Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1913-03-04

'harFe ihaf fhf company hia maIf
an effort 10 oc,lr. 700 undue pr1p0r.
ton Of local dealers 100 farm mach.
inery By allotfn.. as .uio ouly a
single brand o. amy ono dealer .u
the same place fhaa taa1ins 90 &C.
strict the ouiiri f9r competitors
goo'is. CORNERSTONE Couant says
The company oau records show
that this Was one purpose AZ least in
making this distribution Of .'H
brands. and il appears % have bad
some practical effect Boo hani.rIppiup
competition
Special dlFrrm.uarg prices lHi
terms" Mr. Conaut continues. ha.e
been reported in number of ins'ln
ces. but the general policy of the
company Is ~ maintain hlFh prices
Ia the monop0l red lines lu tue grin.
clpal nen lines. hoaeycr where CON
siderable competition H encountered
unusually low prices and IouT ierms
have been generally employed
Another rather general complain.
| II that statesmen Of The international
I Harvester CO. represent thar pur
chaFers Of compelling lines off bar
yesting machines EIll be- unable io
Secure repair parts. q matter 0i
much practical importance uffIfDr
OF the international Harvester Co.
admit that this was at one time a
common characteriFfir of competition
in the harycsilng.maobIuo industry.
but that the company IF opposed 20
the practice and has used active Of
forts 10 eliminate 10 The bureau.
however. received rather numerous
complaints Of this character
The company o. one time openly
ATTEMPTED through clause boo Boz
commission contracts CO. control me
price paid Tor iis machines by
the farmer 10 the retail dealer Since
the elimination OF this clause sug.
gested' retail price lists have been
rather generally circulated uF some
of ne branch Officers. apparently for
the purpose OF indirectly maintaining
the retail price. although The com
pany contends that these lists are
intended for the use OF its employees
In furnishing information to pun
chasers and PROCESSES Go dIs.ouraa"
their issuance to dealers II Is cvI
dent. however that 10 could com
plctcly stop this practice II b. really
wished 10
Although new competition of
great significance has boguu to ap.
pear. the comm Issioncr points out
that the combination Joe l9ll slll
had about 80 per cent OF the pro-
duction OF binders. IS per cent OF
the production OF mowers aud ~
per cent OF the production Of rakcs
In manure sprcaders. be- adds. "
appears ~ have over ouc-half OF M"
business. in disk harroVs approNIma
tcly 80 per cent and 90 be- iuDr"as
ing It's proportion boz several other
lines. such a. wagons aud gasoline
engines
The extraordinary oyorcapIall-
zation which characterized most OF
the large Industrial consultations of
the period 1895 10 1901" was absent
In the case of the International var.
vestcr Co, Mr. Conaui SAYS The or
lginal capital of Sl2u.uUn.uUU luru.
ded SEQ. 100000 iu cash ana SEQ.
OO0 900 representing the appraisal
value of plants. Inventions. etc The
commissioner points out several AL
legged excessive valuations. bar saws
that the value of the properties plus
the cash capital covered substantial
~ 30 per cent OF the capital stock Is.
sued and holds that n fair valuation
for good will. which was nor n-
cludcd In the assets. would likely
have met the remaining ten per cent
Excessive valuation. the commits
sioner particularly points out was
placed upon the ore leases OF The
Deering Harvester Company % was
appraised at t7.H63.15o. estimated
by Mr.. Conaut "a have been over
81. 000. 600 too hirh a. that time
These ore valuations he adds caus
ed much dissatisfact among iho
combining Interests themselves. os.
pecIally the McCormicks
1T Is important 20 consider th'
report declares. that the bankers
who dominated the Organization ~
the international Harvester Co also
organized tho United States steel
Corporation. officers OF which had
only a few weeks before in Important
litigation then pending against the
company submitted afiidayIts to tho
effect that the value Of its ore. tai
ing lease holds and fee iudiscr'miua.
tely. was 5000 .O0o,o0 or appro,.ma.
tely 81 per ton. Mr Perkins O.
whom was left the appraisal OF these
ore properties and Who sas alsaI
chairman OF the finance committee
OF the Steel Corporation. vas there
fore In no position 70 deny an oNoes
sive valuation for this Deer.nT ore ID
The stock % the COMPANY sass
COMMISSIONS Conaut has beet
closely held by the former interests
the Mccormick and Desrinr fam.I.e.
having throughout held o large ma
jorliy Of the total. while considerable
amounis also have been retained h'
other stock holders
This fac he continues "af
sumss especially importance Iu tIeu
Of the pehdinF dissolution suf o
1.-THE r0Fsfumeni AGAINST ihr com
1900 20