The Dawson news. (Dawson, Ga.) 1889-current, 1909-03-03
HEAVIEST REBUKE YET
President Roosevelt Gets 1t About
That SteeI-COaI Merger.
He ACTED WITHOUT AUTHORITY

investigating NOHlnlltce says He
Was Also Equally Unauthorized to
Instruct the Attorney-GeneraI Not
to Enforce the Federal Statutes
Against the Combine. Sarcasm for
Prick and Gary.
WASHINGTON.-By a vote of
three to two the subcommittee of
the committee on judiciary, which
has been investigating the merger of
the Tennessee Coal and Iron Com
pany and the United States Steel
Corporation, today decided to report
to the full committee that the presi-
dent was not authorized to permit
| the absorption.
The committee found also that
President Roosevelt was equally unz
authorized to direct the attorney
general not to interfere with the
merget and not to enforce the federal
statutes against it, 1t was decided
also that as both companies are en-
gagged in interstate commerce the alb
sOrption was in violation of the Sher-
man antitrust law.
CONSERVATION in the Senate.
1t was found that the effect and
purpose of the absorption was to mo-
nopolize the iron ore supply of the
country and generally to eliminate
|
petitor of the United States Steel
! Corporation. The fact that such a
report was to be made created con-
sternatiOn in the senate. 1t was re-
allied that if the full committee sub
scribes to the findings of the sub
committee the effect would be to ad-
minister the severest of rebukes to
President Roosevelt and practically
to direct the attorney general to
bring proceedings against the steel
corporations under the Sherman law.
Denies RoOsevelt's Assertion.
1t is likely that action cannot be
had at this session. The report act
ed upon was drafted by Senator Gull
| bersOn, author of the resolution pro-
viding for the inquiry.
The report quotes from the presi-
dents message declaring that the alb
sOrptiOn was necessary, according to
the representations to him by Judge
e. H. Gary and H. G.. Frick on be-
half of the steel corporation, as
certain business firm of real import
ance in New York circles would I'M
doubtedly fail unless the deal could
be made. After giving much of the
testimony on this point the report
specifically denies the assertion of
! the president that the merger was
banking concern or business house
in New York.
Sarcasm for Prick and Gary.
Sarcastic reference was made by
the committee report to the state
ment of Judge Gary and Mr.. Frick
in their interview with the president,
that they did not want to buy the
! Tennessee concern and but little ben
eft would come to the steel cOrpor-
alton from the purchase. From the
testimony it is asserted that the Ten
nessee property is very valuable,
worth probably several hundred
million dollars, and would give the
steel corporation ultimate control of
the iron ore supply of the country
and a practical monopoly of the iron
and steel trade of the south.
1t is asserted by the committee
that whatever may be the supposed
emergency no discretion is lodged in
the president as to the enforcement
| of the law. 1t was found, in the
opinion of a majority of the sub-com-
mittee, that the presidents cOmmu-
nication to Acknowledgement Bona
parte was in effect a direction not
to interfere with the merger. 1t was
pointed out that under the federal
institution the president is the one
official who is expressly enjoined to
take care that the laws be faith
fully executed"