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American Sugar Refining Company

$8.00

SKU: 2204
Product Details

Intricately engraved antique stock certificate from the American Sugar Refining Company dating back to the 1960's. This document, which contains the printed signatures of a company President and Treasurer, was printed by the American Bank Note Company, and measures approximately 12" (w) by 8" (h).

 

This certificate's vignette features a sugar plantation scene complete with harvested cane, oxen and carts.

You will receive the exact certificate pictured.

    Historical Context

    William Havemeyer, a German immigrant who arrived in the United States in 1799, founded the first incarnation of this company. He operated Mr. Seaman's refinery on Pine Street in Manhattan, where his brother Frederick joined him; together, they opened their own plant in 1807, Wm. and F.C. Havemeyer, on Vandam Street. By 1859, the firm was known as Havemeyer, Townsend and Co. Refinery, but it remained in the control of the Havemeyer family. They relocated to Kent Avenue in Williamsburg, Brooklyn that year in order to take advantage of available open space, a deep harbor, and an abundant labor pool. In 1861, the name of the firm changed again to Havemeyers and Elder. Other refineries joined them on the Brooklyn waterfront and, in 1887, Henry O. Havemeyer organized the Sugar Refineries Company, which successfully consolidated these nine local refineries as well as another eleven nationwide. The new company became known as the Sugar Trust and was responsible for refining 75 percent of the nation's sugar.

    Because the Sugar Trust came under legal scrutiny, the Havemeyers dissolved the company and incorporated as the American Sugar Refining Company in 1891. The following year, that company purchased the E. C. Knight Company. As a result, by 1907 the American Sugar Refining Company controlled 98 percent of the national production of sugar. However, the company withstood challenge as a monopoly when the Supreme Court ruled that manufacturing -- in this case, refining -- was a local activity not subject to congressional regulation of interstate commerce.

    Responding to popular and congressional pressure, the Company, which patented the name Domino Sugar in 1901, began to focus on the production of raw and cane sugar in Cuba. Consequently, its share of the refining business dropped steadily, to 72 percent in 1911 and to 24 percent in 1922. With the development of government controls to foster competition, its share of the refining market continued to shrink to 17 percent by the 1940s. The company remained a major employer along the Brooklyn waterfront throughout the 20th century.

    In 1970, the company changed its name to Amstar Corporation, and it was purchased by the British concern Taft and Lyle in 1988. Later the company became Domino Foods, Inc.

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