Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1912-08-14
MCCOrmicks Foil Morgan
Move to Get Harvester

was not relished in the office of Nor
gan & Co. Mr. Perkins had formed
the harvester trust in 1902. when the
McCormicks, behring's, Glessners ana
the rest were in desperation over the
cutthrOat competition that prevailed.
AS a reward Mr.. Morgan took his usu-
al commissioner auo insisted on hav-
ing a representative in the voting trust.
Win the expiration of the voting
trust, the control reverts back TO the
stock. The McCormiCks and their
alliances have got safe a majority of
the shares, and Wall street is bafflad
az its own game.
/ As a result of this divorce from Wall
street, It is expected important
changes will soon be made in the per-
sonnet of the board of directors
/ Morgan still has good representa-
ton in the finance committee, Includ-
ing Z t. Gary. George F. Baker and
Norma b. Cean OF New York MI
Ream formally Ch'Cagoan, is now
classed as one OF the Morgan crowd"
If any uf the Wall stree; men remain
in the directory IT will be by grace
OF the McCormirks.
The chief function of the voting
trust. as is Freely admitted by officials
OF the international Harvester, was
TO elect the dire ctors Of the corpora
ton. For 10 yelrs during the life Of
The voting trust Mr. Perkins, as the
nf
]. p Morgan & Co, remained, not only
as voting trustee, but was a director
Of the company and one OF the mem
bers Of its finance committee.
One fact that the officials of the
International Harvester company do
rot mention, however, is that during
these 10 years ] p. Morgan sought
by all means in his power TO acquire
control of the big corporation. His
moves were successfully checkmated
by the McCormicks and today there
is no denying that the company is
wholly in the hands OF Cyrus H. and
Harold Mccormick. the Sons of the
great inventor and founder of the
Mccormick company. Next April. pos
sibly earlier. MI Morgan's representa-
tive may leave. No ventor and found
er Of the Mccormick company would
talk on that feature Of the case.
Nevertheless. 1t is interesting &c
speculate what will happen at the mex
annual meeting That the house o.
]. p Morgan & Co. is eliminated from
the International Harvester no ont
, doubts. and one OF the general officers
) of the harvester concern admitted a.
much yesterday But what he did no
admit, because he said II was a matte
: no one could anticipate, was whethe
{ George W. Perkins would remain
director or a member Of the financ
! committee.
During the life OF the voting trust,
J, said this gentleman, the voting Tus
( tees had full power 10 name all direC
- tors because they voted all the share
n OF stock With the dissolution of tn
i trust each share owner will be fire
n 70 vote for whomsoever he likes 70
director 1t is impossible to say no,
II whether the share owners will vot
a for all the present trustees. for onl
= a part Of them, or for none al all.
i That iast proposition is hardly Xix,
q ly.' was suggested.
81 1T is not within the range Of prol
! ability. However. you are quite a
81 capable OF drawing your own dedU
Z tions as to the effect Of the dissolutio
i OF the trust as I am he replied.
& At the time OF the formation Of II
International Harvester company,
Il 1902, there were scarcely more tha