The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-09-12
STEEL PEOPLE
GET TOGETHER
E. H. Gary Meets With Old
World Magnates at Ban
quet in London.
HAVE COOPERATIVE PLAN
ROOSEVELT COMMENDED BY
HEAD OF THE GOOD" TRUST.

4 London. Sept. HILBERT II. Gary. chair
nan of the board of directors of the
United States Steel corporation, eulogized
President Roosevelt and spoke in favor
of cooperation and better understand
ing among the steel manufacturers of the
world. at a dinner given in his honor at
the Reform club tonight by Sir Hugh
Bell, president of the Iron and Steel in
stitute, and the members of the council
of the institute. The dinner was trio-
ute TO Mr.. Gary's efforts TO bring to-
getha the steel operators of the world.
Men prominent in the industry OF Eng
land. Germany and France participated.
Thirty at Dinner.
Thirty persons sat down 10 the dinner,
among them being Lord Airedale, Lord
Glantowe. Sir Weetman Pearson, Sir Rod
ert Hadfield and other well known Eng
fish steel men; Baron Won Bedenhausen
of the Krupp company ana freslueht
Schaltenbrand OF the German Steel works
representing Germany, and M. Schneider
OF the Creusot company and Nj. de la
BrioIle of the Compton transportation
representing France. Among other Amer
leans present were Consul General Wynne.
c. G. McNurtry of the United States Steel
corporation and Vivian II. Smith OF J.~P.
Morgan & Co.
Came Over From Paris.
Mr.. Gary came over from Paris for the
function. He told the Associated Press
that his visit TO London was solely Tor
this purpose and that no meeting with
the British steel interests was contem-
plated He said that he would return
to Paris Saturday and sail for New York
next Wednesday. Mr.. Gary declared that
I the report In circulation 10 the erect
y that the new patent act would compel
ihe United states Steel corporation to
build works in England was without foun-
dalton.
Taffy for Roosevelt.
In his speech at the banquet tonight,
after paying tribute TO the British gov
eminent and King Edward, he said:
''Other nations are today equally for
tunate. May | digress for a moment TO
speak OF our president Mr.. Roosevelt, who
has been sometimes misunderstood, II not
misrepresented? He is not an enemy OF
capital or of business prosperity. He 3e
heves that right conduct is the first es-
sential of national health. but he also
believes that material success and growth
are necessary. He does not attack in
dividuals as such, be they rich or poor.
but opposes what he conceives to De
wrong. whoever perpe;rates II.
The Recent Panic.
Speaking of the recent financial crisis
I'm the United States Mr.. Gary said that
In such times previously every one sold
Ms products whatever they might be and
Dor whatever price he could obtain. An
Immediate ana radical reduction In prices
would have meant bankruptcy TO lnnl-
tituGe of concerns. he declared, and the
iron and steel business would have sui
fered II ost This business in the United
States, he added. was in the hands OF
men who could not be surpassed-lntel-
lgent. broad-minded. honest and sincere.
Plans for Cooperation.
In relating the plans made last Novem-
Der for cooperation in the industry. Mr..
maintain prices, restrict output or divide
territory. The companies kept one an
other fully informed, each recognizing the
rights and interests OF all the others. The
effort was a successful one, he declared,
and prices were maintained, demoraliZa-
ton and insolvency prevented and greater
profits realized Tine benefit resulting to
the general businss was testified to by
financiers and the press. The most prom
inent good DONE Mr.. Gary added. was the
creation of the friendship now existing
among the members of the steel industry.
In conclusion. Mr.. Gary said:
Should Work Together.
'"rhe manufacturers of iron and steel
of all countries should be working to-
gether with and for one another. | do
not advocate anything antagonistic to the
laws or public welfare What I propose
Is the utilization of all of our opportu-
4 mites for the advance OF all our inter-
ests-a close connection and better I'M
Outstanding; full and free interchange of
ideas and information by one to another