The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-06-21
TELLS
STORY OF TRUST
GIVES HISTORY OF THE FORMA-
TIox OF INTERNATIONAL (.
HARVESTER co.
NO WATER IN ISSUES
FORMER BANKER ASSERTS THAT
HE THINKS SPECIAL GOVERN
WENT EXPERTS LACK KNOWL-
EDGE OF IDEALS"

CHICAGO, June 20-As George
W. Perkins. former partner of the
late j. P. Morgan, viewed 1t from the.
witness stand in the international
Harvester company's antitrust hear
ing today. Edwin P. Groswenor. attor-
new for the government, knows but
little of deals"
The particular deal in question
was incidental to the formation OF
the International Harvester company
"a project fathered by Mr. Perkins),
particularly with regard to witness eff
forts to purchase the Mccormick.
Deering, Plano. Osborne and Milwau-
kee Harvester companies. Mr.. Per-
kins, under cross examination by at
torney Grosvenor, stood by his testi-
mony that these concerns were under
consideration, but not these alone
THE title was successfully trans
ferred in the case OF four of the COM
panies on the same date. wasn't it?"
suggested Attorney Grosvenor.
mo. sir; not in the way you want
me TO say / was working on the
propositions simultaneously, but ]
think they were not brought to con-
illusions on the same day"
Contracts Signed Same Day.
The government lawyer said the
four contracts were ali signed July
2S. 1902, and Mr.. Perkins explained
that a deal might be completed with
out anything being actually put on
paper. That was Formally.
Didn't you get all the men together
and discuss the proposition" per-
sisted MIR. Grosvenor.
That" replied the witness. with
emphasis, would have been the last
thing in the world | would have done.
You cannot know much about deals
To suggest such thing. / was par
ticularly interested in keeping the
men apart. Had they come together
they would have known l was trying
to get the FIVE or more firms, and
they would have advanced their
Price on me. wish you could see
this organization as | see It. You are
looking back at IT over ten years,
while | look at II as constructive
whole
Ready With Information
Yes" retorted the government at
torney. 1--WE are looking at the legality
what we are Interested in"
You could have learned this long
ago." replied Mr.. Perkins. If you
had only called on me then. But
yon didn't and / had to wait until
now when | am testifying under
notice. l probably will be criminally
| indicted for having vgien you this in
! formation
/ Mr.. Perkins when he took the wit
war nv
Mr.. Grosvenor that conditions under
which he testified did not give him
immunity from possible prosecution.
! Mr. Perkins said he was born in Chi
cago; that he had lived in the West
enough to familiarize himself with 1t;
| had observed agricultural conditions
in this country and in Europe. He
said he had observed that America is
vastly in advance of European
methods.
Asked who arranged the Milwau-
kee harvester purchase, he replied;
Backed by j. p. Morgan.
"Mr. Morgan was back of this pur-
chase and he alone. Neither Mr..
Cyrus Mccormick nor any of the Nc
Cormicks had anything to do with It,,
except 10 advance as a temporary
loan to MIR. Morgan the 100000
which was used in the purchase Of the
option"
| who named the International Har-
vester company
II did"
II wish you would tell why this
| name was chosen"
This name was direct outgrowth
| of our intention of developing an in
| tefnational business. MY experience in
| the New York Life Insurance company
| had been that our agents abroad had
| found that II they were able to call
| their firm an international life insur
ance' company the International car
| ried more weight than New York
! This determined our choice of the word
| international in the harvest company"
| please state the basis on which the
international was organised"
at was strictly a cash basis. There
was no watered stock. Everything
was dollar for dollar on actual values.
There was no syndicate in connection
with this organization"