Newspaper Page Text
THE DAY BOOK
500.SO. PEORIA ST.
TEL. MONROE 353
Vol. 1, No.78 Chicago, Wednesday, Dec. 27,, 1911 One Cent
HOW BEEF TRUST GULPED THREE HUNDRED
MILLION WORTH OF COMPETITION
Yeeder Tells of Taking Over of Two Companies When
Billion Dollar Trust Tirst Was Planned $500,000,
000 of Water to $200,000,000 Stock.
xBit by bit the truth about the
"high finance", operations of the
millionaire packers is coming to
light. in, Judge Carpenter's court.
Xhe-.gqvefnment today proved
"by 'Albert H. Veeder, corporation
-attorney- and ''father" of the Beef
Trust," 'that' in 1902 ,the packers
entered no a' gigantic conspir
acy, to control the packing indus
try of the world.
This, they attempted to do by
the formation of -a company, the
capital stock vof which was, to
have been $773,567,000, of which
$591,000,000 Was. ''water." , .
The formation of this company
jn 1902 fell through, not because
of the panic 6f 1903 as already
claimed by ,the defense, but be
cause E. H. Harriman and, the
other eastern financiers to whom
the packers applied for a loan ,of
$90,000,000 demanded one-fifth
interest in the proposed combine.
The argument of the goyern
ment is that although .'the bciginal
scheme framed by Veeder in 1902
fell through, the packers actually
s Hid, by the formation "of the Na-V
tional Packing Company, form a
trust whicluhas controlled prices
and dominated the packing indus
try ever since.
While these interesting facts
were being brought to light, and
while the government was sketch
ing what it intended through
therh to bring to light, the mil
lionaire defendants themselves
were conspicuous by their ab
sence. ' When court convened only
Francis A. Fowler, manager of
the beef department of Swift &
Co., was present. Edward Til
den, Thomas J. Connors and Ar
thur Meeker dropped in in a
.casual manner later.
' T V 1 A . . . ;1. . Ill f r
j j. ugo.en Armour, tne King or
packing town, did not appear.
He has 'not been in court this"
Armour, and the other packers
whordid not appear in 'the court
where they are being tried for
"hjgh crime," were represented
All of which, taking place in a