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Show II; BIG BUSINESS, ' SILL PROFITS, AVERSHASK(NS I President Says Company Sold I : $100,000,000 Worth of Im-I Im-I plements and Made Only I $150,000 in Profits. I . PERKINS CONNECTED I , WITH VOTING TRUST" I (! Roosevelt Financier With As-I As-I i ' sedates Shown to Have I Been in Absolute Control of the Corporation. . HICAGO. Sept. 17. Although it I sold $100,000,000 worth of farm ' J implements, the Intornationa Harvostor compan3' of America, last year made only $150,000 in profits, or fifteen hundredths of one per cent, accordinc to R. C. Tlaskins, the presi-1 presi-1 dent, who testified tqday before a special examiner in the government's 'suit to dissolve the corporation. '' Questions were ashed by the eovern- 'J inent attorney to show that the Iuter- ' national Harvester company of Amer i' ic as merely the selling agent of . the International Harvester company j of Now Jersey nnd that the latter com- j panv wns to make nil the money, i ' Is it not your object to buy from the New Jersey corporation at such a prire as will cnabio ou to sell so vou ij will not havn a loss or a profit?" ' ashed Edwin P. Grosvenor, special as- I sislant attorney general. j3 Buy Cheaply as Possible, i "Our object is to buy as cheaply aa i we can nnd to make as much as pos- i fible. Wo try to buy from tho New r Jersey company at prices wo, would J get from any other company," replied Air. Tlaskins. !' "But you" never have paid a divi- J, dond?" ' "No, we never have." 'i Most of today's session was de- I voted to acscriuinjr tecnmcai features of farm implements. Mr. Haskins re-,( re-,( In ted tho methods, of salo to farmers ije in answer to tho government's charge k :hat as a trust the harvester companj' maintained prices "to tho serious iu- , L jury of tho farmer." The witness said the company sold " to agents with a 5 per cent discount for cash, and tho agent, by adding his profit, determined the price which the farmer was to pay. One reason, Mr. Haskins explained, I why the salo company made only $150.- 000 while it sold $100,000,000 worth ' of implements was that it was constant- l j ly expanding its business and expend- i ing large sums for advertising. I Tho govornment attorneys presented what was purported to be an original , agreement bv which George W. Per kins, Cyrus IT. McCormick and Charles Deoring formed a "voting trust" h which placed them in absolute control , of the $140,000,000 corporation. ' The agreement dated August 12, 1902, was for ten years and expired a few weeks ago. It was introduced by the government to show that these three men had turned ovor to them all the stock so they had the sole voting power i of the corporation. Perkins's Connections. I Another exhibit purported to show jt that Mr. Perkins was chairman of the 1 corporation 's finance committee and . that of the" six members of that com- ' mittee four were directors in the steel I, corporation and members of the steel I corporation's finance committee aB fol- lows: E. H. Gary, Norman B Beam, ' George F. Baker and Mr. Perkins. Another exhibit was that Mr, Perkins, Per-kins, Cyrus 11. McCormick and Charles Deering held all the stock of the In-i In-i tcrnational Ilarvestor company of Americat the selling company of the International Harvester company of I New Jersey. Clarence S. Funk, trenoral manager of . the International Harvester company, . testified there hardly was a farm im-'' im-'' ' plement in whose manufacture and sale j competition did not cxitst. J Grasshoppers and crickets cost the j harvester company more than $4,000,- J 000, Mr. Funk declared. |