Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1907-02-07

THURSDAY MORNING, FEBRUARY
4 period Of a year he was the absolute
/ dictator in the affairs Of the corpora
ltfon while the McCormicks and the
i behring's, though actually shorn OF
! power, were held out to the public and
the trade as the active managers. Mr..
Perkins drilled the magnates So
/ thoroughly and well In that first year
4 that ne has since been able to relax
| his Vigilance in all but matters Of
Igreater Importance.
This activity of Mr. Perkins is Of
special significance in view Of the
fact that the plausible and soothing
/ statements issued to the public
! through the, press ostensibly from
| Cyrus Mccormick, but in reality adj
roitly framed by the resourceful
Perkins, dilated at great length to
the effect that this was legitimate
Industrial enterprise, headed by men
born and bred in the industry, that no
stock was for sale, hiatt it would not
be placed on the market or listed on
the stock exchange, and that, this
being the case, there was no cause for
alarm in any quarter. Only few
days ago the newspapers published
that ]. P. Morgan & Co. were with a
scheme for Reorganization Sssanc-
toned by j. p. Morgan, Geo. w.
Perkins and E. H. Gary, the head Of
the steel trust" that the retirement
OF several interests from the active
arrangements would result and that
the new securities issued would be
listed on the New York stock ex-
Echange.
i Getting back to the main subject,
the international Harvester Co. of
i America" is a Wisconsin corporation,
organized month after the formation
of the New Jersey corporation. AS a
matter of fact it stands on the records
4 of the Wisconsin secretary of state
as the successor of the Milwaukee
Harvester company with only a
change of name and an increase of
capital stock. Its capitalization is
one million dollars as against $780,
4 100000 of the New Jersey corporation
The aInternatio Harvester CO.
New Jersey, $4,000, 900 is the
manufacturing corporation and does
no interstate business. The "Interna.
tional Harvester Co. of America
4 1000, 000-is the selling corporation
doing an interstate business. It buys
a the output Of the manufacturing cor
poration and markets it throughout
the world. OF course this arrange.
ment simplifies the business Of the
j harvester trust and incidentally al
lows it to pay taxes in certain states
on a capitalization Of only 81, 900, 900
i instead Of on $40, 200, 900 a mere de
tail in the figuring of the financial
brains conceiving the manipulation of
4 a tremendous Industry
Before many months had passed, it
became clear that the 'International
Harvester Co of America" was forcing
it's goods upon the trade by methods
as ruthless as any ever employed by
Standard Oil to coerce the proprietors
of the little wagon routes, corner
groceries and country stores. The ex-
elusive cause in the agency contract
of the harvester trust has been
abolished, thanks to the laws of
| Texas, thanks to the law passed by
the Michigan legislature after a
stormy session in spite of desperate
lobbying by the harvester trust ennis
saries, and thanks to the protests of
| the dealers associations and the pub
lie prosecutions that were instituted
as a result of publicity in the trade
and daily press. 1t is abolished in
form only, however, as it is still en-
forced as vigorously as eyer-which
means that it is enforced in each and
levery case where the harvester trust
thinks the circumstances permit the
use Of a club to knock out an indie
pendent line and to force in it's own
goods.
You understand that the exclusive
clause provided that the dealer
should handle none but international
goods in certain lines under penalties
ranging from S. to $50 for each Of
Tense. Today the clause is not there:
but the trust salesman says, Throw
out these Independent goods, take our
manure spreader, our gasoline engine,
our harrows, our wagons, or we viii
start Blank in the business, give him
our harvesting machine agency to-
gether with our somplete line, throw
an extra force Of our best canvassers
IN here to help him and swamp you