Daily press. [volume] (Newport News, Va.) 1896-current, 1909-02-21
CONSERVATION AMONG LEADERS
Chief Executive Not Authorized 20
Permit Absorption and Erred in
Directing Attorney General to Keep
Hands Off Approved viii Con
stitute Severe Rebuke.


WASHINGTON, ID. g. fth. u.
HN vote of three t. tw3 the sub
committee e he committee on ju H.
clay which has been INVESTIGATING
the merger the T.narssr" Coal
| Iron Company AID IL" Uni, States
S eel CJrp, Iali N ;ouaE "a Il tn re
Ut to lhr I'll mnt ." 'haI th"|
President was ~; authorized 20 per
init he Al or;hiul.
The G, usr tie" IoHnd ulso ,ha
rr. |;drnt II % .,n waS equally NJ
authorized To direct the attorney
general no, t. interfere with the me-
ger. and not &c enforce he Federal
statutes again:t II.
It was decided also that as DO h
companies were engaged In inteTstate
commerce. the absorption was In VIC
| la.icn CT he Sherman antitrust law.
II M9s found that the cffec, and prr'
/ pose OF the absorption were to nonop-
Ollie the iron ore supply OF the
country and generally 10 eliminate
The Tennessee company as compci-
| lC- CT he United Stats Stecl Ccr-
pofa,ion. IL.
| constcrnstt 10 Ssnste.
| The fact that such r. port was %
~ T.i&dc c:tateh corfis:naU- II in tie
! Senate. /, was rcaiized tina. II the
; fuIi committee sunsCribcs 10 the finH-
| ings OF the sub-CC mmi'tCe. the efec.
, will he to administer the srVerest OF
| rcbnkes TO the PrcsiAen:. and prarl-
| cai!v to direct The attorney general
! to lring proceedings against the steel
| corporation under the Sherman law
| Leaders in the Senate make no sec
ret Of the fact That they are unw!!-
ling to 60 that far.
| Under these circumstances the full
| committee when II meets on Monday.
will c-nsidcr very carefully the effect
ct the repor before deciding 10 adopt
, f.. /, is ~ that action cannot
be h?d at iH!s session.
| TIL. :r,. RI acted upon was drafted
Ly Senator CulDerson. author Of the
:c:c!u,:0n providing for The inquiry.
Srb. Committee Of Five.
I'll" INQUIRY was conducted By a
| suE-con' nit'"c of five. Messrs. Clark.
Of Wyoming: Dillingham;, kittredge.
: Cuir,'rsun q nd Overman
| The frs three of these are Repu5'
iHcaus and the last two Dem cCra's.
; Senator Kit;r.dge joined with the
1.-Two democrats in making the MAORI
y report.
! The :cror' quotes fr IN The Presi-
d.rIs rHnssGg. declaring that the all
| sorpi!nn Was necessary. according 20
| the reports made TO- him by Judge
Gary ard Mr.. Frick and that the
| Tcnaessec Coal Il i'm C1Hpany un-
| doubtcdlv would fail il the deal could
not be made.
! Arer giving much of tn" te:,im n!
| II his pcini il respectfully d"Iir,
the assertion of The President that
the merger was necessary TO sivr
a?v important banking concerns Or
! business house in New YcrK.
Sarcastic references were made b.
the ,-mm!!rce rG;Ort to the state
ment of Judge Gary and Mr.. Eric
in their in'eryi'w with tn" Pr sid"h'
tat hey did not want 20 5uv tn"
Tennessee concern. ard that iiI':"
benefit w"ulI com" t til" s'.ri CIR
| roraiio2 from hc purchase.
Property very Desirable
| From the iCsiim"Ry i, = asSc'ied
tina. the Tennessee proper il very
J, valuable. worth several hundred ma
lion l. ilarS, and would give III st"'i
corporation CONT ! % the non I'D"
su. .ply Of IN" country a..d a practical
monopoly cf tho iron AID s;"'l trad:
OF INC s nth.
T. is asserted ly IN" Cnmmi q
that .ha:CvcE may -" tn s1nyo'' :
c,n.iG, ~. 10 disCretioa i az In
l'Sc Pre- ."n. "a the "a CrcrM"n'
Of the Ia . was found IN IN"
opinion ~ a MA joriiy 81 ih" suo-t ~
lmi,icc that IN" President CommuE'-
cal n 10 Attorney General lioHapar
vas in effect direct. no tn IN .
fore with TIC merger 4 was Po'nt,
o. out that under he Fedora! Coasii'
I.riion tho Prcsidcn' is n" SAtrcr who
Is cxercs ssh cn!cin"i % So" that tn''