Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-01-16
TIE HARROW TRUST.

Inv - autAI known rs
the Harrow Trust is the latest poor
little innocent industry TO come for
ward and protest that it will die ~ the
Wilson bill is passed.
Now let us examine briefly into tho
history and development OF this con-
Germ, using nothing but court records
and its Own public statements. Its
history is interesting and pertinent at
this juncture. The members OF the
trust aud their allies, the Republican
leaders and organs have repeatedly de:
died that there was such n thing as
Harrow Trust, but To refute this bold
falsehood we have only to turn TO the
records of the New York Supreme
court. The Harrow Trust came be-
fore the courts in 1891. In his decision
Judge SMITH said:
There is nothing TO prevent this de-
PENDANT the Trust then known as the
National Harrow Company from raising
prices at will IL is hard TO conceive how
monopoly could be more firmly in
trenched or how competition could DO N )re
effectively struggled"
That settled the Harrow Trust in
New York, so IT went to New Jersey
and procured charter under the name
of the Standard Harrow Company.
Now we quote this Infant" industry
against itself. 1t published pros
pectus, and invited the public to take
at par 5000, 900 of it's cumulative per
cent preferred stock.
The capital OF the combination Is
So, 600, 600, (s1, 900 preferred and
81 900, 600 common stock.) The names
OF the combined corporations and firms
are shown in the following extract
from the published pros pectus and in
vitation to investors. Read IT:
This company is formed to acquire ard
carry on the float spring tooth harrow
business, and 10 acquire the patents,
licenses, special machinery aud tools, and
the goodwill relating to sucn business OF
the following firms aud corporations:
"A. w. Stevens X Son, Auburn, n. y;
Charles H.Childs X Co, Utica, n Y. Taylor
" Henry, Kalamazoo, Mich. Farmers
Friend Manufacturing Company, Dayton,
o.; Ilcrendeen Manufacturing Company,
Geneva, n. Y. Eureka Mower Company,
Utica, y. Y; North Moiter Mnnufactur-
Ing Company, Lansing, Mich; Walker
Company, NlOIaNla, n. \ %.
Pitts Agricultural Works, Buffalo, n. y;
ID. o. Everest, Pine Grove, Mich; T.. Be
meut x Sons, Lansing, Mich; l.. c. Lull
" Co, Kalamazoo. Mich; a. Baker Com
pany, Newtown, Penn; McSherry Manu-
featuring Company, Dayton, Ohio: w. =
Dawreuce, Kalamazoo, Mich; Williams
Manufacturing Company. Kalamazoo,
Mich; George Sweet X Co, Dansville,
n. Y; ID. Il. Smith n Co. Utica, \. Y;
Hench * Drumgod. York, Penn; Childs
* Jones, Utica, ~ Y; Syracuse Chilled
Plow Company, Syracuse, n. Y.
This company will also acquire all the
capital stock OF the \ ational Harrow Com
pany the old Trust, which the Supreme
Court OF New York had denounced, be-
longing To the above conforms.
The aforesaid twenty-one companies
and firms manufacture and sell over - per
cent. OF the entire output Of spring tooth
harrows in the United States. The indus
try Is staple and constantly growing and
these implements are farm necessity"
1t was also stated that the annual
net profits were S219, SOC, or sufficient
to permit the payment of per cent. on
the preferred stock, the withdra wal OF
% per cent. Of the surplus for a sink
ing fund. and the payment Of II per
cent on the common shares.
And now we come to the following
brief but very interesting declaration
made six months after the election OF
Mr.. CLEVELAND and a Democratic Con
gress:
This industry VIII not be affected by
any possible changes in legislation regard
ing the tariff"
Tariff reisrm was as certain to come
then as II is now, in fact, everyone ex-
pected much more radical tariff reduc-
lions than the Wilson bill makes; and
yet here we have the positive assurance
from all these combined manufacturers
to buyers Of the Trusts shares. that no
possible change of the tariff could az
feet the Industry.
And yet the Trusts agents are now
bowling and raging about Washinpt ton
FOR protection" when they can and do
undersell the world.
II is interesting 20 note that one Of
the concerns in the Trust is called the
Farmers Friend Manufacturing Com
pany, and that its factories are In Ohio
Mo KrNLEY's State.
This is a sample Of the infants"
born and reared under the Republican
tariff policy, that are piteously plead
Ing 20 be allowed to retain their grip on
Uncle Sans pap bottle and TO keep
their hands warm in the peoples peck
cts
EX-oOV. BEAVER TALKS.