Evening star., 1923-04-29
BILLION INVESTED
IN CUBAN SUGAR
u. S. Agents Assert New
York Interests May Control
10 Per Cent of Crop.
PROBE JUMP IN PRICES
Detectives Seek to Prove Sugar
Hold-Up Was Planned by Men
in This Country.
PROBE JUMP IN PRICES
BY HARDEN COLFAX.

BY HARDEN COLFAX.
Evidence that New York financial
and sugar refining interests have an
investment of more than s1,O0O.0OO,OO0
in Cuba and control large part-be-
1teved to run as high as 20 per cent
of the Cuban raw sugar crop has been
unearthed by government investi-
gators at work on the 900 week
ly sugar hold-up of the American
public.
The governments detectives are
seeking information with respect to
charges that the sugar hold-up was
planned, engineered and carried out
by New York financial interests,
closely related to the great sugar re-
f1nerS. The most recent evidence,
which comes from Il representative or
the refining interests. is III nature OF
testimony given by Henry A. Rublno
of New York. who. in his own words,
represented american interests en-
gagged in the reduction of raw sugar
in Cuba" before the Senate finance
committee in the latter part of 1871.
Al that time the committee was hold
ing hearings on the proposed tariff
Haw and Mr. Rubino placed before the
committee various tabulationS outlin- :
ling the extent of American financial
Interest in Cuban sugar.
Reports SI.OOo.00O,OOO Invested.
We have attempted" said Mr.. Ru-
biuO in filing his exhibits, with the
greatest care and with all the data
that is available and at our command,
IL show you the extent of that amer
lean investment today, represented by
stocks and securities. widely held and
distributed in the tmi,ed nn odo ooG states, in
amounting to over 1,ooO,0Oo,ooo m
vested in the sugar industry in Cuba,
according to actual figures
According to Mr.. Rubino's figures,
the ST 0OO. 5000 was made up as fol-
lows:
Sugar mills and estates owned by
Americans. s621.219,166.
Sugar estates controlled by Ameri-
cans by reason of their being hnanced
by Americans. s125.000.0O0.
Investments in Cuba owned by
Americans dependent entirely upon the
sugar business. Sl56.25O.000.
Amount due Americans for ma
chinery, merchandise and supplies and
secured in part by equipment trusts,
etc. S12S.00o. 900.
Total, S1,031,069.166.
Other American Interests.
The tabulation is taken from the
finance committee's report of pro-
ceedings of hearings on schedule hYe
of the Fordney- -McCumber tarlH Dill.
that schedule covering sugar. molasses
and manufactures of sugar and mo-
lasses. Mr.. Rubno placed other
American Investments in sugar In the
United States, Porto Rico and Hawaii
at $545,000.000, and added:
THE American industry in Cuba has
twice as much at stake as all the other
Industries
Fourteen American-owned corpora
tions alone. according to Mr.. Rubino's
figures. had an investment OF more
fhon X41S ono 600 in Cuban sugar mills,
as follows:
Cuban Cane Sugar Corporation,
New York corporation. $124.00O,000.
"Cuban-American Sugar Company,
New Jersey corporation, controlling
six Cuban corporations with total as
sets of more than $69.O0O,OOo.
"Manati Sugar Sompamy' PM ANY a New
"Punta Alegra Sugar Company,
Delaware corporation. S30.345,422.
Guantanamo Sugar Company,
New Jersey corporation. Sl2'SIo,24'.
.Cia. Azuc. Andres Gomez Mena. a
Cuban corporation owned by Ameri-
cans. s29,S84.304.
United Fruit Company, New
Jersey corporation, s42,000.o00
Miranda Sugar Company, Cuban
corporation owned by Americahs' Wv
72S.i93."
Further Investment Details.
The Miranda company was the one
with which Mr.. Ieubino was connected
officially at the time of his testlmoy.
His list of other American corporations
with investments IN CUBAN sugar III
ciudeS also:
American Sugar Refining Company,
:. New Jersey corporation, S30.O0O,O0O.
Hershey Corporation, owned by
Hershey Corporation, a Delaware cor
poration, s11.500.000.
'Compania Guiana, a Cuban corpo-
sration, owned by Americans. $lS,3O3,-
3J4.
Santa Ana Sugar Company, a Gu
ban corporation owned by Americans,
$l4.9b0,000.
Central Cuba Sugar Company,
New Jersey corporation, $l3,500,000.
Atlantic Fruit Company. a Della
ware corporation, s15.000,000."
All told. forty-eight American own
ed corporations are included in Mr..
T;ubino's list. but the foregoing COM
panies are the largest, in point of
assets. with more than two-thirds of
the total American investment.
The forty-eight companies cited by
Mr.. fubino. according to his state
ment owned or controlled" 4,459.407
acres of Cuban cane-sugar land. The
output of the forty-eight companies
in 1920. his report to the committee
shows, was 14,930.O25 bags of sugar.
Controlled 2,OOO,OOO Tons.
In the trade a bag of sugar counts
, for about 325 pounds. Seven bags are
\ figured to the long ton. On the basis
of such computation the American
financial interests in Cuba "owned or
controlled" upward of 100000 long
tons. or about half-slightly more
Of the entire crop.
Bearing in mind the long -est ablish-
ed practice under which Cuban sugar
laid down at New York fixes the price
of both raw and refined sugar
throughout the United States, the
governments investigators believe
they have found a most important bit
of evidence. Should it establish moth
ing more, it makes clear, at least
that American financial interests are
!. getting not less than half of the ex-
cess charged today for sugar over the
normal market price.
Downright 1922