Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-06-10

THE STEEL INQUIRY.

Washington. June 9.-The first clash
between the House committee OF in
quiry into the United States Steel
Corporations affairs and counsel for
that company, occurred today when
Percival Roberts, Jr., director. was
under examination. Mr. Roberts and
Former Vice President James Gayley
of the Corporation were today's wit
nesses. Both testified that agreements
as to parcelling output were made be-
tween steel manufacturers before the
Steel Corporation was formed. Rep.
Beal of Texas asked as to the phil
anthropic" motive of the which ac-
tuated the Steel Corporations !. ac-
QUESTION of the Tennessee Coal and
Iron Co. Attorney Lindabury protest
ed and on his demand the question
was materially modified.
The committee sought today to
show that by means of the Gary din
ners" the prices of steel products
We're maintained and competition was
curtailed, as effectively as they were
prior to the Steel Corporation's fnrma-
ton, by "Gentlemen's agreements"
made despite the Sherman antitrust
law g.
Much of the examination OF Mr.
Roberts was a more or less academic
discussion of j. Pierpont Morgan,s
Industrial potentiality though Mr.. Nor
gans name was generally avoided in
the question and a question of the
system of interlocking of directors OF
the Steel Corporation and other big
industrial enterprises
was 1t the same spirit of philanthropy
that guided independent steel manufac-
turers to make agreements before the
organization of the United States Steel
Corporation. as prompted the Steel Cor
poration to save the nation in 1907. by
taking over the Tennessee Coal & Iron
CO.." Rep. Beall asked Mr.. Roberts.
Mr. Roberts was replying that he. did
not believe philanthropy entered into
business, when Attorney Lindabury said:
Il submit that arguments between the
questioner and the witness are unseem-
ly."
The form Of the question was finally
changed and Mr.. Roberts answered that
since the formation of the Steel Corpor-
alton business men in this country had
new ideals which Influenced them to
avert destructive competition.
II believe" he said. that through the
Gary dinners men in the steel business
have accomplished great results for the
benefit of all by the application of good
common American sense"
With ]. Pte-pont Morgan in mind.
though not mentioning him by name.
Chairman Stanley asked:
rs there In the financial world today
a man of infinite power and vast inter-
adk l. 4.
as the law by big business menu"
NO" replied Mr.. Roberts, II think
there are certain new ideals of co-opera-
ton which govern us all. ideals that may
be personified in certain individuals"
rs there such an Individual in Amer.
ica?" asked Stanley.
Yes. think so.'' I
Where does he reside?''
Il think his name is legion. At least
that is the hope for the future of this
country. If we destroy individualisrn.
we surely will get into trouble.
"Who is the example in the steel In
dustry?''
II think no one man particularly"
rs there not one mani" Stanley con-
tinued. whose example business men
of the nation follow, on account of his
Immense grasp of modern conditions.
his touch which potentiates the rail-
roads of the nation. the steel manufac-
turing business, the establishment of
banks and extends to all the muitifa-
rfous ramitications of the business OF
the country and who can not only
frame business conditions. but change
them by the mere press of a button?''
II suppose I have in mind who you
mean" Mr. Roberts answered, smil-
ingly. Whatever he may accomplish
for the good of the government and
UNFOLDING the business interests of tba
country. he does by reason OF his quail
Continued on Page Twelve-)