Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-06-30
WIRE TRUST
Receives Attention
Of Uncle Sam.
Nine Indictments Found by
Federal Grand Jury
Al New York CiIy, Charging The
Restraint Of Trade.
Government Claims Violation Of
Sherman Antitrust Law.
Many Prominent individuals Named
Full List Of Companies.
Many Prominent individuals Named
full List Of Companies.

New York. June 29-Nne indict-
ments charging restraint of trade in
violation of the Sherman antitrust
law, We're returned by a federal grand
jury here today against as many as
seeiatiors and long list of 'indlvidu
ais comprising the so-called Wire
trust" affiliated with the steel indus
try. Prominent among the defendants
are Herbert l.. Satterlee, a son-in-law
of J. Pierpont Morgan, and Vim. T
Palmer, president of the American
Steel and Wire Co, a subsidiary of the
United States Steel Corporation, and
Frank Jay Gould of New York. pres
ident of the Old Dominion Iron and
Nail Works Co.
What this suit charges" said Dis
triet Attorney Wise, is a trade agree
ment in restraint of trade. The gov
eminent does not seek to establish
physical merger of properties or inter
ests. but a series of pools to maintain
prices and apportion territory, in elim-
ination Of competition, and so in viola
ton of the Sherman act. This suit ap-
pears as a further earnestness Of the
governments determination to deal
vigorously With restrictive trade agree
ments rs well as with more closely
knit corporate mergers. The suit
against the periodical clearing house
this week and against the box and pa
per manufacturers earlier, are cases
in point There is no indication. how
ever, that evidence gathered by the
bureau of corporations in its inVesu-
CATION Of the Steel Corporation played
any part in the indictments. Only two
of the subsidiary companies OF the
United States Steel Corporation are
mentioned-namely, the American Steel
and Wire Co, and the Trenton Iron
Co. The American Steel and Wire Co,
however is mentioned in the indict-
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 de
PENDANTS and full list of the asso-
Citations in which they are members
fellows:
NEUTRALITY-SUSPICIOUS. ]. Gould president
of the Old Dominion Iron and Nail Works
Bello Isle. Richmond, Va. Herbert l.
Satterlee. president of the Habirshaw Wire
Co. Yonxers y. y. William P. Palmer
president of the American Steel and Wire
Co. Waukeegan. Ills, and Worcester Mass
Charles F. BROKER, vice president on An
sonia Brass and Copper Co.. Ansouta, Conn
and member from Connecticut Of the
Republican National committee; Harry L
S-oddard pre- sident OF the Trenton Iron
Co. Treaton. Y. j., Erskine Hewitt vice
president of the Trenton Iron Co. Frank
n Phillips. president of the American
Electrical Works. Phillipsdaie, R J., Fer
dinand Roebling president of John
Roebling sons Co. Trenton, and Roeblins
n. y. Philip H. w Smith, End vice pres
ident of the STANDARD Underground Gable
Co. Pitt~burg, Pa. Oakland, Calf, and
Perthamboy, y. !.
Associations Horse Shoe Manufae
turers Association. Wn F. Palmer and
others The Bar Wire Copper Associa
tion. Win. Palmer and others, The Weafh
erproof and Wire Magnet Association. Vim.
p Palmer and others The Lead Encnaed
Rubber Gable Association, VIM. r. Palm
err and others The Wire Rope Manusae-
turers Association. Edwin e. .Iackion. Jr.,
| and others The Fine Magnet Wire a.
ISOLATION. Ferdinand w. Roebling and
others Inc tnUtFEIouHu to"eE tdol'
| Association. Philip II. W. Smith and others
| The Telephone Gable Association. Frank y.
Phillips and others The Rubber Covered
| Wire Associations, VIM 2. Palmer and
| others.
Among companies named as members
of the alleged associations or pools"
are:
The Rubber Covered Wire Association,
New York Insulated Wire Co, Waling
ford. ct: National Rubber Co, Bristol
r. l.; Phillips Insulated Wire Co. Paw
tucket, r. l.; General Electric Co., Schen-
ectady, n. Y.
Fine Magnet Wire ACKNOWLEDGEMENTS
KYLE. doing business under the name Of
Bradford, Kyle & Co, Plymouth, Mass.
| Ansonia Electrical Co., New England
Electrical Works, Lisbon n. II.
| Weatherproof and Wire Magnet Asso-
ciation-Ansonia Brass and Copper Co;
Ansonia Electrical Co., Benedict & Bur
ham Mfg. Co.
Horse Shoe Manufacturers Association
Rhode Island-Perkins Horse Shoe, Val
ley Falls, r. l.
The general charges in all the in
Idictments are the same, allowing for
1 the difference of the business in which
the defendants were engaged. 1t is
Continued on Page TWelve)