The New era-leader. (Wagner, Charles Mix County, S.D.) 1911-1912, 1911-07-07
IND|CT COMBINE
CHARGED WITH FORMING POOLS
TO RESTRAIN TRADE AND
CONTROL PRICES.
nine WIRE ASSOCIATIONS
Frank Gould and satterIee, Morsan's
Son-in-Law, Among Accused
Steel Trust Not Impii-
Gated,

New YORK, N. Y. Nine 1ndlct-
ments charging restraint of trade In
violation of the Sherman antitrust
law were returned by q federal grand
jury here against as many associa-
tions and a long list of individuals
comprising the so-called wire trust
, a filiated with the steel industry.
Prominent among the defendants are
Herbert l.. Satterlee, a son-in-law Of
J. Pierpont Morgan; William p. Pal
mer, president of the American Steel
4 Wire Company, q subsidiary of the
United States Steel corporation. and
Frank Jay Gould of New York, presi-
lent of the Old Dominion Iron & Nail
Works Company.
Only two Of the subsidiary COM
panies of the United States Steel cor
poration are mentioned, namely, the
American Steel & Wire Company and
the Trenton Iron Company. The
American Steel & Wire Company,
however, is mentioned in the indict-
ments against seven of the associa-
tons. In the indictments against the
Telephone Cable association and the
Fine Magnet Wire association, 1t is
not mentioned.
The most prominent individual
defendants and a full list of the as
sociations in which they are members
follows:
Individuals Indicted.
Frank ]. Gould, president of the
Old Dominion Iron & Nail Works,
Belle Isle, Richmond, Va.
Herbert l.. Satterlee, president Of
the Habirshaw Wire Company, Yonk-
ers, N. Y.
William p. Palmer. president of the
American Steel & Wire Company,
Waukegan, ILL.,, and Worcester, Mass.
Charles F. BROKER, vice president
Of the Ansonia Brass & Copper Com
pany, Ansonia, Conn.,, and member
from Connecticut Of the Republican
national committee.
Harry G. Stoddard, president of the
Trenton Iron Company, Trenton, N.
Erskine Hewlett, vice president Of
the Trenton Iron Company.
Frank N. Philips. president ! the
American Electrical Works, Philips
dale, r. /.
Ferdinand w. Roebling, president of
John A. Roebling's Sons Company,
Trenton and Roebling, N. j.
Philip w. II. Smith, second vice
president of the Standard Under
ground Cable Company. Pittsburg, Pa,
Oakland, CAL, and Perth Amboy, N. J.
Associations Indicted.
The Horseshoe Manufacturers AS
sociation, William p. Palmer and 9TH
ers.
Bare Wire Copper Association, Will
lam p. Palmer and others.
Weatherproof & Wire Magnet Asso-
citation, William p. Palmer and others.
Lead Encased Rubber Cable Asso-
citation, William p. Palmer and others.
Wire Rope Manufacturer Associa-
ton, Edwin, E. Jackson, Jr., and 9TH
ers.
Fine Magnet Wire Association, Fer
dinand w. Roebling and others.
Underground Power Cable Associa-
ton, Philip H. w. Smith. and others.
Telephone Cable Association, Frank
N. Phillips and others.
Rubber Covered Wire Association,
William p. Palmer and others.
1t is set forth that the various as
~sociations organized under their as
ISOLATION names and each selected a
supervisor and adopted rules and reg
rlations. An arbitrary rating was
determined, it is charged, by the ratio
OF output for an agreed time; each
member was obligated to pay $4,000
or less into a fund called 'the gen.
eral deposit and In case m member
failed to abide by the regulations his
deposit was forfeited.
Raw materials were bought at ar
bitrary and non-competitive prices to
be agreed upon by said defendants,
being prices lower than those for
which the respective corporations
would be enabled to purchase said
raw materials but for the unlawful
conspiracy herein described"
In the indictment against the Bare
Copper Wire Association. it is charged
that the corporations forming the as
ISOLATION produced 95 per e Of the
entire bare copper wire consumed in
the United States and that they had
absolute control of the price.
Upon conviction each of the defend
ants is liable to not more than a
years Imprisonment, or a fine oil $5,-
600. or both.
In the indictments neither the
American Steel & Wire Company nor
the John A. Roebling's Sons Com
pany. also known as the Trenton Iron
Works. are designated as belonging
to the United States Steel Corpora
ton.