The Washington times., 1911-09-29
VIGOROUS INQUIRY
INTO STEEL TRUST
WILL Be RESUMED
House Probe To Be Inde-
pendent Of The Admins
tration's Stand.

Regardless of the attitude of the
Administration toward big business, oil
OF its action or refusal to act against
the so-called Steel Trust, Chairman
Stanley. of the House investigating COM
mittee, said today that the House pro-
posed to proceed with Its vigorous in
quiry into the affairs OF the United
States Steel Corporation.
The House, according 10 Its investi-
eating committee, proposes to follow
its course in an attempt 10 unearth evi-
dence showing that the Steel Corpora
ton is a trust.
Il never have taken any stock In re-
ports that the Steel Trust might volun-
tarily dissolve" said Mr.. Stanley, and
now it is rumored that ii has no such
intention. We are planning 10 renew
our inquiry in November and our PROBE
Is independent of any attitude Whlcn
may be assumed by the Department OF
Justice"
Stanley's Statement.
Chairman Stanley's announcement
comes at a time when ]. Pierpont Nor
gan is reported to be in Washington to
hold a conference with Attorney Gen
eral Wickersham on the question Oh
the Governments attitude toward the
Steel Corporation and big business gen.
orally.
This committee is not studying the
United States Steel Corporation alone"
said Mr.. Stanley. 1T is studying the
whole problem of industrial combina-
ton. This committee by investigating
thoroughly and exhaustively the Uni
ted States Steel Corporation. will be en-
abled to lay before Congress important
data and to propose vital legislation af-
fecting hundreds of other like concerns,
so that in my opinion, the duty of this
committee, and the great benefit to be
derived from its Investigations, will not
be materially affected by any action OF
the United States Steel Corporation,
even If it should finally determine to
voluntarily dissolve.
Urges Penal Sentences.
II cannot too heartily indorse the nro-
posed enfor cement Of the penal prcyi-
sions of the Sherman law. A fine i'm
posed upor high officials Of a corpora
tion Is ultimately an assessment upon
the stockholders in that corporation,
many of whom are innocent. The enor-
nous wealth OF the heads of our great
industrial concerns makes the payment
Of many thousands in money 4 matter
Of little Importance. but big and little
alike dread the loss of liberty and the
infamv which penal servitude entails.
The statement by the President and
the Attorney General, that they are de-
termined to enforce the Sherman anti
trust law without fear or favor, Is eX-
Ccedingly gratifying to me. There IS an
effort on the part Of certain interests
to discourage the enforcement of all
antitrust legislation and to oppose the
we have, on the ground that they are
and out of date; that the !
of the country will be en-
oangeTed by enforcing the law. This con-
tention has but little weight. We all
are anxious to see the country pros
Porous, but it is more important that
We should be law abiding than that We
should be rich"
Big Men to Testify.
Some of the biggest men in the fnan-
cial world are expected to appear be-
fore the Stanley committee when it le-
sumes its sessions in this city Il month !
hence. Among them are J. Pierpont |
Morgan and Andrew Carnegie While |
the investigating committee has not |
made public its list Of prospective wit |
nesses, it has been understood for |
some csP 1Gs time that R these SS o.i"G two nan
to tell of the formation of the United |
States Steel Corporation. If Mr.. Nor
gan takes the stand. it is probable that |
his testimony will consume several |
days. in view of the length of time re-
quired to examine Judge E. H. Gary,
the late John w. Gates, George w
Perkins, and others of the New York |
group of finanCiers.
The House investigating committee |
has agents in the field now collecting
data 10 be presented to the committee |
In November. One of the principal fea-
tures Of the inquiry, when 1t is resumed, /
will be that dealing with the ore sup 1
ply of the United States. OF which it is /
alleged. the Steel Corporation virtually |
has a monopoly. Il