1st SessionÌ SENATE (No. 101 INVESTIGATION OF CLOSING OF NASHUA, N. H., MILLS AND OPERATIONS OF TEXTRON INCORPORATED REPORT OF THE COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE UNITED STATES SENATE ON A STUDY AND INVESTIGATION OF THE CLOSING OF INDUSTRY TO SECURE TAX AVOID- MARCH 9 (legislative day, FEBRUARY 21), 1949.-Ordered to be printed UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON: 1949 SUBCOMMITTEE INVESTIGATING CLOSING OF NASHUA N. H., Mills and OPERATIONS OF TEXTRON, INC. CHARLES W. TOBEY, New Hampshire, Chairman BRIEN MCMAHON, Connecticut (Senator McMahon was unable to attend these hearings so is not participating in the report) ATLEE F. ZELLERS and CHARLES W. TOBEY, JR., Concord, N. H., Special Counsel CONTENTS Page I. Part I. A brief introduction of the trusts. (a) The Rhode Island Charities Trust.. (f) The Rupert C. Thompson Trust.. II. Typical provisions of charitable trust indentures. III. Unorthodox use of trusts for competitive advantage. IV. Financial maneuverings between the trustees and Textron... (b) The Manville-Jenckes maneuver. V. The bleeding and milikng of textile corporations for the benefit of |