The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1910-01-26
Trust Busting Campaign is Not to be
Sensational But Just az Men.
toned In Special
Message.
MARKET TOOK A SLUMP
TAFT Does Not Want Panic in 5usi-
ness World, but Wants Trust
to Have Little
Care.

WASHINGTON Jan. 26.--When the
cabinet was in session at the White
House, news was brought to the
cabinet room of the. slump in stocks
on the Now York stock market, attri- |
buted to the publication of state
ments that President Taft and the
federal administration were about to
engage in general trust-busting cam
paign AS a result of a discussion OF
the matter between the president and
his official advisors the following
statement was given to the press at
the White House soon after the cab
met adjourned:
No statement has issued either from
the attorney generals office or from
the White House indicating that the
purpose OF the administration with re-
ference to prosecutions under the anti
trust law other than as set forth In
the message of the president of Jan.
z. 1910.
Sensational statements, as If tnele
were to be new departure and an in
discriminate prosecution of Important
industries, have no foundation. Inc
purpose OF the administration is exact
ly as already stated in the presidents
message.
The message to which the president
refers was his special communication
to Congress recommending amend
ments to the interstate commerce law
and the enactment of law providing
for the issue of certificates of incor-
poration by the Federal Government
to corporations engaged in interstate
commerce. In that message Presl-
dent Taft said that it was his duty
and purpose to have the Department
Of Justice investigate, through the
grand jury or otherwise, to ascertain
whether there was ground to suspect
that industrial corporations We're yio-
Iatiug the antitrust law. He sug-
sested that sufficient funds be furnish
ed to carry on the Investigations, and
referred to the task as a heavy one.
The president indicated that he reali-
zed the danger to business that might
come from such course, and put Tor
ward the idea that business danger
might be ayerted through offering to
combinations means of changing
their character so as to bring them
directly under federal control and sup
erviston.
According to meL close to the ad
minist~ation yesterdays slump IN ths
stock market might have been avoideo
had attention been paid to what the
president said in his special message
Since the message was delivered =
Congress Il lot of gossip has come y
Washington from other places tina
Mr. Taft's policy toward the trust
was going to be exceedingly mild, am
there is soms reason to believe tina
talk of this character following tn
plain statements of the president
his special message reached the WHIT
House and served to annoy Mr. TAI
who construed them as reflection 0
his good faith and expressed honest
Of purpose. People who approache
those high in the administration it
the purpose of ascertaining whethe
these reports we're true were reminde
vigorously of what the president ma
said in his special message and Il
formed that he intended to adhei
to the course outlined in that doc'
ment. 1t was what was said to thes
inquiriers that formed the basis
the statements published IN u
newspapers which were alleged TO
responsible for the slump in wa
street.