The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-04-25
TROUBLES oF STEEL TRusr.

TROUBLES OF STEEL TRUST.
ing decidedly interesting. on one side
is the United States Steel corporation,
and on the other Carnegie and Schwab.
The steel trust magnates claim that
free ore would spell ruin for the indie
pendents. while Schwab. as president
OF the Bethlehem Steel works, one of
the largest of the independent concerns.
insists that it would prove their saliva
ton. The duty under the Dingley bill
is 40 cents on iron ore. The Payne
bill as passed by the house, put it on
the free list. The Aldrich measure calls.
for a duty Of % cents. If the senate
idea should finally prevail, ) cents more
would have to come of on account
of the reciprocity treaty with cuba,
which provides for a 20 per cent conces-
sion. As Schwab gets most of his ore
in Cuba. he would benefit to the extent
of a 50 per cent reduction from the
Dingley rate.
Another interesting phase of the sit
uation is the fact that Andrew Car
negie is backing Schwab. and is cred
tied with having invested s1O,0O0,OOO in
the Bethlehem enterprise. Carnegie
knows all about the steel and iron
business, and also has well defined ideas
regarding the tariff. He cannot be
cried down by Gary and Frick, because
he can meet every assertion and claim
with the exact facts in each case.
Still another source of sorrow for the
United States Steel crowd is the atti-
tude Of Speaker Cannon. The redoubt-
able Danville man was one of the
stand-pat candidates before the Chi
cago convention, and when the road
roller went over him it carried add
tional weight, owing TO the fact that
the delegates controlled by the steel
trust were perched thereon. Gary and
Frick delivered the goods which were
probably promised when the taking
over Of the Tennessee Coal & Iron COM
pany was sanctioned by President
Roosevelt in direct violation of the law
Speaker Cannon is under no obligations
to the steel trust and, it is said, does
not feel inclined to rush into the breach
TO save it from being pried loose from
the special privileges upon which it
thrives
There will be a debate in the house
on the merger in the course of a few
days If it can be brought about by the
minority A resolution has been intro
duced by Champ Clark, which reads as
follows:
Resolved, That the attorney general of
the United States be, and he Is hereby re-
quested, If not Incompatible with the pub
lie interest, to inform the house what
steps, IL any, have been taken by him,
or any official OF the department of jus
tice under his direction. to annul the con-
tract of purchase or acquisition of control
of the Tennessee Coal & Iron company
by the United States Steel Corporation.
It will be remembered that the senate
made a similar inquiry in the closing
days Of the last administration. and
that Attorney General Bonaparte re-
fused 10 answer under instructions Of
President Roosevelt. The senate judi
ciary committee however. declared
that the merger was unlawful. and that
the corporation should be prosecuted.
The Clark resolution lies upon the table
at present. 1t cannot be referred 10
committee, because outside Of the ways
and means. accounts and mileage and
rules. no committees have been ap-
pointed. After seven days from the
time of its introduction Mr. Clark viii
have the right 10 call his resolution I'D
and, II he cannot get unanimous consent
TO consider, he may move its adoption.
As stated. Speaker Cannon is not par
ticularly fond Of the trust at this time.
and may decline 20 protect il.
If the resolution were to be passed il
would have the effect of smoking OUT
President Taft on the subject OF the
merger, and that fact may prevent its
passage. But a man who is credited
with combining all the necessary quail
fioations of craftsmanship with a full
and complete knowledge Of the law, and
who is said TO be absolutely fearless in
his desire to better existing conditions.
should not be allowed 10 dodge the most
important and fsr-reaching trust ques-
tfcn Of the day