Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1911-06-12
THOROUGH INVESTIGATION OF
GREAT BUSINESS OF coUN.
TRY PROPOSED.
AMERICAN CONCERN OFFICIAL
ADMITS AIMS OF MERGER
says Consolidation Of Weak Companies
Had Effect Of Avoiding Some Com
petition-Seventeen Refiners Join in
Merger Prom oted by n. o. Have

Washington, June 12-So carefully
guarded were the operations Of the
American Sugar Refining Company, up
to less than two years ago, e. F. At
kius, vice president and acting head Of
the corporation, told the house sugar
trust investigating committee today.
that stockholders were accorded no
information as to how the company
was being conducted.
AS conditions changed, the witness
said. the New England stockholders
combined and obtained control When
they did SO, in 1910, they discovered, to
their establishment, that H. o. Have
meyer. the presiding genius Of the or
ganization, had maintained his supre-
macy with only 1000 shares Of stock.
The holdings of Mr.. Havemeyer. at
the time Of his death. said Atkins,
were valued at about 100000, Of to-
tai of $90.0OO,O00 in the American
Sugar Refining Company.
Mr. Atkins said the New England
interests obtained their control after a
committee discovered, from an exami-
nation, that Of the stockholders of the
American Sugar Refining Company, 63
per cent were New Englanders.
1--WE found that there were $4,000
New England owners, and 10000 Of
these were women" said Mr.. Atkins.
He explained how control for the
New England holders was secured by
his election. and the election of Sam
uel Carr, Charles II. Allen, W. B.
Thomas, and Edward Marston, all of
whom now represent that majority Of
the stockholders known as the New
England syndicate.
Washington. June 12.-The house
inquiry into the sugar business Of the
country conducted by a special COM
mittee formally began today. Wit
nesses Of the leading sugar refineries
in the east had been summoned to ap-
pear before the committee and will be
followed by those interested in otehr
lines Of the sugar business. The COM
mittee has announced its purpose to
make one of the most thorough inves-
gations ever conducted or great
business by congress.
Representative Hardwtck, OF Geor-
giau is chairman Of the committee and
the examination Of witnesses.
American Company First.
The committee first took up the
American Sugar Refining Company. to
determine whether the corporation IS
operat ting in violation Of the antitrust
or interstate commerce law.
James M. Beck, formerly assistant
attorney general, appeared today as
counsel for the refining company, and
Edward F. Atkins. Of Boston, vice
president and acting president OF the
American Sugar Refining Company,
was the first witness examined.
Mr.. Atkins said the purpose of the
formation of the American Sugar Re-
f1ning Company, in 1887. was to put on
their feet q number Of sugar refiner-
les that had been operating at loss.
He said the companies had been work.
ing without profit for number OF
wears. The cost of production OF re-
fined sugars had been so great, said
Mr.. Atkins, that it was believed a re-
union Of refineries would result IN
greatly reducing the expense.
Z Aimed to Avoid Composition.
did you expect, thru this means. to
avoid some Of the competition" said
Chairman Hardwick.
''wen, suppose it had some effect
Of that kind"
The witness said that seventeen re-
fneries Joined in this merger in 1897
which was arranged by II. o. Have
meyer. Almost all Of them, he said,
had been doing business at an excess
i've cost. and they were scattered thru
out New York. New Jersey, Massa-
chusetts, Maine, Pennsylvania, Louis
lana, and Missouri. He was unable to
say what percentage Of the refined
sugar production they controlled.