davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1908-05-08
HARVESTER TRUST HEARING.
President Mccormick Tells of Conference
with George ". Perkins.

Jefferson City. No May Taking of testimony
IN the custer suit Of Attorney General HadIey
against the International Harvester Company Of
America the allegation of violation Of the anti
laws Vas begun here to-day before Special
Commissioner Theodore Brace.
The company admits doing business in Missouri
agent for the International Harvester Company
Of Ndw Jersey, but denies that It Is violating the
state antitrust laws. The directors officers Of
the company are the same for the New Jersey
company, and stock is held by g A Deering
George ". Perkins and c. H Mccormick trustees
Cyrus H Mccormick. Of Chicago, president OF
both companies, testified regarding the organlza-
ton Of the Mccormick Harvester Company. which
was later changed to the International Harvester
Company Of New Jersey.
After testifying that he knew nothing of the OF
ganization Of q trust, Mr- Mccormick admitted
that when the International Harvester Company
was formed with his company and four other COM
panies as members with a capital OF T20009Q.
he was made president
he testified that when he consulted with George
" Perkins in regard t. charging the Mccormick
business Nr- Perkins suggested that Mccormick
sell ont saving he would finance the proposition.
Did he tell You he was going 10 take in the
other leading harvester companies?" asked At
Lorney General HadIey-
He did not but inferred much" replied Mr..
Mccormick.
Mr. Mccormick admitted that a voting trust
formed in 1902 with Charles W Deering. George
". Perkins and himself voting IN ali matters for
both the International Harvester Company Of
America and the same company OF New Jersey.
This voting trust was to continue ten years He
also admitted that the New Jersey company pur-
chased some independent harvester companies and
continued TO operate them independent com
panies in competition with the New Jersey COM
pany.
M Mccormick said tonight that he had moth
ing 70 hide. and that his people were just as
anxious as any one 10 find out if they were not
conducting their business according TO law.
New-York tribune., 1908-05-08
No PRICE AGREEMENT
ftg Iron Producers Meet. but Take
No 4ction to Stop Cuts.

representatives OF the leading pig iron manu-
-1c'0rers OF the country met yesterday in the Of
nee OF William L. Corey, president OF the United
oN"'es steel Corporation. but contrary 10 expecta-
us 'ooh no action regarding prices. The follow
ing statement was given out after the meeting:
Ihe meeting called for the purpose Of hear
s reports from the blast furnace interests of all
eloIts OF the country in regard to general con-
trade Prices Of p on aTa , the foundry iron
n-Ins oS- mere Is no agreement to maintain the
oL G Ihe country are making quotations based on
,heir cost OF manufacture and the measure of their
high mark of eight months ago and & rne
WlIhout exception below the cost OF production at
furnaces. wv" o'7' c. 7o11''elH n
Lake Superior ore are materially curtaiiing pro
I SHGoon; and from the Information received is
reduced below the price OF last year.
In view of the fact that after the last meeting
three weeks ago. Mr.. Corey issued & statement in
wn1en ne said that after full discussion It was
lHe unanimous opinion OF all present that the
present prices should not be changed" yesterdays
statement that there was no agreement to main
tan the price Of pig Von came as a surprise II
Was generally looked upon as evidence that the
gentlemen's agreement TO maintain prices had
been broken
few days after that meeting The Iron Age"
came out with a statement that there had been
considerable dIssensfon among the representatives
present regarding prices, and that there had been
d strong sentiment in favor Of a cut but that IT
had finally been decided 10 maintain prices for two
weeks, when anoeaer meeting would be held 70 dis
cuss the subject It this meeting that was
held yesterday, but judging by reports that have
heeh coming in from all over the country. Of cuts
in the price of the product and from the action of
the representatives yesterday in not rea flrrniug
prices. some OF the producers did not wait until
yesterdays conference before ordering q reduction
New-York tribune., 1908-05-08
gYRNEs ARGUES FOR MERGER.

Boston, May Before the legislative Commit
tee on Railroads to-day Tice-Prezident Timothy
Z Byrues Of the New York, New Haven & Hart
ford Railroad presented arguments in favor Of the
merger Of the New Haven and Boston * Maine
systems
Mr.. Byrnes declared that II the Boston < Maine
we're allowed 70 pass from New England control
70 perhaps some Of the great Western trunk lines
II would be q very few years before the New
Haven system, too. would go II the same way
Tra told the committee that the merger would be
largely for the benefit Of the public. An electrthca-
tion Of the New Haven and Boston & Maine sys-
-ols within twenty-five miles Of Boston would be
certain TO result Mr.. Byrnes said. from the mer
ger.
r-x-Covarro- John .. Long, Frederick P Fish.
John Shepard. Colonel Sydney Q. Bigney, George
II Mcr,14e and others also spoke IN advocacy Of
the merger
New-York tribune., 1908-05-08
JOIN TRUST COMPANIES.
Farmers Loan Directors Become
Trustees Of Franklin.

C~c'sf announcement was made yesterday that
--s Farmers Loan and Trust Company, Of this
rs--. z-5 5he Franklin Trust Company Of Brook
-7r- IS forecast n The Tribune several weeks ago
rs5 established close business connection Inter
sr-s identified with the New York institution have
s--rf-e6 a majority C rha stock or The Franklin
Trust Company \aud Edwin :. Iarston- president
oF -le Farmers Loan and Trust Company. and
ts-e@ @. Us directors. Hugh u Auchincoss, Noses
r. PINE and Charles A Peabody. have been elected
r--stees q the Brooklyn company at . meeting Of
-1e board Of directors Of tIat institution
this meeting TIE resignation OF George H.
Sou-hsrd. president Of the Franklin Trust COMPANY
O. account q Il health was accepted. Nr- South
80 IS 81 present II California His successor has
u~- Yet been selected but & said that the di-
-s--ors had e strong man IL view.
director of the Franklin Trust Company said
I-z q consolidation o. ire Two companies, and
nat [a- knez the business OF each would
- continued independently. The question Of what
should be done with the Manhattan branch Of the
rankin had rot come before the meeting either.
RS man said E- added that the establishment
close business relations between his institution
zud the Farmers Loan and Trust Company, which
t5e largest trust company IL the country could
TT fan 70 be Of great benefit 70 the former
According 20 the latest figures available, tbs
Fa-71e-s' Losn and Trust Company has surplus
and Undivided profits of t5.6Is.a57 and total de-
-1s5t= C S5szs7-2eS. TIE corresponding items for
,-- franklin Trust Company are yl,70+790 and
3 e-5zo6. respectively
i IS cl-unoniy believed y Val Street that tHe
s--z-Fe-1eur between the TWO companies amounts
practically 70 & consolidation and thereby opens
" The Brooklyn field 70 re New York institution.
New-York tribune., 1908-05-08
BUSINESS TROUBLES.

The following petitions IN bankruptcy we're heo
,-es+ar,3sz- in the United States District Court:
arr Ae-7irst the Thomas Mathews Com
- - E1 252 Madison avenue, by the London
77,I,f,, Tor77oauy which has a claim OF $3.50 on an
l,-+es+rion vhi-n II bought from EeVerley " Brit
.5.-,~i-s-- g stored with tie IhofndS Mathews
,-rr--r--r- The petitioner alleges that there are
rs.II EDITORS and also transfer OF properly TO
- -, --olr5rrs-v dissolution OF ths company and
80 Thomas + McManus was appointed receiver
pS W "a zainst John i. Edwards dry
- -,,fflfrprv No. l69 Amsterdam avenue.
g. ,Ise4sr Weller & Co and others. claims OF peti-
-...,.erz 81 gsS %, preferences are aIleeeu- .,s
Sr,-Jsrzis W. Miller carpenter and build
=. "a a. assets $751;. Joseph Jansen, OF Ne"nuIg'
La Jerome Ahrens, of No I3l West otth
fisb bifti-s $lG449 I6. assets $5.Spo 20 N
Ilr,sin stock and fixtures Sapgo ana @ aeD2 IL "a
o,z1 s~cof,nrs S-20. largest claim IsatG " aIheT'
~ No. West 2S1h street. i"r rent $''''
r,sgs Watson was appointed receiver oI me
,-.,-ssz ~ me Travellers Specially Company NO
90 T-,,o, Square West. with d bond OF S@'e9o- Inc
,s r ~. corpora1ion said 10 be worth So'9o1-
Ele,,r,, TaIr1sdee ID. was appointed receiver of
- t,zi,,e.s Of Jerome AhTens. No. 10 west "oth
- with = bond of $500 The assets OF th7
4l.sa5 ta aukrt,pu in the petition Tor the appoint
-. Of tba receiver are stated ia he SS,'oo
r,,,,,ry Sheriff Murray sold the office furniture
.+,,Tar etc ~ the Cuban Eastern ttaiir"aa 'opl-
-. of No zo Broad street, under court order.
The sale realized sA9s
New-York tribune., 1908-05-08
MINING NOTES.

-eegrar,s from Nevada state that the first train
load Of ore from The CUrbe-land-Ely mines has
hean shipped TO the Stept0e reduction works
test lzr viii be made on Friday, and regular ship
2neuts will be going forward by May i. Following
the test run with the first section Of the concen-
--4-0r on Nav 5. the second section OF the con-
O-urrator IS expected TO be IN operation by } GLe
IA and the third section by July 10. Inc sIneIttT
zsr will be in June !. ana me planL VIII
probably produce converter copper Dy JuIe 1a'
Results of an assay made Of ore from the North
F,rre Extension Mines have just been reported 70
u = Van Br-int. the president Of the company
The ore was taken from stringer. which was
struck AZ the 52I-foot level. and was only two
inches vide At the 50-foot level the stringer has
broadened two feet The ore was ts4leL, a. a.
random ana the assay shows % cents IN sold y 81
renrs in silver 20 per cent II copper, 1o12 per cent
il iron z y pCr cent n silica and d good per-
rerrage of limestone. Such ore Is selt-HLAh5-
The Barnes King Company made &sc0 over a!
expenses II March. and the report Of Manager
C.Ao-ge T HTcCree shows that things are improved
AZ The mine. During March the mine worked at
FI7T time with Two shifts OF men, or WIoul % Per
cent were engaged Development and DEAD Work!
y-Ffle = re- cent were extracting ore ne MN
worked steadily and milled 5655 tons Of ore win
bullion Weld 1.7eI fine ounces. for whlch me
-rifed states Assay Office paid S25521, less assay
ing charges OF $l29. The silver ran better tnan
New-York tribune., 1908-05-08
TRACING SECURITIES
Mcintyre Receiuer Partly Success
ful at Hearing.

Examination OF the bankrupt brokerage firm OF
T. A Mcintyre & Co. continued yesterday before
Commissioner Gilohrist in the Federal Building
with John G. Mcintyre, the Stock Exchange
ber OF the concern. the principal witness. ".
Wager, assistant cashier of the Consolidated Ma
tional Bank told Charles c. Birmingham the Nc
Intyre receiver. about two loans, for S5,n0 and
5000 that his bank made to the Mcintyre firm.
On April q. the date of failure firm owed
the bank therefore ssc 0oo which was amply secured
by stock collateral Most of the latter has been
sold by the bank to satisfy the loan. However.
some OF the stock still remains unsold consisting
chiefly of Missouri Kansas & Texas preferred and
common and bonds Of the same corporation
John G. Mcintyre said that he had only so IN
bank and an automobile. He said ne knew nothing
about the workings OF the office His copartner-
snip agreement. he explained gave him $4,000 a
year enc an interest in the business But" he
said L didn't get the $1,000: IT only credited
10 me drew about $500 500 month
In the examination Of Mr.. Wager 1t was de-
Veloped that T A Mcintyre & Co. had April
Il q balance OF 8, 80 with the Consolidated Ma
tional Bank. and that day before the assignment
the firm deposited s1S.oD In checks with the bank.
All or this amount with the exception Of 1900 was
unpaid and the checks returned protested The
checks were drawn the firms out-of-town Offices
and on them the firm obtained d certifcs-
usn Of check for $1,000 although its actual bal
ance was then only s2.13O The bank claims
lien for Sls00 against the stock collateral OF the
SO 900 loan.
Ht- EKaSIs counsel Tor the receiver declared tne
sS,oo3 certifcation irregular and part o. simple
series of check kttns.'
John G. Mcintyre told Nr Ernst that he did not
know until the day of the failure that the
was in bad shape. Then Mr.. Ryan, OF his
partners asked him 10 sign the assignment papers,
and he dd K. Mr. Mcintyre refused to give the
name Of the person who had account No. 90 with
the firm He said that it a private affair. but
Commissioner Gtlchrist decided that he must tell.
The witness then gave the nan1e CT Brandt Walker.
Mr. Mcintyre said thes IN . box that hs had in
safe deposit vault were shares which he
owned jointly with his father. but that he owed
his parent about S4O0 above his interest in the
stocks.
The hearing adjourned until Monday, when
Thomas A Mcintyre. jr, will be witness
Mr.. Ernst announced yesterday that he had
found at the Corn Exchange Bank securities worth
s18500 belonging 10 Mcintyre & Co. against which
there was claim of 1850 He viii pay the latter
amount the bank and obtain the securities.
New-York tribune., 1908-05-08
STOCK BROKERS FURIOUS.
Mcintyre Denies Remark About
Hyp0tbecQting Paid Securities.

There was universal indignation yesterday among
the officials and members OF the New York Stock
Exchange over the alleged statements OF Thomas
A Mcintyre, head of the suspended Stock Ex-
change firm of T a. Mcintyre & Co, who was
quoted saying that all brokers hypothecated
for loans the stocks bought outright for clients
sent to them for transfer That such practices.
which contrary TO all conceptions Of legitimate
business. in vogue among members Of the Ex-
change ernphatfcaQy denied all sides.
I. s. Ormiston, Mr.. McIntyres counsel said he
had been requested by MI Mcintyre to say that no
such remark had been Intentionally made by him.
that such not all the fact that II any fully
paid stock was by oversight at any time mingled
with the stock bought on margin. and so hypothe
Gated by any house, such would be at once
corrected upon its discovery by his or any other
Stock Exchange firm
Irving l. Ernst, counsel for the receiver IN the
Mcintyre bankruptcy case, said, commenting on
Mr.. Omissions remarks
The securities were hypothecated Of that
there is question, and there can be no denial
Whether Mr.. Mcintyre intended TO give the i'm
preston that such hypothecation the practice
Of his and other firms the fact is he did give such
impression. II It was oversight for $500, 600
worth Of securities to go out in that way. and he
is willing TO correct thai oversight don't believe
viii object"
The governing committee Of the Exchange held
special meeting after the close OF business and
though no official announcement was made it was
learned that q drastic investigation would be
started once George ". Ely, secretary Of the
Exchange. said:
Tt is absolutely untrue 10 say that It is the Gus
tom among brokerage houses to hypothecate
curities belonging to customers No such
tom prevails among members OF the Stock Ex-
change. On the contrary, any such action would
be reprehensible and subversive OF all honest bust
ness dealings.
1T IS the custom of members receiving for
safe keeping securities belonging TO customers TO
place them in envelopes and, after carefully mark
ing the owners name thereon. 10 put them IN
safe deposit vault. where they remain until delfy-
cred 10 the said owner.
The recent failures VIII be investigated by the
proper committee OF the Exchange prao-
ticable-'
Several members OF the governing committee
fused TO believe that Mr. Mcintyre had made the
remarks attributed TO him mo Stock Exchange
house" said one prominent broker, would dare
practise such dishonesty for, II caught, it would
mean expulsion from the Exchange"
New-York tribune., 1908-05-08
Foreclosure Sale.

SUPREME COURT, COUNTY OF NEW roEK-IiH1
- Maxi11ihan Fleischnaann Conpan{ plantiiI' asA.s-
pursuance a Judgment OF foreclosure and sale.
duly made entered IN above entitled action and
signed the referee in said Judgment named. viii sell
public auction. the Exchange Salesroou Nos 1tld
Xesey Street in the Borough OF Manhattan City OF New
day. Joserh P auctions>r. the premises
directed by said Judgment to be Sold and therein de-
All certain lots pieces parcels ot land
with the buildings improvements thereon erected.
situate lying and being IN the Borough OF Manhattan OF
York bounded described $ follows:
tor str4t - feet "a SbP frhs, no-tbsrIy -, -,
by the intersection OF norhsy sids
Barclay with saseriy side of Washington
Washington street thence ssstery.
right angles nearly with Washington Street and
southsry parallel nearly with wash
ingoG Street and along land OF Laura ' Rhi1eiander
t"enyoue feet inch; thence westerly AZ right angles
nearly to last and along land OK Mary r
tnches tire sastery side ot
washington Street the point or place OF oeslnnlns
Said being by the street nuua0er two
hundred and tweutyssven washington Street, and sso
Beginning formed by the intersection
the norhery Barclay street with the eastery
side CT Washington Street. running tasncs north>riy
song easterfy washington Street for-yons
nearly 70 Washington Street and land OF
Mary I. GaIIasn eighteen inches: shenos
along late OF Gertrude r Walto forty
eight feet five inches TO The northery side % Barclay
Barclay Street and ouehaIt inches
point place beginning said premises being
number eishtyssven Barclay street
Dated New York. March 23d, 1903
TERENCE J. NoMANUs. Rsssr.s.
FREDERICK S. JACKSON. Attorney for Piaintir. No
Madison Avenue. Borough OF Manhattan, New YORK
TIE following diagram q property sold;
ies numbers No 227 Washington Strss< AID
No 81 Barclay Street;
New-York tribune., 1908-05-08
FREIGHT RATES TO RISE
Railroad Presidents Tell Freight
AGENTS TO Go OUer Schedule.

-, conference OF presidents or railroads east ~
"a mississippi and north OF the Ohio River which
- heer considering sn increase in freight rates
.s,,--ed yesterday after fnstruct9ng the traffic
-sesrs OF the various roads 10 go over the
..sules carefully and arrange the details for an
-ssss This viii take FIVE or six months Then
=, zo-k O. the traffic managers Will be submitted
: s,other meeting o. the presidents before the new
.-.s are placed in force
.-org the presidents At the meeting held In the
@,ss O. tEe Trunk Line Association. No. A LIB
- street. yesterday, were E H Hartman, James
..0-es of the Pennsylvania: w H Newman. Of
--s New York Central: F. A Delano, Of the Wa
s.ss: z n Underwood. OF the Erie: Charles NJ
7ssyas @ the Grand Trunk; Oscar 6 MURRAY OF
..s Baltimore & Ohio; w. H TruesdaIe, OF the
-sessva-na: T. 3. Thomas. Of the I,ehirh Valley.
-.o-re ?. Rser. or the Reading and L T Ioree
n he Delaware & Hudson There was some DIFF
,.rsros Of opinion TO the extent OF the proposed
-,--esss rates and as to the time when Il should
,,ke erect. but there was general agreement that
re freight tariffs needed rsadJustrnent and that
substantial Increases should be made n most cases
-hst there viii be horizontal increase Of any
certain re1ce1tsse is denied by ell
vsr5o-s organizations OF business men have
s-s-red 70 consider the proposed increase in rates
some q them are opposed 10 the entire proposi-
mn and the prevailing sentiment seems 10 be that
r+stsver Justification there may be for any in
crease should be put into effect At this time
the --S- O Lne year ne opposition may not be
50 great L Is argued The meeting OF the railway
transportation committee Of the Board Of Trade
md T-zus7o--ztion. which was 20 have been held
-ssr@rday - discuss increase il freight rates was
rss-p.ouec Ir5l Monday.
Freight" 6 periodical which aims - represent
slippers class, IN editorial in the current
number depreCateS any advance IN rates at this
tine tending 70 arouse antaEonisr1 70 corpora
-=1GS The actual increase il freight rates would
- SO small probably as 10 sffect few shippers
seriously along financial lines says Freight
-1ur -he moral effect OF the increase would be
little short OF disastrous
The scale now prevailing, with New York - Chi
csso IS bases divides rates into six classes at
frou > cents 10 2 cents ton The advance most
favored calls for increase 70 = cents zs the
uszi--u7l and q cents the minimum
New-York tribune., 1908-05-08
FIND MANY GAS METERS TOO FAST.
?, s. c. Inspectors So Report More Than
Half Of Those Tested.

Investigation of meters April By inspectors
OF the Public Service Commission complaint
shows that of the 651 meters 21 or more
than IS per cent, were found too hasty in regis
tering the consumption Of gas. The inspectors also
found ia working too slusgtshiy. Only rs. or
about II Per cent of the entire number tested.
were found 70 be correct The average excess
speed at which the 961 meters were found working
was 2o per cent The slow meters averaged So
behind the proper pace.
With the completion OF these tests 5,o1s meters
had been examined on complaint Up 70 April so
since July 1907 when the commission took Office,
Besides the so-caIled complain meters there
tested last month 7,4sS meters and 2, $40
repaired and removed meters. making a total for
April of 3077e. The total number Of meters tested
from July /, 1907 to April 30 last was 1906
New-York tribune., 1908-05-08
FRIVOLOUS, SAYS P. r r ANSWER
Pittsburg Produce Dealer Alleges the Road
Charged Different Rates

Pttsburg, May THE Pennsylvania Railroad
Company to-day fled its answer the suit OF
Robert Bacon, g produce dealer, have estab-
Hshed q uniform fare between P1ttsbyrg and Ger
tain points in Ohio The bill alleged that Bacon
had been charged different rates Of fare at differ
ent times between P1ttsburg and points In Ohio
and asked that the excess fare be refunded and
that the company be required to establish g UNI
form rate.
The answer alleges that the fares charged BE-
tween the points named just and reasonable
and in accordance with the legal rate hxed by the
Interstate Commerce laws. The answer denies that
the lawful rate Of charge mile is cents in Penn
sylvania. Ohio. Indiana and Illinois as alleged in
the bill The answer characterizes the bill a.
New-York tribune., 1908-05-08
TALK or TRUST CONCERNS CLOSING.

It was learned yesterday that at the dinner given
by Alexander Gilbert president OF ths Clearing
House Association to the presidents OF the Clear
ing House banks at the Union League Club on
Wednesday night there discussion regarding
the advisabuity of admitting the trust companies
to associate membership, as suggested By William
A Nash president Of the Corn Exchange Bank, but
that no definite course OF procedure was decided
upon The chief point Of the discussion concerned
the terms upon which the trust companies should
be admitted some Of the bankers being OF the
opiniou that the 10 per cent reserve basis under
which it was proposed to admit them 70 Clearing
House privileges was Inadequate
New-York tribune., 1908-05-08
rx-eNs,oNs OF MERsEY DOCKS.

Tjverpool May Owing 10 Increased traoe WIN
,,a-iCa compelling greater dock facilities the
ATarsev Dock Board has approved plans for er
tensions to cost s6.o0o"'o The above increased e1
- &c rartIv due to the fact that the White
ctar line contemplates building. within the next
- two vessels nearly thousand feet long.
;rba extensions are, therefore, necessary to ac-
.oraDodate these leviathaIs-
- reT,ains somewhat OF a mystery how
=, lots are TO DO accommodated in New York
tIsrbor unless the bulkheads along the North
- are 10 be likewise extended in the near
New-York tribune., 1908-05-08
WANTS REBATE FINE COLLECTED.

When the New York Central, or October 1s. 1906.
was fined s1o20O for rebatfng. Frederick l. Pome-
roy Jointly indicted with the railroad company,
WAS fined 5000 The Central got stay Of Judg
n7ent for sixty days, and meanwhile Pomeroy died.
so Judge Holt declared the judgment against Pore
rov- invalid United States Attorney Stinson ap
pealed in the Pomeroy case, and argument was
heard yesterday by Judges Lacombe, Ward and
Moves Mr Stinnson asserting that the fine was col
I.ctable from the OF the PomeEoy estate