New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-01-29
RLAMES WALL ST. BEARS
O4KLETGH THORNE TO
TESTIFY.
correspondence in Tennessee Coal
and Iron Case Made Public
Senate Leaders Embarrassed.
From The Tribune Bureau. ]

From The Tribune BureauI
washington, Jan. 2S.-Oakleigh Thorne. presi-
,snt o. the Trust Company of America is ex-
,scted 10 appear before the Senate judiciary
rornnittee on Monday to testify in the inquiry
into the absorption OF the Tennessee Coal and
Iron Company by the United States Steel Cor
,oratjon From correspondence between Mr..
rborne and a member Of the committee. ii is
.rpected that Mr.. Thorne will express the view
.bst the financial situation which led 10 this
absorption was caused by a certain group of
Wall Street brokers who were seeking to bear
.he stock OF the Tennessee Coal and Iron Com
rany Of which the institution Of which Mr..
Thorne IS president had large holdings; that
this movement was helped along by articles in
one or more newspapers. and that the result
was situation in which the President mis-
Led into the belief that the absorption was nee
essary to stay the panic
George W Perkins, member of the firm of
J. ?. Morgan Co, will be heard at 10 o'clock
Tomorrow by the subcommittee and such
members Of the full committee care TO at
tend All Of the sessions OF the committee will
be executive.
PRESIDENT HAS THE PAPERS.
Secretary Straus of the Department of Com
uerce and Labor has been asked to furnish TO
The committee the data concerning the merger
which was obtained by Commissioner Smith OF
The bureau of corporations. and has replied that
the papers are in possession of President
Roosevelt 10 whom the request should be di-
fected The members Of the committee realize
the utter futility Of eskings the President to
send the information and will depend wit
nesses from New York 10 supply evidence. The
committee has told Nr CulbersOn that any
witness desired by him would be summoned.
The Republican leaders have been taught
lesson by the progress Of this inquiry, and it is
probable that. for a time at least they will be
o,ol1lo
resolutions by charging Senate committees with
Investigations They regretting that
they did not lay the Culberson resolution on the
table The process Of choking off inquiry
which the leaders believe the Senate, because Of
its judicial functions. cannot with propriety con
Duct. is proving troublesome, and while no doubt
IS expressed TO the ultimate success Of the
plan it will be attended with more unpleasant
details than would have been the case had the
resolution been killed.
The Department Of Justice late to-day made
public the documents and correspondence relat-
ing 10 the alleged merger. The papers were
given TO the press after q conversation between
Attorney General Bonaparte and Senator Clark,
chairman OF the judiciary Committee, in which
It vas ascertained that there would be no OBJ
lection TO their publication. They include let
Ter dated January is from Senator Clark to the
Attorney General, informing him that the sub
meet on January 81. 'and will be glad 10 have
vou appear before II. if you desire 10 do so. and
submit any matter which you may see proper
to submit"
In acknowledgment of this letter the Attorney
General wrote January 20:
Imperative official engagements would make
Il difficult for TO be present at the time
mentioned. and think I can render all the as
sstance which is in my power 10 the committee
by transmitting to Eou, in this letter state
meut of the facts known TO this department.
The letter states the facts connected with the
transaction in question as set forth IN the
Presidents message 10 Congress: says that the
writer advised the President that the transac-
ton standing alone did not constitute viola
ton Of the antitrust law. and that the Presi-
dents course in refusing to interfere was
strictly appropriate under the law"
The letter closes with d statement that the
Department Of Justice has always been ready to
prosecute the United States Steel Corporation
any other corporation or individual for any
thing which constituted a violation Of the law
understood by the department.
LIMIT on INQUIRIES.
There follows letter from the Commissioner
Of Corporations, dated January -. informing
the Attorney General that he had been sub
p9naed 10 appear before the subcommittee Of
the Committee on the judiciary Of the Senate,
and TO produce all papers relating to the Steel
Corporation and the Tennessee Coal, etc. Com
pany"; that. having appeared in obedience TO
the summons he was directed to produce all
papers IN his possession relating to either cor
poration: that he had obtained delay in order
% secure legal advice To his duty i'm the
tremses and by direction of the President he
submitted the facts to the Attorney General for
sn opinion.
The Attorney General replied the same
cate. in a long opinion. in which he holds that
Section Of the act 10 establish the Department
Of Commerce and Labor, while authorizing the
collection by inqusitorial process of information
by the Commissioner of Corporations. provides
mat only much of this information as the
president may direct shall be made public. The
Attorney General shows that this limitation on
the use OF the information collected was in
conformity with the intent OF the Fourth Amend
1aenf TO the Constitution. recognized and
commented in the debates in Congress pre-
eeoins the adoption of the law and was in ac-
cordsncs with settled departmental practice
he calls attention TO two instances in the
Fosecution Of the Beef Trust and the Tobacco
isaE In which TO the records in the
custody Of the Commissioner Of Corporations
H<o been denied TO his own representatives.
ssoies an opinion Of Caleb Gushing, when AT
@ney General, to the effect that separate reso-
'u1ons Of either house OF Congress have no legal
1ect to constrain the action Of the President or
'oe heads OF departments, and points out that
@hoer the terms of Section of the same act
'Hher house may obtain information of tins
enaracter when desired by resolution direct
ing sr investigation and report by the Secre-
eefs OF Commerce and Labor. He closes as fol-
lcws:
am. therefore. compelled to advise you that