Norwich bulletin., 1911-12-27
s5OO,0OO,OOO
 Beef Merger
BIG SCHEME OF CHICAGO PACK
 FRS FELL THROUGH.
UNABLE TO FINANCE. IT
Attorney for Swift & Go. Makes Rev. eiatisn at Trial of Ten Beef Packers Held Meetings Every Tuesday.

Chicago, Dec. 26.-Details of the plan for a S5e0,000,009 merger of the Ar mour, Swift and Morris interests in 1912. by which the government con tends it was sought to control the meat industry of the country, were re- vealed today in the trial of the ten Chicago meat packers before United States District Judge George A. Car penter.
 Contract Dated May 31, 1902
 The contract which was dated May 51, 1902, was read to the jury and offered in evidence by counsel for the government. The original agreement was produced in court by Albert H. was called by the government as it's first witness.
 The Plan Abandoned.
 Attorney Veeder testified that the plans for the merger were abandoned and that in March, 1903, the National Packing company was organized to operate certain independent packing companies purchased with view of including them in the big company.
 Terms of Agreement.
 Under the terms of the agreement, the three large packing corporations and their subsidiary companies togeth- CT with recently acquired independent companies, were to be merged into che concern Armour, Swift and Morris were to receive bonds and preferred stock of the new company in payment for the value of their tangible prop ty. In addition to this the promoters were 10 receive S25, ,00o, 900 worth of the new conlpany's stock for intangible property and large block of common stock for their good will. this amount to be fixed by the earnings of the diff ferent plants during the first year of the new merger.
 Fell Through from Lack of Funds.
 The promoters planned to borrow S90.000,000 to finance the corporation. The appraised valuation of Armour Swift, Morris and their subsidiary companies was given at S1S0,00O. 900. Each of the three, promoters deposited $1,000,000 with a Chicago bank as an evidence of good faith, but they were compelled to drop the plan because of the failure of certain New York cap ftalists to furnish the funds needed. Veeder was on the witness stand throughout the day and will continue his testimony tomorrow.
 Immunity Plea Again.
 Previous to the calling of Veeder to the stand the defense made an un- successful attempt to have excluded from the governments case all tran sections prior to 1895 cn the ground that the immunity plea which freed the packers when they were indicted period.
 Fackcrs Met ENery uesdzy-
 Counsel for the packers put their motion in writing. but Judge Carpen- ter while reserving his decision to give the governn1 ent time to reply. indicated that he would deny the motion. Weed CT, at the beginning of his direct ex- animation, admitted that the packers he'd some sort of an organization which met every Tuesday afternoon in Ehe Counselnaan building. Chicago, on the same floor with his law office. and that his son, Henry Veeder. acted as secretary in 1900. 1901 and 1902.
 Fixing of Meat Prices.
 He did not know the name of the association and he did not know what business was transacted at the meet ings Neither did he know where the books and records of the meetings were kept. The government contends that at these meetings the prices of meat were fixed and plans discussed for the suppression of competition. Veeder admitted that the Kenwood company was organized in his office but said he was not present at the time.
 The witness said he had heard that