Omaha daily bee., 1911-08-11
PERKINS DENOUNCES CHARGE
Says Report that Panic Was Started
to Ruin Bank Is False.
BANKER IS GREATLY EXCITED
He Jumps TO His Feet wheR Asked 40
Trouble OF Four Years Ago Was
Not Intended 20 Hit Ger
tain Interests.

WASHINGTON, Aug. 1O.-George w, Per-
kins, director of the United States Steel
corporation, testifying before the house
steel investigating committee today created
a stir when he jumped TO his feet and
branded as false q charge that the panic OF
1907 has been started to ruin certain banks.
Representative Bartlett asked Mr. Per-
kins whether such was not the case and
the New York financier was on his feet
In a second, saying:
Such a charge is-absolutely false. There
Ia not scintilla of truth IN It,"
The governments separation OF the
Standard Oil company Into thirty three
parts Mr.. Perkins declared, was certainly
q warning to corporations. He suggested
that something should be done to relieve
the present conditions, under which, he
contended, corporations could not continue
to exist.
Judge Bartlett referred to the conspiracy
charge that a group OF bankers started the
panic of 1907 to drive certain bankers out
Of business Mr. Perkins became excited.
He jumped TO his feet. Pounding the table
vigorously with his fist he said:
MY dear Judge. there never was more
Infamous lie started than that There Is
not a scintills OF truth in. IL. You might
Just as well say that q certain group Of
gentlemen made a contract with Mrs;
o'Learys COW to kick over the lamp that
set Chicago on fire"
Favors Constructive Regulation,
II agree with Judge Gary, Nsald Mr., Per
kins, shat something of a constructive
nature ought to be done with reference to
the supervision Of our gfsat' corporations
As 10 Judge Gary's opinion that there
should be government regulations Of prices,
I don't agree.
'"rhe fear we have today is based on this
We have reached a point where tho execuE
tives OF our government IN enforcing the
laws made by congress which they are in
honor bound to do. are proceeding at the
moment to dissolve the Standard OIL COM
pany,
Il hold 20 brief for the STANDARD OIL
company" added Mr.. Perkins, and have
no utilization with It whatever. But that
action ought TO be red flag, a danger flag
to every other corporation In this country
The government has spent thousands Of
dollars OF ths peoples money TO Investigate
that corporation. Instead OF trying TO find
out what good It has done what 1t has
done for labor. in lowering prices, etc, the
government Is now engaged in breaking It
uh INTO lhlFts-tnfeh ulitckeHt Phtl9-
IL that isn't a notice to other corpora
tons 10. look out. ! don't know what is.
That is why am opposed to any effort to
break up the steel corporation"
steel Trust a Rope Of sapa.
Isn't II true" Chairman stanley asked.
that the Steel corporation Is a rope of
sand, that II does not own mill, an acre
OF ground or one material thing, and that
the subsidiary companies have their own
corporate entity? Even the counsel for the
Steel corporation has refused to give US the
minutes Of those subsidiary companies for
that very reason"
Here Mr.. Lindabury, counsel for the cor
poration. made vigorous denial that he had
refused to produce books and minutes.
Mr.. Perkins denied that j. p. Morgan
and company and associate bankers Of New
York absolutely dominated the financial at
fairs OF the United States.