Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1892-07-20
MUST SHOW IT'S BOOKS.
Illinois Steel Company In an Unpleasant
Predicalnent.

Illinois steel Company IN an UnpIeaSRnE
PredicaInent.
CHICAGO, ILL.,, July 14.-Before the
Interstate commerce commissioners,
who are investigating the various rail-
roads conferred here, had fairly settled
in their seats to-day, a conflict occurred
and the commissioners decided to
bring the Illinois Steel Company
to its knees by prompt action.
At Yesterdays inquiry President
Crimson, of the five small roads
which are alleged to be owned by the
illinois Steel Company, declined to
state by whom the stock of the lines
which he is president is held. He also
refused to state if the Illinois Steel
Company had any stock of the roads
In turn Secretary Keefe and Vice Pres
ident Sterling, on the advice of counsel,
also refused to answer the question:
When the commission met this morn
ing Chairman Neazey, addressing Vice
President Sterling said: "Mr. Sterling,
this commission asks you to produce
the stock books of the Illinois Steel
Company"
Before Mr.. Sterling could reply At
torney Wlthrow, representing the Rock
Island road, jumped to his feet with an
objection. "That is an unusual de-
mand," he said, because it is custo-
mary with all large corporations not to
permit its private books of accounts to
be inspected"
''Then you refuse to allow us to ex-
anime the books" inquired the chair
man in a voice which Indicated that a
refusal would be followed by stronger
demand.
hnCAry l.
the cOtlere of lawyers for conference,
after which Mr.. Withrow stated that It
would be unwise for the Steel Company
to consent to an inspection of its
books.
Then, | will subpoena you, Mr.. Ster-
ling, to produce the stock books of the
company" said the commissioner
shortly.
This announcement produced panic
among the lawyers. Lyman Trumbull
endeavored to compromise by saying
that if the commission would indicate
what it expected to learn from
the books they might be produced
This remark was lost on the chairman
and he added to the score by also sum-
moning Secretary and Auditor Keefe,
of the five roads, to produce the stock
books Of the roads. A comparison be-
Steel Company might result in some
thing interesting.
Dlst.-Atty. MiIchrist himself super
intended the drawing of the sub
penas. They directed the two Off
GERS named by order Of the Interstate
Commerce Commission, under the act
Of Congress creating the Interstate
law, to produce the books called for The
subpoena was placed in the hands of the
United States marshal to serve.
One of Vice-President Sterling's rep
resentatlve arose and stated that
in the matter Of the order to pro-
duce the books Mr.. Sterling had no au-
thority, in the absence of the executive
committee Of the company, to produce
the books. He would endeavor to get
the executive committee together, and
from them secure the authority
to bring the books IN. Mr.. Sterling
would accept service of the subpoena,
however. This ended the investigation
until such time as the books are pro-
duced. The officials of both the Steel
Company and the roads again formally
declined to answer the questions which
they refused to answer Yesterday.