The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1911-06-09
GARY MAKES DENIAL
..ct ARES U. s. STEEL CORPORA
nom IS NOT PLANNING WORLD
WIDE COMBINE.
OFFERS TO LAY BARE FACTS
chairman OF Board OF Directors APP
oears Before investigating Commit
Zee Of House and Promises TO
Give Frank Statements.

washington, June 2.-Eibert III.
Cary chairman OF the board OF direc-
,ors OF the United States Steel cor
noration. fatty denied any knowledge
n the proposed formation OF a com
bination TO control the steel trade OF
tie world.
Mr. Gary appeared before the house
! committee Investigating the steel
trust. and declared that he had come
10 Washington to tell frankly all that
he knew OF the corporation.
The disclaimer as TO a worldwide
combination was called put by a state
ment by Chairman Stanley that Mr..
GARY was credited with being the d.
recting genius Of such a trust
Lack Of Cooperation Shown.
Examination OF Mr.. Gary brought
out that the department of commerce
and labor and its bureau OF corpora
tons are not cooperating with the
Stanley committee. Mr.. Stanley asked
the witness II he knew whether a re
port OF the bureau OF corporations on
its investigation of the steel corpora
ton had been submitted to President
Taft or former President Roosevelt
Mr Gary said he did not know.
Mr.. Gary declared he would give
the committee all the facts and fig
ures II desired concerning the affairs
Of the United States Steel corpora
ton and its subsidiary companies.
Controls Subsidiary Concerns.
There is not any doubt" Mr.. Gary
told the committee, that the United
States Steel corporation as the owner
OF most Of the stocks of the subsidi-
airy companies ultimately controls
those subsidiary companies. including
their management and conduct"
Asked II the Carnegie Steel com
pany competed now with other sub
sidiary companies In the steel cor
poration. Mr.. Gary said:
Il should say II does. putting my
Interpretation on the word. ! came
to be frank. and TO give you tho exact
facts-that you may put your own
construction on them.
The subsidiary companies have
their own directors and officers and
have tho right TO act independently.
but as the steel corporation owns the
securities, if the conduct of the sub
sidiary company was antagonistic in
auy way il would only be a question
OF time when the administration OF
that subsidiary company would be
changed
You mean the parent company
would control the policies Of any sub
sidiary company?"
Would Control at Election.
III might not for the moment or
the month. but when the time to elect
officers arrived II would"
Mr Gary declared that enforced
publicity and governmental control OF
corporations must come. wen as to
prices. lie believed the Sherman anti.
trust law was too archaic 10 deal with
modern situations and never could full
ly prevent great combinations OF capt
tall What the United States Steel
corporation wanted. he said. was some
responsible and official department OF
government TO which 1t would go and
say:
What prices can we charge and
Just What can we dor
Increased prices are TO be charger
soon for steel rails. according TO Mr.
Gary. Higher cost Of labor and raw
material. with a demand for heavier
rails was given as the reason for the
advance.