People's Pilot, Volume 4, Number 35, Rensselaer, Jasper County, 23 February 1895 — A Product of the Two Old Parties. [ARTICLE]

A Product of the Two Old Parties.

The sugar trust, which is capitalized at $75,000,000 represents an investment of only $10,000,000. On its capitalization it paid in 1888 27.5 per cent, and in 1889, 23.9 per cent. After reorganization in 1892 the dividends reached 150 per cent on the actual capital invested, and in 1893, 165 per cent. The New York Journal of Commerce and Commercial Bulletin estimates the present profits of the trust at about 220 per cent, or $22,000,000 a year. According to a Wall street paper, H. O. Havemeyer, president of the trust, receives a salary of SIOO,OOO. Theodore Uavemeyer and J. O. Searles $75,000 each, and three other magnates get $25,000 a year each for acting as trustees. And yet a little ring of bogus democrats in the senate compelled congress to put a protective tax upon refined sugar that this “infant industry” might be shielded from foreign competition. No wonder the people turned the democracy out. ...