OCR Text |
Show uu HARVESTER COMPANY Will Be Allowed to Re- organize Without Prosecution Washington, Sept. 20. That the government is ready to permit the International Harvester company voluntarily vol-untarily to readjust its organization to conform to recent interpretations of the Sherman law, became known here today. Ponding the result of conferences con-ferences between Attorney General Wickersham and nttorneys for the company, the threatened dissolution suit Is being delayed Negotiations loofcing to an understanding under-standing between the government and the company, which -were besun in Washington last summer by Edgar A. Bancroft, general consul for the Harvester Har-vester company, later were continued at Cedarburst, L I., where Attorney General Wickersham haB been spending spend-ing the summer. They reached the stage, It Is said, where it will be necessary for Mr. Bancroft to refer tho question-of reorganization to tho company's board of directors. Details of the negotiations between Messrs. Wickersham and Bancroft Have not been allowed to become public, pub-lic, although It is known that, as one condition to non-prosecution, the government Insists on the business of the trust being separated fnto four corporations which first composed IL They were the McCormick Harvester Machine company tho Deering Harvester Har-vester company, the Milwaukee Harvester Har-vester company and the Piano Manu facturing company These four companies com-panies were tho first to be acquired by the International Harvester company com-pany when It was formed in New Jersev in 1902, and capitalized at $120,000.000, of which $60,000,000 was paid in cash. The other $60,000,000 of stock was issued for real estate, plants and physical inventories |