The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1911-01-16
INDUSTRIAL KING
ONCE FARM BOY
Judge Z. H. Gary, Head Of the Steel
Trust, Sounds Keynote Of Cor
porate Publicity.

NEW 1Ohh, Jan. lJ.-from Iaim-
ers boy al so cents per day TO chair.
man or the Billion Dollar Steel Trust
at 100000 per year. with an estt
mated fortune OF $25.O00.0O0, Is TAR
cry. yet that represents the activities
OF Judge Ebert III. Gary, dominant
/ factor In the steel industry today and
representative OF the all-powerful Nor
gan interests. says the World. No
chapter of the romance OF hard-head-
ed American success is more illus
tratiye of the opportunities in the re-
public than the rise OF Gary TO the
headship OF the greatest industrial
trust OF them all.
Back OF the deposition OF William
Ellis Corey as president OF the United
| States Steel Corporation. lies story
OF a battle between financial giants
without parallel in the chronicle OF
American monopolies.
The fight has been Morgan and
Gary against Rockefeller and Car
negie, and the Morgan interests have
/ triumphed, won out in struggle
where no quarter was asked or given
and where the ultimate results have
significance of worldwide interest
both 10 capital and labor.
Corey, the Final Sacrifice.
The flna, chapter of the elimination
OF Rockefeller and the Standard Oil
interests and Andrew Carnegie, the
ironmaster and philanthropist, from
further influence in United States
Steel was written in the announce
ment by Gary that Corey was to go.
Corey is the final victim laid upon the
sacrificial altar OF Steel to indicate
the passing of the old regime and tn
apparently .impregnable placing OF the
new.
| Vast significance lies In the grip
| ping of Steel Trust dominance by the
whilom Illinois farmers boy, In that
a policy slowly forming and now
chystallized In Gray's headship. In the
opinion of financial experts, will here
after have a profound effect upon IN
dustrial monopoly in the United
States at least.
| Within the week Judge Gary an
nounced to representative OF the
World that conservatism, more keenly
defined Capitalization. and full and
free publicity will be cardinal policies
OF United States Steel With the pub
licity that protects the small Investor
| from the ''inside" manipulation OF mil.
! iionnires, Wall-st. believes that the
policy declared to be that or United
| States Steel will sound the death
| knell of corporations that try to cover
ND their deals In a policy Of silence.
Absolute fairness in publicity is
now necessary on the part OF all cor
porations," said Judge Gary, I'm order
| to secure the confidence Of the public
The success of the United States Steet
CORPORATION depends upon its willing
| ness 10 take the shareholders and the
public into it's confidence and that
full and periodical statements OF earn
ings. orders on hand, complete and
| thorough balance sheets and full an.
nual reports giving all details ana &c
veIopments are necessary to accom-
plish this desired end.
Declares For Corporate Honesty.
"The day of secret agreements is
mast" continued Judge Gary. "lnsid-
ers have TO right to advance infor-
nation regarding corporate move
ments. know that some capitalists
| oppose this belief, but am profound
| ly certain that honesty 10 not only the
best policy in corporate matters but
| that Il il the only policy both from
ethical and economic viewpoints
THE thousands Of small investors In
United States Steel have the right
with the public to know what Is hap
penins higher up, and they shall know
as long as have any influence In TINS
corporation"
And Judge Gary is more than con
| seryative in business. He has de-
clared himself to be IA conservative
optimist." looking on the best side OF
| things but not closing his eyes TO ac-
tual conditions.
81 believe that we have hopeful
future I'm this country he said re.
Gently. "I know that we have had
one of our best years In the making
| of ingots and rails. The past quarter
will show a business OF $30.oOo,oVV,
which. while not one Of our best quar-
| tiers by any means, indicates that pus-
mess In stable and progressing.
81 wish now to take issue with
those men who express their BELIEF
that 1911 is to be bad" year. do
not believe II. Conditions to my
mind seem sound, and | can see no
cause for alarm. This country Is 100
full of latent resources to ever stag
ger along under industrial depres-
sion"
These views are given to show what
manner OF man represents the vast
Morgan interests in the multifarious
steel making business.