Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-10-27

of the corporation they came at any
time, from any distance, ready, willing
and anxious to turn over to him and 10
his friends all that was in their minds
and in their pockets concerning their
own business.
"When they met. the chief executive
of the corporation admonished them that
no one of them should forget the high
moral obligation he was under toward his
ncighbor and that it was of the highest
Importance at that particular time that
every one of them should have a keen
and ahiding sense of the personal ohllga-
tion which he had toward all the others,
and to make no mistake of running the
risk of trespassine within the domain oil
the rights of his ueghbor who had given
his confidence and trust and who was
willing at all times to put within the
knowledge and therefore more or less
under the charge and control of the oth-
ers. the very direction of his affairs
by these meetings and interchange of
information and understanding each Ie-
come in honor bound not to get the trade
Of the other, and each by the concerted
action acquired participation in the dl-
reetion of the affairs of the other.
THE main purpose of the meeting
of January II. 1911. was the question
of maintaining OF changing the prices
OF the commodities in which they
dealt. A majority came to L eensen-
sas which was accepted and followed
by all
AT these meetings they not only
Exchanged information but advocated
control of prices and reached COM
mon understanding which vas follow
ed. under solemn admonition that they
were bound bE an obligation more es-
tmatle than life.
These meetings brought about the
maintenance OF prices.
It WIS understood by them that they
were travelling together and that they
we're going to stand together.
They understood and acted upon
The understanding that a statement
rs to what one would do as to prices
80 output was Z promise and a Rled5e
upon honor to the others.
At the meeting of January II. 1911,
md az the other meetings there was
4 general expression of opinion that
prices should be maintained and in
pursuance of this understanding and
agreement they were maintained.
when an understanding was reach
Cd individual transactions we're made
of intention t. follow the movement.
1T was Recognized that they follow
cd the policy laid out fer them by the
head of the corporation.
This meeting OF January II, 1911,
was attended by about so representa-
ives of iron and steel concerns, heing
large majority in number ana out
put of such concerns in the United
states The understood that the puf-
pose was to consider the prices of iron
and steel. that the consensus of opin-
ion was tina the prices should not be
lowered. hui that they should be main
tanned and that by virtue of what &C
Cured they we're in honor bound Ia
each other 10 maintain them, IN fact
they. in pursuance of this action, did
maintain them.
Attached to the bill among other ex=
aibitc of alleged agreements Is a
statement showing the extent To Nhiea
| the Steel Corporal ton is represented IL
! the directories of other concerns. Ii
| shows George f. Baker as director
| n So others Edmund c. Converse II
| e: William +. Corey in %; j Pierpont
| Morgan in 81.
| OF this the government petition
| avs
Under the policy of the eorpora-
! ton there grew up community OF
| interest and power to influence ae-
! tiGn to a common purpose, never eX-
ceeded in the commercial history OF
| the world There came into existence
| Il system of inter-lacing of director
| ates which embraced almost the entire
| commercial and financial powers OF
| the country.
| 1T has been constantly growing
| system since the creating of the cor
3oratian and therefore the personnel
and alliances vary for the several
ears since 1901, but the system and
the power achieved by it have been
practically the same from 1901 down
ia tine present time.
"All the business of the corporation and
It's controlled companies is conducted
without competition among them and as
q part of general plan and combina
ton by which they have partially DC
atroyed competition in trade and com
nations and have by the strength aequir-
ed great and unwholesome influenced
over competitors whereby they are
brought into harmonious action with the
corporation in restriction Of competition
and in restraining such trade and com
MERGE"
| In addition to the defendants already
named. the following are parties to thf
suit:
Union Steel Co, Clarion Steel Co.
| West Missabe Land Co. Limited Virgin
Land Co, Limited, Davis Land Co, Lin
tied, Wells Land Co Limited. Ston'
Land Co, Limited, Wabigon Iron Co.
Minosin Iron Co, Nibiwa Iron Co. We
mona Iron Co, Minawa Iron Co, Leon
ard Iron Mining Co, Arthur Iron Minns
Co, Fillmore Iron Mining Co, Harrison
Iron Mining Co, Jackson Iron Minnl
Co, Polk Iron Mining Co, Yuler Irot
Mining Co. Van Buren, Iron Mining Co
VAsSALBo9o GRANGE
Holds First Agricultural Fair Wednos
day, and Scores Great Success.