The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1911-06-13
NO ATTEMPT
To CONTROL
SUGAR TRADE
President Of So-Ca|Ied Trust
Explains Organizations
Expansion Policy

Washington. June iS-The hous
committee OF investigation into tn
sugar trust affairs Monday requIr
cd Acting President Edwin r. Atkins
Of the American Sugar Refining com
pany, 10 answer questions regarding
us attempts to acquire tho pemnsyl
Yania Sugar Refining company a
Philadelphia Counsel james III Becl
fog the company. Intellectually appeal
ed TO the committee not TO 20 into
this matter on the ground that form
er officers of the company are await
ing trial in November on a charge ol
conspiracy TO acquire the Pennsyl
vania property and that their inter
ests would be preiudiced IL the com
hlttce judged the case.
Chairman Hardwick aud the com
mittee oyerruled this objection. say
ing the COMMITTEES was directed to in
vestigate every phase Of the com.
pany's operation.
Ore OF HavemeYer's Deals
Mr. Atkins testified he mad no IL
rect knowledge regarding the PennsYl
yania transaction. which. he said,
Wis negotiated under the presidency
OF Henry O, Havemeyer. He sad he
protested years ago TO Mr. Hayemey-
er against the eoBpany's policy OF ac-
Qgiring 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 the relations between
| tue company and the beet sugar in.
| terests Mr. Atkins said;
4 asked Mr. Havemeyer II II was
10 be his policy to build up the beet
sugar industry al the expense of the
cane sngar refining industry. His
answer was evasive aud / told him
that If that was to be his policy /
would sell my stock IN the American
Refining company subsequently
did sell considerable OF my stock"
Asked why he was opposed to the
company extending into the beet su.
car field Mr. Atkins declared he fore
saw in the Western field beet su.
gar industry growing which would
become formidable competitor OF
the American company, and, as an in
'estor, he did not think it a good
proposition to aid a rival
Stock Scattered over Globe
Mr. Atkins testified tnat the Amer
ican Sugar Refining companys stock
Is scattered all over the globe, with
1883 stockholders IN November,
1910.
Mr. Atkins submitted statement
to show that during 1910 the com
pany manufactured slightly more
tlan AZ per cent OF the total consump-
ton Of sugar in the United States,
while the beet sugar companies man
factured IA per cent, or the u cane
sugar re6neries Ia the United States
the refining company owns seven di-
rectly or through subsidiary compan-
nes, and has stock interest. less
than majority, Ia four, OF The 68
factories which produce beet sugar
the American company is interested
through stock ownership in &c.
While in 1900" the statement
said, the American refined about
672 per cent Of the sugar consumed
n the United States in 1909 it re-
fined only A3I4 per cent, and in 1910
only l9,l4 ner cent.
The statement referred to the gov
efrment litigation against the com
pdny
In the bill brought by the govern
ment to dissolve the company it
read. no act of any officer of the
company since January !, 1908, is
even alleged as being restraint OF
trade Many OF the ayerments in the
governments bill arc either inaceur'
ate or have reference to transactions
ended prior to January /, 1908, or
adiudgcd as lawful in the proceed
ings brought In 1892 by the govern
ment against this company IN which
the United States supreme court sus'
tanned the legality of the company as
then constituted
Has Expanded It's euolness
Since this decision Of the SUI
pieme court. the company has, in eS-
panding the produchcn Of sugar and
promoting commerce therein acauir-
ed stock in various beet sugar com
panies.
THE company has reasonable
confidence that the validity Of these
holdings Viii be sustained as IN ex.
pansion rather than In restriction Of
tiade These holdings have. however
been reduced in the last three years
by sales from time to time and With
two uuimportant exceptions the com
pany has only a minority Interest lnI
any of the beet sugar companies q
Which reference /. made, All OF
taese companies have independent
boards OF directors und are In no rel