Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-12-22
ARMOUR HELPED PRINCE
TO sTOCKYARD CONTROL
Big Packer Named in Federal Inycs-
tigation Into Ownership OF
Chicago Enterprise.
S:s. 5000 MELON IS CIT
Only Assets of New Organization
Consisted OF Control OF Older
C0mpanies-Dumm Shareholders
Held Princcly Checks for Minute
100000 MELON IS CUT
lBy AS<oc,atcd prcss,1


WASHINCTON, December 21.--J. O=
den Armour was named at the Fed
eral Trade Commissions meat invcs-
tiEation to-day as the packer who
aided l.. H. r'rince. Of Boston. to OBJ
tain control Of the Chicago Junction
Railways and Stockyaris Company,
and turn it over TO the Chicago Stock
yards Company. organized and con-
trollcd by themselves.
Records were introduced TO show
that after the reorganization, the
stockyar6s company. without assets or
business other than controlling the older
corporation. was able TO "cut Il melon
of more than sa.ooo.oo out Of the
Junction Railways surplus and to. de-
clare quarterly dividends Of > IL per
cont on their $1,000. 900 capitalization
Railways had been given their guar
anteed per cont per arnum.
Testimony OF. w. NJ. Walden, for
NOR treasurer of tho stockyards com
pany. and Frederick w. Croll. treas
urer OF Armour &. Co, established MIR.
Armour's connection with the deal.
era were interested in the compa ny
met with little success. Noncominittal
replies were given by the witness
, to questions as to what was meant hy
the packers" and The other Chicago
people" in correspondence concerning
IN" organization of the Chicago Stock
yards Company.
Francis i. Henev. special counsel
I
sessions Of the inquiry, and also viii
seek to develop the cXtcnt OF the
packers control az The marketing OF
cattle and the distribution OF meat
products.
REVlNES INTEREST IN
OTHER STOCkYAKDS
Some idea OF the ranliications OF the
| Inquiry was given in brief questions
concerning ownership of the yards at
/ Kansas City and st. Paul. Croll tcsti-
nod that neither j. Ogden Armour nor
Armour & Co. Of which j. Ogden
Armour owns 20 per cent. had any
interest in tho Kansas City yards
| In organizing the Chicago stock.
yards Company, j. ogden Armour be.
came the poSScsSor Of l5.520 shares
according 10 testimony, but. like al
/ the other shareholders, his iJcutit,
was concealed through the use OF
share warrants. payable to bearer
Croll said Armour now had turned il
his stock 10 Armour & COMPANY, I'm or.
der that the eight other Stockholdcr,
OF that concern. all of them members
! or the Armour family, might benefit
ownership OF the stock, however, /.
| Jumped with other assets
| Details of the methods used by Ar.
inour ana I'rIncc in obtaining conlro
OF the Junction Railways Companv =
necessary preliminary to the formalio,
OF the new concern. were brought out
IN letters obtained by the commission.
investigators which were read
ARMOUR and Prince according tr
the letters. put up tho $1,000, 600 which
appeared in the records AS having beer
paid by Frank Il. Pegram. hookkcepeI
and cashier for Prince. Armour's share
/ was $4,000, which entitled him ,c
1874 per cent Of the new stock, he and
Prince having divided the obligation or
| pro rata basis OF ownership OF Junc.
Continued on Second Page.)