The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-04-18

would fail, for no one desires tn nam
per the fair business operations of the
sugar factories to reduce their profits
10 even ordinary profits, for We CON
slider that they should be more than
COMMONLY we'll paid. The contention
is that with the removal Of the sugar
duty. there would still be ample profit
left. in fact, greater profit than on the
ordinary business investments, and this
too on the basis of paving 50 ton to
the farmers for their eugar bccts.
Finally, the Smoot organ yokes the
sugar question up with the lead tariff,
which is precisely the same sort OF
tumble and ignorant or macilious sort
Of reasoning that the House OF Rep
rcscntatives INDUCED in when il Jumped
the lead and zine tariff with the iron
and steel schedule. The fact is, that
the two have nothing in common, for in
iron and steel the United States leads
| the world. takes contracts awav from
people all over the Garth aud is able
| not only To stand alone, but to beat
| the world in cheapncss of production
and Ingenuity of construction in all
gcthcr different with lead and zinc, for
in these we have competition in the
pcon labor Of Mexico, which can pro
ducc lead and pay the tariff of 11a
cents pound on the lead contents of
orc shipped to this country. and still
make profit in it, The reason is that
the Mexican labor is had at $12 to SIS
miner is paid from s3 to $4 per day |
for mining ores No conditions like |
this are presented in the matter of
iron or steel, nor in the matter of |
sugar. IT is simply question Of fair
adjustment all around, and there can
he no doubt but that with the aboli-
tion of the duty on sugar. there would |
still be left not only ample but unusual
profit to the beet sugar plants in all
this region. The contrary argument
assumes. and necessarily must assume,
the continuance of the inflated stock is-
sues of the consolidated sugar plants
here. and the enormous profits which
have heretofore been paid upon those
abnormal stock issues.
The Deseret News last light had its
leading editorial on substantially the
same lines as the Smoot organ in the
morning, misrepresenting The Trib.
upe's position according TO the usual
manner of the News, but nothing in it
is worthy of any attention.
The church organ quotes Mr.. Geo
gbegan as criticising the position of
The Tribune, and stating that Gas a
matter of fact, stock issues have moth
ing whatever to do with the case in
question. It is simply a question of
cost Of production and Of prices at
which we can market our product, -
this In connection with the statement
that the Amalgamated Sugar Company
dividend is SIX per cent, "aDd no
greater dividend has ever been paid on
The preferred stock of the company
will. of course, be appreciated. Mr..
Jeogbegan states the capitalization of
The Amalgamated Sugar Company at
s4,O0O,0O0, "of which amount only
-. 100000 has ever been issued, and
every share Of it has been paid for !
with 500 in cash, making no account {
If the stock dividends which have been ,
ssued And since these overissues all
lraw six per cent. the case stands as
We have stated it. Further, Mr.. Geo c
yhegan states that the cost Of produc- )
ng our sugar is far in excess of So c
,cr hundred AS our estimate was !
noc h,,r o. !
He don t seem TO be far apart. j.
Mr.. Geoghegan further claimed that /
here was an insinuation made in The :
Tribune that his testimony and that of O
,thers was actuated by "improper mo- :
IVES This is clear perversion of
what The Tribune said. On the CON t
rary, we expressly stated that we had t
lot the slightest intention to question I
he motives or the varacity Of the Utah t
non who made the statements in Wash /
ngton. Our position was that they had q
made their statements from the stand {
points of the settled conditions of the '
Amalgamated Sugar Company here, r
which included the overissue of stock $
Ind the great dividends which had ac. @
'rued to the stockholders thereby II a
5 oversensitlveness on Mr.. Geoghe. t
,an S part TO attribute anything cen. 9
orIous to The Tribune in this respect. n
lnce we carefully guarded our state.
nent with respect to the motives and
ruthfulness OF those who testified We
AVE not the least desire to make this 6
personal question. nor have we at y
INV time so made it. 1t is simply a
question OF economic production, and
IN that basis alone are we considering \
t; and we have treated every one with r
perfect courtesy in this matter. The /
News S lnsinuation that The Tribune
S opposing home industries is on par .
With the usual malignant course of that I,
PAPER toward this. The fact that We
,unieuJ he,