The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-13
Policy and NJ anagement
Of Sugar Trust Are
Different Now.
THIS STORY TOLD
10 co M M | T T E.E
Plea of Counsel Of Trust That
Former Officials Are Await
ing Trial Is Disregarded
by Congressional Probers,
Who Demand All
the Facts.

Washington. Juno I2.-Ruling that
the facts regarding which former Of
ilcers Of the American Sugar Refining
Company. including former Secretary
Charles r. Heike, who are under in
dictment and awaiting trial, are es-
sential to the inquiry. the House com
mittee OF investigation Into the so
called sugar trust affairs, to-day re-
quired acting President Edwin F. At
kins, of the company, to answer ques-
tons regarding It's attempts to ac-
quire the Pennsylvania Sugar Refining
Company, at Philadelphia. Counse
James NJ Beck. for the company In
efectually appealed to the committee
not to go into this matter on the
ground that former officers of the
company are awaiting trial In Novem-
Der on charge of conspiracy to ac-
quire the Pennsylvania property. and
that their interests would be preju-
diced II the committee prejudged tho
case.
Chairman Hardwick and the com
mittee overruled this objection. say
ing the committee was directed TO in
restigate every phase of the com
pany's operation, adding that there
was no intention of prejudging the
case.
Protested TO Hnvemeyer.
MIR. Atkins testified that he had no
direct knowledge regarding the Penn
sylvania transaction. which, he said,
was negotiated under the presidency
OF Henry o. Havemeyer. He said he
protested years ago to Mr.. Havemeyer
against the policy of the company ac-
During beet-sugar plants The COM
pany officials point out that the COM
pany has undergone thorough
change OF management and of policy
since the Havemeyer regime.
Discussing no haf
the company and the beet-sugar in
terests, Mr.. Atkins said:
Il asked Mr.. Havemeyer II 1t was to
be. his policy to build up the beet SUI
gar industry at the expense of the cane
sugar refining company His answer
was evasive. and told him that If that
was to be his policy, l would sell my
stock in the American sugar Refining
Company. I subsequently did sell con-.
sidera BILE OF my stock"
Asked why. he was opposed to the
company extending into the beet sugar
field. Mr.. Atkins declared he foresaw in
the Western field beet sugar indus
try growing which would become a
formidable competitor of the American
company. and, as an investor. he did
no think It good proposition 10 aid
rival enterprise to position where
1t would have important effect upon
the business of the industry In which
he was financially interested. Mr. Adj
kins stated that he did not know a
the time he talked to Mr.. Havmeyer
/, that the former head of the sugar
trust had already invested in Western
beet sugar concerns.
Mr.. Adkins testified to-day that the
American 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 fifty
shares, and more than $500 sharehold
ers own ten shares or under,
submits Statement.
Mr.. Adkins submitted a ste tement
which, among other things, discussed
the government litigation against the
Company saying:
In the bill brought BY the govern
ment to dissolve the company, no act
OF any officer of the company since
January l. 1905, Is even alleged as be-
ing in restraint of trade. Many of tho
averments in the governments bin arc
either inaccurate or have reference to
transactions ended prior TO January /,
1905, or adjudged as lawful in the pro-
ceedings brought in 1892 by the gov
eminent against this company. in
which the United States Supreme Court
sustained the legality OF the company
as then constituted.
Since this decision of the Supreme
Court the company has. in expanding
the production of sugar and promoting
commerce therein. acquired stocks in
various beet sugar companies.
The company has a reasonable con-
i fidencc that the validity OF these hold
, ings will be sustained as In expansion
rather than in restriction of trade
The statement sets forth that the
stockholders OF the American Sugar
Company include executors. guardians,
churches Christian organizations,
banks, mortgage and Investment com
hnsnifniS ic