Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-12-16
Conference of Representatives
of Various Concerns Inter
ested in the Combine
MORGAN TAKES PART IN DEAL
His Representative and Close Partner,
G. w. Perkins, Attends the Meeting
The Trust Meeting With Good Deal
of Opposition Competition Will Also
Be Severe.

resentatives of the principal interests
of the new farming implement trust,
styled the International Harvester
Company, was held last evening at the
Chicago Club. Some of the final de-
tails of the combination as to compen-
sation are said to have been settled by
G. w. Perkins, J. Pierpont Morgans
right-hand man, and the conferees.
Cyrus II. Mccormick, representing
the old Mccormick Harvesting Ma
chine Company, and representatives OF
the Deerings and other large firms in
the merger, attended the meeting, the
details of which were kept secret
Mr., Perkins, it develops, has been In
Chicago since Saturday evening, ana
during his stay here he has been almost
continually in conference with the mar
vesting machine interests. Ills li1le
has been devoted exclusively TO Closing
nm the deal. knowledge of his presence
in the city was kept from the local u
nanciers supposed to stand close 70
Morgan, as Mr.. Perkins wished to de-
vote his entire time to the Implement
trust. He will probably return 70 New
York this evening
From persons thoroughly familiar
with the farming implement business
ru,nors have emanated which 90 not
make anything appear as rosy LOT tle
trust as Morgan, Perkins, and the nrllis
in the merger might expect Ihese ru-
mors are to the effect that the trus.
will encounter unexpected ana uhue-
sired competition from OUTSIDE manu-
facturers. who are enlarging their
nlants and putting many new agents III
the AGRICULTURAL districts. These agents
are said to have met with such uneX-
nected success that their employers, In
the light of heavy advance orders, have
secured CAPITAL to enlarge their bus1-
nesses to such an extent that the trust
will have to start in slasnlng prices "
make up lost ground.
1t is said also that the trust people
are greatly worried over failure to gain
control of some important patents
without which the combine VIII De I'M
able to corner the manufacture OF farm
implements. These patents are now
held by outsiders, who positively reiuse
to sell them atlany price. Instead OF an
outright sale of the patents, the holders
demand a royalty from the trust with
the privilege of letting any one max
ing farm implements use the improve
ments on the same terms.
With these patents accessible the
outside manufacturers of farm 1mple-
ments find themselves able to compete
with the trust and at the same time
make a profit
The situation was thoroughly dis
cussed at the Chicago Club conference.
Those who participated refused to state
its outcome, but it is understood that
the conferees were far from satisfied
with the outlook.
This probably accounts for Mr.. Per-
kins' decision to remain in Chicago to-
day. This city is easily the center OF
the farm implement industry, and 1t is
here that Mr.. Perkins must push away
the clouds in the trust horizon. IT he is
ever able to push them away. Mr.. Per-
kins himself, positively declined to dis
cuss the affairs of the new combine.
On other subjects Mr.. Perkins was
| less reticent. He said he thought those
persons who regarded the present pros
perity of the country as menace We're
| in the wrong. He said also that he did
not believe the country had reached its
greatest prosperity. These views are
directly opposed to those expressed by
J. J. Hill and Andrew Carnegie. Re-
garding the money market, Mr.. Perkins
said:
| Money Is tight just nowhere is nc
| question about that. But feel that the
situation will be relieved very soon. No
do not think that money going into
the western country has brought about
/ this situation by any means