
Company Is SCorChing and
Learns Things,
'OST DEFENDS TRUST
AND H. V. HAVEMYER
iavemyer, Post Declares,
Never Suppressed Competi-
ton; Post Received $780,
900 Worth of Stock In Com
DanY,
b. Morning journal special Leased Wire,

By iloruing journal Special Leased wirel
Washington, ID. c.. June 19.-This
e fieli day in the house in inquiry
no the American Sugar refining
Impany and other reflneries. two
Iomnttees deyoteing hours to intero-
atlng witnesses as to the formation
4 nd operations Of the big corporat-
: I A number Of new facts We're
| Brought out. bearing on the sudden
Itaton Of wealth by combinations of
knutacturing concerns and more
rs learned Of the frauds practiced
b the government in sugar weighing
| TIE port of New York
The special sugar trust" inyesti-
.nmg committee had before it
ames H. Post. president of the Ne
cnal sugar refining company of
kew JERSEY. whose testimony clcse6
j jth spirited defense of the corpor-
I ION activities of the late VI O.
fyemeyer, or ganizer of the Ameri-
in COMPANY.
| The house committee on eXpendl-
jps in the treasury department
|Hsdoned Oliver splitter, former
)uck superintendent of the corpora
In with a view Of discovering the
5Huty OF the men higher up in
De pret lration of the frauds.
Mr. Post WAS subject to q long and
tueng examination ps 70 bis and
hasemaytrs connection With The
|rmation Of the National company
|spresentative Madison of the COM
tliee complained that whenever
b committee had gotten down to
|methlne witnesses frequently
Ihrfw 1t OFT on to Havemeyer, "
|7s memory has been traducod by
|n WHO would not have dared to do
hqd he been alive" said Mr.. Post,
eyes flaming.
The defense was made after the
fness he'd told of the issuance TO
iNeneyer through Post of the $iO,-
/ Q000 Of the common stock of the
|atonal Sugar Refining company
ihOnt money consideration.
| Their are something's | cannot ex-
iln' declared Mr. Post, "but ]
ge such confidence in Mr.. Have
ger that / know he would explain
|tTthing If he were here"
representative Madison referred to
ie testimony given by Vice Presi-
i mt Atkins of the American Sugar
Idlning company and Lowell NJ.
|amer had testified that Mir. Have
|eyt had organized the beet sugar
lnefies, and while Palmer was on
4 directorate he did not have any
nr 10 do with it.
What idea have you Of strong
/ He man, as Mr.. Palmer is, who VIII
|y that, exclaimed Mr.. Post, great
\ excited. He is q coward
Mr Larkins, counsel to the witness,
Eueled the situation by objeeting to
|F me OF investigation as beyond
[t iQthority of the committee. Chair
|an i1ardwick disagreed, but the eX-
|ulnation was not pressed further
Pong this line.
As president of twenty million
Lyuaf sugar company Ior eleven years
|"hVut ever having received penny
salary WIS the light in which Mir.
Ky lppedred at the beginning OF
~ AFTERNOON session.
representative Baker of California
lpfessed surprise at the luck of the
Faucnal Sugar Refining company IN
Ie'hg president without salary.
rs questiOns led the witness to re-
lal That II. O. HlVemeyer. about
[Vz gave him 100000 of the com
I@ stock of the National because
never received salary as president
al "a. a III
son 4 comnany got a commission
ohe-half of one per cent for hand
'ug the business of the National
WIS amounted to about s22O,000 a
|elL As one of the three partners
4 X H. Howell Son & company Mr.,
IoA said he received $4,000 to $780,
''O out of this 100000.
heplying to rapid fire of ques
l'N nom Representative SulZer Mr.,
I"ugh controlling the American
|ssr Refining company. through
n brains and high ability" and al
I"ough interested in the National
'3T Refining company never sup
''gssed used competition between them.
lhore was never any concert in the
lMsemcnt of the two companies
'u Mr.. Post. strange as 1t may
VIM that is true
Hi2er.
You'll have to ask the directors
NJ Snlzer then took another line
Examination.
lou would have sold sugar much
sspsr II YOU had not watered youi
k he inquired.
~ Post objected TO the use of the
E%d ''watered." but to the question
~ Because the economies prac-
og,l. ei the company have more than
~ the dividends on the stock"
in ''r Post. have you made any ef
s,oo,nm, get back these S10,000.000 oi
u, inquired Representative SUI
I'M reIerrlne again to the stock
lon NEVER obtained by the organiza-
Inm p the National Sugar Refining
len,p OF which Mr. Post is presi'
.aefe was no reason why |
"' rejoined Mr.. Post.