The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-03-03
BUREAUS REPORT
GROSSLY UNFAIR
Statement Issued by President Of
International Harvester
Company.
FALSE CHARGES REHEARSED
Fails to Draw Conclusion That
American Farmer is Bene-
flied.
FALSE CHARGES REHEARsED

Chicago, March 2.-Cyrus II. Nc
Cormick, president OF tho Information
al Harvester Company. when advised
missioner OF Corporations on tho op
Grating methods OF tho international!
Harvester Company, tonight Issued
tho following statement:
For the Bureau of Corporations to
make it's report on tho International
Harvester Company at this time is
nanifestly unfair 1t appears In tho
midst of the governments law suit.
and within two days OF tho beginning
of the evidence of the company. Tho
bureau has considered the govern
ments evidence. II refuses TO wait
for the company's evidence. which will
disproVe every charge OF misconduct
which the bureau makes.
The report rehearses old charges,
which 1t finds are mainly untrue. but
which 1t lacks the courage and candor
unequivocally to deny.
But, even SO, IT justified the com
pany with respect to the fundamental
matters OF honest capitalization, mod.
crate profits and fair prices. Com
PEELED by the proof or independent ap-
praisenents. the report grudgingly
many other large corporations. is not
ovcrcnpitalizcd. 1t admits that it's
profits have not been excessive-av-
craging even by the bureaus own un-
fair figures, less than S1-2 per cent
per year.
while drawing unfavorablo infer-
ences from trivial and exceptional in
stances OF misconduct by employees. the
bureau fails 10 draw from the import
ant facts OF fair capitalization, reason
able prices and moderate profits, the
conclusion that the American farmer
has been benefited. The bureau nails
the old falaehood that we sell abroad
cheaper than at home. The charge
was never true. and their Investigators
who raked Europe were compelled to
SO report.
The bureau comedies what this com
pany has always claimed that it's for
nation was TO secure tho most cconom-
zeal production We have secured IT,
harvesting machines are the cheapest
Things the farmer buys. On the ques-
ton OF temporarily conccaling the pur-
chase of certain harvester plants. the
report ignores and impeaches the sworn
testimony OF the governments own wit :
nesses III the equity suit The owners
OF the selling companies were called
by the government to prove such con
cctimcnt but they testified that that
course was not taken at the instance
oil the International Harvester Com
pany, or for its benefit: that IL was
done TO enable one selling COMPANY Ia
collect It's $3,0oo,o0O OF outstanding ac-
counts; to enable another selling com
pany to iiquidate its affairs and a
third TO protect It's guaranty OF receive
ables
The reports exasgcrates the com
pany's financial resources, but admits
these are necessary to economically
manufacture on II large scale
Il am told the code OF ethics OF the
American Bar Association and bar as
soclations generally Justly condemns
the practice OF party litigant max
ing PUBIC statements regarding mat
ters involved IN pending litigation
The reports criticism of the bust
ness practices of tho company are hard
~ more IMAM a summary of tho hostile
hearsay OF disgruntlcd Individuals
The government called all the com
pany's competitors In the harvester
trade. and only one offered a single,
criticism upon its business methods.
| these charges viii be conclusiveIy dis
approved by the testimony TO be pres
emily taken, as they were in the Kan.
saS and Missouri LITIGATION"