Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1911-07-01
QUIZ NORhONHEAD
Joseph f. Smith Tells Of
Church S Sugar interests.
WAIVED llAvEMEYfR CASH
Declares Combination the Greatest
Blessing Ever Enjoyed by the
People of Utah and
30
Idaho.

Washington, June 28.---The nara
tive OF the alliance of the Mormon
church and the Henry o. Havemeye
interests in the beet sugar business
was told and the deal characterized al
entirely legal by Joseph f. Smith
president of the Mormon church ant
OF the Utah-Idaho Sugar company, be
fore the house sugar" investigating
committee.
He was accompanied to the hearing
room by Senator Reed Smoot, Bishop
G. N. Nibley, business manager of the
Mormon church; Thomas F. Cutler, G
former bishop of the church, and Rep
resentative Joseph Howell. With the
party was also R. w. Young, of Sail
Lake City, counsel for the representa-
tives of the Mormon hierarchy. Won
en- were not in evidence at the sugar
trust" hearings till the Mormon leader
was called to the stand Then curiosity
brought them out in full force.
The head of the church explained
how Mormon affairs are conducted
how its funds come principally from
the tithes of its people, how they are
Systematically accounted for. He as
serted that the interests of the Nor
mon people are safeguardeG at all
times.
Mr.. Smith testified that it was not
the general practice of the church to
make business investments, that the
sugar business was its largest invest
ment, and that was entered upon to
nelp the Mormon people. He emphati-
cally denied that the church had any
stock in the American Sugar Refining
company.
why haven't you folks bought out
the Havemeyer interests?" asked Rep
resentative Raker, of California. 1--WE
haven't the money"
"You knew Havemeyer was very
powerful man in the business world
and you were glad to get him inter
ested in your business, weren't you?
I'VE were only interested in getting
his money"
Have you any official connection
with the Utah-Idaho Sugar company"
asked Mr.. Hardwick. II am president
of the company" replied Mr.. Smith.
do you own any stock?" Yes, sir;
l own about 5000 shares individually"
do you own any stock in q repre-
sentative capacity?" Yes; / hold
49,S15 shares for the church. The title
is held in the name OF Joseph f.
Smith. trustee"
How Mormon Church Got In.
Mr.. Smith said the church became
interested In the Utah Sugar company
when many people who subscribed
failed to pay for the stock, and the
company, under bond to complete a
beet sugar factory, was unable to do
it. The church was appealed to by. the
stockholders to assist. which 1t did, to
the extent of $4,000.
Does the ah-Idaho company pay
dividends?" Yes; seven per cent"
How is that dividend used by the
church," ''In promoting its religious
interests"
He seemed to know little of the
Havemeyer proposition. It was nego-
tiated. he thought, by Thomas r. Cut
Ter. a Mormon and manager of the
Utah-Idaho company.
Mr. Smith could give no figures as
to the cost per pound of beet sugar,
the cost of machinery and the number
Of acres in cultivation.
do you regard this combination as
being in restraint of trader" 81 regard
1t as being extension of trade. 1t has
enhanced the value of our farms; it
has made possible the cheaper pro-
duction of beets. and 1t has proved one
of the greatest blessings ever visited
upon Utah and Idaho. I do not think
that the combine has increased the
price of sugar to the consumer one
bit"
Mr. Smith volunteered the informa-
ton that the church had borrowed
money to help out the Utah Sugar
company. THE church had bonded
Indebtedness then of 100000 he
said. "but we borrowed more to help
out the sugar industry, that had not
up to that time been successful"
How was the money borrowed?'
by the church through me as trus-
tee"
Didn't the secretary of the Utah
Idaho company often write to Have
meyer at your direction?" asked Mr..
Raker. Never" said Mr.. Smith. ~
don't think | ever had but one letter
from Henry Havemeyer In my life."