The Mobridge news. [volume] (Mobridge, Walworth Co., S.D.) 190?-1917, 1911-07-07
INDICT COMBINE
CHARGED WITH FORMING POOLS
TO RESTRAIN TRADE AND
CONTROL PRICES.
nine WIRE ASSOCIATIONS
Frank Gould and Satterlee, Morean's
Son-in.IaW, Among Accused
Steel Trust Not lmpll.
Gated,

Gated,
New York. July /. Nine indct-
nents charging restraint of trade in
violation of the Sherman antitrust
law We're returned by a federal grand
jury here against as many aSsocia-
tions and long list of individuals
comprising the so-called wire trust,
affiliated with the steel industry.
Prominent among the defendants are
Herbert l.. Satterlee, son-in-law Of
J Pierpont Morgan; William p. Pal
mer, president of the American Steel
& Wire Company, a subsidiary of the
United States Steel corporation. and
Frank Jay Gould of New York, presi-
dent of the Old Dominion Iron & Nail
Works Company.
Only two of the subsidiary COM
oanies of the United States Steel cor
poration are mentioned namely. the
American Steel & Wire Company and
the Trenton Iron Company. The
American Steel & Wire Company,
however, is mentioned in the indct
ments against seven of the associa-
tions. In the indictments against the
Telephone Gable association and the
Fine Magnet Wire association, it is
not mentioned.
The most prominent individual
defendants and full list of the as
/ sociations in which they are members
! follows:
individuals Indicted.
! Frank J. Gould, president Of the
Old Dominion Iron & Nail Works,
Belle Isle, Richmond, Va.
Herbert l.. Satterlee, president of
tie Habirshaw Wire Company, Yonk-
ers, n. Y.
William p Palmer, president of the
American Steel & Wire Company.
Waukegan, H., and Worcester, Mass.
Charles F. Brooker, vice president
of the Ansonia Brass & Copper Com
pany, Ansonia, Conn, and member
from Connecticut of the Republican
rational committee.
Harry G. Stoddard, president of the
Trenton Iron Company, Trenton, n.
Erskine Hewlett, vice president of
the Trenton Iron Company
Frank n. Philips, president of the
American Electrical Works, Philips
dale, r. l.
Ferdinand w. Roebling, president of
John A. Roebling's Sons Company
Trenton and Roebling, n. J.
Philip w. II. Smith, second vice
president Of the standard Under
ground Gable Company. Pittsburg, Pa,
Oakland, CAL and Perth Amboy, ~ j.
Associations Indicted.
The Horseshoe Manufacturers AS
sociation, William p. Palmer and 9TH
ers.
Bare Wire Copper Association, Will
lam p. Palmer and others.
WeatherprOof & Wire Magnet Asso-
citation, William p. Palmer and others.
Lead Encased Rubber Cable AssO-
citation, William p. Palmer and others.
Wire Rope Manufacturers Associa-
ton, Edwin, E. Jackson, Jr., and 9TH
erS.
Fine Magnet Wire Association. Fer
dinand w. Roebling and others.
Underground Power Cable Associa-
ton. Philip II. w. Smith, and others.
Telephone Gable Association, Frank
n. Phillips and others.
Rubber Covered Wire Association.
William p. Palmer and others.
1t is set forth that the various as
| sociations organized under their as
sociation names and each selected
supervisor and adopted rules and reg
ulations. An arbitrary rating was
determined, it is charged, by the ratio
OF output for an agreed time; each
member was obligated to pay $4,000
or less into fund called the gen.
eral deposit and in case any member
failed TO abide by the regulations his
deposit was forfeited.
Raw materials were bought at "ar-
bitrary and non-competitive prices to
be agreed upon by said defendants
being prices lower than those for
which the respective corporations
would be enabled to purchase said
raw materials but for the unlawful
conspiracy herein described"
In the indictment against the Bare
Copper Wire Association, it is charged
that the corporations forming the as
sociation produced 95 per cent Of the
entire bare copper wire consumed In
the United States and that they had
absolute control OF the price.
Upon conviction each of the defend.
ants is liable TO not more than a
INN icn nnnf 80
900, or both.
In the indictments neither the
American Steel & Wire Company nor
the John A. ROeblings Sons Com.
pany, also known as the Trenton Iron
Works, are designated as belonging
TO the United States Steel Corpora.
ton.