The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-13
HEAD Of SUGAR
COMPANY PUTS
IN STATEMENT
Endeavors to Show the Re-
lations Existing Between
American and Various
Beet Sugar Plants.
GIVES HAVEMEYER
A BAD REPUTATION
Counsel Intellectually Tries
to Prevent Inquiry as TO
Attempts to Acquire
Rival Concern.

VAT ASHINGTON. June l2-The
NM house committee of investi.
sugar trust affairs today re-
CURED Acting President Edwin +. At
Rms Of the American Sugar Refining
company 10 answer questions regarding
its attempts 90 acquire the Pennsylva
MA Sugar Refining company ut Phil
adelphia. Counsel James H. Beck.
for the company, Intellectually ap.
pealed to the committee not to go into
this matter on the ground that the
former Officers of The company are
awaiting trial in November on
charge of conspiracy to acquire the
Pennsylvania property and that their
interests would be pre- judiced if the
committee pre;udged the case.
Chairman Hardwiok and the com.
mlttee ovcrruled the objection. saving
the committee was directed TO investi.
gaze every phase of the company op-
Grafton and that there was no intention
of prejudging the case.
Mr.. Atkins testified he had no di-
rect knowledge regarding the Penn
sylvania transaction which, he said.
was negotiated under the presidency of
Henry O. Havemeyer. He said he pro
tested years ago to Mr.. Havemeyer
against the policy of the company in
acquiring beet sugar plants. The
company officials point out that the
company has undergone n thorough
change of management and of policy
since the Havemeyer regime.
Beet Sugar Industry.
Discussing the relations between the
company and the beet sugar interests,
Mr.. Atkins said:
'' asked Mr.. Havemeyer if it was
to be his policy to build up the beet
sugar industry AT the expense of the
cane sugar refining industry. His an
swer was evasive and l 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
foresaw in the western field a beet
become a formidable competitor of the
American company, and, as an inves-
tor, he did not think 1t good propo
sitiou to aid rival enterprise to a
position where 1t would have an I'M
portaut effect upon the business of
the industry IN which he was finan
cially interested
MT. ATKINS stated tndt ne ulQ not
know at the time he talked to Mr.,
Havemeyer that the former head of
the sugar trust had already invested
in the western beet sugar concerns.
Thousands Of Stockholders.
Mr.. Atkins testified that the Ameri-
can Sugar Refining company's stock is
scattered all over the globe, with 49,
359 stockholders in November, 1910.
The average individual holding of stock
was said to be less than fifty shares
ard more than $500 shareholders own
ten shares or under
Mr. Atkins submitted statement to
show that during 1910 the company
slightly more than 42
per cent of the total consumption of
sugar in the United States. while the
beet sugar company manufactured Il
per cent. or the twenty-One cane
sugar refineries In the United States,
the refining company owns seven di
rectly or through subsidiary companies
and has n stock interest, less than
majority, in four. Of the sixtyeight
factories which produce beet sugar, the
American company rs interested
through stock ownership in thirty
three.
"While in 1907 the statement said.
the American refined about 6T.S per