New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-02
KNOW DATES OF POOLS'
Comment on Wire indictments
Amusing. Officials Intimate.
TWO NOW EXIST, THEY SAY
Steel Common Advances-Car
negie Expects Court of Com
merce to Fix Prices.


district pronouncing the governments &C
ton against the wire combinations az one
directed against dead POOLS and agree
ments that had ceased long ago were re-
ceived with amusement by the government
officials who investigated the cases. man
who has been very active in gathering the
evidence on which the eighty-three persons
were indicted on Thursday pointed out
yesterday that. according to the indict-
ments. two OF the pools were still very
much alive and subject to agreements
which counsel for the Steel Corporation
conceded to be Illegal.
The government knew well that seven
of the pools had expired said this gov
eminent official. but ii also found evidence
that two Of the pools had continued their
activity up 10 the present moment. Any
body who cares 10 read the indictments
carefully will find that the term of exist
ence of every one of the pools has been
carefully specified by the government.
Among the dead pools there are several
that had 10 all appearances ceased In their
agreements very recently-.n fact. so re-
Gently that the conclusion forced Itself
upon one that they had received an mixing
u n possible investigation and decided TO
avoid trouble"
The two pools which the government
charged have been continued until the
present time were the Rubber Covered
Wire Association and the Horse Shoe Man
ufacturers Association. Herbert l.. sat
teree was indicted in connection with the
first and Frank j. Gould fer taking part In
the other The American Steel and Wire
Company. one Of the largest subsidiaries
of the Steel Corporation, figured in both OF
them.
The indictments in these cases made the
following allegation as TO the term during
which the Illegal agreement continued in
force
and from said first day Of June.
nineteen hundred and eight. ard cont!nl,
ously and at all times from said date enlli
the fling and presentation OF TINS indlct-
ment all IL the said defendants We're KNOW
ingly and wlfully engaged in said unlaW-
ful combination and conspiracy
This certainly does not sound as If
those pools were dead" the official contin-
ued. THE difficulty encountered by the in
vestigators was in being compelled 70 3D.
tain information in n very cautious and
roundabout way. so as not 10 grant i'm
munity 10 any man who should be indicted
II the government had subpunaed before
the grand jury a man who knew all acout
the pools because his company had par
tcipated in them lie could not have been
indicted.
In regard 70 verbal agreements and I'M
derstandngs reached a. Informal gather
ings. Ike downtown Iuncheons and uptown
dinners, evidence i9 still more difficult 10
obtain. The practice Is not new. and
suppose the general pubic has been as
much filed with wonder at the reports OF
these affairs as We have been. The ac-
counts OF these dinners published in the
daily papers the next morning arc fire.
quently in the form OF a brief statement
issued By the host after the affair IS over
No outsider IS permitted al the gathering.
Almost Invariably the statement de-
scribes the affair as a purely social one.
The dozen or more speeches made are said
10 have been entirely devoted 70 the well
fare OF ;he worNngmen employed IN the
factories and nils controlled ny the men
gathered at the dinner.
Prices Of raw material and finished
product are never discussed though the az
ter dinner speakers, according 70 the Official
account expressed individual opinions that
there was really no reason 20 reduce them
The report Of the Commissioner Of Cor
porations on the United States Steel Cor
poration was regarded in the financial dis
trict as not unfayOrable to the great com
lany, and the view was reflected in the
market movement Of steel common, which.
starting at rs y, a shade under Fridays
clo1e, rose 20 1914 On covering Of shorts.
rcceding to 7S", at the close. the inal price
of the preceding day. Steel preferred, in
which the transactions were only 400
shares. closed Is point up from Friday.
Great Northern ore declined p points.
London. July In reply TO a request
for his opinion Andrew Carnegie to-day
addressed the following telegram from
Skbo Castle 10 the London office Of The
Associated Press:
Ny view is that the Indictment Of the
directors u the steel wire companies -
made in strict obedience with he law, but
the results Of the trial VIII determine
whether 1t viii be correct. The punish
n-cnt or release Of the directors, however,
is OF trihing moment.
What We must recognize IS that com1ina-
tons do take place, and that these cannot
DEE allowed 70 determine prices. The Court
OF Commerce which is already regulating
railway charges. Will be found amply suffi-
Cicnt 10 regulate combinations. There can
b. only one result Of all this agitation, and
that is that the Court Of Commerce will
have access 10 all papers of Industrial com
TGnies and fix prices liberal and fair 10 the
actual capital invested. and fair to the con-
sumner
TO this completion must il come ar length
ANDREW CARNEGIE.
v
REFUSES TO BE A CLERK