The Birmingham age-herald., 1912-09-18
Made S15O,0OO Profits on
 Hundred Million Sales
HASKINS ON STAND
Original Agreement Between Perkins Mccormick and Deering Presented by the Government, Dated
 August 12, 1912

Chicago. September 17-Although it sold s100 0o0,oCC worth of farm implements. the International Harvester Company of America last year made only s150.ooo in profits, or .15 of l per cent, according to R. c. Haskins, the president who tes- tified today before a special examiner in the government suit to dissolve the corporation.
 Questions were asked by government attorneys to show that the International Harvester Company of America was mere ly the selling agency of the International Harvester company of New Jersey and that the latter company was to make all the money.
 'Is it not your object to buy from the New Jersey corporation at such a price as will enable 1t to sell so that you will have neither loss nor proft?'' asked Edwin P. Grosvenor special assist ant attorney general.
 Want to Buy Cheaply
 Our object is to buy as cheaply as we can and to make as much as possible. We try to buy from the New Jersey company at prices we would get from any other company" replied Mir. Has kins.
 But you never have paid dividend?"
 NO, we never have"
 Most of today's session was devoted to describing the technical features of farm implements. MT. Haskins related the methods of sale to farmers in answer to the governments charge that as a. trust the harvester company maintained prices Ito the serious injury Of the farmer"
 The witness said the company sold to agents with a per cent discount for cash and the agent, by adding his profit. determined the price the farmer was to pay. One reason. Mr. Haskins, ex- plained, why the sales company made only S1500oo while it sold $l00, 600 worth of implements, was that it was constantly expanding it's business and expending largs sums for advertising.
 Funk on the Stand
 Analyzing the business of his compet- itors, c. S. Funk. general manager of the International Harvester company, to- day in the governments antitrust suit against that corporation, testified there was hardly farm implement in the man. ufacture of which the company was in- terested could be exempted.
 He said prices were pooled to the se- rious injury of the farmer The witness declared there were three to 75 firms man. ufacturing farm implements.
 Grasshoppers and crickets cost the har- vester company more than $4000,000 an nually, MT. Funk testified. He said the company had tried to produce a superior binding twine out of flax He said there was so much sweetness left in the twine that the grasshoppers and crickets feed ing on it became a pest. He added mill lions had been spent in experiments fin an effort to furnish suitable twine.
 Attorneys for the government presented what purported to be an original agree nent by which George w. Perkins, Cyrus H. Mccormick and Charles Deering formed voting trust which placed them in absolute control of the $140.00O,O0O cor poration. The agreement, dated August 12, 1912, was for 10 years. It expired only Q few weeks ago. It was introduced in testimony to show that these three men had had turned over to them all the stock so they had the sole voting power of the corporation.
 Another exhibit purported to show that MT. Perkins was chairman of the cor poration's finance committee and that of the six members of that committee E. H. Gary, Norman B. Beam, c. F. Baker and Mr. Perkins were directors fin the Steel corporation and members of the Steel corporations finance committee. An other exhibit tended to show that MT. Perkins Cyrus Mccormick and Charles Deering held all stock of the Interna- tional Harvester Company of America. the selling company of the International Harvester Company of New Jersey.