The people's voice. [volume] (Helena, Mont.) 1939-1969, 1948-12-17

($8 million over 1916
no figures available
for 1948)
National Sugar
Refineries, 1947 - 4,618,888
Great Western for 1948
(last day of Feb.) - 10,116,781
approx. So million
over 1947)
American Crystal, 1913 - 4,6O3,438
Holly Sugar, 1913 -- 3,590,911
Utah-Idaho Sugar ---- 1,723,835
TOTAL SAL, $3.50, O33
Some of the 1913 statements are
not yet available. The California
Hawaiian Sugar Refining Corpora
ton, Ltd, makes public no financial
statements. In ten years 1939-1948
the net profit before taxes for Great
Western was almost $50 million. For
the six companies, over this same pc
riod their net profit before taxes was
almost $500 million. Not all figures
are available and none for the Cali
fornia-Hawaiian Co.
Deducting 5000 from 5000 million
for the purpose of taxes still leaves
$40,00O,O00 profit after all deduc-
TONS
Let's Look at the Tie-up
Now let us take look at the tie
up in these companies.
The American Sugar Refining Co.,
largest in the industry, is Rockefeller
dominated. It's net sales in 1947
topped 1902 million and although it
refines only cane sugar, its sales con-
stitute about one-fourth of all re-
fined sugar, cane and beet, consumed
in the United States.
The National Sugar Refining Co.,
second largest in the industry is in
the Morgan setup. Its net sales in
1947 amounts to $155 million. 1t is
a refiner of cane sugar, and its sales
constitute about 14% of all refined
sugar sales.
California & Hawaiian Sugar Re-
filming Corporation, third largest is
owned by 80 Hawaiian sugar planta-
tons who boast of having a net worth
of more than $120 million. Details |
of it's operations are not made pub
lie. It operates a cane sugar refin-
cry, largest in the world, at Crockett,
California and accounts for 11%o of I
all refined sugar.
Great Western Sugar Company,
argest beet refiner and fourth in the
is closely linked with the
National Sugar Refining Company,
IS shown by the fact that Horace
1avemeyer, Jr., as well as his uncle,
William K. Dick, are directors of
National Sugar Refining Company.
Great Western had net sales in 1913
# over $51 million and it processes
lbout one-third of all domestically-
grown sugar beets.
Directors Take a Bow!
Now let US take a look at the di-
ectors of these companies.
Here we see the pattern of Rookie S
eller-M Morgan interests in the major {
ugar companies. The board of di-
ectors of the American Sugar Re- I,
lining Company, closely linked with
treat Western are directors who rep Y
esent such well-known Rockefeller /
Enterprise as the Chase National 6
Bank, American Express Company, i
he Borden Company, and Western
Jnion, along with the directors from Y
forgan sources such as the Bankers t
rust Company, Metropolitan Life
insurance Co., Prudential Life and Il
he National Biscuit Company. a
On the board of the American b
ugar Refining Company are the G
blowing directors: a
Joseph F. Abbott: Director Amer %
AN Express Company, trustee
-merican Surety Company, chair f
Ian, Sugar Research Foundation, t
&C. n
Earl D. Babst: Director, Chase C
ational Bank of New York, Ro- Il
hester American Insurance Com f
any and eight other insurance COM t.
anies. <
Francis H. Brownell: Director, q
base National Bank of NY, Amer L
an Smeltino and Refining Co. Fed II