The free lance. (Fredericksburg, Va.) 1885-1926, 1911-07-04
PANIC IN MADRID WAS CO.BETWEEN
David StetSOn Represented
Trust in Sugar Deal.
EARLE MAKES HIM TIRED
Cousin Of Sugar Magnate Says he
Was the Only Man Who
Gained by Segal Re-
hnery Zeal.

Washington, July david s. Stet
son, OF Philadelphia. a cousin OF Wash
lngton Il. Thomas. OF the American
Sugar Refining company. told the
house sugar trust investigating com
mlttee that In 1903 he conducted nego
,lations with Adolph Segal. OF Phlla'
delphla, for the purchase Of the Penn
sylvanla Sugar Refining company BY
The sugar trust.
segal's Dealing With Trust
The testimony OF Mr.. Stetson was
in rebuttal to that OF Adolph Segal.
MIR Segal testified that he had no
recollection Of Stetson, though the
later had told him recently that he
had conferred with him in the Manu-
iacturers club at Philadelphia.
Il talked to Mr.. Segal at the club
at his instance regarding the sale oil
the Pennsylvania refinery to the
American Sugar Refining company,
said Stetson. Mr. Stetson said Mr..
Segal told him how he happened to
sell Camden refinery to the Ameri'
can company.
Mr.. Stetson said he wrote to Mr.
Thomas that he thought Mr. Segal was
about busted and would sell, and es'
limated the cost OF the refinery at be
tween sl,SOO,OO0 and 100000.
Philadelphia friends told him. he
said, that the Real Estate Trust com
pany was on the bonds Of the Penn
sylyania refinery and was In danger OF
going TO the wall.
This kept within my own bosom,
said the witness, who added that he
reported all but this TO Mr. Thomas.
The witness said his letters to Mr..
Thomas were forwarded to II. o.
Hayemeyer. He added that he de-
clined segal's offer to give him $4,000
II he would sell the Pennsylvania re-
hnery TO Mr.. Hayemeyer.
Il made up my mind then" said Mr..
Stetson. III | couldn't make a good
commission I'D block the game. In.
formed Mr.. Thomas Of the dangerous
financial condition OF Mr.. Segal, and
that il the American company would
hold on they could get the Pennsyl-
yanla refinery for a song"
Witness said George II. Frazier, a
director Of the American company,
advised him to send the correspond
ence to Mr.. Thomas Once Mr.. Thorn
as sent an agent from Boston to get
from him some correspondence he had
failed TO forward.
Did Mr.. Frazier ever say to you
that II these letters should fall into
the governments hands II might be
evidence to establish conspiracy In re-
straint OF trade?" asked Mr.. Hard
wick. chairman OF the probers. Mr..
Frazier appeared very much excited,
but | don't remember that he said
anything like that"
Earle Made Him Tired.
Mr.. Stetson said George II. Earle,
Jr., was the only man who made any
thing out OF the deal. Earle" he
added, wouldn't do anything unless he
was we'll paid for IT, lie makes me
tired"
Mr.. Stetson said he did not receive
a cent for turning over the letters.
Mr.. Frazier was not that kind OF
man" he said. The letters he did not
regard as discriminating and he turn
ed them over to help Mr.. Thomas In
his defense because he was my kins-
man"
II was disclosed that Mr.. Thomas
now has not only the original letters.
but also the letter press copies OF the
between the Ameri-
can Sugar Refining company and Stet'
son.
did you think these letters might
aid the governments case against the
officials OF the American Sugar Rein
ing company" mo, never thought
of It that way. only thought they
would help Mr.. Thomas"
Stetson took so many raps at Mr..
Earle that Mr.. Hardwick. the chair
man. interposed.
You ought not to critIcise a wit
ness who preceded you said Mr..
Hardwlck. why not. when Earle was
allowed to roast Theodore Roose-
velt?" asked Stetson. Il am a friend
OF Theodore Roosevelt and don't like
to hear him criticised.
Earle is regarded as a seeker ar.
ter the lIme-light in Philadelphia" he
added as a parting shot.
Thomas s. Fuller, counsel for the
American company. informed the COM
mIttee that Mr.. Thomas, now under In
dictment, would be willing to place the
correspondence before the committee.
The letters. said Mr.. Fuller. were
wanted by Thomas only to aid In his
defense and not that they might be