New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-08-15
C. v. PERKINS TO Retire
Will Curtail Activities to Devote
Time to Sociological Matters.
WOULD AID THE COUNTRY
Says Time Is Ripe for National
Movement as to Problems of
Wage Farmers and Investors.

/ his time to corporate work and matters OF
public nature in which he had become
deeply interested, announced yesterday
that in order to give still more Of his time
! TO these and kindred subjects he intended
a. soon az possible TO further circum-
scribe his business activities.
M Perkins. VINO had just returned from
/ Washington. where he was the chief wit
ness last week before the House committee
investigating the Steel Trust. gave out the
following statement regarding his plans:
Newspaper editorials and numerous let
/ tiers I have received seem 10 snow "lur
( spread interest IN the country . lmmcoidle
I need OF p constructive business polcy.
| Men In public life IN Washington last week
expressed the thought that perhaps tue
time had arrived 10 look broadly INTO me
business questions before the country. ne
| time would seem 10 be ripe Tor some soTl
Z Of d national cooperative movement 10 de-
/ velOp. al least TO some degree. me views
0f our people OF the problems Wnlch col-
front us and their bearing upon wage
T Gamers. investors ana consumers as wen
! as our domestic and foreign trade. 40"
best 10 form some such co-operaiiVe as
/ ISOLATION is beng made the subject OF cor
/ raspOndence.
I am 80 deeply interested in this and
I kindred questions that. IN order 10 give
them even more time than contenpiaal Gu
: when I retired from the banking business
/ last January. 10 IS my intention. az soon
a possible TO dissociate myself from still
other Of my business connections
Nj Perkins declined to amplify his
statement or &c say which Of the numerous
I corporations with which he IS connected
he intended 10 get out Of ~ IL thought in
Wall Street. however. that the United
States Steel Corporation and the lnterra-
tional Harvester Company will be among
the first from which he will withdraw. as
his duties as a director and member Oh
the finance committees Of these two COM
panies require a great deal Of his time.
Wants Sherman Law Repealed.
: In addition 20 these two corporations. Mr..
Perkins is director Of the International
Mercantile Marine Company, the Northern
Pacific Railway Company. the Northern Sc
curities Company. the National City Bank.
the Bankers Trust Company. the Cincin-
matt. Hamilton & Dayton Railway the
Pere Marquette Railroad. the Marquette &
/ Bessemer Dock and Navigation Company
/ the German American Insurance Company
and a number Of smaller companies. He is
I also one Of the three trustees OF the EGui-
[ table Life Assurance Society stock owned
/ by J. Pierpont Morgan, which carries with
/ IL control Of the company, and a trustee
OF the New York Trust Company and OF
/ Vassar College.
While Mr. Perkins did not say 50 in hts
/ statement. Il Is believed in financial circles
/ that he intends 10 devote some OF his tine
/ in the future toward a movement looking
/ 10 the repeal Of the Sherman antitrust law
and the enactment In It's place Of laws less
drastic IN their nature This belief Is based
upon Mr. Perkinss testimony before the
! House committee last week. in which he
/ said that existing laws were seriously
threatening big business interests. and that
/ their rigid enforcement was rendering IL
/ impossible for corporations 70 continue
/ operations.
The announcement that Mr. Perkins in
tended 10 still further curtail his business
activities in order 20 devote more Of bis
time 70 the business and sociological ques-
tons before the country did not cause
much surprise in Wall Street. his retire
ment from the Morgan firm having led the
Street 10 believe that sooner or later he
would retire from business altogether. His
statement Yesterday was. therefore. re-
garded as only second step in this direc-
/ lion. and il is thought that in the not dis
| tant future he viii sever all connection
with private enterprises and devote all his
activities 20 helping the country solve its
/ business problems.
In Favor Of National Control.
Alr. Perkins has for several years devoted
considerable attention TO the subject of
/ Improvement Of the relations between capt.
tai and labor. and among the results q MS
efforts I'm this direction arc the profit shar-
ing plan Of the United states steel COR
porat!on and the profit sharing, insurance
and pension plan Of the International Har-
vester Company, both OF which are his
handiwork
In public addresses he has frequently eX-
pressed himself in favor of national con-
troll. with publicity. as the solution Of the
problem of regulation Of the modern cor
poration OF vast size Ilr. Perkins has
recently. both I'm public addresses and in
bis testimony before the House committee,
urged a stable Interpretation - the law
regulating corporations. which, he said.
would relieve business Of its present un-
certainty. He believes that, instead OF
seeking only 10 destroy the biz corpora
tiors. the government should undertake
someth.ae Of a constructive nature with
reference 70 their control. so that what ia
good I'm them NAV be preserved, ana ONLY
what Is bad eliminated
Mr.. Perkins has not confined HIS public
activities 20 lectures on business and socio-
logical subjects; ne is president of the
Palisades Interstate Park Commission.
which has stopped the destruction Of the
Palisades and has acquired the entire face
NJ them from Fort Lee % Nysck. and has
taken part IN other enterprises Of benefit
~ the public at large.
Like Henry q. Frick. who . was an
nounced last week had begun 10 lessen MS
business activities By Withdrawing from the
Union Pacific ana two Of its subsidiary
railroads Mt Perkins Is enjoying the best
OF health He is stil On the prime OF life
and unlike AR Frick whoris understood
10 DO retiring in order 70 devote more time
% pleasure and art Nr. Perkins expects
70 work harder than ever i~ the new field
Of labor he has picked out FOR himse.-
His fortune IS estimated at a good many
millions Of dollars.
Mr. Perkins began the business career
which ie now drawing 10 a close al the
mr. OF fifteen as an office boy in the en-
NAV If the Chicago branch Of the New
York Life Insurance Company. He was
steadily advanced. and in 1891 when he be-
came a partner Of J. p Morgan Co, he
had risen 10 be second vice-president AZ
$1,000 a year