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Story
April 26, 1892
The Pacific Commercial Advertiser
Honolulu, Honolulu County, Hawaii
What is this article about?
Rumors in New York suggest wholesale grocers from multiple cities, backed by Erastus Wiman's $1M investment, plan a new sugar refining company to compete with the dominant Sugar Trust, potentially allowing market forces to address monopoly issues.
Clipping
OCR Quality
98%
Excellent
Full Text
NEW REFINERY.
The Sugar Trust is Likely to Have a Competitor.
Rumors are in circulation in New York as to the possibility of organizing a big sugar refining company, says the San Francisco Chronicle, to compete with the Sugar Trust which now practically controls the business of sugar refining in the United States. It is said that the backers of the movement are the wholesale grocers of New York, Philadelphia, Boston, Baltimore, St. Paul and other cities, and that Erastus Wiman is ready to invest $1,000,000 in the new company. The creation of a sugar refining company with such backing suggests the question whether the matter of the great trusts may not safely be left to settle itself. That they are an evil in many respects must be admitted, but when we come to discussing a remedy for the evil there is much to be said for the plan of letting the cure work itself out by the operation of natural and invariable economic laws.
The Sugar Trust is Likely to Have a Competitor.
Rumors are in circulation in New York as to the possibility of organizing a big sugar refining company, says the San Francisco Chronicle, to compete with the Sugar Trust which now practically controls the business of sugar refining in the United States. It is said that the backers of the movement are the wholesale grocers of New York, Philadelphia, Boston, Baltimore, St. Paul and other cities, and that Erastus Wiman is ready to invest $1,000,000 in the new company. The creation of a sugar refining company with such backing suggests the question whether the matter of the great trusts may not safely be left to settle itself. That they are an evil in many respects must be admitted, but when we come to discussing a remedy for the evil there is much to be said for the plan of letting the cure work itself out by the operation of natural and invariable economic laws.
What sub-type of article is it?
Historical Event
What themes does it cover?
Justice
What keywords are associated?
Sugar Trust
New Refinery
Competition
Wholesale Grocers
Erastus Wiman
What entities or persons were involved?
Erastus Wiman
Where did it happen?
New York, Philadelphia, Boston, Baltimore, St. Paul
Story Details
Key Persons
Erastus Wiman
Location
New York, Philadelphia, Boston, Baltimore, St. Paul
Story Details
Rumors circulate of wholesale grocers from major cities organizing a competing sugar refining company against the Sugar Trust, with Erastus Wiman investing $1,000,000. The article suggests trusts' issues may resolve through economic laws.