Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-10-18
MEN WHO MADE The TRUSTS.
The Presidents Of Three of the Biggest
of All the Combines,

of All the Combines,
AND JUDGE MOORE. WHO HAS PRO
NOTED MANY COMBINES, AP-
PEAR BEFORE THE INDUSTRIAL
COMPASSIONATE OF THEM
QUITE NATURALLY AGREE
THAT TRUSTS ARE GOOD
THINGS AND THAT WITHOUT
THEM BUSINESS COULD NOT BE
CONDUCTED.
WASHINGTON, October 1.-THE In
dustrial Commission continued its in
quiry into the trust question to-day, the
witnesses being President Daniel G.
Reid, Of Chicago, of the American Tin
Plate Company; VIM. Refs, of Chicago,
president of the National Steel Com
pany; Charles S. Guthrie, of Pitts
burg, president of the American Steel
Hoop Company, and Judge VIM. II.
Moore, the promoter OF these and other
trusts.
Mr.. Reid, in reply to question as to
whether the books of the company are
open to the inspection of stockholders,
produced series of resolutions adopt
ed by the stockholders at their first
meeting but not heretofore made public,
providing that the books in which the
transfers of stock shall be registered
and the books containing the names,
addresses and number of shares re-
spectively Of the shareholders, shall be
at all times during the usual hours of
business, open to the examination of
every stakeholder at said principal
office.
He said that Judge Moore had organ
lied the combination and had received
for his share $10,000,000 worth of the
common stock. The consolidation had
been made to prevent absolute failure,
as many Of the tin plate establishments
were rapidly drifting into bankruptcy.
The prices of the product had increased
rapidly since the organization and there
had been a corresponding advance in
wages. He estimated that the increase
in wages and in employees would repre-
sent an enlarged pay roll of $4,000 900
annually. The rolling mill men in his
establishment were paid as high as $40
per day, the highest price paid to any
laborers in the world, The average
wages of their employees were $3.50 per
day. The advance in the price of the
finished product had not been equal to
that of the raw material and Of wages.
HE ADMITTED
that there had been talk of a require
ment on the part of the tin plate COM
pany that patrons for whom the COM
pany should make special brands
should be required to purchase their
entire supplies from that company, but
the regulation had never been enforced
He explained the relations of his com,
pany with the National Steel Company
and the American Steel Hoop Cons
pany, saying that each company had
directors who held similar places in
the other companies. The Tin Plate
Company buys half of its raw material
from the National Company, but 1t
buys, he said, where it can buy cheap
est There was more or less of CO.
operation, and this cooperation afford
ed a means of keeping well informed.
Mr.. Reid said that thirteen mills had
been shut down because of their poor
location. but twenty-five new ones had
been started. There were 80 establish
ments in the combination, hessaid.
Without the tariff, Mr. Reid thought
it would be impossible to manufacture
tin plate in the United States. The
margin is now sufficient to permit the
increase of the price of American tin
plate to $525 per box before bringing
it into competition with the English
product. He estimated that the manu-
facture of our own tin plate had re-
suited in keeping at least S35,000 900
of money in this country, which other
wise would have gone abroad. In the
SO establishments owned by the com
bine there were 300 mills. while the
outside establishments contain " mills
The American company
MANUFACTURES NINE TENNIS
of the tin plate made in this country.
and controls the price, he added
The testimony Of Mr.. Refs agreed in
most respects with that of Mr.. Reid,
especially in regard to the increase in
wages and the advance in the prices Of
raw material
Mr.. Refs differed from the other wit
.nesses in his estimate Of the effect OF
the tariff, saying that directly it did
not benefit his industry in the least. He
said that his company did business with
the tin plate company on the same basis
as with other patrons, but admitted that
the relations of the two companies
were confidential.
Mr.. Guthrie said that he found the
combination of interests represented in
the Steel Hoop Company of vast adj
vantage in many ways, and especially
in securing a foreign market. He hoped
to see the time when the export steel
trade Of this country would be ten
times as great in volume as at present.
He considered the tariff of very ma
teriai advantage to the industry.
Judge VIM. H. Moore. Of Chicago,
who had organized the American Tin
Plate Company, the National Steel
Company, and also other combinations,
explained his methods at length. The
organization Of the tin plate company
had been undertaken at the request Of
the owners Of a number of tin plate
establishments. He bought each OF the
SO concerns interested in the combina-
ton and then gave the owners the priv
ilege Of
ACCEPTING CASH
at the valuation agreed upon or stock
at the rate Of one share of common
and one share of preferred for each 500
in valuation, the par value of the
stock being 500 per share.He said