The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-10

u o. In the price Of the commodity.
whicn was below cost, while all other
commodities had advanced In price.
" was said that the company was not a
monopoly In i:s constitution BY reason
OF the wide distribution Of its stock. OF
Hs 1900 shareholders, more than 1900
VI wnOm are women, more than 30 per
cent. are holders of less than ten shares
each. The average holdings. 1t was as
serted, are not more than fifty shares for
each stakeholder.
The terms of dissolution were broad.
Inc company offered to restore conditions
IN the refining business such as existed
before 1892, when the amalgamation and
development policy Of the Havemeyers be-
gan to exert itself.
In doing this 1t agreed to 30 control It's
output through sales Of properties and
otherwise that Its percentage OF output to
the total In the country would he made
less than half Of the percentage OF output
To the total that II manufactured in 1892.
IL agreed to retain only those cane re-
fineries which 1t wholly owned. 1t has
already disposed Of a number OF them.
IT also agreed to divest itself OF large
holdings In the beet sugar industry,
against which the case Of the Government
has been largely directed.
Regarding Its cane refineries. for in
stance. II agreed to sell the big Franklin
refinery at Philadelphia under terms OF
sale and values approved by the Govern
nient. which 1t offered practically to allow
to supervise the sale. This refinery Is not
now In operation.
Trusteeship Plan Urged.
In the method Of diyposing of these
holdings the company sought no pro rata
distribution of securities among stock
holders, but suggested the trusteeship
method Of disposal followed by the Union
Pacific In itq lixnnqitinn pf Snuthern
oific stock
The American Sugar Refining Company
owns In fee the four great sugar refineries
at Jersey City, South Boston and two in
New Orleans In addition IL controls the
entire capital stocks of the American
Sugar Refining Company OF New York.
the Spreckels Sugar Refining Company of
Philadelphia, the Franklin sugar Refining
Company OF Philadelphia and the Brook
Ign Cooperage Company.
IT owns about - per cent. of the stock
of the National Sugar Refining Company.
the majority stock Of the Iowa Sugar
Company. one-half the stock Of the
Spreckels Sugar Company and the Anal
gamated Sugar Company and little less
than one-half the stock OF the Utah Idaho
Sugar Company.
1t owns majority interests in the stocks
OF six large beet sugar companies 1t
OWLS directly seven OF the twenty-one
| cane refineiIes OF the country and has
stock interest. less than "A majority. in
! four others. II holds stock ownership
! in thirty three factories Of the sixty
, eight In the country that produce sugar
| from beets. but holds a majority stock
| In only one. In 1912 II produced 3Si.
per cent of the sugar refined In tho
United States.
That the constitution Of peace is not
to rule uninterruptedly Is further ac-
cepted in Wall Street by the fact that
the case against the United Shoe Ma
chnery Company has been resumed In
Boston.
1t Is likewise evident that though the
Government has reached an agreement
with the American Telephone and Tele-
graph Company on the points announced
at the time II has not called of the
investigation OF the company's AFFAIRS
which n going on from city TO city all
over the country by Prosecutor Smythe
In connection with the suit against the
Pacific coast companies.