The Ely miner., 1911-09-22
GOOD TRUST
Corporation in Much Better
Light Than Expected

investigating COmm1ttec OF the
house should show that the Steel
Corporation is entitled to be
designated by that vague but
significant title, a good trust, "
but it is very doubtful indeed
whether such a result will follow,
so far as the report of the committee
itself is concerned. Probably no
one can study the voluminous
testimony thus far recorded without
putting the Corporation in much
better light than was expected.
Obviously that was not the object
of the investigation being under
taken and. therefore, while it may
be reasonable to desire that the in
vestigation should show the Cor
poration as good trust" it is
not reasonable to expect that it will
thus be designated by the COM
mittee, or at least its majority,
when it has concluded its labors.
The inquiry naturally divided
itself under two heads, the Ten
nessee company absorption in
November, 1907, and the Steel
Corporation as a whole. As to
the Tennessee absorption, nothing
new of importance was brought
out. The very critical financial
situation which existed was shown,
and the expediency of the transac-
ton was emphasized. Expedience
and legality and different things,
however. and if the transaction was
illegal, it matters not how expedient
it was. The Stanley committee,
by taking up only the question of
expediency, has "queered itself, ;"
if the use of this snggetive ex-
preston may be permitted.
The Corporations conduct of
its business. as disclosed through
out the investigation, has been that
of good trust" including the
abrogation, on its initiative, of the
old price agreements, its tolerance
of competition and its policy of the
utmost publicity. The rates of the
Minnesota ore roads have been
particularly under fire, but the
circumstances are that the Cor
poration simply preserved rates
which is found. One of the three
roads is owned by an entirely
distinct interest, and although the
way has been open there has been
no complaint by outsiders as to the
rates, except in one fugitive case,
not identified, but stated to be
pending before the Interstate Com
merce Commission. It is for the
Stanley committee to digest these
facts. Its line of questioning has
not indicated that it has succeeded,
Chairman SANKEY'S most distinct
pronouncement at the hearings
being that the case seems peculiar
he does not understand it, and he
is going to call more witnesses if he
can find them.
The investigation is not over,
an adjournment having been taken
to Oct. 10, and meanwhile the
committee is searching for more
data and more witnesses. A study
of the hearings already held cover
ing "a days and occupying over
1 800 pages of output of the
government printing Office, is, how
lever, sufficient to suggest very
strongly that the case has been
made quite clear as to the facts and
the real issue is what is to be done
about it. It seems obvious that a
good trust'' has been shown.
whether good trust" is per-
missible or not under our laws cam
mot be shown by congressional in
vestigations, should the whole
congress divide itself into COM
mittees and work overtime, which
lis unthinkable. Chairman Gary
himself not simply admitted. but
emphasized, his preference for
government control or regulation
to the present state of uncertainty.
Constructive legislation is desirable,
bnt it does not appear that furthei
Investigations are likely to helI
that end, at least so far as the
committee is concerned.
Good Entertainment
The Dixie Jubilee Singers at the