The Bridgeport evening farmer., 1911-08-05
,on which to make loans ?"

 '.No that was not mentioned"
 Stanle- reviewed the testimony l showing that of Moore & Schley' S stock only a small proportion were found to be T. c. & I. stock and asked if the Wall street men had told him this fact.
 "No, that was not mentioned. New York banker after banker had advised me that T. c. & I. stock was value less. Prick and Gary conveyed the impression that the replacing of T. c. & I. stock with steel bonds would stop the panic" M Did they advise you that a stock jobber named Schley and a wine mer- chant named Kessler had been kiting the small amount of free T. c. & I. stock, that they were gambling in T. c. & I. and had involved them- selves? Did they tell you that this transaction was to save, not New York, but the two stock jobbers?" ''No, they never said anything like that" said the Colonel.
 Stanley elicited that Prick and Gary had given Roosevelt the impress sion that they were simply absorbing another steel plant and that he had no knowledge of the great ore hold ings of T. c. & I. The Colonel said he had never heard from Commission CT of Corporations Herbert Knox Smith as to the ore holdings of the steel corporation, although Smith had investigated that concern. Were you satisfied that your ac- tion was necessary"
 .1 was"
 In summarizing his testimony at the close, he exclaimed:
 From the informat tion which I had at that time and all of the informa- ton have had since. leads me to believe that, not only was my action in the case warranted and proper, but that would have been criminal in my position as the representative of the people of the United States if I had failed to take that action
 Roosevelt was led into a discussion of the trust problem in the abstract and after a lengthy speech Stanley asked the Colonefs opinion of trust busting:
 .'You will never achieve your pur- pose byasplitfine up the big corpora- Aons into their componpl1 parts afd expecting them to compete" declared the Colonel, s1 am in favor Of our national government taking the posi- ton of Germany. and by action and interference in favor of the peoples interests, exercising stricter control of big corporations with monopolistic tendencies.
 '1 believe" answered Stanley, .'that we should immediately proceed to divorce the United States Steel Cor poration from every common carrier in the country. The rate rebater which violates either the spirit or the letter of the antitrust law, should be stopped at once and I would by ex- planation which I think would be constitutional prevent any director in the steel corporation from acting as a director in any railroad com pany-" .'So would l." interrupted Roosevelt barring his teeth and pound ing the table before him. "Then," fo n1a hot the businesses are conducted proper ly"
 'T agree with you." acquiesced Roosevelt, .and I would go even fur ther. I favor the government exer- cising direct control of these big busi- ness corporations"
 In concluding his testimony, Roose- welt declared that he believed that the information given him by Prick and Gary was essentially accurate.
 "It would be unnecessary for me-" he said, "to form any Judgment as to whether the steel corporation was anxious to get the TIC. & I Company because it would be a benefit to their business or whether they were anxious only to save the situation.
 Tn all essentials, I believed that their statement of the situation was accurate. Insofar as they influenced my action, or my Judgment as to the effect of that action on the country. the subsequent events exactly bore out and justified my action."
 With this the ColonePs examination ended and after an exchange of cour- tesies between himself and the court, he made his way through the crowds that had jammed the room after his appearance became known and left sthe city hall.
 Despite the fact that Roosevelt de- clared his belief that his action was necessary, the committee has proved by many witnesses that the T. c. & l., was one of the best steel proper ties in the world; that it would pro- duce steel cheaper than the trust and that its acquisition ''to save the situa- ton" gave the trust ownership of one of it's most powerful competitors.
 Charles M. Schwab, whose testi- mony was interrupted to allow Roose- welt to take the stand, resumed when the Colonel finished.