The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-08-12
ax AssocIated press.

Washington, Aug. 11.-George w.
Perkins, the New York flnancier, sug-
gested to the house steel corporation
committee of inquiry today that a gov
ernment commission which would in
sure focusing the limehght OF pub
licity on the business affairs Of great
corporations would do much to erAdt-
cate present day trust evils and pre-
serve their virtues.
Following Mr. Perkins's suggestion,
Representative Littleton. of New York,
announced that a resolution soon
would be introduced In congress pro-
viding for a thorough investigation
of the industrial situation of the coun-
try.
Il am advised" said Mr.. Littleton,
that there is to be a thorough in
quiry into all the commercial Ills of
the nation and that conference will be
called to consider the problem of how
to deal with the Industrial situation In
America 1t ig project that will In
volve a most drastic Investigation and
bring together capital and labor IN
an effort, without bias, to find out
just what should be done"
THAT Is the best news have heard, -
said Mr.. Perkins.
LIMELIGHT IMPORTANT.
The fnancier had made his sugges-
tion in response to q question by Mr..
Bartlett. II believe the mere Ques-
ton Of limelight an important thing. :"
said Mr.. Perkins. 'The limelight
firmly think would eradicate many Of
our troubles. IL we had a law pro-
viding that a corporation engaged In
Interstate business could register itself
with a bureau here In Washington,
submit its operations. prices. its bal
ance sheets, its methods. its ez-
penses, It's labor, etc, and II the reports
were made public, thus gaining the
confidence OF the public In the securt-
ties of that corporation. the conn-
dence of the competitor that he was
being fairly treated and the confidence
OF the consumer that he was being
dealt with facility think that very
soon corporations would register them
selves until we would have that KIND
of publicity which would go long way
to eradicate the evils Of our great
corporations and preserve the gooo
that is already self-evident In these
corporations"
"Such a bureau or commission should
conduct it's affairs In the hmelight,
commented Representative Young.
and not as some Of the bureaus OF
this country are conducting behind
closed doors"
Member Of the committee and Mr.,
Perkins applauded this suggestion, the
utterance having been directed to-
ward the bureau Of corporations, which
has withheld information about the
steel trust from the committee.
do you think" Representative Lit
tleton asked Mr.. Perkins. that II
would be possible in attempting to
cure these evils, to get uniform state
action regarding incorporation lawsr'
'I think that would be utterly i'm
possible. at least within a reasonable
time" Mr.. Perkins answered.
ON THE BEST TERMS.
Representative Bartlett asked Mr..
Perkins about the intrinsic and market
values of the Tennessee Coal & Iron
stock at the time of the panic, which
Mr.. Perkins said he thought was less
than the value Of the United tSates
Steel second mortgages five per cent
bonds.
"As / testified yesterday" said Mr..
Perkins, "the trade was made on the
best terms that could be arranged 70
meet the existing situation, all things
considered"
How long prior to this had the steel
corporation declined to purchase the
Tennessee company at any prtce7"
Il don't know that 1t was ever much
discussed but once or two or three
years before the matter of purchas-
ing the Tennessee was suggested to
us. but we did not want IT, said Mr.,
Perkins.
WAS Tennessee refused then al
s5?"
Il don't remember the price"
did the observance OF the law en-
ter into the refusal to purchase Ten
nessee Coal and Iron at that timer
Not at ALL" was the reply. THE
steel corporation was just then round