The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1911-06-13
ACTING HEAD OF AMERICAN
SUGAR REFINING COMPANY
HAD OPPOSED PRESIDENT.
REGARDING BEET SUGAR
Edwin r. Atkins Tells House Commit
tee That He Had Disagreed With
Late Head Of the Company as to Ac.
quring Beet Sugar Refining Busi.
ness--Furnished Competition.

Washington, June 12--Thc house
committee of investigation into the
so-culed sugar trust affairs today re-
CURED acting President Edwin t. At
klns Of the American Sugar Refining
company Ia answer questions regard
Ing It's attempts to acquire the Penn
sylvana Sugar Refining company at
Philadelphia. Counsel James H.
Beck. for the company. Intellectually
appealed 10 the committee not to 90
into this matter on the ground that
the former Officers of the company
are awaiting trial In November on n
charge OF conspiracy to acquire the
Pennsylvania property and that their
interests would he prejudieed If the
committee prejudiced the case.
Chairman Hardwick and the COM
mttee overruled this objection, saying
that the committee was directed to in
Nestigate every phase Of the companys
operations and that there was no In
tention of prejudicing the case.
Protested Years Ago.
Mr.. Atkins testified that he had no
direct knowledge regarding the Penn
sylrania transaction, which he said
was negotiated under the presidency
Of Henry o. Havemcyer. lie said he
protested years ago to Mr. Hevemcyer
against the policy OF the company in
acquiring beet sugar plants The
company officials point ont that the
company has undergone a thorough
change Of management and of policy
since the Hevemeyer regime.
Discussing the relations between the
company and the beet sugar interests,
Mrs. Atkins said:
Il asked Mr. Hayemeycr if II were
10 he his policy to build up the beet
sugar industry at the expense of the
cane sugar refining industry His an
swer was evasivs aud told him that
if that was to be his policy. would
sell my stock In the American Sugar
Refining company. ! subsequently did
sell considerable of my stock"
Asked why he was opposed To the
company extending Into the beet sugar
field. Mr.. Atkins declared that he fore
saw In the western field beet sugar
industry growing which would become
formidable competitor of the Amer
lean company and, as an investor. he
did not think II a good proposition
To aid rival enterprise to position
where 1t would have an important eff
feet upon the business of the industry
In which he was financially Interested.
Mr.. Atkins stated that he did not
know at the time he talked to Mr..
Havemeyer that the former head of
the sugar trust had already invested
In western. beet sugar concerns
Many Stockholders.
Mt. Atkins testified that the Amer
lean Beet Sugar Refining company's
stock Is scattered all over the globe.
with 1889 stockholders in November,
1910. The average individual holding
Of stock was said to be less than 80
shares and more than $500 sharehold-
ers own 10 shares or under
Mr.. Atkin submitted Il statement to
show that during 1910 the company
manufactured slightly more than AZ
per cent of the total consumption OF
sugar In the United States, while the
beet sugar companies manufactured
II per cent or the u cane sugar
retineres In the United states, the re-
flning company owns seven directly or
through subsidiary companies and has
stock interest. less than a majority,
In foEr, or the GS factories which
produce beet sugar. the American COM