Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1911-10-28

though not by name, as meetings, which
1 accomplished more than written pools
or agreements which were frequently
/ broken.
/ InterIocking directorates. through
which those in power In the Steel
i corporation held positions Of influ-
ence on the directorates of other pow
erful corporations, are referred to as
i "methods more refined, more euphon-
'lious. but none the less effective than
I polls"
The government reviews exhaustive
lily the conditions in the steel trade be-
/ fore the consultations of 1888 1900,
concerns and corporations prior to
/ the formation of the United States
Steel Co itself in 1901. 1t recites the
l financial 'manipulations" to gain con-
troll Of the Tennessee Coal. Iron &
Railroad Co., brings the solvent firm
of Moore & Schley to the verge OF
| failure and then getting control Of the
Tennessee stock which the firm held,
'ostensibly to avert great panic IN
this connection refer ence Is made to
inspired newspaper articles and the
visit of Gary and Frick to Roosevelt.
Roosevelt Was Deceived.
1.-THE president recorded. in 9 letter
| to the attorney general, written In
their presence, their representations,
the petition says. "He states that said
Gary and Frick told him that there
was certain business firm which
would fail If help should not be given
and that among it's assets were q ma
jority Of the securities Of the Tennes-
see Coal Co. The Arm referred to was
Undoubtedly Moore and Schley but It
was not true that among the assets of
the firm were majority OF said Sc
curities. Nor was it true that Schley
1t to q MO IN W. ar
anything approximating 1t. The pres
ident further said in his letter: Judge
Gary and Mr.. Frick informed me that,
but little benefit will come to the steel
corporation from the purchase
This statement to the president
was misleading one. The property
was very valuable"
The bill goes on to allege the forma-
ton of illegal pools known as the Steel
Plate association, the Structural Steel
association. the Steel Rail combination.
the Wire Rope combination, the Rub
Der Covered Wire combination, the
Horse Shoe Manufacturers association,
the Underground Power Gable COM
bination. the Weather Proof and Mag
net Wire combination. the Land En-
cased Rubber Gable combination and
the Bare Copper Wire combination.
These are all alleged to have been
illegal agreements to suppress COM
petition and fix prices in the commo-
dities indicated by their names.
Combinations. other than written
pools and agreements, the government
charges, were entered into at various
meetings.
Great and Dangerous Power.
1T is not here alleged that merely
assembling and mutually exchanging
information and declaration Of pur-
pose amounts to an agreement or COM
bination in restraint Of trade" the Pc
tition says. These meetings and their
results have gone further What they
actually accomplished shows the great
and dangerous power achieved by the
corporation through unlawful COM
bination exercised over the trade and
commerce of the country. The con-
certed action taken has prevented
fluctuations in prices and competi-
ton"
Attached to the bill. among many
other exhibits Of alleged agreements. IS
a statement showing the extent to
which the steel corporation is repres-
ented in the directorates Of other con-
Germs. 1t shows George #. Baker as a
director in IS others: Edmund c. Con-
verse in 20. VIM. e. Corey in 80; J.
MorganSin 81.