The Cairo bulletin., 1911-12-27
LAWYER RELATES
PLANS OF HUGE
PACKERS MERGER
National Packing Co., Formed To
Operate Independent Firms
Says Meeker
PROMOTERS RECEIVE STOCK
Admits Packers Had Organization
That Met Every Week To
Fix Meat Prices
PROMOTERS RECEIVE STOCK

Chicago, Dec. 266-Details Of the
plans for five million dollar merger
Of the Armour, Swift and Morris in
terests in 1902, by which the govern
mont contends, it was sought to con.
troll the meat industry Of the coun-
try, were revealed today in the trial
OF the ten Chicago meat packers
before United States District Judge
Carpenter.
The contract, which was dated
May 81, 1902, was read to the jury
and offered in evidence by counsel
Tor the defense. The original agree
lnent was produced in court by Al
bert H. Veeder, lawyer, who was
called by the government as it's first
witness.
Veeder testified that no plans fer
the giant merger were abandoned.
and that in March, 1903, the Ma.
tional Packing Co. was organized to
operate certain independent packing
companies, purchased with a view Of
Including them in the big company.
Planned Huge Merger.
Under the terms of the agreement
the three. large packing corporations
and their subsidiary companies, to
gether with recently acquired inde-
pendent companies, were to be
merged into one giant concern
Armour, Swift and Morris to re.
ceive bonds and preferred stock Of
the new company in payment FIR
the value of their tangible property.
In addition to this the promoters
were to receive 25,000,000 of the
new company's stock for their tangi-
BILE property and a large block of
common stock for their good will.
this amount to be fixed by the earn
ings of the different plants during
the first year of the merger.
The promoters planned to borrow
$50, 100000 to finance the giant co.,
poratlon. The appraised valuation
of Armour, Swift and Morris, anil
their subsidiary companies, was civ
en- at -$1SO,0O0.
Spends Days on Stand.
Needer was on the witness stand
throughout the day, and will con-
tinue his testimony tomorrow.
Counsel for packers put their
motion in writing, but Judge Car
penter,, while reversing his decision
10 give the government time to re-
ply, indicated that he would deny
the motion. ..
Veeder, at the beginning of his
direct examination, admitted the
packers had an organization which
met every Tuesday afternoon in
building on the same floor with his
. law office, and that his son, Henry
Veeder, acted as secretary in 1900
l9oland 1902. He said he never at.
tended any of the meetings. He
said books and records OF the meet
ing were kept but he did not know
where they were now.
Fix Prices at Meetings.
The government contends that II
was at these meetings that the nric.
OF meat was fixed, and plans dis
cussed for suppression of competi-
tion.
Veeder was questioned regarding
the Kenwoo1 Co., and the Etna
Trading Co., but professed ignor
ance of their business. The witness
said that he heard that at pool
meeting the different companies anp|
the territories allotted to them, were |
designated by letters.
He said territory "a" was north
OF the Ohio river and east of the
Mississippi. He said Armour was
known as "A' among the con
panies. He did not know the let-
ters used to designate the other
members Of he alleged pool.
he said tho association of pack
ers was dissolved in 1903 and his
son, who had acted as secretary, was
taken into his law office. as a part
ner The witness said he first be
came attorney for e. F. Swift in
1855, and that on different occasions
had served as director for Swift g.
20, and several Of It's subsidiary
companies.