American Sugar Refining Company

Definition

The American Sugar Refining Company was a monopoly that controlled nearly all sugar refining in the United States during the late 19th and early 20th centuries.

Analogy

Think of the American Sugar Refining Company as the only ice cream shop in town. If you want ice cream, you have no choice but to go there, just like if you wanted refined sugar in late 19th century America, your only option was this company.

Related terms

Monopoly: A situation where a single company or group owns all or nearly all of the market for a given type of product or service.

Trusts: Large business entities that are formed to create monopolies and control production, marketing, and pricing of goods and services.

Sherman Antitrust Act: An 1890 law that banned any trust that restrained interstate trade or commerce. It was one of the first federal laws to regulate trusts and monopolies.