The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1911-12-29
WITNESS TELLS
SECRETS OF BIG
PACKERS TRUST
LORD PENMURE WAS FIRST MAN
TO SUGGEST A MERGER OF
AMERICAN MEAT PACKERS.
Swift, Armour and Morris Favored
Plan, and Scheme Was Worked Out
in 1so2-other Inside Facts Given.
Capital of 1928, 100000.

Chicago, Dec. 2S.-Lord Penmure
Gordon, an English promoter, first
suggested the merger of packing cor
porations in the United States at a
capitalization of 100000, accord
ing to Albert H. Veeder, who today
continued his testimony in the trial
OF ~he ten Chicago packers.
The English financier visited the
United States early in 1902 and after
directing the merger of several Amer
lean industries, called on Gustavus
Swift and suggested a consolidation
of the packing companies. Several
months later at a conference of Chi
cago packers, preliminary plans for
the merger were fixed.
This meeting was attended by Gus
tavus F. Swift, J. ogden Armour, Ed
ward Morris and others.
1t was the third day of testimony by
Veoder, who is attorney for Swift &
Company
Was Report Ever Made?
Was the final report of the ap-
praisers and expert accountants on
the value of the tangible property of
the promoters of the big merger ever
made?" asked Special Counsel Butler,
resuming the direct examination of A.
H. Veeder.
The reports were not completed
until after the big merger had failed,
and each member received a report of
its own business" replied Mr.. Ves-
der. 4t>- g.. 8
Where were the meetings held at
which plans for the big merger were
discussed?"
Mostly at my Office, but at times
we met at the homes of the princi-
pals"
who attended those meetingsr"
Various representatives of the
packing interests. J. ogden Armour
was represented by Arthur Meeker, Pa
A. Valentine or Attorney L. c.
Krauthoff. Gustavus F, Swift, Louis
F. Swift and Edward F. Swift repre- /
sented Swift & Co.; Michael and Ed :
ward Cudahy appeared for the Cudahy.
interests, and Edward and Ira Morris
represented Morris & Co.," replied
Mr.. Veeder. 4 A AgM
Suggested in 1902.
When was the subject of the bis
packing merger first suggested?" I
early in 1902 Gustavus F.. Swift
first mentioned it to me. Lord PEN
mure Gorden had met G. F. Swift and
suggested that the packing compaA-ieS
in, the country be combined.
"His suggestion was that the stock
of Chicago packers be bought at 200
and paid for N stock of the new COM
pany. Mr.. Swift was impressed with
the general idea of consolidating and
a meeting was called in May 1902,
at which the subject was considered.
"All the packing interests were
represented at that meeting"
WAS there no agreement made by
the Chicago packers for a merger
prior to May 81, 1902" asked Attor-
ney Butler.
Not to my knowledge" said Mr..
Veeder.
The witness then described the ne
gotiations which led to the purchase
by he combination of several packing
companies.
Counsel for the government expect
to complete the direct examination of
the witness before the close Of the
day.
1t is believed that the cross s-exami-
nation of the witness will be exceed
ingly brief, as he has been an un-
willing witness during his three days
occupancy OF the stand, because of his
close business relations with the de-
PENDANTS.
The next witness to be called by
the prosecution is Henry veeder, son
of A. H. veeder, who acted as secre-
tary Of the old packers pool in 1900,
1901 and 1902.
He viii be questioned regarding the.
business transacted at the Tuesday
afternoon meetings OF the old pack.
ers' pool, known only by the name Of
''Postoffice Box No. 247," at which
sessions the government contends the
prices Of meat were fixed.
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