Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1911-06-17
WITNESS TELLS
Of A FORTUNE
MADE IN SUGAR

up Half MllllonOVel NAs,'
by Sale; Evidence Intend
ed to Show WateredStock
washington, D. c., June 10 Hal, nan
r,ii,;or dollars profit was garnereu
~ tha oxnard brothers almost , orva
n;sh1 when they put their broonlyn Ltn
snsar s,em paf,nery valued at $20O'ooo into
.,.a nue .rgar crust" of 1887, accorolns u
- ~ the testimony of Henry 49,
n,rard ~ vice president OF ene
n :. s,ar,can Rect Sugar company, Delolo
tha house sugar trust" inves''sa' a'iAe -
comm1ttee aaa Tee Omar o1nards held their trust.
.rt,acate @ until today, the wlthess
Ssi5 +ha deal would have netteo tnvm .,a
eenn mn besides the DIVIDENDS on tne
sout,t,cates. soutlt They sold the certlncasos ses
Two wears after they received 'lenA ~
$750,0o0. .,.d +o sell out"
,s NJ nrnard. "Cut-throat compel.
.,nr % existed in those days ana untees 90
tha Meet sugar business turned oun ,..ae 90
ne thought 1t would, 1t was JILL
dn,,htful about our keeping golnH. 80
Tha witness said the capitanzatlono oo ~
+ha prooklyn factory was only NV
mo @ hut that the plant was WIZ -
100000. 80, satisfied to
s.+ ont what you had put lnto ~
wouldn't you?" inquired Cnair NO"
Hardwick. ,.s +ha re-
sponse. ~. .-,r.action you
.,.snad IN half million. NOW, now
,,.,,ch vater was in the other aeais ~,
tIow % much did Capt. Thomas make.
DT don't know. We were prooauls
treated little better tnan .n'
others"
..They wanted the name" SAID Ml.
o~rard aThey really bought out 'h7
oxnard Brothers.
s He said. he did not stay Mf'n .,taT ,.aT
....,,s+ ;. mt went abroad and aiter
.t,,dvinp the beet sugar Industry ~
1..,rcna ~ returned to America to engage
!, mat business In earnest oppositlon
to the "trust.
Takes up Beet Sugar Industry.
~ nxnard explained that he and
his brothers, Robert, Ben9amin' ~ a
lanes q. were interested IN tne Aine. eas
can Beet Sugar company, put AZ y ples ono
ant they owned only ABOUT Ao'ooo ooo
!. shares OF preferred and sou 70 l,oot
k.hares Of common stock. Inelr larsas
ISanoldinRs, he added, we're IN Loulsiana
.sne sugar refinery In which nney nao
;nvested about one million dollars.
4 There was q big tariff on sugar lot
Ok or 40 years" explained Mr. Oxhalu
~ thought it would be prohtaole anu
natriotic to introduce the oeet sugar
hnsiness into this country.
The witness said the American beet
sugar company had never nad any
connection with the American sugar
Refning company except q coh'lacs
~ 1oo2 nnder which the latter became
4 the "gelling agency" OF the former.
"How about this phrase IN the con-
tract and Mr.. Hardwick read from
an alleged copy Of the contract the
,"care being taken by us. (American
rect Sugar company except wnen
necessary to avoid your markets.
"Well. that was written In their by
LAWYER. They say it was not against
the sherman antitrust law. AS mat
FOR az fact. it never amounted to any
thing for we sold where we wanted,
to-"
says Trust Aided Beet Industry.
After a long discussion of the beet
sugar industry and the tariff on raw
ard refined sugar, Mr.. Oxnard asked
is be allowed to make statement.
.Ouite a little has been said about
the trust controlling the beet sugar
refineries" he said. "The trust does
not control all told more than 20 per
cent OF the beet sugar industry and
the beet sugar people compete with the
output Of the other sugar refining COM
Spanies. There is no such thing as
restraint OF trade between the beet
sugar people and the other people
4 Il think you should give the devil his
due. II the trust had not gone into the
beet sugar business In this country
ithe industry would not have advanced
las It has. It had the money and brains
and chests to put into the work.
] Oxnard said the American Beet
Sugar company was capitalized at $20,-
AOO0. 900 and that the value of its plants
was about $12,0O0.000. He could not
say why the capitalization was fixed
at $2o, 100000.
a