The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1914-08-12

itnm, but must not actively assist
him in cheating himself
"Tbe International had bought ali
The stock Of the osborne company
and ~ had been transferred 10 o trus-
tee, and there was Ia the fact that
the Osborn company miKht better
collect is bills receivable no oasis to
Justify the international IN making n
contract under which the Osborne
I company would continue to advertise
that u was an Independent concern
when Il had la Tact been merged
with the International II Is safe 10
say tina from January, i90s. the
competition OF the Osborne company
was Ia name only, and did not exist
IN fact,
"whnt has been said of the os-
borne purchase 10 true la principle "
PURCHASES made by the international
of the Keystone company. the Minnie
Harvester company aud the Ault-
men-Miller plant.
'Prior to the consolidation the first
! i've companies were In fierce compe-
t,ion for trade, and especially was
this true OF the Mccormick ana
Deering companies. and his compe-
titiun extended not only TO price but
To build up the foreign trade; second,
and numerous free itoms with ma
chimes. The result OF the combina-
ton was that all this competition at
once wholly ceased. except Within the
Limitation OF agents commissions.
The defendants claim mat the oh
lects Of the organization were: FIRST
TO build u pthe foreign trade: second.
by the combination to secure more
| capital 90 enable them to continue
1.-THE battle Ia the foreign market.
third. hy eriarT!ng the scope Of bus
mess 20 as to Include other lines OF
agricultural implements to make an
all-the-year-around business, They
also claim that II was not the inten-
ton 10 Cypress the domestic market
and that they have not done SO.
1T does appear that since the CON-
blnatIon the foreign trade has been
greatly increased. This trade OF all
the combining COMPANIES vas $lO.-
400, 600 In 1892. and has grown un-
der the dcfondants' management 10
$4,000. 900 in 1879. This vast growth
4 To the credit Of the energy and en-
terprise OF the defendants. But the
Oh NNt AIA0N VI WV 'RhAftff
who formed the combination was a.
i the time Of the consolidation very re-
cent. aud the trade was rapidly IN
creasing just prior To the combihh-
ton. with the knowledge hat the
foreign trade was making such a re-
markable growth at the time OF the
consolidation. whether the separate
companies would have increased uneiI
business as much az the defendants
/. have done, is a mere matter OF spec
ulation on which we can venture no
opinion.
II 1T Is claimed that the consolida-
r ton Drought sixty millions of avalia-
BILE cash 10 the new company VIII
r which to expand the foreign trade
p This Is not true. The government
claims that not more than ten mil
q lions Of new cash was furnished, buI
o. IN no event did II exceed twenty mil
% lions. Forty millions OF this social
r. ed working capital was furnished ~
o. bills receivable OF the old companies
r. Just az available 10 the old compan-
, ies as TO the new. And sixty millioni
= was Issued for the tangible property
81. Of the did companies and the expense
n OF ]. T.. Morgan a Co. in connection
g with the organization OF the new
company and for the Milwaukee com.
pany.
. soon the International began buy
o. ing and constructing plants 10 exien'
It's business TO the prior one OF tn
y manufacture OF harvesting machiaer'
to the manufacture of all OF the nv
b classes of agricultural implements.
1T IL contended by the government
that the International used Its prio
monopoly of the old lines to impos'
, III new lines upon dealers and 1t In
oiudes this among numerous charge
OF oppression upon purchasers.
~ nile the evidence shows som
instances % attempted oppression O
= the American trade by the lnterna
tlonal and the American companies
: such cases are sporadic, and in gen
eral their treatment OF their smalle
y competitors has been fair and JUS
" and II the international and Amer
y lea companies were not In themselve
unlawful there h nothing IA the his
tory of the expanding Of the lines q
manufacture. SO as 10 make an al
Nm - 80