Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1911-06-09
MORE history Of
THE STEEL TRUST
JUDGE GARY SPENDS HIS FOURTH
DAY AS WITNESS.
CONTRADICTS MR.. Gates
Says Morgan Was Not Easily Influcn-
ccd-IIas Never Heard of Inter-
national Price Agreement.

ItdNllteh 10 rev Ntdi lhll what NbIlDhl
ics we're competitive when the United
States steel corporation was perfect
ed in 1910, when a dozen steel plants
were put under a general directing
head, Judge Il. II. Gary, chief eXecu-
tive of the so-called steel trust, re-
sumed the stand before the house steel
investigating committee today. II was
Judge Gary's fourth day as a witness.
When the committee adjourned late
yesterday Mr.. Gary had partially fin
ished a story Of the birth Of the U, S.
Steel corporation, that differs widely
from the version Of John w. Gates,
who testified last week
Mr.. Gates said that the corporation
was formed by the Morgan group OF
financiers who were afraid that An
drew Carnegie would go into the tube
manufacturing business. Judge Gary
said he had never heard Of such a
thing. Tho U. S, Steel corporation, he
declared was first suggested by Henry
C. Frick in 1900.
]. Plerpont Morgan, said Judge
Gary. did not consider the proposition
seriously when it was first broached
70 him. Neither did he the second
time. Later conferences were held by
Frick. Gary. Morgan. Bacon and the
steel leaders in the federal steel COM
panv and ]. Plerpont Morgan finally
agreed that he would be financial
sponsor for the deal whereby the Car
negle companies were to be taken over
Mr.. Gary admitted that the promot-
ers discussed the possibility at that
time Of later taking in other concerns.
1--WE wanted an organization, he
said. that could he operated at low
cost which would have sufficient
number Of finishing mills and suffic-
lent capital to enable us to compete
with other manufacturers throughout
the world.
Judge Gary, there have been in
situations" said Representative
Young that there is sort of In
rernatlonal agreement, all understand
Ing that trade VIII be divided up as TO
territory between steel manufacturers
In this and foreign countries Is TINS
true|'
i nave never heard OF II ana !
would not give my consent 10 H. salu
Gary Woulu not couh'eII'ilee sue"
thing' ! Wou'd nke' however 10
prlhE ABOUT 'ne "'Bai."o''o" " d" ~
terhatohai eNchanse lor '"e 'ueaS VI
"Pi",""S 'oi ,"o 'VS' ,"''' ''' VI o.
nu' never '"o"s,'' W s'','s "e, V''J :
'"e 'u'eS Vi p'oP'ie'S anu ~" '''"
WIN never sNo "lS 'o"Se., ""
'el. .'''.o"e w ,'p's, '','' s...'sa..,,,,.,,
- q, ,.i,,,
,,1..ta a,,.,,,. a., e,,,,,.,,,,r -
.n.I .,,,a. ,a,,. =, 49,. nronort, T.,
,anas,a ~ aod ,ho naao,o,s Wallace oI,,,o
,,,ao ',.s., -, rn5aa Gov, tIo sotd
ho hono1 ,,,o ooro,,,ttoo IN ite renort
n,n ,,,,a,,,tna,ia, ,ronid g,ro tbo
,rnt,od e,o,os ctooI Cornorotior what
,i,o oo,,,,,,,,,ao ,bt,,,,s o,t 20 ho tbo
cor,orotIor,s standing urder tho law
"I wish thIs committee will tolte od-
,.oo,o,,a 90 ,,s ou,ort,,,t,,, 20 s,,,,ost
,a,i.Iatiou erd noo ,,s t,,,,oroo 70
hnI,,,, oha,,, ,l,o a,o.o,,,,o,,t 80 ,ro,,or
ta,,,,1.,,a,, .,ta,,,o.a,, 80 ,,rooo,t,, no
e,',,''i
oo' '',e =, 'p.''y NV, 80 ~ Wv 0O''',
US, the inter ies's ol the government
anu the people Ut iarBe' 81 as 10 Noh.
uhue pusihe's progress along hhes OF
prosperity
would you DelleVe sensible
asked Representative Littleton TO
have Congress appoint joint COM
mttee to hear representatives Of cap
ital and H. Dor and Of so-called re-
straint and nnrestrained trade with q
view of preparing an antitrust law
which would correct misuse OF the
sherman law or errors that might
como tbrorsb court decisions on tbot
La, ga stror y,har ord oIohorota
tho, Ia,,o"
-, s.s ,,, oo,
- 49, aa,'
""' "Vu'u W e.Nu " -.
en Undertaking iesu'. AZ 'o''e'"i'e
pra0ti'u' a''' W oe 'le iiis' one "
IAN INTO hh' uhu liVe up " such d
law
The so-called cary dinners where
steel men acquaint each other win