The sun. [volume] (New York [N.Y.]) 1833-1916, 1911-07-25
"TRUST AGREEMENT" BURNED
STEEL PROBERS HEAR Of AN
ALLIANCE TEN YEARS AGO.
Copy Of II Produced. Although II was
Never SiEned-It Was In Operation. In
Enect. one witness Testines. for
More Than Ycar-1ts Provisions.

~
which eleven steel and iron companies
were parties. was placed in evidence to-
day before the House committee that is
inauring into the operations Of the United
states Steel Corporation. This agreement.
which Representative Stanley of Ken
lucky, chairman Of the committee. de-
clares to have been in operation for
period Of two years. or until 1902. year
after the steel corporation was formed
is regarded nv MIR Stanley as "the big find
Of the pending investigation. According
to the copy Of the agreement submitted
by Chairman Stanley to-day the follow
ing companies were parties to the trust
agreement:
Carnegie Steel Company, Jones 4
Laughin. Ltd, Illinois Steel Company.
Crucible Steel Company Of America. Otis
Steel Company. Tidewater Steel Company.
Lukens Iron and Steel Company. Worth
Bros. Company. Central Iron and Steel
Company, the American Steel and Wire
Company and the Glasgow Iron Com
pany.
The companies enumerated mutually
agreed 10 and with each other to form an
association for mutual interests. and to
enable them to pay liberal wages to their
workmen and to he known as the Steel
Plate Association of the United States"
The agreement stipulated the amount OF
production and shipments allotted to each
company. the Carnegie Steel Company
having 1925 per cent, the Illinois Steel
Company IL per cent. and so down
the line to the Glasgow Steel Company.
TO the extent OF sales and up TO 5000
tons. should they be able TO accomplish
them prior to Dec. 81. 1901"
The agreement provides that each OF
the signatory companies should make
reports at stated intervals showing the
quantity Of material produced and
shipped These reports. il was directed.
should be made to a commission named
by one Of the officers Of the association.
Eugene C. Bonniwel of Wayne. Pa.
and F. B. Kaufrmann Of Coatesville. Pa,
appeared before the committee to-day
II was through them that Chairman
Stanley obtained a copy Of the trust agree
ment Kaufman is printer and printed
the agreement for the Lukens company.
Bonniwell. who is a lawyer. learned Of
tine existence Of the agreement in conver-
sation with Kaufman.
Kaufman testified that the secretary
Of a member OF the T.ukens firm came
into his Office and demanded the
copy submitted for printing. The secre-
tary. according TO Kaufman. disclosed
that a blunder had been made in having
the copy printed He said the head Of
the firm had been rebuked by a steel
officer for ordering a print Of the agree
ment.
r. V Lindahury. counsel for the Steel
Corporation. objected TO the incorpora-
ton Of the agreement into the record
on the ground that it was improved
He pointed out that the agreement was
entered into year in advance of the or
ganil alton of the Steel Corporation
1t was brought ont that Chairman
Stanley had advised Representative Little
ton of New York Of the contents Of the
a greement. but that he had not discussed
it with any other member of the committee
MIR Lindaburv again objected TO the in
PRODUCTION of the agreement in evidence
but the ob lection was overruled. Chair
man Stanley proceeded to read the terms
of the instrument.
of the Waterbury company. was asked il
the concern named had ever belonged to
any pool or combination.
We belonged to the Wire Rope Asso.
citation in 1895 and 1905" responded ths
witness
| Handing Mr. Richmond a pamphlet
MIR Stanley asked, DO you recognize
that document
Il do answered the witness. 1t il
my private desk record
DO you know wher. | got that docu
ment?- asked Mr. Stanley
Il do not" replied the witness
1t came TO me through III" mails.
returned Mr.. Stanley
:. This is a confidential schedule o
prices" added Chairman Stanley wit
a grin.
There were a good many pools il
those days" ,neanlng the 80s,. said Nj
I.indabury This applies to one q
them An investigation by the Gran'
, Jury showed that the Steel Corporate
had no responsibility whatever for thi
: particular agreement
Much Of the evidence Of Mr. Richmond
, il appeared was in line with that de
veloped in connection with the indie,
ments Of the wire association in Ne,
, York.
/, J. r Van Ormer OF Coatesvile. Pa
, the secretary of a member OF the Luker
D COMPANY testified emphatically thf
he never made any comment on III
trust agreement" under discussion
, Kaufman declared that Van Orme
told him the agreement if made publi
would result in some one going to jail
:, Il do not like to put Mr. Kaufman in
q hole, but | say positively that ! nev'
u made any such observation to him." sal
:. Mr. Van Ormer.
n The witness testified that the tru
: agreement of November, 1900, nev,
u became effective. as the parties to
e came to the conclusion that it was illega
The copies of the agreement were burne
Under the trust agreement the Lukel
company had y. per cent, of the iron al
, steelbusiness Mr. Van Ormer testlfied IN
" the l.ukens company got this proportic
= Of business and that monthly repor
y of shipments we're made TO " G, Tempt
as provided in the agreement that
n said was abandoned
. VI the trust agreement had hecon
defective. the witness said. Temple woli