Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-04-30

| not urderbid to secure contracts. Judge
Gary also announced that the steel cor
| poration was willing to furnish Its scale
of prices to it's competitors. tell them
| whom it was dealing with and what its
| contracts are, provided everybody would
| do the same.
IF you believe that it is a good plan
| to get together and try to help each other
| instead of trying to injure each other.
and if the rest of you will make similar
| pledges the United States Steel Corpora
| ton will stand by these pledges .-1def-
| initely.' said Judge Gary. Every man
present rose to his feet and gave assur-
ances quite as strong and definite as
those Judge Gary had given. and. after
| general exchange of views 1t was agreed
| that there should be frequent informal
| committee of seven should ~be appointed
| to see that the pledges were carried out
| and to give advice. information and as
| sistance to members of the trade when
| ever it was needed. to hear complaints
about violations of the agreement, undue
| ally.
The following gentlemen were ap-
| pointed on that committee:
"E. H. Gary. chairman of the United
States Steel Corporation.
Charles H. Schwab, Bethlehem Steel
Company.
Powell Stackhouse. Cambria Iron
Works, Johnstown.
willis l.. King of Jones & Laughlin.
| Pittsburg.
"E c. FELTON,. Pennsylvania Steel Com
pany. Philadelphia.
Edward Bailey, Central Iron Com
pany. Harrisburg.
wv E. Corey. president United States
| Steel Corporation.
Operation of the Agreement.
"This committee was organized in No
vember and held repeated meetings, some
Of them being attended by other inf1uen-
tial men in the trade. 1t has worked with
perfect harmony and has brought about a
| friendly relationship among the manu-
facturers of iron and steel in this coun-
| try which was never approached by any
trade organization that ever existed be-
| fore. The most perfect confidence exists
! between rival establishments; they ex-
change information concerning contracts.
cost of materials. cost Of production,
wage scales and other matters as freely
| as if all were members of the same firm.
| The committee has heard several COM
| plants, but none of them have been serl-
Gus. Nearly all of them have been with
out foundation.
mot long ago the manager OF an indie
pendent company came to the committee
| to complain that one of his competitors
| who had been present at the October
meeting and had given the same assur-
| ances as the rest. by cutting prices, had
| beaten him out of large contract, to
| which he was clearly entitled. The men,
| bers of the committee questioned him
| closely and got all the information he
had. Then they requested him to keep
| the matter entirely secret until they were
given an opportunity to look into the
| other side of the case. which they did.
| They found. to their qualification. that
| there had been no price cutting: that the
| bids were almost precisely similar, but
the man making the complaint had lost
l hi ifny
| agreed to finish the job in shorter time.
| When these facts were laid before him
| he admitted he was wrong and Is now
! perfectly satisfied
I'm another instance complaint was
| made that the manager of one of the
| auxiliary companies of the Steel Trust
had been evading the agreement An In
| vestigation showed that he had plainly
| exposed himself to such suspicion, al
| though his action was susceptible of two
| constructions He was called before the
| committee and the matter was explained
| by him. While he was not willing to ad-
| nit that he was wrong, he acknowledged
| that the other man had grounds for doubt
| and readily agreed to revise the trans
action so that there should not be any
| question of his motives or his acts.
High Standard Maintained
"These two illustrations show how
carefully the managers of the iron and
n
| standard. of business morality they have
| fixed for themselves. and since their or
ganization the leading men in several
| other lines of business are getting to-
gether for the same purpose. Inc con-
certed action of the iron. and steel peo-
pie has also had a powerful influence in
restoring confidence. in keeping the
wheels in motion. and in preventing fur
| Their financial disturbances.
| 1.-The same gentlemen who were called
| together by Judge Gary in October had a
| reunion after an experience of six
months. He gave them a dinner at the
| WaldOrfAstoria at which consnat,1la
| tions were exchanged. assurances were
renewed, and the leading manufacturers
gave their views concerning present ana
| future conditions. They were unanimous
| in their opinion that the previous pros
perity would soon be recovered; that the
| business outlook in every direction was
encouraging. and that it would not be
long before the large army of unemployed
1 would he again at work. 1t was surpris-
| ing ard gratifying to observe the feelings
| of friendship and confio ence which now
exist among those who were formerly
| ugly and often bitter rivals in business -
|