The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-21
Young Havemeyer Up
holds Every Action
Of Sugar King. L
TELLS OF PLANS
TO FlGH Z 'fEUS /
Declares First Combination Was
Formed From Philanthropic
Motives and to Preserve
Properties Which Were
Practically Busted"
Subpoena for Smith.

Washington. June 2o.--The con-
soiidasion of the National. the New
York and the fonkers Refining Com
panies Into the National Sugar Rein
Ing Company, of New Jersey. was eff
fected by the late President Henry o.
Havemeyer. of the American Sugar Re-
timing Company. ID IAN act OF philan-
throphy" according to his son. Horace
Havemeyer, who testified to-day be-
fore the House special committee on
the investigation of the so-called sugar
trust affairs. Mr.. Havemeycr. who Viii
continue his story of sugar corpora
ton coups tomorrow, said that his
tather saw that the three companies
We're practically busted; that they
were about on tieir last legs" and
he saw himself in a position where
he could either bust up ali these Eel
lows or take them all in, and he took
mem all In The witness said that
his fathers purpose in this combina-
ZION was to preserve the properties and
their stockholders. and make their
opera tions a success
Il got that evidence from nv aunt.
MIS- S. T. Peters. VINO was very close
associate Of his. and about the only
person 10 whom he talked. except my
mother, In regard to business matters -
The witness said he thought his
tatner's original intention was to sell
this Slo.o00.0o0 National common stock
10 the American, making It a part of
the American, but ne was advised by
John d. Johnson. of Philadelphia, that
II was not only improper, but pos
sibly illegal"
Mr. Havemeyer said that he did not
think his father went in and out of
the sugar market.
Makes Frnnk Witness.
With all the frankness of youth,
Horace Havemeyer. the twenty tive-
year-old son of the late sugar king.
told Of his plans to night the SO called
trust that his father built up. Ac-
eordingly. the young sugar :aan de-
fended every action of his father. and
scored those who to-day worl5 con
denim him.
In brief the plan of Mr. Havemeyer
is TO procure from the courts the
right to vote the s10.0oo,oo0 worth OF
common stock in the National Sugar
Refining Company now In the name
of James II. Post. buy enough Of the
preferred stock of that company to
make majority interest, and then
manage the company in opposition to
the American Sugar Refining Company
Il want TO make a career for my
self" declared the young millionaire
Il have no interest In the American
Company and no sympathy with those
who are running II now"
Then he went over many matters in
the record of his father. defending
his action always. and now and then
expressing his idea that combina-
ton of commercial concerns was a
good thing" and that the Industrial
advancement of the United States was
due to trusts
Philnnthropic Motives
Mr.. Hayemeyer declared il as his
belief that his father acted from phi
lanthropic motives In organizing the
drst suga. combination in 1887
He told my aunt" he said, that
the companies would either go busted
or be taken Into a combina ton"
The reason his father sold his hold
inEs in the American Sugar Refining
Company when he was president, the
son said. was because he did not want
any one to say he was managing the
American for his personal benefit.
Havemcyer said his mother told him
this was his fathers idea
about the only person father talked
affairs with was my mother or my
aunt Once a mani think his name
was White-said father was managing
the company for his personal beneht
1t made him SO sick he decided to
get rid OF his stock. He did get $780,
600 salary as president. but he was
the only man that ever succeeded in
running the American, and they
haven't had one like him since"
MIR Havemeyer declared the com
bination of three companies into the
National Sugar Refining Company had
the effect of increasing trade.
And decreasing competition" sug-
gested Chairman Hardwick.
I NO" corrected Mr. Havemeyer, "the
production of the National has been
100 per cent. greater than that of
the three separate companies"
Able to Compete Harder.
'Oh, Will admit that competition
was reduced" added the witness a
moment later. but through the Ma
tional, these properties were put upon
harder with outside companies"
Representative Sulzer suggested that
IL the witness gained control of the
National he might want to combine
with the American.
III 30. want to have say about my
own affairs. and IL did that 1 know
I could not" was the reply.
Mr. Hayemeyer's examination Will
be continued Tomorrow. 81
The subpoena of the House wa. to-
day sent to the United States marshal
at Salt lake City to be served on Jo-
eeph F. Smith. head OF the Mormon
Church. requiring his presence before
the committee. ,a,S
Many Killed in Election Riot.