The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1901-05-13
OPPOSED TO
PUBLICITY.
SChwab Wants No.
Airing
SAYS TRUST CORPO-
RATIONS ARE SACRED
And Their Accounts Should
Not be Exposed; How
the OCtupi Works

Washington, D. c., May 13.-When
asked ina detail far the plan cf manage
ment OF the various companies combined
IN the STEEL company Mr schwab said
10 was the purpose OF the parent COM
pany TO control the Subsidiary organlza'
tion Ia harmony but this wos 60 be done
by Indicating the onicer Of the various
concerns There may not be so many
names OF influence ON Tho boards ne
said. "but the management viii De eific-
lent"
Mr. schwob excused himself from
speaking concernine the details OF The
organization OF his company once or|
twice saying that questions concerninE
capitalization. premiums etc. should be-
asked of Mr. Morgan "I don't know
the steel trust" lt said, when someone
so designated his company. i'm ger-
eral way he would say that the company
Is organized upon tho same plan as the
federal steel company but he did not
consider the company over capitalized.
lie said the assets of each OF the suhsi-
diary companies had Increased in value
since their organization, and that tbs
popular estimates az dnot place "a suffice
lent value upon the mines owned by the
company. He also stated IN this connec-
ton that the company owns sixty thou
san dacres OF Connellsville coal land and
that in as iron mines there are 800 O0O.-
600 tons Of ore In sight. He thought
reasonable pront on this ore would
be s. per ton Asked how long he thought
these mines would be able TO meet u
demand, Mr.. schwab placed the limit
on the iron ore az 30 yeors and on the
coal al sixty Each OF the constituent
companies ne said makes its own pur-
chases and IT'S own sales. I'm a word,
he said, (" the United states Steel Cor
poration is a clearing house to which
its constituent companies go for inform-
alton"
lie admits that the company sells many
OF its products at lower price in for
eign markets than at home. saying that
this practice Is followed to hold the bar
kets.
The witness discussed the relation Of
the tariff to the steel industry at lenth
but he said that upon the whole ho
did not desire TO have the tariff changed
I'm any respect.
Considering It entirely satisfactory as
at present arranged. Asked for his opin-
ion as to the effect OF the enactment
OF the Babcock bin taking the duty
of trust produced articles. Mr. Schwab
expressed an opposition to It. lie did
not consider as possible an international
iron and steel combination regardless Of
an tarin restrictions.
Discussing the relation OF capital TO
labor, he said that while be would not
undertake 10 outline The future policy
OF the stec. corporal he dG not en-
dorse the policy of tho labor organiza-
tion as In the interest OF the laboring
man himself He did hope. however. 20
50 arrange matters that operatives could
share 70 the profits OF the enterprise.
Instead Of being a detrimcnt he consle-
cred the big corporations as anording
the best openings for labor and enter
prise 7rhere We're never such onpor-
tunltles for brains as today" he said
"If 1 were laboring man, as / once
was, / should not want TO belong to
labor organization lf,mployod by a prop
erly managed corporation. like the steel
company. FOR / would not want to be
put on level with the poorer workmen
in the extreme. The tendency IS TO give
the highest possible price for proper ser
NN'NNf tAANA NAW AiNAAANNN WA a. ANNhL WAEAAlr
ization Is In a position To- avail himself
OF such disposition.
lie said the average wages paid now
by the steel companies is higher than
previous to 1892. The question was not
one of wages, but Of the management
OF business with whichsthe labor unions
wanted 60 interfere.
Mr. schwab expressed himself as op-
of corporations, and said he had no ex
PLANTATION to suggest for the regulation
OF corporations
In conclusion, Mr.. schwab said he could
see nothing but good 70 sesult from bus
iness combinations. lie considered them
Of value both TO the investor and TO
labor and thought they were calculated
10 extend business.