New-York tribune., 1908-12-11
GARY TO STEEL MEN
DEFENDS Association.
Says Meetings Of Manufacturers
Haze No Sinister Meaning.

guests of ex-Judge E H. Gary. chairman OF the
United States Steel Corporation at dinner
al the Waldorf last night The affair, according
to the host. a purely social one ana the
discussion of matters of strictly business
nature was barred. There was a general IN
terchange Of views, however. in regard 10 the
general situation in the trade and the outlook
for the future.
The principal object of the dinner. it was said
was to renew acquantances that had been mace
et similar entertainments last year The first
Of these dinners was given By Judge Gary IN
November, 1907, during the height OF the panic
and the harmony established among the various
manufacturers at that time proved to be OF great
heneAt 10 the trade in the period of depression
that followed. and that has not yet entirely dls-
/ appeared.
In his remarks last night. Judge Gary dwelt
narticularlv on the effort being made by those
interested in the iron and steel industry 10
establish basis Of friendly association and In
tercourse and gave II as his opinion that the
movement had resulted in much good to the
trade by preventing destructive competition and
bringing about stability as opposed 10 6emoraL-
ization.
He said:
The movement has been simply effort on
the part Of those interested in the iron ana
steel industry TO establish basis OF trlenais
TO enable each to obtain full knowledge con
cernng the affairs Of all the others. ana the
beneficial results which naturally follow such
knowledge. In other words. 10 expose. for tne m
benefit Of alp the individual action of each so
that every having a disposition to act Fea-
sonably and fairly toward his neishooIs me-
determine his course with full Information OF
all the facts.
That some. and perhaps many. of the leading
thinkers and writers have misunderstood our
action Is probable Some at least have cues
toned the propTiety. if not the legality or our
Efforts. and apparently others have belleFeu
these efforts would he of no substantial oenehl.
I think I represent the views of all present IN
saving we have never doubted the propr1ety or
legality OF our action. because We King" gu!
motives were good. We have never fntendeo
TO antagonize the laws OF the country or Iile
rights and. interests Of any one.
we have ccasionaIly read published criticisms
Of our movement on the ground that there was
a combination or an agreement IN restrain ol
trade: agreement. express or 1r1lphed' -
maintain prices. TO restrict output or TO DIVIDE
territory. But the fault lies in the unjusined
improper for competitors TO meet and WlthouL
reserve furnish full information and express
opinions concerning the business aHairs OF all
provided they not acting under an agree
ment express implied. II is not wrong
even though any all may be inhuenceo re
gardfng any particular business. nor even though
the result may be TO prevent radical ana uhiea-
sonabie changes in prices.
It is common practice the world over for men
engaged in all the different lines to frequently
meet their associates and competitors ana IL
freely discuss conditions and interchange views
respecting the proper and reasonable conopct ol
all concerned. II is not necessary to go INTO
details The suggestion covers farmers me-
chanics. bankers, laburers, merchants transpor-
tation corlpanies. professional people ana al
others Il includes prices, rates. quantities,
amounts. productions. sales. wages. fees. etc
In connection with the movement under CON
sideraton. we have had no agreement IN re
straint Of trade, express or implied We nave
never intended nor resorted to any evasion, ana
the public has been accurately informed concern
ing our action. Therefore. we may d1s1nlss liils
subject with the statement that II We snail De
convinced we are wrong in our conclusions, ot
that have antagonized public interests OF II
complaint Is made by any one authorized 10
make it. we viii discontinue our eroTts 10 CO.
operate. whatever injury may ensue.
AS to the results Of our efforts to cooperate
there is think no reasonable doubt they have
been of great benefit. The prices Of the differ
ent manufacturers have not been uniform. and
the prices Of each have fuCtuated more or less
from time 70, time. Some manufacturers nave
not been as considerate of the interests OF others
rs they ought to have been Perhaps an OF us
have been influenced by motives Of selffshness
But do not hesitate 10 say our movement mas
prevented wide and sudden huctuatlonS' de-
struCtive competition disaster and failure 20
manufacturers and their customers. reduction
Of wages and idIeness the part of employees
all Of which. except for our efforts, would have
We have been successful in securing stability
as opposed TO decentralization. This has tended
10 promote the best interests Of ourselves and II
others Whether not this movement for con
citation and cooperation as opposed to the un-
reasonable and destructive competition OF ths
rast shall continue to be successful l cannot
rsy As very learned and eminent gentleman
said to me within the last few days: 1t IS well
worth trying" | have great faith in the future.
The world is growing better. Soon it is to be
boned we shall even in business matters substi-
tute the principle that right makes might for
the old sentiment that might makes right. We
ought 10 be working together and for one an
other. Each should consider the rights and IN
terests Of all others. Let us be little more
generous toward each other. We have estab-
lished business friendship which should be
permanent and valuable.
Among those Who attended the dinner were:
W E. Corey. president OF the United States
Steel Corporation. Charles NJ. SchWab. presi-
dent OF the Bethlehem Steel Corporation: W l.
Brown president Of the American Shipbuildng
Company: f ]. Burlington. president Of the
Illinois Steel Company; c. w Bray. president
Of the American Sheet and Tin Plate Company;
John A Burden, president of the Burden Iron
and Steel Company: H. Coulby president Of
the Pittsburg Steamship Company; Edward NJ.
Haaar, president of the Universal Portland
Cement Company. j A. Hatfield, president Of
the American Bridge Company; James Lord,
president of the American Iron and Steel Com
pany. Charles MacEeagh, general solicitor,
United States Steel Corporation; Edwin H. Oil,
president Of the United Iron and Steel Com
panx: George w. Perkins. Of ]. P. Morgan e.
Co: David Reeves president of the Phoenix
Iron Company: John Refs, assistant TO the
president Of the United States Steel Corpora
ton; Francis L. stetson, general counsel of the
United States Steel Corporation: W. b Schiller
president OF the National Tube Company: John
A. Topping. president Of the Republic Iron and
Steel Company; Jean de Nazimoff, Of St Peters
burg Russia, and the presidents of the various
subsidiary companies of the United States Steel
/ Corporation
y III - -TIy