New-York tribune., 1909-06-26
CIV. PERKINS TESTIF[Er
OPERATIONS OF HAR-
VESTER TRUST.
Deposition Taken By attorney Gen
eraI of Missouri-Ho7c the Busi-
ness Is Controlled.
LFron TIE T-thuna Rnrean

Iron The Tribune Bureaul
Washington. June 25-Elliott ". Major. At
torney General of Missouri. passed through
Washington tonight after having taken the
deposition of George w. Perkins. of J. P, Nor
gan & Co, in the suit against the International
Mr Major dictated the following statement
for The Tribune:
"I was in New York for the sole purpose Of
taking the evidence Of George ". Perkins, of
the firm of J. ?. Morgan & CO. III the custer
suit of the State Of Missouri against the Inter
national Harvester Company of America,
charged with violating its anti-pool trust and
conspiracy laws
The state secured from Mr. Perkins valuable
and necessary evidence to make case and the
state is now satisfied to close with his -evi-
dence
Among other things he squarely contradicted
the evidence of Mr Mccormick. president OF
both the international Harvester Company Of
America and its mother corporation. the Inter
national Harvester Company Of New Jersey Mr.
Perkins is himself a director in poth of these
corporations. and both corporations have the
same officers and directors. The New jersey
corporation IS the manufacturing concern and
the International Harvester Company Of Amer
ica is its selling agent
j. P Morgan & Co. through Mr. Perkins
promoted the merger Of practically all the har-
vesting machine interests in the country The
International Harvester Company Of New Jersey
merged all the properties Of the Mccormick
Harvesting Machine Company the Deering Har-
vesting Machine Company the Champion the
Plano and the Milwaukee Harvesting Machine
Company. The new corporation continues 10
manufacture the machines of these separate
companies. preserving their separate makes and
Identities. and sells them at uniform price.
and there is now no competition a to prices on
these machines and the makes Of other COM
panes it has since purchased. The new COM
pany does s. rer cent Of the harvesting ma
chine business not only OF the State Of Mis-
souri, but OF the entire United States
Mr.. Perkins admitted that the stockholders
Of each one Of these independent companies
which transferred its properties 70 the Interna-
tionsI Harvester Company did so knowing at
the time that they would be paid for the prop
ertv transferred by taking and receiving stock
in the new corporation
MORGAN & cos CONTROL.
Mr.. Perkins further admitted that ] P Nor
gan & Co. through him. controls the entire
business Of the International Harvester Com
psny. He further admitted that the new cor
poratior@ after its ersanizato ton. bought the D
NJ. Osborne Company's business because it cut
at home
He further testified that he had kept his eve
on the harvesting machine business. and that
the Mccormick Harvesting Machine Company.
with the prestige OF J. P. Morgan & Co could
have controlled the situation alone had not the
remainder Of the companies come in and trans
ferred their properties. That being true. they
can certainly control it now He further ad-
mitted that William Lane. to whom the proper
ties Of all these companies were first trans
ferred. was merely the conduit through which
the title was passed to the International Har
vester Company.
Mr.. Perkins sad he was familiar with and
controlled the business OF the New jersey cor
poration. vet did not know whether or not he
was a director in the International Harvester
Companv OF America. This seemed strange.
especially when the International Harvester
Company of America the selling agent of
the New Jersey concern and was organized by him
for that special purpose, and whatever money
the New Jersey concern received from the har-
vester business it had to receive through the
International of America
The International Of America being sub
sidiary corporation Of the International Of New
Jersey and both corporations having the same
president. we have a novel situation
president Mccormick. Of the New Jersey
concern must contract and deal with President
Mccormick of the International Of America
Which corporation derives the better bargain?
An answer is unnecessary. because the stock
holders of the New Jersey corporation get the
profits any way. and it is simply a question of
which hand shall be used in placing the money
in their pockets.
Mr. Perkins Cyrus II Mccormick and
Charles Deering compose what is called the vot-
ing trust and hold all the stock. not only of the
New Jersey corporation but also all the stock.
save $500 in the International of America.
They vote these stocks they please. and it
does not take a philosopher to solve the situa-
ton"
Mr. Major obtained Mr. Perkins's deposition
last Tuesday.
I,