Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1911-08-08

stead of Judge Gary fear 1 would
have been accused OF socialism," Mr..
Roosevelt answered.
do you think you have escaped the
Iaccusation?'
IF / have I should say it is the only
accusation have escaped was the re-
ply.
ASSUMES RESPONSIBILITY.
Returning to the visit of Gary and
Frick to the White House and to the
powers of the attorney general to en-
join combinations that might be in vio-
lation Of the Sherman antitrust law.
Representative Littleton asked:
Il suppose you naturally understood
Mr. Gary and Mr.. Frick were coming to
you because of a distressing situation
+ in New York, because if they undertook
to do this thing without apprising the
government fully what they intended
| to do, and they were enjoined in the
proceeding by the attorney general, it
would make the difficulty all the
worse"
MY own belief was" Mr.. Roosevelt
said, that they knew that even if I
did not direct an Injunction against
them, that If I merely stated that IL
ought not to be done, that they could
not 40 II.
YES" Mr.. Littleton continued, -in
other words, the adverse attitude of the
government. whether in distinct direc-
ton to your department of justice, or
the announcement of your position
would have been conclusive against
| it, said Mr.. Roosevelt, finishing the
sentence.
LAS l said, my responsibility was
complete and absolute. / cannot state
| it any stronger"
In course of the investigator MT.
Roosevelt was asked:
ibid they advise you that nine-tenths
of this Tennessee stock was locked up
in the strong boxes of multi-millionaires
on account of its value, and that the
stocks value had purposely been de-
stroyed in Wall street by pegging, and
| that only 80 per cent of this stock was
involved in the loans that were In
troubleg'
Nobody talked to me on the lines you
suggest at ALL said Mr.. Roosevelt.
Have you seen me report of Herbert
Knox Smith, of the bureau OF corpora
lions, on the United States Steel corpor-
alton said Mr. Stanley, setting forth
that the corporation was worth about
$40. .000?'
''No."
STANLEY ARGUES 1T.
: Mr. Stanley then made long argu-
ment regarding the actual values of the
steel corporation, asking Mr.. Roosevelt's
opinion thereon.
II do not want to answer hypothetical
questions based on Mr.. Smiths or any
ones conclusions, Mr.. Roosevelt de-
clared.
did Mr.. Frick or Mr.. Gary tell you
that no bank in New York or no stoe--
broker ever had told them the absorption
of the Tennessee Coal and Iron by the
United States Steel was necessary for its
salvation?"
Il never heard anything about such
matter" Mr.. Roosevelt answered.
did they tell you there was no
trouble except with certain stock
Tennessee Coal and Iron in the market
Tennessee Coal and Iron in the market
in a way that we call out west by an
ugly Manner
"OH, MR.. STANLEY"
"Oh. Mr.. Stanley. don't hurt my
feelings" Mr.. Roosevelt replied with
chuckle,
did they advise you that certain
wine agents had been kiting this Ten
nessee stock and that Kessler, the wine
agent, and Grant B. Schley, a stock
broker, had got into trouble without the
knowledge of their colleagues and that
such men as L. c. Hanna, K. w. Ogles-
by and others, when they found out the
situation offered the use of their money
and securities to prevent their fail
lure?
eoh! no, heard nothing of that"
said Mr.. Roosevelt
Were you not advised that Kessler
and Schley got into such a condition
that If these stocks were not turned
over to the United States Steel Cor
poration, they, Kessler and Schley.
would go to the wall. and that the
real fight was not TO save the bankers
of New York. but to save certain stock
jobbers?"
Il never heard the name of Kessler
before this moment"
Col. Roosevelt, I am neither a pro-
phet or the son OF a prophet" Chair