Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-07-10
BEET SUGAR men
AFTER NEWSPAPER
Chicago er-0cean Given
Consideration as Means of
Opposing Tariff
Removal

Inc 1OllOWlnS letter, OdteQ MATCH
90, 1912, addressed to. Charles w.
Warren, president of the Michigan
Beet Sugar Company, by Clarence G.
Hamlin of Colorado. was read before
the congressional 'insidious lobby
probe committee and shows the eff.
forts made by the beet sugar inter
frss to secure the Chicago Inter
Ocean as an organ with which to
fight against the removal of the tar
if. Hamlin is "a newspaper owner of
Colorado Springs, deeply interested
in the beet sugar industry and a
nephew of Senator Clark of Wyo-
ming. The letter reads:
Dear Mr.. Warren-Since writing
you on Saturday / have had two con.
ferences with Mr.. Human, who con
trolls the Chicago Inter Ocean. It
seems to me that matters discussed
deserve our serious consideration
Mr.. Human has purchased. or ar.
ranged to purchase, 100000 of the
bonds of the. Inter-Ocean formerly
held by the Yerkes estate, but as |
gather it, he is not in shape to handle
the proposition personally and desires
to place these bonds. The total bond
issue against the paper is 100000,
including the above, and bears inter-
est at per cent and natures in 1926.
OF these 100000 mentioned s165,006
has already been placed and Mr.. Hin
man desires assistance in handling
the remaining $4,000. In placing the
bonds already sold, Mr.. Human has
had the assistance of the vice-presi-
dent and ex-Speaker Cannon, both of
whom are interested in seeing him
carry through this transaction. His
proposal is that we assist him in tax.
ing care of the remainder OF these
bonds; $4,000 of the proceeds to go
to working capital
The lnter-Ocean has had it's vicis-
STUDIES and is, now operating at some
loss, but Mr.. Human assures me that
ii is now on the upgrade. He tells.
me that they are practically free from
floating Indebtedness and have never
defaulted on an interest payment.
An Eye to- the Farmers.
The Inter0 Ocean is one oftthe three
papers which hold Associated Press
franchises in the city of Chicago, and
the only Chicago daily which pub
fishes weekly edition. This weekly
edition has a circulation OF nearly
100000. almost exclusively among the
farmers in sections which it is most
desirable for us to reach. think no
Taper published in that section OF
the country is so generally quoted by
the agricultural and country press as
is the Inter-Ocean.
The paper has always been friend
" to our interests, and should we aid
Mr.. Human, speciality will be made
of the sugar tariff and our business
viii receive particular attention all
along the line
The daily circulation of the paper.
is about $4,000. Mr.. Hinman tells me
that he has standing offer of ST.
100000 for the paper, and while these
securities are not such as to be dis
posed of readily, it seems to me that
they are perfectly safe, as paper
with the circulation, franchise and
standing such as the Inter,Ocean sure
~ ought always to be, worth $500 ,00O
1T certainly seems to me it would
be- good business for. our people TOT
make this investment and thereby es-
tabfish an organ in the Middle West
which willagiye our industry the at
tention it deserves. So far as my
own company is concerned, l feel safe
in saying that we will pay our share.
Thinks Plan Good. ~
IF these bonds, or considerable
portion of them, were taken over and
then distributed among the larger
concerns, the amount invested by anyi
one would not be large. neither would
the money be given in the sway of a |
contribution. ! gather from my talk |
with Mr. Human that the matter SIS !
somewhat urgent in so far as time is |
concerned. Mr.. Human personally
owns about three-fourths of the stock
of the Inter-Ocean. Mr.. Oxnard seems |
to think that his people will look with |
favor upon helping. am writing Or
ly to yourself and Mr. Morey. If two
or three of the stronger concernsI
would underwrite the remainder OIL
these bonds or substantial propor-
ton of them, i believe we would have
no difficulty in diSfrihllfinr Thorn 1