New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-25
SALE HIDDEN TWO YEARS
Thomas Mott Osborne Testifies
at Harvester Trust Hearing.
DIDN'T FEAR COMPETITION
Opposed Sale of Osborne Go. Un-
til Mother and Sisters Urged
It-Perkins Fixed Price.

Testimony that the D. NJ. Osborne Har-
vester Company, OF New York. had not
been sold to the international Harvester
Company, the so-called harvester trust
through fear OF competition, and that he
had never held stock in the trust, was
offered by Thomas Mott Osborne, former
Mayor OF Auburn, in the hearing Of the
governments suit against the harvester
company yesterday.
Although Mr. Osborne said in answer
10 questions Of Edwin p. Grosvenor, spe-
cial assistant to the Attorney General,
that he had opposed the sale Of the Os-
borne company, and had been Influenced
TO II by the wishes of his mother and two
sisters, large stockholders, his testimony
was considered OF benefit to the har-
vester company.
Edwin d. Metcalf vice-president and
general manager Of the d. NJ Osborne
company, was another witness. His tes-
timony tended 20 explain the fact that the
sale OF the company to the International
was kept secret for nearly two years,
declaring it to have been for purposes Of
completing the sale.
Mr.. Osborne was the first witness. He
testified that the company of which he
had been a member, with the FIVE origt-
nally merged to become the international
Harvester Company-the Mccormick Har-
vesting Machine Company, the Deering
Company, the Plano Manufacturing Com
pany, the Milwaukee Harvester Company
and the Carder, Bushpell & Glessner
Company-controlled about 80 per cent OF
the harvester business In the country.
He said the stock OF the Osborne COM
pany was largely held by his mother, two
sisters and himself, and that for some
time previous to January, 1903, the date
OF the sale. his mother and sisters had
been anxious TO sell. Mr.. Osborne further
testified that he had wished to continue
the business, but had been led 70 consent
10 the sale by tho other members OF his
family. He asserted that he had had no
fear Of the Internationars competition.
Tho fact that the sale of the Osborne
plant was kept secret from January, 1893
to December, 1904, was the subject OK
questions by the Assistant Attorney GEN
eral. The witness explained that the Os-
borne management remained in control
during that period, and that the sale was
kept secret 10 enable the company 10
wind up it's affairs"
The Harvester company refused to buy
the assets of the Osborne company, he
declared. 30 Il was necessary to continue
the management TO collect these assets
and to protect its stock, which had been
purchased by the Harvester company
and was the only security for the sum OF
s.. 10000 in notes given, together with
81 10000 cash, by the International as
purchase price. None of the owners OF
the Osborne company received stock In
the International. the witness declared,
After ]. J. Starron, a stockholdcr OF the
Osborne company and brother-in-law
OF Mr.. Osborne, had been called 10 give
details OF the sale, Mr.. Metcaf testified
as general manager having full charge OF
the concern. He corroborated the testi-
mony Of lIr Osborne as TO the reasons
for the sale, and gave details OF inter-
Views with George w. Perkins and other
Harvester company stockholders bearing
on IT, He said Mr.. PerkiIs and others he
approached had refused to consider the
sale until the price was finally materially
reduced TO that paid.
William d. McHugh. attorney for the
defence. then asked the witness the rea-
son for concealing the sale.
He replied that the Osborne company
had insisted on the secrecy for its own
interests, and said it's advertisements
during the period in question mad con-
tanned declarations OF its independence Of
the trust, due to the fact that the secret
had been kept even from the advertising
manager.
Through the failure Of William Pierson
Hamilton, member Of the firm of j. P.
Morgan & Co., TO appear at the after
noon session with certain papers called
for on Wednesday BY the prosecution, and
at the further request OF Temple Bow
dom, also member Of the Morgan firm
and also a witness. the final hearing Of
the suit in New York was postponed to
this morning. A hearing in Chicago will
yoIIny next week