The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-16
The Sig HARVESTER COMBINE

/ REORGANIZATION IS now ABOUT 10 snake
hands with the farmers OF the United
| States
! The incorporation Of the International
| Harvester company with capitalization
| OF So. l0e. co. under the laws OF the state
| Of New Jersey, on Tuesday. adds another
great consolidated commercial power 10
the already tremendous list OF American
| giant combinations.
The Chicago Record Herald says: Its
/ birth means the absolute control OF the
| business CT making and selling harvest
/ ing machines in america, and incident
/ ally the control. in the near future. OF
| the worlds trade in this channel There
are indications that the master hand Of
J Pierpont Morgan has had more than a
| little 10 do with the new combine
| Every precaution that could be thrown
around the consolidation was taken. and
it was not till a few days ago that any
persons not Immediately connected with
| the deal were aware Of the proportions II
was about TO assume.
There is 10 be no offer of stock 10 the
public. and q statement issued by the d.
rectors declares that over SS9.oo0.0o0 OF
/ the capitalization is made up OF cash
assets of the various concerns interested
The combine is the direct outcome OF the
growth and prosperity OF two of Chicago 5
! greatest business houSes-the Mccormick
/ Harvesting company and the Deering
Harvester company. In fact. the total
membership. as it at present exists. is
| composed. with one exception. OF Chicago
| establishments The Piano Manufactur-
| ing company and the Warder, Bushnell
&, Gleason company Of Chicago. with the
! Milwaukee Harvester company Of Nil
waukee. help TO form the nucleus OF the
| corporation.
The overshadowing interests of the two
most prominent houses is shown in the
! list OF officers of the new corporation
| Cyrus II. Mccormick is president. and
utive committee.
| IN its announcement to the public the
directorate delivers itself OF an appar-
| emily frank statement concerning the
principal reasons for the formation of
/ the combination, even going 10 the ex-
tent of declaring that. instead 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 harvesting machinery and VIII
hold prices down TO their present basis.
as a matter of good policy
The general advance in the price OF
raw material for machinery during the
/ last few years would according TO this
statement have compelled various firms,
acting as individuals, to raise the price
OF machinery, and it was apparent that
10 form a combination and thus materi-
ally cheaper the cost OF production. 1t
is the expectation of the company" says
the doctors statement. that through its
! large manufacturing facilities and ample
/ cash resources il will be able 10 continue
the manufacture and sale Of agricultural
machinery without having to increase
prices"
OF all the great combinations OF capital
Ear h,r- in
cade this is the ,rst to announce, as its
only reason for existence. the keeping
down of prices on its goods. Instead
OF being the generally accepted definition
OF a trust. "a combination in restraint OF
trade" it asserts without qualification
that it is a combination in restraint Of
high prices.
Considering the overshadOwing import
ance of Chicago establishments in the
new concern IL was at first hoped that at
last some great western finaEcier had
: arisen TO enter into the lists against j.
Pierpont Morgan for the title OF organ
izer in general TO the world. A dispatch
10 The RecOrd-Herald last night. how
ever, dispelIed this illusion. IL appears
that the statement OF policy, ostensibly
emanating from the directorate, had In
reality been given out by George ". Per
kins The name of Mr.. Perkins appears
on the list of officers of the company as
chairman of the finance committee But
Mr.. Perkins has another title TO fame.
He is a close associate of Mr.. Morgan and
an officer Of the firm Of J. p. Morgan &
Co.
The officers or the company are as fol-
lows:
President-Cyrus II. Mccormick.
Chairman executive committee-Charles
Deeriag
Chairman finance committee-George W.
Perkins.
Vice-presidents-Harold T. Mccormick.
James Deering. William II Jones, John
J. Glessner.
Secretary and treasurer-Richard T.
Howe.
Board OF directors-Cyrus Bentley. Paul
d. Cravath william Deering. Charles
Deering, James Deering, f. H. Gary,
John J. GIessner. Richard F. Howe,
Abram NJ Hyatt William n. Jones, Cy-
rus Il. Mccormick. Harold +. LcCor-
mick, Stanley Mccormick. Eldridse VI.
Fowler. George ". Perkins. Norman B
Ream. Charles Steele, Leslie D. Ward
1T is well known" says the statement
of the directorate. that the prices Of
raw materials used IN the manufacture
Of harvesting machinery have steadily
advanced curing the past few years. and
although the manufacturers have hither-
10 avoided an advance n the price OF
from the existing conditions that higher
prices would become a necessity unle1s
the methods OF manufacture and business
could be materially improved and large
economies accomplished The mSnufac-
turers realize that their welfare ard the
interests OF the farmers are identical The
United states. through its fertile fields,
4 bor-saving machinery and cheap trans
pOrtation. has become the leading food
producing country Of the world. An ad-
vance in the price II agricultural ma
react upon the Manufacturers but on the
ether hand II existing conditions contin-
uod an advance IN prices would be newt
able. II thus became Necessary either
that prices should be advanced or that
substantial economies should be enecte1
in the manufacture and distribution Of sg-
ricultural machinery.
The International Harvester company
hopes that. through the extension % Is
business and the important economies
which il can effect. the farmers = rhe
United states may stHl have The advanf-
sge of cheap harvesting machinery,
Which has been one n the important fac
to-s in bringing aboat their present pros
perous condition. j. 81 believed that Che
operations Of tho company all thus result
N substantial benefit both n consumer
ana Enariifa ctGrer-
The management Of the company wil
be 50 charge Of Es1ticmen Who have ior
years been iee1;ifsd with tfe business
The company wIl start ~ith ample naen-
ufacturing facilities. III has fully equip
.ed manufacturing plants in Tie United
States. The largest ard most complete az
tkeir kind in the world. and one pian.
noW ir process q construction ln Can
ada Through its ware houses IN various