Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-07-21
AGAINST j. s. PROBE
Mr.. Parsons Opposes Inquiry
Into Corporations.
PUBLICITY is CONDEMNED
Tells Sugar Trust Investigators
Wrongs Right Themselves.
SCOUTS CHARGE OF MONOPOLY
Former Secretary Heike Declares
Ignorance of Resolution Referring
to Political Parties.

| NEW YORK, July 21.-"All such
wrongs right themselves" was the re-
assurance John E. Parsons gave the
sugar trust investigators today, when
they asked him how to curb the big
corporations. When the former attorney
| of the American Sugar Refining Com
pany took the stand again, Represent
ative Asher c. Kinds inquired:
las probably the worlds most eminent
| expert on these matters, what would
you suggest that sovereign govern
ment can do to prevent these great COM
binations of capital from the extrava-
| gances they have exhibited in the past?"
My theory is, and 1t is supported by
| the greatest economic writer's, that all
such wrongs right themselves" replied
Mr.. Parsons. IF there is too much
water in the stock that will take care
Of itself. The government cannot in
equity interfere in private affairs. There
should be no limit to capitalization so
long as it is not injurious or fraudu-
lent"
the formation of the American trust"
said Mr.. Parsons in answer to another
question. Il am very proud Of it,
At the start Of the congressional inves-
tiSdliOLl tOudS. SHdTleS II. f1elkS, former
secretary of the American Sugar Refining
Company. declared his ignorance of the
mysterious resolution passed by the board
| of directors in which H. o. Havemeyer
said the company should take action rela-
tive to Injurious litigation and hurtful
| legislation and appeals fromeach Of the
political parties"
Did Not Get Records.
Heike said that the late John E. SearIes
was the secretary and did not turn over
to him records of the ACTION taken on that
resolution.
Mr. Parsons opposed a federal incor-
poration law for local corporations, al
though he said such a law might be bene
hclal for public service corporations He
opposed the law which permits the gov
eminent to examine the books question
the officers and obtain the secrets of a
corporation.
Il strongly condemn the modern theory
Of publicity of corporation affairs" he
said. 1T is unjust to the American citi-
zen that he should be compelled to make
his private affairs public
| In reply to questions by Mr.. Sulzer, Mr..
Parsons repudiated the many statements
| which have been made that H. o. Have
meyer was the one power In the sugar
| trust, and that the board Of directors al
ways did as he babe.
| Il know personally that Mr.. Havemeyer
consulted the board in important matters.
different memebsr frequently differed
with him. They discussed the matters.
Sometimes Mr.. Havemeyer yielded; at
other times the members yielded
| Is Not q Trust.
Mr.. Parsons insisted that the American
Sugar Refining Company is not q trust
similar to the Standard Oil and the
American Tobacco. He secuted the idea
| that it was a monopoly There is no
| such thing as a monopoly possible" he
| said.
Representative Madison read into the
record that after the American had alb
sorbed the Philadelphia refineries there
were three independent refneries in New
York.
who organized those three ref1neries
into the National Refinery Company?'
"Mr. Havemeyer planned it. l believe"
"And he was then president Of the
Americana
Yes"