The Birmingham age-herald., 1911-08-04
Sold His T. c. I. Stock in 1907 to Befriend
 Schley
PRICES NOT FIXED
 AT GARY DINNERS"
Purpose of Dinners Was to Discuss Sociological and Technical Ques-
 tions Concerning Steel and
 Iron Industry

New York, August S.-John A. Top ping, chairman of the board Of directors of the Republic Iron and Steel company which recently cut prices on steel pro duets, told the House committee Of 1n- oriry into the affairs of the United States Steel corporation today that no agree ment to maintain prices existed between the Steel corporation and independent companies.
 MT. Topping was led into discussion of the so-called Gary dinners where steel men assembled to discuss the trade and his attention called to the fact that he had not attended a Gary dinner Just after the Republic company cut prices last May. MT. Topping said he did not krow whether he had been sighted be- cause the company slashed the price. Before going into the steel price ques- ton Mir. Topping, who formerly was 8 member of the Tennessee Coal and Iron company syndicate, told the committee that at the time of the transfer Of the Tennessee company to the United states Steel corporation he had not wanted to sell his stock, but did so out of friend slip for Grant B. Schley.
 MT. Topping also discussed the control of ore freight shipping from the Su- perior region to Pittsburg by the United States Steel corporation. The rates he declared were excessive and he predicted that increasing strength of independent steel concerns eventually would force a change.
 In response to questions by Represent atiye Bartlett of Georgia regarding steel price agreements, MT. Topping said he had not recognized any golden rule' of prices such as have been talked about since Judge Gary inaugurated his ban quets.
 DO you know of the existence of an agreemnt to maintain level of prices as to steel rails and other products?" asked MT. Bartlett.
 .I do not said MT. Topping.
 when did the Republic Iron and Steel company begin to cut prices?" Nil. Bart iett continued.
 Cut in May
 "I think it was last may
 You know about the Gary dinners?" Mir Bartlett continued. Were they not 10 discuss prices and gentlemen's agreements?"
 IT would not so chara cterize them
  public's price cut, there was another Gary luncheon to which you were not invited Were you persona non grata?' q think not. We still speak as we rass by" MT. Topping answered.
 The purpose of the Gary dinners, MT. Topping said, was general desire on the part of steel men to discuss sociological. technical and other ques- tions of mutual advantage.
 Wasn't any such sordid subject as prices ever talked about?"
 Not specifically. In general way perhaps"
 Were not the men who attended the dinners put on their honor to main tain prices?"
 T think no one was bound to do anything more than to look out for the best interests of his own business"
 Chairman Stanley asked the witness if he had been invited to attend the in ternational conference of steel manu- facturerers al Brussels last July. lie said he had, but declined. This was be- fore the Republic cut prices.
 Did you notify Judge Gary of the Republics intention to cut steel prices?"
 Notified Gary
 T think did notify him."
 "Why?"
 "Oh, it wasn't necessary to do so Mir Topping replied. T told him as n matter of course. There was no req son to conceal 1t"
 Chaisman Stanley read comments in a German Iron journal the Brussels conference which charged that Amer ican steel men were attempting to in- troduce American trust methods 70 control steel prices of the world.
 Do you believe as a practical busi- ness man." MT. Stanley then asked, that this effort made in Brussels to fix a ha yi "a parliaments of Europe as price fixing has escaped here and that this Amer tcan institution can be fastened on the rest of the world?"
 T doubt it very much" said Mir Top ping, ''even if it were practical
 Ecpr esentative Sterling, following a rev eiatiop that steel consumers in Chicago are charged the Pittsburg price plus the freight rate from Pittsburg to Chicago on products made in Chicago plants ask cd Mr. Topping if he thought it proper for the interstate commerce commission to put Pittsburg and Chicago on the same plane with reference to ore freight rates. T think 1t proper MT. Topping said, flor the commission to make a rate based on fair profit per ton mile.'' Charles M Schwab, president of the Bethlehem Steel company, and former president of the United States Steel cor poration, has been summoned to testify tomorrow
 Late today the committee held an ex- ecutive session with Richard V. Lind bury. counsel for the United States Steel corporetion.s regarding subpoenas duces te7uin. which have been issued for Richard lrsmbe, secretary of the Steel corpora ton. will produce documents and cost sheets relating to the corporations af- Fairs. A difference between the commit- tee and the corporation has arisen over the production of the original cost sheets. The corporation regards the sheets as secret nformat tion, which, if made public, would prove of advantage to competitors. II has agHeed to submit eptome of cost II has taken from the cost sheets. If ttese do not prove to be what the com niittee desires, a demand for the cost sheets will be made and this may throw the matter into the courts. he cost Sheets were submitted to the bureau of corporations when it made its Investigation, but they returned. The House committee has been unable to get access to the bureaus information ] because the full report has not yet been made public and under the law the com missioner of corporations will not dvulse the information unless authorized to do SO by the President. The committee therefore has decided to seek the informa- tlon Independently.