The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1913-11-06

company was organized But now
ten years of action have followed
ana We have a record of perform
ances aud achievements to submit m
meeting the charges of the govern
ment
Secured Perkins Services.
when Mr. Mccormick went to
Chicago in 1902 to enlist ]. p. Nor
gan & Co. TO aid him in getting
capital to extend the foreign trade
OF the Mccormick company, he met
Mr.. Perkins, a man who was in
valuable for exactly the sort of
thing Mr.. Mccormick desired.
Mr. Perkins experience and train
iES as western man had made him
thoroughly familiar with the great
agricultural situation in this coun-
try. Then, later, Mr. Perkins eX-
perience in Europe had given him
comparative knowledge of agricul-
tural conditions there.
"Mr Perkins declared no one of
the existing companies was strong
enough in capital, credits, and men
properly and adequately to realize
the possibilities of the vast foreign
fields. Then he started to get in
terests to form this concern, strong
enough to go into this field When
he started, he had in mind no par
ticular companies, aside from the
Mccormick Company. Now he went
to many different companies in seek.
ing the material he desired; MS
mind was perfectly open on that
point"
Then Judge McHugh told the epic
of the great Harvester concerns
organization and its expansion at
home and abroad, sketching it rs
one Of the greatest factors in the
settlement of remote countries.
capitalization or Concern.
"One hundred and twenty millions
of capital were put into this con-
Germ, he said, "and of this amount
one-half, $6O,OOOOOO of stock, was
issued for cash. The rest was put
aside to cover the properties of the
various large concerns that went
into it.
Now, desire to impress upon this
court that this $6O,OOO,0OO in prop
erty actually existed. The most
elaborate, the most thorough ap-
praisal ever made in this country,
was made on the properties of the
firms about to enter the Interna
tiona, Harvester Company.
And what was the result? II |
was found that these properties were
worth more than $60,0OG000. more |
than the stock issued to coYCr them |
Then the appraisers again went 70
work. shaving down here and there |
on the properties and stocks of the
concerns involved, until the total
amount had been reduced to meet !
the S6O,OO0OOO figures.
Three million dollars was paid |
Mr.. Morgan as a commission Even |
this S3O0O,OOO had tangible assets
The company absolutely was organ
lied on an honest basis, With every !
share Of stock worth more than is
face value
Attacks Governments Charge.
Judge McHugh then attacked the /
charge that the sub
iect of foreign trade was an after
thought. He declared that the nam.
ing of the company was done par
ticularly with view to the matter
of foreign trade
Edgar A. Bancroft of Chicago, gen |
eral counsel for the International
Harvester Company, followed Judge
Mcflugh in ma argument for the
McHugh in an argument for the
attack on the department of jus
tees brief in the case; said there
was no evidence to sustain six of
the seven charges in the brief AMI
alleged that five of the charges
had been dropped out of the case
and had not been mentioned. He
said there had existed for ten years
complete openness in the Harvester
machinery field and the field could
not be closed or monopolizeG.