New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-09-12
UNITY In STEEL TRADE
A PLEA By JUDGE GARY.
President Highly Praised at Notable
Gathering tn London.

rondon. Sept. 11-Elbert H. Gary. chairman
:. che hoard Of directors Of the United States
c.esl Corporation. eulogized President Roosevelt
- srolze IN favor Of cooperation and better
.,,5s-stsnding among the steel manufacturers
= re world at a dinner given in his honor at
peeo-n Club tonight by Sir Hugh Bell
--.sisent Of the Iron and Steel institute, and
- -,e-,s,e-s of the council Of the institute. The
80 oyer which Sir Hugh Bell presided. was
.-t,,,,e ~ Mr.. Gary's efforts TO bring together
-, o-era-c-s Of the world. Men promi-
=. a. .ts Industry in England. Germany and
- ,,-ara y,-esent Thirty persons sat down
: -. ,zi--er among them being Lord Airedale.
- rlan+oe Sir Weetman Pearson, Sir Rob
- Hatfield and other well known English
- mon Baron Won Bedenhausen, Of the
7-,- ,ornoanv: President Schaltenbrand Of the
60, steel Works. representing Germany,
- ~ Schneider Of the Creusot company and
- :. u F2-ioIle Of Tire Compton d Evaporation.
,.o,-esentfnr France Among other Americans
-. we're Consul General Wynne. c. 6. Nc
7r,-,rz. Of the United States Steel Corporation
- 1-,,ssv II smith. Of J. P Morgan & Co.
NJ cary came over from Paris for the din
Ea said that his visit to London was sole
re- +.ts nurpose. and that no meeting with
T,-s-isb steel interests was contemplated
- -o.l5 return 10 Paris on Saturday and sail
- - York next Wednesday. Mr.. Gary ad-
Re- +ra report in circulation TO the effect
-. The new patent law would compel the
---t-s5 states Steel Corporation TO build works
;, England was without foundation
= his speech tonight Mr.. Gary, after pay
g.. --f+-7-e 70 the British government and
King Edward, said;
a+her. nations are to-day equally fortunate
Nav digress for q moment 10 speak Of our
resident Nj Roosevelt. who has been some
rfr7as misunderstood. # not uisrepresenteo? He
: ro- sr enemy Of capital nor Of business pros
T5eri-v He believes that right conduct Is the
first essential Of national health. but ne also
believes that material success and growth are
necessary He does not attack individuals as
such be they rich or poor, but opposes what he
concefves 10 be wrong. whoever perpetrates it
Speaking about the recent financial crisis in
4re United States. Mr.. Gary said that in such
times previously every one sold his products
wherever they might be and for whatever price
he could obtain. Ar immediate and radical re-
duction in prices would have meant bankruptcy
70 g multitude o. concerns and the iron and
steel business would have suffered most This
business in the United States, he added, was in
the hands n men who could not be surpassed
intelligent. broad minded. honest and sincere.
Relating the plans made last November for
cooperation II the industry, Nj Gary said there
was no agreement 70 maintain prices. restrict
OUTPUT or divide territory. The companies kept
one another fully informed. each recognizing the
rights and interests Of al the others The
effort was q successful one. he said, prices were
maintained. Generalization and insolvency pre-
verred and greater profits realized. TIE benefit
resulting u general business was testified to by
hnanciers and the press. The most prominent
good done. aIr. Gary added. was the creation Of
The friendship now existing among the members
Of the steel industry. IN conclusion Mr. Gary
said
TIE manufacturers Of iron and steel Of all
countries should be working together with and
FOR one another. 7 do not advocate anything /
propose Is the utilization Of all Of our oppor- 1
tGnitIes for the advancement of al OF our in J
reres1s-a close connection and a. better under 1
fsnding. full and free Interchange Of ideas and /.
business in question. and an organized commit /
tee Of men whose advice should always be fol- 1
lowed.
sir Hugh Bell proposed the health OF King !
Edward and President Roosevelt and success .
70 the iron trade. He said this occasion must 4
rot be regae ded as Of public nature, but as a .
friendly gathering OF men interested in great .
industry. The hosts desired TO take the oppor- .
tanity Of Mr.. Gary's presence in London. he /
said 10 facilitate an interchange Of opinion .
among the heads Of the iron industry Of the .
werd. L was most representative assembly.
and much good would result to the iron trade /
i vas al industry Of peace. and he hoped their /
Efforts would always be directed toward the .
Preservation Of friendly relations He added,
In conclusion that he believed there was room I
ior further expansion Of the iron industry.