New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-10-18
THE TRUST INVESTIGATION.
GROWTH OF THE AMERICAN TIN PLATE
INDUSTRY DESCRIBED.
PRESIDENTS OF GREAT COMPANIES TESTIFY BE
FORE THE INDUSTRIAL COMMISSION
HOW THE TARIFF HAS BEN
Fitted wORKINGMEN.

Fitted WORKINGMEN.
Washington. oct 1.-THE Industrial Commss'o"
continued rs inquiry into the trust question To-Day
the witnesses being Daniel g. Reid. OF Ch'cas0'
president OF the American Tin Pate COMPANY
Vuii,n, Rois Of Chicago. president Of the Ma
tlonal Steel Company; Charles s Guthrie OF rus
b,rg president Of the American Steel Hoop Com
nanv and Judge William II. Moore the promoter
OF these and other trusts
Mr. Reid IN reply 10 questions as 70 "he'her inc
books OF the company open to the Inspection OF
Stockholders produced series Oh revolutions
adontef hv the stockholders at their nrst meet
ing but not heretofore made public. providing thd'
tho hooks in which the transfers of stock are regis
tered and those containing the names aou'e
and number OF shares respectively or 'he SNARE
holders shall be at all times In the usual hours OF
business open to the examination OF every STOCK
holder at the principal Office He said that Judge
Moore had organized the combna ton ana had re-
co,ved for his services 100000 worth Of common
stock The consolidation had been made 10 prevent
absolute failure, as many Of the TN plate estapnsH-
ments were rapidly drifting into bankruptcy Inc
prices Of the product had Increased rapidly s'"ce
the organization. and there had been correspond
ing advance in wages He estimated that the In
crease in wages and IN employees would represent
an enlarged payroll OF 100000 annually.
The rolling mill men In his establishment re-
celyed as much as $40 day. the highest wages
paid to any aborers In the world. Inc aFe'ase
wages Of employees were - ~ Gay Inc au'a"No
in the price OF the finished product had not been
eaual to that OF the raw material and OF wages
He admitted that there had been talk OF require
mont on the part OF the Tin Plate Company that
rotrons FOR whom the company made special
brands should be required TO purchase their ehu'e
supplies from that company, nut the resuiaton
had never been enforced. He explained the Ieid-
tions Of his company with the National Steel COM
pany and the American Steel Hoop Company. say
had directors
similar places In the other companies The Tin
Plate Company buys half OF It's raw material from
the National Steel Company. but II buys ne SAID
whore IT can buy cheapest. There was more or less
co-operation and this afforded means OF keeping
well informed.
MILLIONS OF MONEY KEPT AT HOME.
Mr.. Reid sal, that thirteen mills had been shut
down because OF their poor location, but twenty
five new ones had been started. There are thirty
nine establishments IN the combination. he said
Without the tariff Mr.. Reid thought It would be
nnnossible to manufacture tin plate in the United
States The margin Is sufficient TO permit
the increase OF the price Of American tin plate to
| s525 box before bringing II into competition
| with the English product He estimated that the
| manufacture Of American tin pate had resulted
IN keepjng at least S35 600 90 In this country which
otherwise would have gone abroad In the thirty
nine establishments owned by the combine there
| were three hundred mills. while the outside es-
| adjustments contain twenty-seven mills. Inc
| American Company manufactures nine-tenths OF
the tin plate made In this country and controls the
| prices he added
| The testimony OF Mr. Refs agreed IN most re-
spects with that Of Mr. Reid especially In regard
| IN the increase in wages and the advance In the
prices OF raw material His company. he said. was
capitalized for S59.cecco. of which s27o0ooo was
| preferred and the remainder common He de-
| clared that his company sold It's products to any
hat
not confined to the Tin Plate Company had
| been alleged In his combination there six
steel works and fifteen furnaces. The company
| also owns its iron mines and its boats fol-
| lake transportation The capacity Of the combine
cent OF the total Product Of the country Prices OF
| steel had increased since vast year from $40 80 t
80 50 ton and Of steel billets from SIS 81 TO from
Mr.. Refs differed from the other witnesses in hi.
| estimate OF the effect OF the tariff saying tina
directly 1t did benefit his Industry In the least
He said that his company did business with tn,
Tin Plate Company on he same basis as VIII
other patrons. but admitted that the relations o.
the two companies were confidential. His com
the company were In excess Of the amount rai'
rhs Company We're In excess OF the amount PAL,
in dividends. Asked II there any prospect o
have hopes" ard added that he could make state
ment Of earnings but would not like to do So h
tina, word ordinarily employed.
BEATING EUROPEAN COMPETITORS
Mr. Guthrie said that he found the combination
OF the interests repress nted In the Steel Hoop Com
pany OF vast advantage In many ways and es
pecally In securing a foreign market lie hope
to see the time when the export steel trade OF thi
country would be ten times great In volume Il
at present The United States had a vast advantas
over other countries In the plentude OF It's ray
materials and the inland water transportation fur
nished by the Great Lakes. These advantage
would enable this country TO beat all the Europea
countries IN the Orient. and In oil other place