Democratic Sentinel, Volume 21, Number 8, Rensselaer, Jasper County, 26 February 1897 — The Sugar Trust. [ARTICLE]

The Sugar Trust.

The sugar trust was organized in 1887 and in 1891 it sold out to the American Sugar Refining company, which is the old concern under a new name. The fifteen com paries combined iu the trus-t origliy hud a ca italization of fSO, 000,000 When the trust bought ■mt the Sprecnles refineries in Philadelphia, which had been established as competitors, tße captal whs raised to $75 000,000. The Philadelphia refineries and tho e were closed throwing out 1,500 employes in tlie former an I I.OtU in the la ter. The Raltimore xefine> y -om ul • : losed when t u- l*u t obtained ci'UD-ol <-f i . Tli >■ • I ins podey upon iabor ■■ it. b • r*. a-iiiy s.-an. On I iie po-fe n! i -i stock amount, ing <■ $ :7.0(|0,01)'‘, 7 per c*-- t. civil eu : - cere paid last vear, and tin.holders of this sio k receive I comma s' ck to the Hio■•■nut of their po vnin In hi mgs and ou this 12 pm cent was paid. A profit of 19 ba r cent, and a d milling of of slock was pretty good for one y nr. Mr. ilavtiuey r. tli * monar Ii of trie trust-, frankly cl >c ared to the L exow iuve-ri atiug committee that In* won' I not go into any business that does not pay fr< m 15 t 20 pei cent. It is asserted by those who have examined fat ■ tin*subjectc.»retufiy that the reai pi.>tits of thetiust a e far greater than tli<> dividends pai I, tin l , stock tnvi > lie m so liber.- 'y watered. Tiie actual investment is pro! ably loss than* $29,000,000, find the profits last rear were consider b y .urge; than that sum.