Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-11-06
MBEYNOLDS SAYS
HARVESTER TRUST
Unjust Be CURBED
Attorney General in Conclud-
ing Address Declares the
Great Machinery Combine
tion Is Menace to Nation.


iNf AHAHtu tjfc - EtfulnH 4icftfd.
S.. raui. aiinn.. Soy. Attorney
General AlcIleynolds IN his closing
speech here last night. concluded the
aotsfnmenEa latest hearing in tho
International Harvester antitrust
cases The attorney generals state
mrni was the most severe. arraign-
mont Of the machiney combination
that has been made
ssr. NleRcynoida' speech.
Attorney General McBtynoids Ia
concluding the argument for the gov
eminent said yesterday In part.
When such decree hts been en-
tered tho government viii be ready to
pass on the character Of the roorgan-
i1ation pipn
But Il Il the view ~ the govern
mcnt that this company must be cut
up into separate and distinct units.
This must be done n such "a way the
stockholders ~ the different parts viii
BE- disiiact We insist Il d an ccon-
umlc lmpossibiiity for companies
owned by the same people to furnish
bona flde competition"
IN his closing argument. which was
brief. Attorney General McRcynolds
scored Cyrus Mccormick. whom he
called the founder OF tho harvester
TRUST because Mr.. Mccormick had
not appeared In the case. MIR. Me-
Reynolds said;
We are told some saw "a vision at
The time this great organization was
perfected But the man who saw that
vision has not been brought before
u.s. Il Is ono % the most sisnlhcant
facts Ia this case that this man has
not opened his mouth.
Don't you suppose lf the phlinn-
ihropic purpose pleaded by counsel
for the defense hero had really cx-
listed. Mr. Mccormick would be- hero
telling IN trumpet tones Of that pur-
poser"
Mr.. McReynoids reviewed. the car-
ecP Of the harvester company from
The time OF the organization ten years
ago. pointing out to the court specific
instances In which he alleges the law
had tecn violated and which he
averrod furnished more than ample
basis for an order OF dissolution.
THE story OF this powerful mon
opoly marking timos or losing ous-
mess here and there, as related by
some OF the counsel FOR the defense Is
absurd" said the attorney general
Take the finances 81 this concern in
i903 and take them now and what
have we2
"In 1908 the total business done
by the international Harvester com
pany was s53.o0O.o0O. in 1919 Il had
Increased 10 sl25. 100000 In the same
length 81 time rs capital had incrcas-
ed from 100000, 900 to i62.000.00e
and between 1903 and 1911 By the
latest figures available. the assets uf
this concern had Increased from
$50. 100000 10 $4,000 600. These
fgure8 tell tho story Of the rapid
growth OF the power of this concern.
This expansion has boon SO enormous
that the word Of this corporation mas
become absolute lnw 90 thousands and
thousands.
when the Mccormick. the Deer
Ing, tho Plano, the Champion. the
Milwaukee and the Osborne compan-
les uttered this organization. then this
monopoly automatically was born.
The existing competition between
these slx companies, the absolute
leaders tn the country was wiped out
and IN rs place "a monopoly existed
as plainly as decisions OF the supreme
court could define a.
For. having come together In this
organization what Was tho rcsult2
I'VE find that the international
Harvester company In It's FIRST years
had tho following percentages of the
nations business IN the varied lines.
as per cent Of the binders. % per
cent 90 the corn binders. ~ per cent
of the mowers SO per cent of the
rakos and 40 per cent OF the Irvine.
'And there Is nothing in the rec
ord a. evidence 10 show this situation
has changed ln ten years. or course
/ there has been some competition. but
| the facts stand out that Wo have more
| than 30 per cent OF the great harvest
! Ing companies of the country put un-
Dor one company.
! no man who looks on that picture
/ can fan 90 see this concern had the
/ absolute power a. hy prices OF course
there existed no desire 90 get one
/ hundred per cent Of the business 4
] certain amount of competition keeps
/ down public sentiment and helps ii
/ other ways The Fundamental idea
/ of a monopoly is power which can
| control prices and I maintain that
| such power has been shown here be-
/ yond any question cot doubt
THE question OF intent is material
/ rhilunihropic purpose cannot be-
/ pleaded as Justification for the re-
/ suit when these defendants pur-
posely entered into thois organization,
into this conspiracy. they laid thom-
serves liable 90 charge OF guilt for
the result"