The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-07-07
FEAR THAT CARY
PLAN SUCCEEDS
IN BEATING LAW
National Antitrust League
Asks for Immediate Fed
eral Cognizance
EUROPEAN ROYALTY
HAS FINGER IN PIE
If Golden Rule" Organiza-
ton of Steel Succeeds,
it May Find Many
lmitators


date Federal cognizance Of the Gary
international steel trust WAS demands
ed here this afternoon at a hurried
meeting of the executive committee
called to consider the formation OF
the world EN- bracing combine at Brus-
sells
Denouncing Judge Gary's move a.
"a filibustering expedition against tho
Industrial development and pros
perity of the people of the United
States" committee was appointed
to appeal for relief to President Taft.
secretary of State Knox and the
chairman OF the senate and house
committee on foreign affairs.
The far-reaehing Importance Of
this latest and greatest OF trusts, was
Immediately recognized on all sides
Statesmen here OF both parties sss
in the move a daring effort to anuci-
pate impending action against United
States Steel in the way of tariff re-
auctions and possible dissolution.
The president will be asked by tho
Antitrust League to have Amert-
can diplomatic and consular agents
in foreign countries make investfga-
tons, secret and otherwise. to get at
the exact extent of the agreements
covered by the conventions and con-
ferences at which the world steel
institute was born and is to be de-
veloped.
1t rs charged by the Anti-Trust
League, for illustration. that this
Gary steel convention has been made
with the German government among
others and that tho German govern
ment fixes the prices and regulates
the output of the German steel mills.
Emperor William Is a. stakeholder In
the Krupp and other large steel plants
of Germany.
Royalty Mixed Up In 1t.
The late King Edward. OF England.
was a heavy purchaser and owner OF
United States Steel Corporation stock.
He was let in on the ground floor
by J. Pierpont Morgan. SO the story
goes, to enable him TO make great
profits The Antitrust League
wants to know how much of the late
kings holdings are still in possession
OF British royalty; that it may meas
ure the effectiveness against British
competition of the Gary convention.
The German government, in the
event of q reduction OF the tarfn on
ssec,9a pSaaaestss, Mud decline TO az
port steel products to this country
under Gary agreement or "conven-
tion" and the steel trust could mo-
nepoli2s the American market ana
maintain prices as at present.
Hold-Up on Arinor Plate.
The last navy appropriation Dill
authorizing the two new hattteshtpA
carried the Rainey amendment that
armor plate for the ships, could be
purchased in the open market ana
the Stanley amendment that no arma-
ment or parts OF the ships should
be accepted by the secretary OF navy
If they were manufactured by q trust
|or combination in restraint or trade
Should Germany and Great Bri-
tain not export to- this market u
would be impossible to get Armof
plato anywhere else than from the
trust controlled steel mills OF this
country. The price of armor plAfo
ia held at $34o ton by the trust
while a senate investigating commit.
tee. reporting but few years agos
held that the maximum charge should
be $500 per ton.
May Find Initators.
There is also the probability that
the Gary law ctrcumventiye may ma
imitators In other lines of tarin pro-
tected industries. With the tarin waia
Icrumbling 1t Is believed all who have
profited by it will endeavor to make
the best terms they can with possible
|competitors, which would mean aban-
donment Of competition in territory
to be agreed upon. The German gov
eminent is Interested IN all large Ger.
man corporations.
II might not be difficult for the
Standard Oh. the tobacco trust. the
American Wooden Company ana othee
like concerns to secure immunity IRON
German competition tn this country
for q consideration. And whtlo the
Standard OIL and the tobacco trusts
are TO be dissolved under the order
|of the Supreme Court. the dissolution
Will net bring about the competition
desired by those now engaged In re-
DUNG the tariffs to foreign compe1.
tive basis.
Keep Eye on Europe.
President Taft and Secretary KnO1
will be- asked TO let their agents keeD
an eve on business affairs and pros
lceedings In Europe to the end that
the government may receive compiled
reports as to the formation OF inst1-
tutions adapted to lines Of manufAo-
ture other than steel.
| Senator Cullom, chairman Of thu
Senate committee on foreign relations.
/ and Chairman William Sulzer. OF thu
House COMMITTEES on foreikh anairn,
will be urged to take up the matter
with the government authorities and
with Congress to checkmate the Gary
scheme and to enact legfslation pre-
venting adoption Of The Gary plan ~
any other American industry.