The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1891-01-14
BIG TRUST BROKEN UP.
THE HARVESTER COMBINE IS
OUT OF EXISTENCE.
The Plans of Messrs. Mccormick. Dcering
and Other Manufacturers Ia Raise the
Prices of Reapers Found tn he Illegal.
and the big Trust Coliapses.
[Chicago dispatch.

Prices OF Reapers Found tn he Illegal.
and the big Trust Coliapses.
TChicago dispatch.
The American Harvester Trust Is a
thing OF the past IL only lived month
or two, i'm spite OF the great things
promised about IL. When IL was organ
lied its capital was said To be S35, co.,,
0C0-a tidy little sum that would carry
most enterprises through all right The
following statement OF the dissolution of
the trust Is given OUT
"The American Harvester Company
states that after securing the opinion Of
eminent counsel from different States IL
has been brought face To face with grave
legal obstacles TO the consummation' OF
the enterprise for which it was formed.
These are of such n character as that
after the most serious and careful con-
sideration the conclusion has been
reached that the whole undertaking
must be abandoned. In doing so IL is
but adopting the course such counsel
have united I'm advising"
The companies that seeded are said
to be the Mccormick Harvesting Ma
chine Company, the Deering Company,
the Whitman Barnes Manufacturing
Company, and Warder, Bushnell q
\ Glessner. These companies are said 10
have been dissatisfied with the policy Of
the trust in raising prices, and also in
the consolidation OF the interests of the
| supply houses TO the disadvantage Of
their patrons.
They stated their objections at Thurs
days meeting, and that precipitated a
| fight. The result is that they have with
drawn, and now propose TO make it inter-
| H. -. IL l.
trust. They intend to cut prices and
made a most interesting war on their old
allies, il Is said
All this will be pleasing news TO the
| farmers, as a fight must result in great
decrease in the prices Of their supplies.
| Instead of trust to put up prices it
looks as though it would be war to put
them down.
"The dissolution of the American Har-
vester Company was due entirely TO the
| fact that the organization is antagonistic
TO the spirit of the law" said large
stakeholder last night. ave made a
mistake in the organization of the COM
pany. We are all law-abiding men, and
after hearing the opinions of the best
counsel in the country we decided To
dissolve.
/
that the company broke up because some
of the stockholders advocated radical
advance i'm the prices of machines. This
had nothing whatever to do with it.
The matter of prices was not mentioned
at all. 1t has also been told that the
! Farmers Alliance In the Northwest had
conspired against us and declared the
| members would not pay the notes we
held. This was not true, as we held
none of their notes.
"The directors met here TO consider
what should be done. At the meeting
were large number OF the stockholders
and they all took part in the discussion.
| And on learning that our organization
was opposed u the spirit of the law we
decided TO separate and continue TO dc
| business as we had done before. This Is
simply and solely the cause"
Col. A. L. Conger of the Akron Mower
| and Reaper Works said: "All thatrf
did and our reasons for il are stati- we
that resolution which we adopted led In
simply this: We went into TN q. 1t Is
in good faith, expecting to pe9Eis project
ganizaton That would be Fl ffect an or
interest of the manufa 'or the mutual
farmer and everyhpDle.cturer and the
had anything TO ny whose interest:
we got ready tc St,o with it. But wher
place our .hcidat foceed to business and
| barrassmr Illin,rS we met those legal en-
any orgote.ts which naturally surround
listing lleilization Of this kind under ex
"Th avs.
we hsere is no use denying the fact tina
ganJ%d made some mistakes in our or
thG1zation, that is TO say, we found tha
paf laws in some States and the law!
4essed in opposition TO such organiza
-Jdons by Congress made a serious embar
! rassment 10 our proceedings. Undoubt
| eddy it would have endangered the in
vestments that were carried into thu
company. We felt that all interest,"
would he best protected by withdrawing
and continuing the separate interests a
they now are.
ave intended 10 make an organization
that would be beyond criticism. w
sought TO avoid the features OF the trust
We could not do justice to the various
interests without q large amount o
money, which we could not get on &C
count of the legal objections.
There is no present intention OF reor
ganizing. Whether anything is done il
the future is open 10 question. Nothing
has been done in that direction yet"
A Mason City, Ia, dispatch says Will
lam Deering Il Co. have notified thei
agent here that their company has with
drawn from the American Harveste
Company, which undoubtedly will breal
up the trust A good many men in thi
section WAC had been discharged by TIN
company will now resume work.
A Dallas, Tex, dispatch says: The ag
ricultural implement men here are re
joicing over the receipt TO day from Chi
cago Of telegram from Aultman, Mile
Il Co stating that they had withdraw
from the American Harvester Company
10 which invoices had already bee
turned over. The Farmers Alliance
whose State headquarters are here, clair
that they dealt the combination its deaf
| blow.