Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-11-29
CONTROL OF TRUSTS
Ebert H. Gary Suggests Pub
Iicity and Rigid Laws.
SOLUTION OF THE PROBLEM
Says United States Cannot Give Up
Big Corporations.
CURLING PROCESS Is NEEDED
Advocates Plan to Protect Public In
terest and Yet Preserve Com
binations Of Capital.
SOLUTION OF THE PROBLEM
CURLING PROCESS Is NEEDED

| Complete publicity of the affairs of grea
| corporations coupled with rigid laws de
filming the character of legitimate corpora
| ton business will solve the trust problem
in the United States, according to Elber
III. Gary, chairman of the board of direct
ors OF the United States Steel Corpora
| ton, who appeared before the Senate com
| mittee on interstate commerce today t.
| give his views on trust legislation.
1.-THE first great thing is publicity sait
| Mr.. Gary. 1.-THE great corporation that II
compelled to publish its facts and figures
| and to live up to the requirements Of the
law will prove great thing for the en-.
| tire country"
Big Corporations Necessary.
| Mr.. Gary declared that the United
States cannot give up the big corpora
| ton or the big combination of capital
They are necessary, he said, If the
| United States is to maintain CONNER
cial supremacy and industrial equilib-
! rum, and the greatest public good will
be secured by working out a system OF
! federal control that will prevent the
misuse of the power of corporations.
I'm the last few years. said Mr.. Gary
there has been much in the manage
ment of great business affairs that was
wrong. Many of the great business
men, including, perhaps, myself, had
notions concerning the conduct of bust
ness which should be changed.
oped to point where they must be
curbed to prevent the misuse OF their
power.
when we realize that with the ability
to accomplish great results is involved
the power to do great wrong" said Mr.
sUyo some
plan should be devised to protect the pub
lie interest and yet preserve the corpora
ton for the great good it can accom-
plish."'
Plan for Curling Trusts.
As a. curb for the trust evil Mr.. Gary
offered the following plan:
Federal license of corporations, requir-
ing full publicity. preventing Overcapital-
ization and preventing discrimination in
cases between persons and localities.
The creation Of corporation COM
mission with power to grant, suspend
and revoke federal licenses subject to
a right of appeal to a court.
The corporation commission to have
power to decide questions submitted by
managers of business organizations
who desire to avoid Illegally in their
actions. and to regulate prices as far
restraint of trade.
For example, said Mr.. Gary, "if
prices should be established by trade
agreement, or If raw materials, such
as cotton or tobacco, should be pooled.
or if patents should be used to public
empowered to establish maximum prices
for the goods thus controlled"
Purpose Of Capitalists.
Mr.. Gary said the steel corporation
had been accused Of making agreements
to restrain trade and increase prices. 1t
had never done more, he said, than to
try to expand trade, maintain fair
prices steady the market and prevent
wide fluctuations. This had been the
purpose of the so-called Gary dinners
and the conferences among steel men.
But now, with these dinners and con-
ferences mentioned in the government s
bill Of complaint filed against us. 1 am
afraid of mourning public displeasure
liz I do anything to maintain the
equilibrium Of prices" said Mr. Gary.
low cost, and if the situation continues
they will go into bankruptcy.
Change in Conditions.
1--WE wouldn't think of doing now" he
added, what Mr.. Carnegie and others
would have done twelve years ago. and
would have thought perfectly right to
do"
The witness declared that there can be
no return to unrestrained competition In
the United States without the destruction
of the weaker individuals. and companies
by the greater ones. He declared that
publicity was the remedy to accomplish
the most good in regulating the big COM
binations.