New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-03
In r.nlv Mr. Gary undertook an explana.


In reply Mr.. Gary undertook an eAp'a"
ton Of why steel rails could be ss'd a"' a..
cheaper than at home. He said .""'
the merchant who clears MS sheNe 49,.
year by selling his goods at COST
steel manufacturer could sell MS SUI ~
abroad AT sos. or at cost The result ""'
the mills were kept running, reduc'hs ."'
cost of production. keeping together con
pact orsanization and bringing 10 '.''
country large sums OF money lug
mate effect, he added. was 10 reuu'o
price to the domestic consumer a" ''u"
tries practise dumping" Mr. Gary "
clared.
How long has IL been since any country
.dumned rails onto us?" inquired Chairman
Stanley. .,.
In about 1904 or 1895 or 1906" came 'ne
reply. slowly. II asst year some iai'
dumped on the Pacific Coast
Can't Maintain Present Prices.
Representative I.!ttleton. taking up INC
examination OF the witness inquired II IL
was not true that the steel manufactures
were trying 10 steer nice course pc'"e'"
the Sherman antitrust law on the one hano
and the obstacles of competition on inc
other.
eft is, repIIed Mr.. Gary. II wish we
knew how we could rightfully and law
fully do IT.
Then you think, in the light OF the eH-
perience OF the last ten years. that present
prices cannot be maintained for announcer
long period and still avoid the sharp COR
ners of the Sherman law" Mr.. ldttleton
asked.
Il do not think It can be done" said MI
Gary There is such a diversity OF IN
terests in the steel business that 1t seems
10 me that there must be some way devised
TO allow the manufacturers to protect
themselves from obstructive competition
that will drive manufacturers out OF ousi-
ness. or else we will be in chaos"
Then" Mr.. Ltteton continued. do you
believe that there is not any competition
that can continue freely and the steel busi-
ness develop and result in benefit to the
Consumers
Il don't think 1t can, except under gov
eminent control" said Mr.. Gary.
You think then, the time has come when
We must surrender the competitive method
In business for acceptance OF new policy
In big business affairs?'
1T seems to me II has
Government Ownership Unnecessary
Mr. Stanley asked .dr. Gary II under
government control business interests
could stop short Of absolute government
ownership
Il think 1t can be done" Mr. Gary an
swered. The banks and railroads have
done it to certain extent The banks
have only gone to the extent of absolute
publicity, and that demonstrates the legal
right OF the government 70 control business
corporations"
Mr. Littleton asked the witness IL the
United States Steel Corporation could ef-
feet n dissolution Of It's subsidiary COM
panies and absorb them into one great OPP
ting company under one head.
Eyes, We could, and readily would II by
law or suggestion from official sources we
could see the way clear
Answering questions by Representative
McGillicuddy, OF Maine, OH the subject OF
controlling prices Mr.. Gary detailed mel
DDS by which the cost Of production in all
the mills is made uniformly low.
by thus continually reducing the cost
of production" suggested Mr.. McGilli-
cuddy. "it serves as an advantage for sub
sidiary companies TO be in the corporation
rather than independent does 1t not?'
"Oh, yes" said Mr.. Gary.