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THE SUN, THURSDAY, AUGUST 13, 1914. DUTY TO PUBLIC WAS HIS GUIDE, SAYSWARBURG Banker Declines His Step In volved n Financial Sacrifice. HIS TESTIMONY l MiWJVj 1 UliljLL.t.usinH.,,,. If anybody o ii-. i. a -n mi.i .. n-it imics to run e nun i x mi Street Man Deserves Confidence. Vvasiuj.oto.v, Aug. 12. Paul M. War- burn's testimony before the Senate Com- , tnlttce on Hanking and Currency when his nomination to tho Federal Ilcaervc Jlcrnrd was pending was made public to- , day. Mr. count Warburg gave nn Interesting ac of the competition for business between the big banking bouses of the! country, punctured ecvernl theories of the 1'uJo money trust committee and dis comfited Senator Joseph I. llrlstow, who nought to build up opposition to his con Jlrinntlon. Mi Warburg modestly acknowledged lh.it ono of his desires In accepting the IVIcral Itesorvo Hoard appointment was lo domonstrate that "a Wall Street msn" really Is drserlng of the country's con-Hd-rice "Tho only compensation I can (ret from this In the miect!3 that I can make out f It," said Mr. Warburg. The lliitil.rr'n Jincrlflre. Mr Warburg said In beginning his lemmonv that he bad made arrange- infills lo sever all bis banking connec- j 11?:: rll..''1: ',aniLM,K'li.uami.t?'ing.' I ! not thieve' people have had retire from the Ktiropran Hrm with which he had been connected for twenty ears. "If you were going to sever your bunk ing connections and break them all off it mtn-t he a trcuv ndous financial sac rifice." suggested Senator Heed. "A sacritlci-. vcV' pved Mr. War burg "I think It w.ll be a bigger sac rifice than sny of thf.se gentleman nround the table has any Idra of." KenHlor Ited Well, may 1 ask what your motive Is. or your reason for mak ing that sarrlllcr"" Mr. Warburg My motive Is that I hnve. as you know, taken a keen Inter est In this monetary icform Knee I have I been in this countrj I havn had th """'' ,..., meres, which com-s to few people of Judgment by dm on the bus nes, trans rinrtlnir an Idea ami Rtartlne It so that "",,lon" of K,,h"- 1 0li' ' " Hp Bn ... ?. ,1. HV n ?i , ,, lrt '"''''l ''I" determination to follow this the hO f 'Ountr- has liken it tip and It r( h( 1rt.,r,nt)K. of ,h(1 ncarlnR nrl(1 never expected that I would ue asked to take nn acrive pirt In the manags- tnent of this svetem because I thought there would be ho much prejudice that they would never rnnsldT me, even though I should be willing to do It. When Vifsldent Wilson alid me whether I would tike this appointment and put It up to me In a very W nd way because he thought I was tb man for It 1 felt that J had no right to decline and 1 will be glad to make the sacrifice because. I thlnl- there Is a wonderful opportunity for bringing a great piece of construc tive work Into successful operation and tt appeals to mo to do that. A great minv neotile hae c died me Quixotic for wanting to do that; and I am frank io say that In these last few weeks I j have Hlmost liecuil to tn.lIK l wan jui-i-otlc In wantlne to do It beraife t did jiot think people took I In the spirit In which I olferod to do It. Mr. Wnrlinm'" Tortnne. Senator Hltcheork V nu nave got enough to llvo on. Mr. W.nburg, during the next few years? Mr. Warburg Yes. Senator H-cd Ami vou Intend to go on there, If you are confirmed, to represent what? Mr. Warburg To represent the coun try and the future of tho country, and If J did not haw that Idea I would be a fool to make this secrltlce to go there. The only compensation I can get fiom this Is tho succens that I call make out of it and the gratitude that I can earn from my fellow citizens; that 1b all I ran have. Senator I'om.'renn wanted to know srhat prejudlcs Mr Warburg had In mind When he ssld that be never had thought that he would b considered for the re serve board. "The prejudice which Is rampant In the country that a Wall Street man Is a Wall Street man always," replied Mr. Hvarburg. "and that you have to bo afraid nf Mm; that a Wall Street man would iave money trust Ideas, or other Ideas which are not quite consistent with the Wh ethics of other people. Oenerally ipeaklng. the country Is prejudiced tigalnst Wall Stnt and I do not know whether my record has shown that I de rerve the confidence or not hut anyhow It Is one of the things that tempt me to show that a Wall Stret man does de iterve the, country's confidence In carry ing on this thing." Cltlrenhl mid Only. little later Mr. Warburg, referring to hh declaration In l!fS of his Intention to become an American citizen, said: - "I may Add that a thing which had a reat deal of Influence on my making up my mind to remain In this country and work here and become a part and parcel of the country was this monetary reform work, because I felt that I had a distinct duty to perforn here, and I thought I could do thut and In fact I hive been working on It slni-e lt'Ofi or 1007 " Senator llrlstow W.n-n you became nn Amertca.i citizen tho motive which In duced w.tH then, as I understand It, largely with a view of laboring to bring about a jefonu of the American monetary system. Mr. Warburg- Well, yon put It nearly exclusively on that ; I tblnk a man wants to feel he Is gieng lo do sonif usful work in his eoumiy; that he hat a mission to perform and that Is what happened to me. Senator HilHlow In bW futile effort to build up nppiHtlon to Mr. W,irhurg re lied confidently on the finding of the so-callM Tujo morey trust committee. Jle road liege, portions tho l'ujo ic jiort Into the ,iroreedlm;. and about tho only nsult was to elicit fron. Mr. War burg some IntercMlng rommt'tit on the relations of big banking hous-w In New York and eleewheie to one another. Mr. Hrlstow pointed out thai the Pujo i committee found that n nmn) trust I xlstM which was composed of ,1. I Mor-1 itan A: Co , the I'lrsl National Hank of' Js'ew YorH, the Narnnal c'ty li.ink. I.e. Jllgglnson & Co. Klddei, I'eahoily K Co nd Kuhn, Iieb .V: Co., and that thec Arms snd'comp-uiioK w'ork...l together in pacing securities and dlWdcd the pi.nts. Bankers' I'.tlii'K'tle, "The Impression which you have an- parentlv got from that report Is pnt It was said last night at the home trilto correct," said Mr. Warburg "The f tho girl that sho la still too 111 to Impression has generally gone out that be confronted by tho negro for the pur these firms work together, that one of pn of fornnillv Identifying him It Is them was alw.iyn seeing that the othor i bulloviil hhe win be able to slawl the nade a profit, As a niHtu o' fan there is rnmn. tttlon and Kuhn, 1iob Co havo no in. trt In teidng that J. P. Morgan & Co., rrTonV mnko money. "Thero Is of course a certain etiquette among ourselves, ns thcro would b; unions other Kcntlcmcn, but tliat Is not more In thlH country thnn It Is nnywhern elec, "Thero are naturally only a few firms ahle to handle iirojio.iltlons of the tre mendous size which our corporations now require and of course If jou talio every firm In the country that Is able to do such a buslncn and then put them to nether and call them a money trust it would bo my enough to make one up. "The amusing part of It Is that Just at the very time of the 1'uJo Investigation I there occurred the Incident of the Haldwin , , locomotlve transaction, where wc tried to I buy somo bonds and where, by what we I would not call very correct dealing od 'the part of that locomotlvu concern, tlnally J the Morgans bought them. "t am not complaining and 1 am not I discussing the transaction! but It showed clearly In the rouit that there Is compe- thal tries to do comes to Us who lias gone to Morgan'H or who h.is gone to rl'tv er ui 10 itiairn ami we Know inai ho has had no relation with them wo would d, as we did m th- ii.iid-.vin ioco- I moth c case. We negotiated with them land at the tame time they were negotiat nig with tin; .Morgans and the Morgans won." niitn't l.tl.c lir Cnnillllim. Mr. Warburg added that while be was ,,.., rnmm. i, nn, , HVmn.,uv Wlth the banking conditions that existed at tho time the Investigation was made, These conditions have Already been cor- ""' ' tc witnorawal or tne repre- Mcntntlvcs of several of the banking tlrms from the directorates of other hanks. "In celf-protectlini," continued Mr, Warburg, "the bunks had to do this; on i account of the lack of cooperation In our system they hud to ilnd somo cooperation by which they could protect themselves In casrs of emergency and also exchange views about the commercial credit situa tion. It was not a good plan; I did not approve of It, and part of the things that 1 have always worked for Is for somo kind of a Kcdcrnl rcscrvo system or a erutrnl reserve system by which this protection will come." Mr. Warburg said his bank stock In vestments hail not turned out Hell; that he would lofe a great deal of money on them by being obliged to sell them at this time. "As far as Mr. Fchlff Is concerned," added Mr. Warburg, "If you will make n bid for his bank stocks you can have them." "Is that because be feels they are not valuable to blm when be cannot be. n director? asked Senator llrlstow. "No, tho Invvstiient proved disappoint great satisfaction with their bank stock Investments.' riilrnco and Alton, Senator Hrla'ow rend Into the record the Interstate Commerce CVmmlslon's re port on the well known Chicago and Al ton transaction, which held that the bank ers who managed t.in corporation "appear to hnve been rlchlv rewarded." I want to know," said Senator Hrlstow nfter reviewing the details uf the Chicago and Alton syndicate, "If you think tha.. Is legitimate business financing?" Mr. Warburg declined to bo drawn Into ' "cl " pressed him for an opinion as to whe'her lie thought It was legitimate business lor Kuhn, Ioeb & (V. to charge high rates to railroad companies for handling their business when members of Kuhn. oeb fc Co. were serving ns di rt '"ors ori the railroads. "I told on In th.' becinnlng," said Mr. Warburg, "that 1 would no: dlsruis the affairs of oui firm." "Io you upproe or Justify such methods as uru tk'icrllx'd n the paragraphs read from the report of Commissioner Kane?" asked Senator Nelson. "If I said 'Vcs' 1 would get In'o a very long discussion ; and if I Mild 'No' I would be criticising my own partners,'' was Mr, Warburg's reply JIr Wnrburg contended that the Chi cago nnd Alton transaction was closed be fore he bcc-inm a memter of the firm of Kuhn. Loch & Co. He dented that he vim the ncent of the Hothsehllds in tho United State. Auent. of the IlotliNclillil. The ltotbsrhllds' agents In the fnlted States nre August llelmont & Co.," wild he- "The ltothschllds are wry conserv ative people and stick to their agents litre." Senator llrlstow wanted to know If Mr. Warburg us a citizen approved the meth. ods cmp!ood by the late K. II. llarrlmin In acquiring other ratlroids through the Union I'ac'fi. Again Mr. warnurg ne rllned to pass Judgment on the nets of hi- firm or the nets of other persons. Senator Nelson wanted to know whether Mr Warburg as a member of the reserve board would tolerate and ap prove of any bank which was a member of the l'edfral reserve system engaging In any such financial transaction as the Chicago and Alton. Mr. Warburg replied that no bank of the system could participate In such a transaction or have anything to do with financing a railroad. "How do you think we can find out your opinion about the shady transac tions In Wall Street If you decline to answer questions?" asked Senator llrls tow "Well." said Mr. Warburg. "I em will Ing to trust th Judgment of the com mittee. I hopo that the majority will understand that my nttltudo of not want ing to criticise other people's buslniss was a proper one; nnd I nm willing to take my chances on that " "Oh. jcs." raid Senator llrlstow,, "you do not want to express any criticism of anything that has been dont. You do riot even want to give your views as to whether you think It was a proper busi ness transaction or not." "I have given my views In general," said Mr. Warburg, "and I think they nre clear to everybody vise; but you want me to criticise ofrtaln definite things and I will not do that " EXTENDS WIRELESS SERVICE. l 1. Mutton Novt llnndlrs Central American Memne. Colon, Aug. 11. The Central American wlrebiw service heretofore handled hy the United Krult Company's steamships Is now bHng handll by the United Ptntes novnrnment'H wireless station. The fruit company's ships fly ihe Rrltlsh flag, and since they operate from American ports are not allowed to use their wireless, The Government station Is not accepting code nnd cipher messages or the offtchl dpatches of the nations now at war. RIFLE IS FOUND IN SCHOOL. iii level! to He Property of Jnnltor Accused of Attacking: tilrl. Detoctlveti found a rifle yesterday on , tho second Moor of Public School 7, In which thirteen -vear-nld Catherine Larkln 'of &7I1 Itrondwny was attacked, hound 1 and thrown tt'to n drain p!pi trap'vault I "rl;' W, W",1'1'' th" ""fro Janitor ! h -r,de!ii;ra;;r.,'knofad,go,TPl? thu negro Janitor of ng the rllle. (ilthoiigh ho ndmltled he owned two boxes of cartridge found In the baaement uf Ihn Ht'hnnl Mnndv. ordeal on Sa'urdiiy or Sunday Webb will be arraigned in the Mor rlsnnla police court lo.ilay He Is now locked up In default of ; 10,000 balL MISS DOROTHY LIEUT. MARCELLUS THOMPSON MAfeCE-LLU Ceremony Tnhea Tlnee I'mler Perprola it Home of Bride's Parents. Amt'KV Vmk, N. J.. Aug. i: Miss Dorothy Harvey, daughter of Col. ami, Mrs. C.eorgo II. Harvey, was married at the Harvey summer home, Jorjalma, Deal Uracil, at C o'clock this nfturnoou to Lieut. Marcollus H. Thompson, U. H. A., son of Col. and Mrs. John T. Thompson of Washington. D, C. The ceremony wns performed under a groit flornl bell in the pergola In tho garden by tho Hev. I'hlllp Swezey, assisted by tho Hev. Herbert 1 cyiipmaii or ine . nurcn m ine. Jicaven.y e, -ew "r. ..luro inun i rem- , live and friends. Including many army , otllecm mid C.oveniment oniclals. were present. I i. . . i . ii, . .. I i lie iii un. niih iirmniim wilii iKuri ' . " being pink and lavender The porgoU ' was Ivuike, with flowers and fortiH. i- i T ,,r i ii . i.. . Blca Alward. Miss llle Johiinon. Miss Ceclla Hrewstor and Miss Genevieve ( hamp I lark. Thos; wore lavender chlf- m iwui nnU51,iaiu, rtn.S.I lTh Vi" I- n.r nrr,1 vr .h lllL. ?J .?in .i,.,.Kf I over th K"wna Vkvns Htnail clustfrw or 1 i,(imi,a- Ji.t Tiw -..i i la'nner nww itfa. Tliy carried arm lrot i ,r! 1 u ,m f hn ' Margaret Lucu wuh titw mala of honor. .Sho woro lavender chltton taffeta and a , .mLr aoMr,,.,. Ji. . . . ., trimmed Xu dd h .l f 1 rLli tnl in oivSLTf IS e Z I orange bwnLs. Sl7j orange u,oa.sonia. hiic cirrieu a nouqiirtt , I.... ... .... ..i.... l .. .1 nt. ..... i or lilies of the valley. The bride was given away by her father, who woro his uniform its 11 Colonel on the staff of the tJovernor of N'civ Jersey Lieut. V. C Harrington of the Knglnoer Corps was tho Ujt man and tho ushera were Cipt. J. .1. Walsh. Lieut. I'blllp Matthew. Lieut. Robert Gooliich and Knslgn Law- reno Townsend, Jr. A reception was Held on the lawn. The i bride cut tho wedding cake with the in lues room mora. Many costly pres ents were received. Mr. and Mrs. Thomp son left on an evening train for an ax tended honeymoon trip. I'liiKu. WIkM. Miss E. Augusta Wight was married to Walter licvereux I'lnkus, a son of J Frederick H Tlnkus. yuslerday nfternoon at the home of her undo and aunt, Mr. um .iiiti, . iiii.iiu .. rnayi;ir-Kt i'ar: avenue, with whom sho has mails her Imini, frxr , n . .. ....... .... , ((, w,, UWkUM,,. V, C VJIUIlll, I.IIIUU .., ..,. m.u ....... the very recent death of tho bridegroom's Henry' Rauderman of Newark attended mother none but relatives were present tho pair. The bride's gown w:u whlto to witness the marrlago ceremony, which crepe meteor fcrlmmud with Venetian mce. was performed by tho Rev. Wilbur Cbji. 1 Kho woro a bridal veil and carried a. bou welT, assistant rector of SL Thomas's 1 quet of whlta roses. Her ornament, was Church. Tho ceremony took place under, a diamond sunburst, the gift of the a bower of palm and whlto hydrangeas ' bridegroom. D. S. MINISTER MORRIS DEPARTS FOR SWEDEN Stjnulnrd Oil to Sonrt Yacht for Miss Knthryn Hnnison, Onco Roprcrs's Secretary. Ira Nelson Morris of Chicago, recently appointed American Minister to Sweden, nnd Mrs. Morris and their children sailed lant night on tho steamship llergensfjord office, which are now In the hands of Charge d'Affalrs on account of the war. Princess Rraganca d'Avellar of Portu gal, who ba been nt the Illltmore for several dayo waiting to take the first Kteamer to Gibraltar, ha become alarmed over being marooned here for an Indefi nite length of time The PrlnCARS hart booked passage on the Haxonla bwt Sat-' urday, but the departure of the steam tOilp was postponod She came to this country a month ago with her mother. Mrs Hnne Van Krehhll, with whom she i returned to her former homo In Okla- homii. It was whllo sho was on her way j Iwick to New York that tli war broke out. I Prlnco d'Avellar li In Portugal, Miss Kathrvn I. Harrison of 13M Dean, or tno -Norwvgian-Amorlcan Line rrom ownM occuploa an unusually Important , " L,'1 , the Rush Terminal Rrooklyn. or Rergen, I dlplomatlo post at the present time I ,!Xr"h el to Lane wore merely Norway. Mr. Morrla Is en routo to Wl. ftat beny Ute cj- ,n 'hi. dissenting opinion Judge Hanborn Stookholm to take up the dutlm of his ". .. .r". i. holds that the Issue In the case was not street. Rrooklyn, once private socrctary , The special train reached Uncnlngton to the Into Henry H. Rogera of the Stand-1 at 5 of The Pr'sldont rode In an nrd Oil Company, Is stranded In Paris automobile to tlm Whlto House lm and will be brought to this country on mediately, one of tho "cruising yachts" of that com- bhortly after dinner the President went pany In case sho Is unable to get passage t"T a long automohlle riilo through Rock on a stoamshtp sailing soon. Ooek Park and along tho banks of the It wa said at the company's offloo I Potomac Ho was accompanied by his yesterday that a cable me.ssagu had been 'laughters. Miss Margaret Wilson and forwarded lo Miw Harrison that sho Mrs. Sayro. would receive every nsils'unro and that tho company Is icady to send one of Its irdlner u Stnto Committeeman, yachts after her If necea-ary. The state-1 Minkoi.a, L. I., Aug. 12. The slated mint wa added that the officials of tho i successor as Stnte committeeman of Henry company throught a great deal ot Miss j., Krlth. Just appointed Collector of In Hnr.lson, who went to Parln last May tr rnal Revenue or tho first district of to study niiislo and art New York, Is Rertram tJardlncr, n lawyer Word was reeelv.d III Rrooklyn yes-i of Harden Cltv. Ho has heen nromlnnnt I terday that Suiireino Court Justlco D.ivtd r. .vianiiuig nun nis wun nnil eon, itoneri i Tliough not In accord with Mr Keith's Y. Manning, nr at the Hotel Rlti In I methods, Mr, Gardiner went to Washing IJarls. I ton on a chiractor witness for Mr, Keith. HARVEY WEDS and the bride passed through nn aisle formed of clusters of whit flowers at-1 tached to gilded stunchlons lo tho teni-1 porary altar with Iter uncle, who gave , her nwav Sho woro h gon of wblto jfutln drajMvl with chiffon and duchess poini laco aim ner veil oi laco icu over a long court train. Her bouquet was of lilies of the Milieu, white orchids and natural orange blossoms. i Miss Helen U.lbork, the maid of honor nnd only bridal attendant, mire a cos-. mine of uiilto taffeta and ihllTon In i her coiffure ehu wore a wrvnth of rose le.ivos lasioncu wiui a cluster ot jium tnlitnon roses, carrying a bouquet of tho an.e roses. rrederlcK ii. i-inKUs aote-i nn ii,D urviiict a 111,111, 4 umm lumti- i-on was served by rv-ed by Delnionlco .-liter tho nur?,lon of overcapitalization was In Is Mr. and Mrs. I'lnkus will llvo ,,,, tno ,,rop,rty 0f tho five combining ceremony. in this city wlicn they tcturn from a woddlng trip. ,nsh Arnold. Mm M freveji Arnold, a d.tugh t f ,h , , Thomn., oi.iy Arnold of Nowport u, j., nnil sHvani.ah. Oa.. was .,Arrts , ..,,, r,nvun.t vh nf .. . -,,v vesterdav iiftornnon In tlm . . ... .. , . cnaniry oi uraco unurcn in me presence 0f a smAll gathering of relatives nnd In- friends. The Uev Uenjomln M. tVohburn, who Is acting for the Itcv. Dr. fh.rlej. I. Klntlnrv. reefor of Ihn r.hllrrJi. cnariea i.. manor, rccior oi ino cnurcji, d , ummer. performed tho mar- , cremony. The d c..d -v.. cn.n.rv wlth hor '''"'''""-In-law. Ulft ItV. KroderlPk Wol- co Jackson, who gavo her away. There ., . . . , .." . tn.ui. wore no brtiwil nttenaants. rrnncln I'nulp k-i, hb tft mini. Immediately .iftor th w . , v-r.-v. u. , i "r.'h,"V..,afLf.r.. !.lP . . . t. - ttui... w.... .... i...i. lJ UlU .tiillU .I1UUII lilin .11114 nil llll'ir IV- lmi ,V(, M li2 py.u Rtnvt. The bride Is well known through I'Wtrults of prominent Individuals and l,a!4aed murtl " Europe. .Mr. ... ' , , . . : Cleveland Coxa. Ho 1b an architect bv profession and after having been grad uated from Harvard studied at tho Heaux Arts, In 1'artn. Ilopler Hud I ne. Dover, V. J., Aug. 12. The marriage of Miss Addle May Itudlne, daushter of Councilman nnd Mrs Kustaee V. Hud ne. to Kdgar Lynn Hoplcr, son of Mr. and Mrs Kdgar D. Ropier of Vbnrton. took Place at the home of the brides parents, 135 Richards avenue, this afternoon. Th' Rev. Hoylan lltzgerald of llr.icc Mo'ho dlst Kplscopal Church performed the cere mony. ngrl Holme, Miss Caroline Rohne. daughter of Mr. and Mrs. I-ouls llohnc of West lloboken, ana vjnanes ,agei oi .icwai-ii, wero nmr-( rt.,1 vr.trdnv In the Holv l",imllv Catho- i i. 1t.l. mil Mr im.t Ml. WANTS GERARD FOR GOVERNOR. County Clerk Schneider Mays He'd Harmon! Democrats. County Clerk Wtlllam F. firbnrtder, head of the orgamltatlon of antl-T.im-many Democrats known aa the Demo cratic Association, announced yesterday a plan to harmonize the warring Demo- another tnny wr0 j cnnstnt communl cratlc factions of the city and Slate in cation with Gooreo W Terklnii order to Prevent tho defeat oi any nietn-( tr of the New lork delegation In Con-' gress who have oeen supporting Prudent Wilson. Mr. Schneider be levee that to preont the low of any - o th-;Deinijlo CotiKressmen Jamoa Ocrard. AinDa.t- fndor to aermany. could bo perwiaded to accept the ""S0'"' 'N,lirkrifr;. a united Democracy, Whtlo I realize that Ambassador lYeeldent Wilson himself In tho Intertot of harmony," said Mr. Schneider. "Am bassador Gerard would be aoccptablo to Tammany HaTl. President Wilson. W. 11. ""I"1 ' PRESIDENT AT HOME AGAIN. He not urns. From Wife's I'nneral and Token I,oiik Illdc. WABHWnTON, Aug, 12. President Wll son and Ills "family returned to-day from Rome, Oa whern his wlfn wns burled yesterday. The President had been ac companied by his three daughters, by his sons-in-law, Secretary of the Treasury . McAdoo and Krancls Rowes Sayro; secretary rumuiiy ana ir. cary t. ciray eon, his physician n Democratic politics of Nassau county. HARVESTER CO. MUST DISSOLVE; HELD ILLEGAL United States Circuit Court So Decides in a Two to One Division. TRUST MORALLY GOOD, BUT LEGALLY BAD Appeal "Will Be Made to Stay the Order of Dis solution. St. Paul. Minn., Aug. 12. The In ternational Harvester Company was de- .tae.l titf 4hn ttnlffrl Ktnfrs Circuit Court I to-day to be a monopoly In restraint of (trade within tho meaning of the Sher ! man anti-trust law. An order of dts 1 solution was Issued nnd unless the case . Is appealed tho company must within ninety days submit a (dan for splitting the combination Into nt least three In dependent concerns of about equal size and with no common stock holders. This was the majority decision as rendered by Circuit Judge Walter 1 Smith of Iowa and William C Hook of Kansas. A dissenting opinion was filed by Circuit Judge Wnlter A. Sanborn of Minnesota. In a statement Issued In Chicago this afternoon Cyrus It. McCormlck, president of the company, says that an appeal will be taken to the United States Huprcme Court. It Is held that the Sherman law was violated In 1901, when the live original companies combined nnd eliminated com- petition among. themselves. The decision noma inai nue win imcrnnmuini vester Company and Us selling concern, the International llaivester Company of America, control from 80 to 8E tier cent. of the trade In agricultural Implements manufactured by them they have treated smaller competitors rainy. It Tendeno IllrRnl, V-h,Oi,Ia. I I- li.tlH li-t 4 V, 1n. Afney of thp combination to monopolize No organizations being greater than the etock Issued by tho International Harvester Company. The opinion of the court Is that the union of the five companies was Illegal beemtse ns separate concerns thy could not make a legal contract as to prices or as to collateral services. The majority decision says : "If tho live companies which formed the International had been small, and their combination had been sscntlal to enable them to compete with lajvc cor i"i.h.fii.-. m nm nu: umi imn i uniting would. In the light of reason, not ''M'0 ,"'n ln restraint of trade, but In the furtherance of It ; but whon they con- porations In the same line, then their tltuted the larzeet manufacturers of their articles in America. lf not In the world, and held Jointly about 80 to 8B per cent. of tho tradn, and two, nt least, of the companies forming the combination were prosperous, their combining was, when hlmllArlv v!tvil. nn tmeAfijiniiiihT en. i - . .u... ... straltit of trade I "lf " business of the separate coin- combining was unsuccessful jt '" ' fhat their combination was 1 reasonable In view of Ui rule, of reason as , i.mrlnirti, ,1 hi- ih Simrnm f.,M ,,.ii,i. , conceded that the McCormlck and th Peering companies had itabllslnl rea sonably suoresful and prosperous busi nesses, so that question Is eliminated. "Thorn Is no limit under the American law to which a business may not Inde pendently grow, and even n combination of two or more businesses. If it does not unreasonably restrain trade. Is not llle g.il. bin Ii Is the combination which unreasonably restrains trade that Is tile- gal. and lf the p'artles'ln controversy have i so or Hi per cent of the American busl- nes. nnd by the combination of the com. panles all competition is eliminated be tween the constltutent parts of the com bination, then It la restraint of trade within the meaning of the statutes under all of the deolttons." Illnnieri for Tvto Action. . . . . 'or.lwo or..lls n.1l?nH th0 company Is Oinme.1 in tne opinion of the court, Criticism Is made of the advertising of rne products of D. M. Osborne A Co. as those of an Independent concern for two years after It had actually been Incor porated with the International Harvester Company. The court holds that this -as done In order to trick purchasers who wr opposed to buying from the combina tion. Another point of criticism Is the prooesa by which the five original companies were turned over to tho International Harvester Company through William C. Lane, a New York lawyer, who appeared as tho pur chaser of these, properties Traolnr the j formotlon of tho combination the decision nam inav representatives ot tho parent concerns met In New York on July !8. iwui, ana wnuo rr.ey am not see ono Tne was that Mr. Lane obtained from won company a contract to sell Its ,poperty l0 hlm wltn UlB und;tanaln" , thftt n, ,ntenlHd t0 transf , On the , th international Harvester Company ! fopmwl Mr jn, nn. , ; , tt'of hwpeX'fSr S? p"u ' ohn'", of wh,l "d contracts, P -,h ..,. ,H, .. ' .' Tr'. ,"" what tho company or Its predecessors did In 1502, but what ths concern was doing In 1912 when the complaint was died. Ho declares that tho evidence convinces him mat tor at least seven years bcforn the beginning of the suit the defendants were neither restraining unreasonably nor threatening to restrain Interstate or for eign trade. Cyrus II, McCormlck Says the Com pany Will Appeal. CIHCA30. Aug. 12. Cyrus H McCor mlek. president of thn International Har vester Company, said to-day that an ap peal would be taken from tho decision of dissolution handed down by the Dlstrlot Court, "The opinion." he said, "acquits the company and Its officers and directors of the charges of overcapitalization and un fair and oppressive policies and practices. It does not sustain the charge made In the petition of tho Government that tho company had charged excessive or unfair prices. "The organization of the company Is condemned by the majority of the court a a violation of the Sherman act, but the company Is not found guilty of having violated the law In the conduct of fts business or of having Injured Its cus tomers or Its competitors. "The conclusion urrlved at seems to be that tho Harvester Is a good but Illegal trust. Its business has been con ducted fairly and the economies secured by Its organization have Inured to tho benefit of its customers, the farmers, but nevertheless the majority of the Judges hold Its existence Is Illegal, "Tho decision Is by a divided court and the case will not be ended until the Su premo Court has atd tho last word. We The Wanamaker August Furniture Sale to Business Men Office furniture of various sorts in cluding desks, chairs, tables, filing de vices, etc., at 10 io 50 Per Cent Below Original Prices Some of the chairs and desks that have previously been in a half-price sale arc now still further lowered 10 per cent and more: Mahogany arm chair now $33 'and $45 Mahogany tabic, 18 x 28 in now $25 Mahogany roll-top desk, 72 In now $70 Mahogany roll-top desk, 66-in now $60 Oak flat-top desk, 42-in now $18 Oak flat-top typewriter desk, 50-in., now $32 Come and See for Yourself Bureau of Office Fumlture Seventh Gallery, New Building. JOHN WANAMAKER Broadway at Ninth Street NEW YORK. jitlll hope that the great publto benefits secured by the organization of the com pany and tho methods adopted In carry ing on Its business will be made perma nent by tho Html decision of the court of lat resort. It may bo that the court will hold tho view exprwed In the dissenting opinion of Judge Sanborn." MORAL VICTORY-PERKINS. Dissolution llriivflcliil to ftocldiold rrm, lint Not lo Farmers. George W. Perkins, chairman of the finance committee and a director of the International Harvester Company, whon osked yesterday about the effect of dissolution of tho corporation replied: "The effect of tho prooscd dissolution of tho company Into three separato parts would bo the naine as In tho cases of thn Standnrd Oil and American Tobacco companies. It would result In enormous profits to Inside etockholders and a great Increase In prices to tho farmers, tho ultimate consumer.." Mr. Perkins alw lssuel tho following stateiment: "I havo not eeen either the majority or minority decisions In tho Harvester case, but from what I learn tlm three Judges who heard the cno have given j the company n clean bill of health ns to , Its buFlnitw conduct; therefore the com pany has received a moral verdict. Ap parently two of the Judges say tho com pany was Illegally organized because of certain clauses In the Sherman act. The other Judge dlsagreen with this view. "Rolled down tho decision teems to j mean that, broadly speaking, the com- I pany In right under modern moral", but I technically wrong under an aroh.ilc law. , It 1s gratifying to know that tho com pany hits succeeded In fully meastir'ng up to the business requirements nnd moral standard of tho present time. The qiie tlon arises, is it going to be Imposslblo to do this and llvo up to the technical leiral requirements framed for buwlnoss twenty-tlvo years ago? Are we nfter sub-; stance or merely form? The case will , be appealed to the Supremo Court." , GEORGE J. GOULD DENIES PLOT. , Answers Conspiracy Cliarne of Knthrlnri C'lrmmonst tlonld, George J. Gould filed a denlat In the Huprcmo Court yesterday of the chargo by Mrs. Katlirlno Clemmons Gould that he has entered Into consplrncy with nows-rd Gould to defeat her rlshui under a decree of Reparation b!i got trcm Howard Gould In 1900. Mrs. Oould'a charges were made In hor answer to a suit brought by Ooorgo J. Gould against her and her husband for tho sale of the Jl.00fl.000 property at the aoutheaat cor ner of Fifth avenue and Sevcnty-thtrd street because Howard Gould failed to pay Interest of $17 S2 on a tax Hen and George J. Gould male the payment for him. Mr. Gould admits that when his brother failed to pay tho S17.S2 his Income wn upward of 1. 000,000, but ho denies that tho suit Is part of a plot. AMCSEMKNTS. WINTER GARDEN Kn:1 MM. To-Dv. Wt.t Orrh SpM M a ml JI W -1 . SHUBERT t"-."' "W ii s l THE THIRD PARTY rMKMi.?" tlHTII r. Th'S I'l HliV Mats V i A Sal 1 TOO MANY COOKS C0!i:i)V Th-trr, 41 it si , ni-sr ll'vny i.vka, nu:o. IAI. Tuf S. A Sat 2 Co. KITTY Mac KAY iilh QT TinUTHl'.. N'r NEXT MONDAY ll'wsy llefg & SYLVESTER SCHAFFER CASINO. 3 P it IVtSeat:Sr Kvs VTO, I&--HV, inn Tlmo This .Sunday Myht rant .T.llnlnrjS 11114 African Hunt Vlrt'a, MANHATTAN Pp. ho.. imi, st, a sin av ,n....r.. . . Mm ilMlnrrtt Wed. tc S.VI IWirstl Ml, III. All 1. I SI' XT PEG O' MY HEART Uam XTM HIS NFW YHRIf ii'wsy,Mt.i)iy. tav-s p m :.v. nCIf lUilKuM,' (.Slirhts. 815, 2.V-A MV WM. J. BURNS - s trand! lireadwny MutllllKT BDKSON'ln A 47th St. rhefsltof llieNorih' Noon to IStrAntl Oreli A Sotnt.if, 1 1:30 J M lO-W Nt Wk.' X'nlleyot the Moon" A I'I.iii.iiiv i:.miii.mmi;,m I 111: I'AI.MDD Hllllt.K. H AMMEHSTI'.IN'S ROOf TeMe 50C &Ually Mat .A.VN'o STKI.UX MAYIH'XX, A Haldwin Moane A Marlon Morunn, War Pictures A IS Others, n.K.BKITII'S Price A Kln, Jo. Santley. 'fll A C P! Adelaide ft liiislifs, Arijle'ii M u " - Lions, xx'm. II. Thominon, Ao. DllI.ICIDU.S U-IMONADH VHKi: TO AM,, rSTBHNATIONAI. TENNIS MATCH RC Kmrvt lofttn for tn-day'a ulnelea at .lncot Ticket Office, Normanillo Hotel, liroadway aJid SSth HI. I'hona 418J Oreeley Lining 'em out to-day! Sale of athletic underwear! Union suits sleeveless, knee length of fancy striped cotton, handkerchief linen, silk and cotton and a few silk. 869 are $2.00 values. $1.35 969 are $3.50 values. $1.85. Single garments too in ath letic style. Handkerchief linen, fancy cotton and cotton mesh. 442 are $1.00 values. 616 are $1.50 values. 65c. Shoo! The shoe sale started yes terday with such a hurrah that to-day the bargains are mostly narrow widths. $3.00 to $7.00 formerly. $2.75 now. Rogers Peet Company, Three Broadway Stores t at at Warren St. l'3th St. 34th St. AMCSEMKNTS. 1hee New lntk I.radlnc ITiralre. Iliie Nn llfallngi hHIi the ly.nn Cn. NEW AMSTERDAM Var.. Af".I ,'!i,r..Vr.,''nrnl"ni"e Don't I'll in Xl'lt .ii.ir i. ii m.sr in: roi t.n s Hrservr tallies In ndvinrr Tel linnnl JOM HUDSON .iti,,st Vint. XCe.t A !ai SCUMMY A Detective rnml Ijiiis'ib AridThrlllk' l.NICKrwjof hi ( 2 16 A H.ts tjtit XTeeA 1 'em Nrt MonitM l inHK TItl'AI I THIRD! Ml W -. 1 1 . 1 W rju.1 COHAN'S f'y.; !;. gtmilMNHlii;) FULTON RSY Kl.VlllltllllW Mlilll A I n.'jn. a Nf-W TWiv nrno ,sr ATS i a nc i: II HI IJ 1 j JJ O OW S trht See hp- 'nuiar xeiit ri.inos Olgnj OBBIIIK Ar,mn, janhtun Iile. Itelirfthlnr Di llsfltful I.v ft XV. 43d tit Dlly A Hunt 10 u A 3 30: lOmtlrt. Mutlf Urturer Tk.v roldrrkAllllotai.ATkt Ororrt Tel SMICrsmerey I IS1HA Bfttl A CniICA nl hl i m mu fa w w II A N II Aimu.i is.m.io Tree t'onrert Afternnon lite. G OLUMBIAk'w; BURLESQUE,, BERT BAKER flii' BON TON GIRLS ' 1 1 -H A"-,t-:sTA,nA;?'T?'- 14th HUMt. ihu tlb Ait.