The Miller press. [volume] (Miller, S.D.) 190?-current, 1911-07-06
|INDICT COMBINE
CHARGED WITH FORMING POOLS
TO RESTRAIN TRADE AND
CONTROL PRICES.
Nine WIRE ASSOCIATIONS
rank Souid and satterlee, Morean's
Son'In-law, Among Accused
steel Trust Not Impli.
Gated,

Gated,
New York, July /. - Nine ind,ct-
nents charging restraint of trade in
violation OF. the Sherman antitrust
aW were returned by a federal grand
Jury here against as many associa-
ions and a long list of individuals
comprising the so-caIled wire trust"
animated with the steel industry.
Prominent among the defendants are
Herbert l.. Satterlee, a son-in-law of
J Pierpont Morgan; William P. Pal.
ner, president of the American Steel
K VINE Company, a subsidiary of the
United States Steel corporation, and
frank Jay Gould of New York, presi-
lent of the Old Dominion Iron e. Nail
Works Company.
Only two of the subsidiary com
9anies of the United States Steel COR
poration are mentioned, namely, the
American Steel & Wire Company and
he Trenton Iron Company. The
American Steel & Wire Company,
cowever, is mentioned in the indict-
nents against seven of the associa-
ions. In the indictments against the
Telephone Gable association and the
Fine Magnet Wire association, it is
aot. mentioned.
The most prominent Individual
defendants and a full list of the as.
SoCiations in which they are members
'ollows:
Individuals Indicted.
Frank J. Gould, president Of the
Did Dominion Iron & Nail Works,
Belle Isle, Richmond, Va.
Herbert l.. Satterlee, president of
he Habirshaw Wire Company, Yonk-
ers, n. Y.
William P. Palmer, president of the
American Steel & Wire Company,
Waukegan. ILL.,, and Worcester, Mass.
Charles F. Brooker, vice president
Of the Ansonia Brass & Copper Com
pany, Ansonia. Conn, and member
from Connecticut of the Republican
national committee.
Harry G. Stoddard, president of the
Trenton Iron Company, Trenton, n.
Erskine Hewlett, vice president of
he Trenton Iron Company.
Frank n. Philips, president of the
American Electrical Works, Philips
dale, r. l..
Ferdinand w. Roebling, president of
John A. Roebling's Sons Company,
Trenton and Roebling, n. j..
Philip w. H.. Smith, second vice
president of the Standard Under
ground Cable Company, Pittsburg, Pa,
Oakland, Cal. and Perth Amboy, N. ].
Associations Indicted.
The Horseshoe Manufacturers AS
ISOLATION, William p. Palmer and 9TH
ers.
Bare Wire Copper Association, Will
lam p. Palmer and Others.
Weatherproof & Wire Magnet Asso-
citation, William P. Palmer and others.
Lead Encased Rubber Cable Asso-
citation, William p. Palmer and others.
Wire Rope Manufacturers Associa-
ton, Edwin, f. Jackson. Jr., and 9TH
ers.
Fine Magnet Wire Association, Fer
dinand w. Roebling and others.
Underground Power Gable Associa'
ton. Philip H. w. Smith, and others.
Telephone Gable Association, Frank
n. Phillips and others.
Rubber Covered Wire Association
William p. Palmer and others.
II is set forth that the various as
sociations organized under their as
, ISOLATION names and each selected a
supervisor and adopted rules and reg
ulations. An arbitrary rating was
determined. 1t is charged, by the ratio
OF output for an agreed time; eact
member was obligated to pay $4,000
mr. less into a fund called 1.-The gen
eral deposit and in case any member
failed to abide by the regulations his
deposit was forfeited.
Raw materials were bought at AR
bitrary and non-competitive prices Il
be agreed upon by said defendants
being prices lower than those fol
which the respective corporation
would be enabled to purchase sale
9 raw materials but for the unlawful
u conspiracy herein described"
9 In the indictment against he Barr
Conner Wire Association, 1t is charged
that the corporations forming the as
d ISOLATION produced So per cent of TIL
entire bare copper wire consumed IL
u the United States and that they hat
absolute control of the price.
e upon conviction each of the defend
q ants is liable to not more than
. wears imprisonment, or a fine of IS
: 600, or both.
= In the indictments neither tn
American Steel & Wire Company no
the John A. Roebling's Sons Con
pany. also known as the Trenton lroI
- Works, are designated as belongin
!. 10 the United States Steel Corpors
ton.