New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-05
GARY URCEDcO OPERATION
Makes Public Speech at Steel
Manufacturers Conference.
WANTED TO FIGHT REPUBLIC
Accrued That Others Should Stand
Together in Open and
Frank Relations.

u Cary. chairman Of the board o.
,se-.c,or. Of the United States Steel Cor
.s,,on. who testified before the Stan
-. Committee in Washington on Thurs
,.,v and Friday, made public yesterday
-. snAech OF last Monday at the confer
~ steel manufacturers that decided
. make q general cut in steel prices ir
srsr 10 the cut in bar steel OF the
psrubuc Iron and Steel Company. the
,,rsest competitor OF Judge Gary's COM
INV Parts Of the speech are illumi-
ra.,rg 10 parts Of the testimony. espe-
.,ouv that part in which Judge Gary
,o,d how prices were fixed.
when Judge Gary was asked in Wash
..-,on II the Steel Corporation was In a
,osi,,on 10 fix prices he said the CO.
a,s-etive business methods which had
,rcceeded highly competitive methods
r.d made it possible for the big corpora
,ior 10 influence prices.
We cannot dominate them he said
-, Is not the big corporations that
change prices so much as the small cor
rorations that cut prices and force the
h,e ones TO come down"
re discussed also the famous Cary
dinners" the medium through which the
steel Corporation influences prices. He
said
The question was how 10 get between me
.,o extrer1es-one Of securing a monopoly
- arriving out competition in e bitter hgnt
.-s me other OF maintaining prices without
raking an agreement express or lmpned:
q invited large percentage OF the steei
,,tsrssts Of the country 10 meet me az ain
ar ard presented 70 them these views.
suggested that the only way we coulQ
,sufriy prevent such dsnnOra lzatlon anu
-.,rtsir reasonable sfeadiness in business
yes for the steel men 10 come together
o~-ssjonaliy and disclose 70 one another all
ne circumstances Of their business. such
ir,srchanse was done, and continued. ana
prevented denora lizauOn. We haven't done
more than that because We could not DO
more.
In his speech at the price conference
last Monday he made the following ref
erence 10 the Republic Iron and Steel
COMPANY
Vow We are confronted with very seri-
aus and q lisa EreearIe prOr en-. ~ Is not Tor
No 10 criti-ise men nor 20 pass Judgment on
me motives Of men. Whether people VINO
nave changed their minds suddenly are
sefuated ly motives n cupdity or MOVIES
If recessity Is nor fOr me u say. one thing
ue krou-fhat one Of the Leading iron and
steel companies hitherto Joining in our coun-
.iIe learning from us our intentions, orr
business. our methoos. our clients our Gus
toners. e7 verifying OF benefit and interest
Tor one 70 know concerning his neghDur -
has suddenly. for reasons considered good
by those On charge. given notice that for
fne ssert AZ least u is not desirable 20
cooperate with US.
Il 7 believed the reason was that the Off
ia RS ~ that company had reached the con-
cluson that they had no right from the
standpoint q law or good morals. 10 con
tinuA 7 would be the asst one 10 criticse. /
wou.d not expect or ask any one 70 do
ANYTHING he believed wrong. legally or NOR
ally bur. on the other hand. gentlemen. II
an one who has been cooperating IN a
lawful way. not In secret but under condi-
lions vel known and frequently exposed by
al ~ re. suddenly changes his opinion and
believes n is for his pecuniary interest Cor
the time being 70 withdraw from assOclat-
M with rs and declines TO give rs any
Information concerning what he Is doing or
proposes 20 do. leaving himself free 10 20
~ your customers and mine and get the
business for himself regardless Of price.
and SIMPLY for the purpose Of filing his
MIL temporarily end securing for himself
Q customer who has been your cOstumer or
mira then do not hesitate 20 say that, so
'ls 70 let him stand outside u the circle
~ Intercourse and friendly conversation
and open and above board fair dealing and
Tankness IN expression.
Immediately after this he took up the
question ~ prices. saving
Whatever We do with reference TO prices.
Whatever We may decide is necessary in
order 20 protect our interests on this oCca-
s'or and under these circumstances I'm my
opinion - rs highly important for the long
tifHre r0af We continue our relations or
friendship and open and frank expression
With reference 20 what We are doing
would not under any circumstances
make any agreement. express or implied.
o'rec' on Indirect. 20 maintain certain
prices m keep away from customers, 10
''flle territory, 10 restrict output or 70
make a0v agreement Of any sort or descrip-
non WITH YOU or any = YOU. because. as I
understand the iav. ! have no right TO 90
D. yer 1f The same time 7 would do what
have always said 7 would 90. T would tell
you and each 4 YOU 81 any time exactly
Nnaf Ne were doing. 7 would give YOU the
Isfna NJ our customers would tell YOU
Nna' prices w0 were charging. I would give
YOU any information concerning our bust
ness concerning ov~ mills. concerning our
clients concerning ourselves. that you
enieo IN have so long as YOU have the
.'m' disposition toward me-
little further along he said
ON -re otrer hand. n II is your opinion
mat tre time fo~ operation mas gone br.