The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1909-03-06
R00sEvELT'S ILLEGAL ACT
RESULT OF STEEL MERGER IN.
CURRY REPORTEDs TO SENATE.

RESULT OF STEEL MERGER IN.
CURRY REPORTEDs TO SENATE.
Seven Members OF the judiciary Com.
mittee Hold That Presidents Sanc-
ton Of the Purchase Of the Tennes-
see Concern by the Trust Was IL
legal-F0raker, Nelson and Kilt
redge Side With -Four Democrats.
Washington, March 2.-Seven men,
bers of the senate committee on ju-
dietary signed the report declaring
that President Roosevelt. without au-
thority OF law. sanctioned the absorp-
ton Of the Tennessee Coal and Iron
Company by the United States Steel
Corporation. and that the merger was
in violation of the Sherman antitrust
law. Three Of the majority Of the
committee. however, attached certain
individual views. Under an agree
ment reached in the committee on
judiciary yesterday. any views sub
mitted have the standing Of individ-
ual opinions only. Chairman Clark
today reported the disagreement In
the committee and soon afterward
Senator Culberson presented the views
Of seven members Of the committee.
Those views were signed by Senators
Nelson. Kittredge and Foraker. Re-
publicans. and Cuiberson, Bacon,
Rayner and Overman. Democrats.
The additional views were given by
Senators Nelson, Bacon and Foraker.
In the opinion of Mr.. Nelson the pres
ident was not authorized to permit
the absorption, which is declared TO
have been in violation Of law. Mr..
Nelson thinks. however. that the pres
ident may have been misled or duped
by the officials of the United States
Steel Corporation. Messrs. Frick and
Gary, who urged upon him the neces-
sity of permitting thes Steel Corpora
tion to buy the Tennessee concern in
order to save business institution Of
New York city during the panicky
days OF October and November, 1907.
Mr.. Bacon expressed doubt whether
the senate should pronounce finally
| upon question whether the president
committed wrongful act for the rea-
| son that the senate Is Judge in i'm
position that the merger was illegal.
but that the senate should not take
peachment proceedings. He takes the
any action to prejudice any proceed
ings that might hereafter be brought
before 1t.
From the report signed and SUBJ
mitted today 1t appears that had 1t
| not been for the illness Of Senator
Bacon and his absence from the COM
mittee yesterday. the report declaring
the president acted without authority
OF law. would have been adopted as
the opinion of the committee. In any
event Senators Culberson and Kitt-
redge take the position that a majori-
ty Of the committee has reported that
the merger was illegal and that the
department of justice should proceed
against the United States Steel Corp
Grafton and dissolve 1t.
Senator Foraker declared that he
! did not think it necessary for the
committee to consider whether the
transaction was a violation OF the an
ti-trust law. He said that the reply
of the committee should be confined
to the one question as to whether the
president was authorized to permit
the merger. and that this should be
confined to the one question as to
whether the president was authorized
to permit the merger, and
that this should be an
swered in the negative. In view
Of the fact that representative of the
Steel Corporation called upon the
president and asked his advice con-
corning the transaction, and that the
question also was submitted to Attor-
ney General Bonaparte, Senator For
aker took the position that the Steel
Corporation should not be condemn
ed for it's action.
The disagreement on the resolution
was placed on the calendar and will
expire with the close of the present
session.