New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-28
ANTICIPATES u SISTERS
international Harvester Again
Incorporates in Jersey.
NEW HOLDING COMPANY
Cyrus H. Mccormick Says Move
Is Necessary for Foreign
Credit of Concern.
IN TeI.sraph - rh. TrILun. !


Trenton. Jan. 27.-Probably the last
large corporation TO accept the privileges
Of the New jersey corporation laws be-
fore the passage ~ the seven sisters. "
as the corporation bills designed by Gov
ernor Wilson arc known. was chartered
with the Secretary Of State day. when
the international Harvester Corporation
took advantage OF tho New Jersey stat
ute
According to the Incorporation certii-
cate the capital Of the Interna tional
Harvester is son0,co. divided into 3On 30
shares OF preferred and 10000 of com
mon, Of a par value Of SlU each. The
incorporates are Harold =. Mccormick,
Of Chicago: William J Louderback. OF
Chicago: William L. Saunders. of Plain
field, y. J.; John \. Chapman. of Chi
caco: Clarence =. Gregory. of New
York. Robert H. Nelson. Of N$w York.
There is already an international lIar-
vcstcr COMPANY, Incorporated under New
jersey laws This concern is what has
long been known as the Harvester Trust.
and Is AT present involved in litigation
with the government. The incorporation
Of the concern to-day may be a step TO
take over some of the business Of the
larger corporation, which is capitalized
at tit0.00O.Oo
The certificate Of Incorporation fled
to-day shows the concern has taken ad-
vantage of Section II Of the corporal ton
act. which will permit holding companies.
This is the power that Governor Wilson
seeks to prevent by the corporation bills
which hay" been presented in tho Iegis-
lafIrc under his auspices. The fec Of tho
state for incorporating the Information
Harvester Corporation Was $1,000.
Chicago. Jan. 81 The following state
mcnt was made to-day by cyrus ". Nc
Cormick. president of the international
Harvester Company. regarding the or
ganization of the International Harvester
Corporation:
The new corporation has been form. Il
for the purpose of taking over the bust
ness and properties Of tn" International
Harvester Company in foreign countries.
including the manufacturing plants In
Canada, France. Sweden. Germany and
Russia. IN view of the pending suit Of
the government against Inc company.
which may NOT he ended for a cOnsid-
cradle time. as IN" ease may 90 10 tho
Supreme court Of the United States for
final settlement this action has been
deemed necessary for the protection Of
the compsny's foreign trade and credit.
TO maintain this credit unimpaircd I'm tie
new corporation. IL was decided 10 trans
for 10 fhc new corporation. in addition 10
the foreign properties. the following
plants i'm the United states: Akron works,
Akron Ohio; Milwaukee works MilNsu-
kec: Newark Valley works Newark Vat
ley. y. y and the Plane. Tractcr &
Weber works. in Chicago.
No harvesting machinery or binder
tuinc is made 1T these plants. All the
plants manufacturing harvesting machin-
nrv or any products made ty the COM
panv at the date of its organization In
lo02 will continue to he owned and oper-
ated by the International Harvester Com
pany. .
This action taken by the company is in
the direction OF the demands made by
The government but II Is not solution
of any of the questions at Issue and ~
not expected 10 have any effect on the
pending suit.
This action has not been influenced in
any way by the recently proposed amend
meuts in tho corporation laws of New
Jersey The board OF directors authorized
the formation Of the new corporation
more than six months ago and IN Dcceui-
her last directed the change to be imme-
diately carried into effect
Mr.. Mccormick also said that the sc-
ton had not been Influenced In any way
by the recently proposed amendment in
the corr Grafton laws Of New Jersey. The
board Of directors. he said, authorized
the formation OF the new corporation
more than six months ago and In Deem
her last directed the change to be imme-
dIately carried into effect.