The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1911-06-30
WIRE TRUST
HIT HARD BY
GRAND JURY
Many Capitalists indicted icI
Violation Of Anti
Trust Law
tBy Associated Press.l

New YORK. June S0~Nlne iEdict-
ments charging restraint Of trade ~
violation OF The Sherman antitrust
law We're returned by a federal grand
Jury here Thursday afternoon against
as many associations and long liss
of individuals comprising the so caii-
"a wire trust2 affiliated with the
steel induatry Prominent among
the defendants are Herbert L. sat
terlee, sonIn-law of J. pierpont
Morgan, and William Palmer, pres
ident OF the American Steel and Wire
company, subsidiary OF the United
States Steel corporation, and Frank
Jay Gould OF New York, president o.
the Old Dominion Iron and Nail
Works company
what this suit charges District
Attorney Wise said, "is trade agree
ment Iii restraint of trade,
The government does not seek 70
establish physical OF financial mer-
ger OF The properties or interests IN
dicated but a series Of pools TO main
tain prices and apportion territory
ip elimination of competition and
30 In violation oil the Sherman anti
trust act.
The most prominent Individual de-
| PENDANTS and full kst Of the assocj-
ations In which they are members
! follows:
individuals.
Efank Jay Gould. president Of the
| Old Dominion iron aud Nail works,
Belle Isle Richmond Va.
Herbert L, Satterlee, president OF
the HabirshGw Wire company. Yon-
kers, N. Y.
William r, Palmer, president OF
the American Steel and Wire Nail
company, Waukegan. H.. and Wor-
cester, Mass.
Charles II. Brooger. vice president
Of the Ansonia Grass and Copper com
pany. Ansonia, Conn, and member
from Connecticut oI the Republican
national committee.
Harry e. Stoddard, president OF
the Trenton iron company Trenton,
N. J.
Erskine Hewlett, vice president OF
the American Electrical works, Phil.
lipsdale, r. i.
! Ferdinand nv Roebling, president
Of John Al Roebing's Sons company
Trenton and Roebling m. Y,
Philip III WI. Smith, second vice
/ preslaent ol the Stanard Under
! ground Gable company, Pittsburg
Pa Oakland, Cal, and Perth AmboS
| N. ].
Associations.
The Horse Shoe Manufacturers as
sociation, William Palmer aud 9th
| ers,
| Weatherpfoof and Wire Mague
association William r Palmer ant
| other.
| Bare Copper Wire association, WI
| liam Palmer aud others
| Lead Encased Rubber Cable asso
| citation, William Palmer and others
| Wire Rope Manufacturers associ
| alton, Edwin ~ Jackson. Jr. ant
| Others.
Fine Magnet Wire association
| Ferdinand w Roebling aud others
| Underground Power Gable associ
atton Philip III WI Smith nd 9th
/ ers
/ Telephone Gable association. r.. n
| Phillips and Others
| The general charges j All the in
| dictments are the same, allowing fnl
| the difference of the business ii
which the defendants weie engaged
| Thus one indictment reads:
| Because said corporations gt al
such times have been, and In fac
now are. separate and distinct from
each other, their said interstate bust
ness should have beeu conducted b
each strictly on a competitive basis
land would be SO conducted but for
the unlawful conspiracy herein men
| toned
X IN set forth that the various as
soclations organized under their an
sociatlon names and each elected
supervisors and adopted rules ant
| regulations, An arbitrary rating
was determined, Il Is charged. q,
| the ratio OF output for an agree
| timei each member was obliged I,
| pay S5,0p0 or less into i fund calIee
the general deposit and In cass
any member failed to abide by tn,
regulations his deposits was for
| feited.
| Raw materials We're bought II i
| alleged Iii one Indictment, at Ar
| hitFary aud non-competitlye price
70 be agreed unon by said defend
ants, being prices lower than thos,
| for which the respective corporation
would be enabled to purchase sal
raw materials but for the. unlawfu
conspiracy herein described"
4 N the indictment against the Bar
Copper Wire association 1t Is char
II led that the corporations forming IN
association produced % per cent d
The entire bare copper wire consun
al hi the United States and that the
had absolute control III the price,