The Elk Mountain pilot., 1920-04-01
MORErs LETTER BEST EVIDENCE
OF PROFITEERINe IN SUGAR
(Arvada Enterprise)

(Arvada Enterprse)
Weeks ago The Enterprise took up the work of prov
ing the people how completely they being BAN
boozled exploited and gouged by the corporation prof.
teers.
In previous articles told you of the millions
than 1Oo-of dollars of outrageous profits taken
the the producing and the people the
consuming end of the line by the Great Western Sugar
Company.
In this issue offer in evidence letter written by
c. Morey of Denver the general of the Great
Western Sugar Company and addressed'to W. b. Thomas
then president of the Havermeyer Controlled Sugar Trust
III Wall Street The letter folows
Denver, Colorado, March 10, 1910.
pany. liz Wall Street New York City.
a copy Of our financial Exhibit and Income Statement
This is the form in which expect to publish these
You will notice that this year in addition to the reg
ular 2 cent which we have been e
Depreciation Reserve ID not want TIL. year: e.r.
You will that total 81 Surplus @ Isl is shown by
include any surplus from the Billings company Inc
nearly ssoooooo Our Sugar is invoced 4c, and udg
from the present market indications there is at least
The value Of our N real sbsys
e so thas our suas
Wy 3p. 1884, Vol A. si' '''' G. s. MoREY Manager.
There you have it in black and white and beyond the
peradventure of doubt Way back in 1910. when you
could buy pounds of sugar for dollar, the Great
pound making such unreasonable profits that its gen.
manager. Mr. c. S. Morey, was. according to the
above proposing to send financial statement
which hide the truth Of the earnings of
the company. Why did he want to do that? MT Morey
told you why when he wrote 81 did not want this
earnings appear large they would II we had nos
this entry" Think of it, In less than six years WIN
a limited mill capacity and those mills in operation but
100 days in year. the Great Western Sugar Company
having sold for higher average price than
and 6tenths csnts per pound had after paying gooo
cD$ 10 n
wondered when the consumers are COM
pelled pay per pound that the Great
Western Sugar Company has mountain OF cash and git
edged securities reported to be $SOOOOOOo piled up IN
the vaults of the Corporation banks and Trust Companies
in Wall Street?
Is it any wonder that pay SAT annual dividend
nm each 500 of what the Great West
ern Sugar Company does not deny is waered stock!
is that that stock did not represent one dollar OF
invested capital other than the cost OF engraving ana
printing it. NV, II,
Street Sugar King After have done that
v to visualize of thousands of sick babies Inc
scores of thousands undernourshed children; the mil
lions of American working and women together with
the unnumbered feeble bodied old people, all OF wnom
must have sugar in some form In order that tney i've.
with that picture in your minds contemplate in cold
blood-if you canthe fact that every man. woman ana
child of that great of Americans is victim OF the
beartless souiess methods of proiteers every one OF
whom rich beyond the dreams Of avariee ,,z,>x
PITILESS PUBLICITY: THAT'S THE REMEDi.
TUE INITIATIVE LAW: THAT'S THE INSTRUMENT
FOR ITS APPLICATION.
North Dakota's to provide ready-m homes IN
the town and readymade farms in the country still neo
up by sabotage of the antfarmer interests through the
courts has imtators In the near
the people Kansas will vote upon constitutional
amendment to enable legislature to- the credit OF
the state aiding farm ownership 1T is passed ana
its sprit carried out properly Kansas will have land
bank performing many of the functions now performed
bv the central bank of North Dakota Another anena-
,en which would prevent spectators from running up
the selling prices their land and so practically de1ea'
ing the "farm homes amendment calls Tor cassnca'io"
of property taxation. improvements could then De
exempted and special laid absolute andiordism
The other case of praise by imitation is found In MIL
waukee For long time the labor mayor OF that CITY
has been agatng city construction of homes to meet
the arbarous overcrowdng caused by rapid growth with
out new building The organized commercial inssrests'
probably dominated by the real estate men, aave neen
fighting the plan until recently Manufacturers unaD'e
to hold worlmen there are homes available
have taken the bit their teeth and demanded action
This probably that the city will be able 10 go
ahead with the mayors plans