Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1902-08-19
MoRGAN's NEW UNION.
Big Harvester Combination With Cap,
itaIization of $12o,ooo,oOO.

ltdllZaIlOn OF 9lGC,UUU,UUU.
Ottumwa is to feel the effects of J.
P. Morgan's latest great organization,
a big harvester combination, which
will have the absolute control of the
business of making and selling OF farm
machinery in America and to be call
ed the International Harvester COM
pany with a capitalization Of $4,000,
900.
ottumwa Business Houses Interested.
Following the announcement in last
weeks Courier that all farm machin-
The great combination will be of
especial interest to all the several i'm
plement houses in this city.
Reasons for Consolidating.
1T is well known says the state
ment of the directorate, that the
prices of raw materials used in the
manufacture of harvesting ma
chinery have steadily advanced
during the past few years, and al
through the manufacturers have hith-
erto avoided an advance in the price of
their products, it has become appar-
ent from the existing conditions that
higher prices would become necessi-
ty unless the methods of manufacture
and business could be materially i'm
proved and large economies accom-
plished.
Will Aid the Farmer.
cry was to be advanced 10 per cent,
comes the announcement of this great
organization that the harvesting ma
chimes will not be advanced in price
| from what they are at the present
| time
In its announcement to the public
the directorate delivers itself of an
apparently frank statement concern
ing the principal reasons for the for
nation of the combination, even going
to the extent of declaring that, in
stead of making for higher prices
which the farmers of the country
would not stand" it will bring about a
general steadying in the cost of har
vesting machinery and will hold pric
es down to their present basis, as a
matter of good policy The manufac
turers realize that their welfare and
the interests of the farmers are iden
teal. The United States, through its
fertile fields, labor-saving machinery
and cheap transportation, has become
the leading food-producing country o.
the world An advance in the price
of agricultural machinery would in
jure the farmers and react upon the
manufacturers.
4 The local managers and dealers are
of the opinion that it is going to be {
good thing for the farmer and all par
ties concerned.
Promises Cheap Machinery.
No W IIa
pany expects that, through the exten
sion of it's business and the importan
economies which it can effect the
farmers of the United States may still
have the advantage of cheap harvest
ing machinery, which has been one o
the important factors in bringin.
about their present prosperous condi
ton. 1t is believed that the opera
lions of the company will thus resul
in substantial benefit both to consu
J mer and manufacturer
Iowa Firm May Enter Combine.
. Ten or twelve of the large manufaC
turing establishments that are not We
members of the combination it is be
, lieved will join it in the near future
, Among them is the Bellensdorf Meta
Wheel company of Davenport.
Four Companies Not Included.
Four companies not included in tn
I consolidation are d. M, Osborne & CO
: of Auburn, N. Y; tombstone Harve:
e ter company of Batavia, n, Y; Waite
A. Wood Moving and Reaping MI
chine company of Hoosick Falls, \
Y, and Adriance Platt & Co., {
: Poughkeepsie, N. Y.
o Will Make Implements of All Kind
: The new company will not only ma,
S ufacture harvesting machinery br
will make farm implements of a
e kinds. If they do as they have promi
e ed, they will prevent any increase
S the price of any kind of farm MACH
y cry. This would mean great sa
e ing to the farmers of this country.
n is announced on good authority tn;
e the headquarters of the concern wi
r be at Chicago.