Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-09-27
Stanley Inquiry Committee Ac-
cepts Gage of Battle.
GETTING ITS FACTS READY
Defiant Attitude Of Corporation Di-
rectors Causes Horns to Lock.
ATTORNEY GENERAL MAY AID
Investigation Along New and Old
Lines With Widened Range.
Early Hearings Probable.

AS the Haunting of the proverbial en-
carmined garment before the bovine. so
will be the defiance of the United States
Steel Corporation, as expressed by its
board of directors yesterday. in the
eyes of the Stanley steel trust investi-
eating committee.
Not a word to say" was the COM
ment today of Chairman Stanley. when
asked for his opinion of the steel trust 8
statement given out last night But
his law set like steel trap and the
light of battle was in his eyes It's
dollars to doughnuts that Mr.. Stanley
corps of investigators will work over
time from now on getting ready for
the resumption of the committees
hearings early in November.
j. Pierpont Morgan and all the di-
rectors of the steel corporation Will
be hailed before the committee and put
on the grill. 1t will be spectacle
for gods and men when Mr. Stanley ana
Mr.. Morgan lock horns. for Mr.. STANLEY
will not go up against 1hat Ieooup.apie s.1' ~,
financier until he is armed with an
array of facts upon which to base ques-
tions of a very interesting character.
Expresses No Surprise.
Mr. Stanley was not surprised at the
defiant attitude of the steel corporation
realizing as he does that it is quite In
keeping with the position maintained
throughout the hearings last session ny
all of the witnesses who took the stand
in behalf of the corporation. Not one OF
them admitted that the steel trust iad
ever done anything wrong, but, on the
contrary every mothers son OF them IN
sisted that the corporation was benen-
cent institution and really engaged IN
the uplift.
One practical result of Mr.. Morgan's
def will be closer working relations be-
tween the Stanley committee and the
Department of Justice and the bureau
of corporations-that is, If Attorney Cen
eral Wickersham is in earnest in his de-
clared intention to probe the aHairs OF
the steel trust. with view TO determin-
ing whether it is liable to prosecution
under the Sherman act.
There were evidences of lack OF team
work between the committee and the de-
partments in the recent hearings. This
may have been due to the impression
that the Stanley committee was DEM
ocratic political effort and that the gov
ernment would pursue its Inquiries in Its
own way. 1t will be recalled that Chair
man Stanley had to go to President Taft
to get him to lift the lid in the bureau
of corporations for Mr.. Stanley to reach
some information he was seeking.
II is not thought that the government
will relax its inquiries as a result of the
steel trusts challenge. 1t is an absolute
certainty that the Stanley committee will
not. but. on the contrary, VIII reoounie
efforts to bring to light conditions tend
ing to warrant further investigation by
the prosecuting branch of the govern
ment.
Inquiry Takes Wide Range.
Indeed, il was because of the belief
that the Department of Justice was not
exerting itself to the utmost to investi-
gates the steel trust that the Stanley
committee was formed. The ignoring by
the department of the charges brought
BY the Federation of Labor really started
the ball rolling with the democrats OF
The House, but the inquiry OF the commit
tee has already gone far beyond these
charges and opened up leads in dozen
different directions.
So if Attorney General Wickersham
needs any stimulus for his further inveS
tigation of the steel trust. 1t will be fur
nished. il is presumed. from day to day
by the testimony which Chairman STAN
ley expects to bring out before the COM
inittee.
Ii is not improbable that the Stanley
committee may advance the date of the
resumption of its hearings. owing to the
great public interest growing out OF re-
cent developments. 1t may decide to be-
gin taking testimony in October instead
of November.
Widespread interest was manifested IN
this city in the Morgan challenSe.as, in
deed has been felt in all of the recent
incidents connected with the corporation
and the rumors of dissolution and prose-
cJttfon Not alone is Washington heavy
trader in steel trust securities. but the Of
ficia and congressional end of the game
served to maintain interest
Keen Interest in Quotations.
The offices of the big brokers up
town were crowded today when the
market opened. and everybody was
watching the board for the first quota
tons on steel The common stock
closed yesterday at 567s The first an
nouncement this morning was of $4,000
shares at; from 50 to g.. This hand
some advance caused profit taking,
with a reaction to so. and rapid fuc-
tuations up and down thereafter. The
preferred stock. which closed yesterday
at I06 and a fraction, opened at 1O9
and jumped quickly to 113
II is heported that since August the
sales Of steel reported on the stock ex-
change amounted to 7.3SO,603 shares. This
is 2,295.65l more than the outstanding
issue of the stock. Inasmuch as the
shares which comprise the controlling
ownership in the corporation never
leave the strong boxes, and as hum
dreds of thousands of shares Of in
vestors likewise remain under lock
and key, ii is evident that a great
deal of the trading has been on paper