The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-27
M of Financial
Panic Is Club to
Be Used.
WILL MAKE EFFORT
10 CONVINCE TAFT
Big Business" Holds He Can
not Be Reelected Unless Pros
ecutions Are Dropped-Bene-
hciaries of Tariff Endeavor
to Head OFF Legislation
at Coming Session.

Washington. September 26.-Informl-
ton reaching Official sources in WASH
ington has raised the question wheth-
or the great trusts nave set on foot a
campaign designed to discourage the
national administration from proceed
ing with its program OF prosecution OF
the trusts.
1t is asserted in Governmental circles
that the Department OF Justice. with
the knowledge and consens of rresi-
dent Taft, had planned u vigorous
plan OF trust busting" 1t not only
contemplated prosecution of several
corporations. but included efforts to
send some high trust associates TO
Jail.
The great trusts have a way Of and-
ing out what is going on at the Ma
tional capital, and 1t was after the
steel trust and this harvester trust
learned of the program decided on by
the administration that proposals wore
made By these trusts SO to ~reorganize
as TO satisfy the administration as
well as comply with the terms Of tho
Sherman antitrust law.
Putting on Pressure.
In the meantime suspicion has been
aroused that the great trusts have
set on foot a campaign designed to
discourage the administration from
proceeding with it's program.
Some OF the stories that reach the
national capital relate tina the great
industrial combinations will precipi-
tate a panic rather than submit 10 the
Program the administration had plan
ned TO carry out.
1t is worthy of note thai after the
Acknowledgement had been quoted By
a New York newspaper az saying That
the United States Steel Corporation
was maintained in violation of the
Sherman antitrust law. the stocks OF
this company Immediately took q big
tumble.
Wall Street was near a panic. The
Attorney-General made haste to say
that he had not said all that he had
been quoted as saying. He back
tracked" after the New York news
papers that speak for Wal Street had
taken him sharply to task for talking
in a way that would disturb big bust
ness.
The inside talk here now is hat big
business will make a powerful effort
to convince the administration that II
must not go on with its antitrust pro-
gram at this time.
Thf argument is to be used. so 1t
IS asserted. that the country is al
ready face to face with business de-
preston. and that for the Taft admin
istration TO enter on an energetic anti
trust campaign at this time would seri-
ousiy disturb business. Moreover, such
e course on the part of the admins
tration would. according to big busi-
ness. make the denomination and re-
election of Mr.. Taft impossible.
other Trusts Guessing.
The reorganization OF the Standard
Oil Company and the American Tobac-
CO Company is expected to proceed.
The Supreme Court has said that these
reorganizations must be made, and
has in each instance hXed q time limit.
The question that is interesting many
persons in Washington is whether the
other big trusts that have been under
Investigation for years by the Federal
government will be compelled to walk
the plank"
There is evidence at hand indicating
that the chief beneiciaries of the tarif
intend TO resort to you will ruin bust
ness" talk in an endeavor to head of
tariff legislation at tho coming session
of Congress. intimations have reached
the national capital that those in
dustries that have heretofore been able
to control tariff legislation have no
thought OF permitting legislation at
the cGming session.
They still rave hope of being able
TO convince President Taft that an
attempt to revise any OF the schedules
on the eve of Il presidential campaign.
and at a time when business is gen.
orally rather unsteady. would mean in
dustrial disaster. 1t is the same old
story with respect both to the disso-
luton of the trusts and the revision
OF the tariff.
Gnry May Issue statement.
New York. September 26.-It was
stated at the Offices of the United