The Birmingham age-herald., 1911-10-27


 or attempt to maintain amonopoly of tn There are 36 subsidiary corporations named as defendants.
 J. Pierpont Morgan, John D. Rockefel- Ter Andrew Carnegie, Charles M. Schwab, George w. Perkins, E. H. Gary, John D. Rockefeller, Jr., Henry c. Prick, Charles Steele, James Gayley, William H. Moore, J H. Moore, Edmund Converse, PerciYal Roberts, Jr.. Daniel G. Reid, Norman B. Ream, F. A. B. cideier and William Palmer are named individually as defend- ants
 The United States Steel corporation. Carnegie Steel company, Carnegie com- pany of New Jersey, Federal Steel com pany, National Steel company, American Steel and Wire company of New Jersey, National Tube company, Shelby Steel Tube company, American Tin Plate com pany, American Sheet and Tin Plate com pany American Sheet Steel company, American steel Hoop company, Ameri- can Bridge company, Lake Superior Con solidated Iron mines. all of which we're organized under the New Jersey laws and the H. c. Prick Coke company, Tennessee Coal, Iron and Railway com pany and the Great Western Mining com pany, are named as corporate defendants. Louis w. Hill James J. Hill, Walter J. Hill, E. T. Nichols and J. H. Gruber are named as trustees in connection with ore companies.
 Ore Lease Illegal
 The Steel corporations lease of fhe Greater Northern Railways ore proper ties is alleged to be illegal Steel directors cancelled the lease, but a few hours be- fore the filing of the bill. The govern ment acknowledges that 1t was advised of the Steel corporations intention in this respect but states that under the terms Of the lease no cancellation would be effee- tive until January l, 1915, and there is no limit upon the amount of ore that can be taken out in the meantime.
 Sensational allegations fairly toppe over each other in the government pe- ton which is an equity proceeding pray ing for injunctions to stop continuance of the alleged monopoly, and such other relief as the court may grant.
 The Steel corporations acquisition of the Tennessee Coal and Iron company during the panic of 1908 is declared Illegal and scathingly criticised The petition declares that E. H. Gary and Henry C. Prick misled former President Roosevelt when they told him that but little bene- fit will come to the Steel corporation in the purchase.'
 The President" it says, was not made ful1V acauainted with the state of affairs fin New York relevant to the transactions as they existed If he had been fully advised he would have known that de- sire to stop the panic was not the sole moving cause, but that there was also Q desire and purpose to acquire the con trol of company that had recently as- suaed position of potential competition of great significance. It is certain that the corporation aVailed itself of the em- barrassment of Moore Schley, New York brokers, who had large holdings of Tennessee stock, at a most critical period, nnd the hammering of the Tennessee stock and the threatening of "a general financial calamity to acquire the control of a competitor taking on formidable aspect
 ..The corporation thus greatly strength ened it's control of the countrys iron ore supply, its predominating position in the eoath's iron and steel trade it says, and eli,ninated a competitor and unlawfully acquired a power which is menace to the welfare of the country and should be destroyed
 Gary Dinners
 The Gary dinners are referred to, though not by name, as meetings which accomplished more than written pools or agreements which were frequently broken.
 ..lt was understood and agreed" says the bill that they (the steel manufac- turers represented at the meetings) were bound to protect one another that to carry out this purpose their honor was at stake and that the obligation binding upon them was even dearer than life itseii ana that no one should act or fail to aet eX- cept with distinct and clear understanu- ing that his honor was involved and that this was more binding on him than any written or verbal contract. When bldden by the chief executive of the corporation they came at any time from any distance ready willing and anxious to turn over to aim and to. his friends all that was in their minds and in their hearts concern- ing their own business.'
 ipterlocking directorates through which those in power in the Steel corporation held positions of influence on the direc- torates of other powerful corporations are referred to as "a method more refined, more euphonious, but none the less effec- tive than pools
 tributed," says the governments peti- tton sthe corporation is in direct touch with all of the large railroad and steamship companies of the United States. such powerful concerns as the Standard oil company, the Pullman romnanv. the International Harvester o,,nonv and the Western Union Tele- rraph company. and with the over whelming majority in money and power of the banks and trust companies i,l,5,aie or or the United States the possibilities oi the power and control that may thui be exerted over trade and commerce IS inestimable The powers and control that have been exercised by the cor poration largely through its grasp of It's tentacles thus thrown out upon tne consumer, competitors and capital 's Incompatible with the healthy commer- oial life of the nation
 The government reviews in great detail