The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-06-02
Controls Over One Half.

S9fttFntS NARr tsfa'~iIAI.
Gary said that at the present tifue
he thought the United States Stee,
Corporation controlled rather more
than SO per cent OF the present
asaiia BILE property. He asserted that
his company did not make armor
plate, and professed ignorance OF IA
statement ly Stanley that the Sec
retary OF the Navy had sent re-
port 10 Congress declaring that there
was absolutely no competition In the
armor plate business"
Stanley read part of Gary's testi-
mons before the ways and means
committe In 1908. where he asserted
that the steel corporation practical
~ had control of the ultimate sup.
ply of ore
AT that time" Gary said. Il be-
heve the United States Steel Corpora
ton had control of about sixty FIVE
or seventy per cent. of the best ores
IN the Northwest believed that
the ores which the others had would
be exhausted before those In con-
troll Of the corporation. II SO, the
time would come when We would
haze sststac-ess .ssss -sfse ultimate supply
Then the other companies would he
compelled tn use ore which is now
not even merchan,able,"
=
pressed any opinion as to the duty
on ore. As to the ownership of the
ore fields Stanley questioned the wit
ness In detail. Regarding the ver-
million range In Minnesota, Gary said
: sys' s4aas n 7ssff.es.sar.' III tfIe railroad
which formed the outlet and as
serted that none of this ore was sold
TO independents.
Gary asserted that the steel cor
poration could keep the prices down.
hut couldn't keep them up" He
said that the corporation could not
sell rails for less than sas a ton.
Stanley then passed to the export BUSH
ness
Times When Price Is Dull.
There are some times" Gary said.
when we will dump rails on foreign
markets at less than cost, II IL just
like merchant clearing out stock.
If he could sell rails abroad Mt <as
ton or at cost ali the time, we
could keep our rail factories running
all the time. and we could reduce the
average cost of manufacture. Some
years we do sell for export at prices
somewhat less than cost with the re-
suit that we can sell here nj cheaper
rates. This does NOT result In anv
disaster to American purchasers. on
the other hand II Is to his benefit be-
cause he gets rails cheaper
What Is the price you get In
those countries where they don't have.
the heneficent Office of these inter-
national institutes. where that unfor
tunate condition exists that there il
no agreement as TO prices," Stanley
asked.
There Is nd country except the
United States where there isn't an
agreement as to prices" Gary an
swered
isn't there some understan ding
between manufacturers In Great Brit
ain and the United strfes whereby
you agree not to interfere with their
husiness?" he was asked
"Oh, no, except such as results from
our keeping each other informed"
There Is no iron-ciad agreement
me"
What is the difference in cost be-
tween .traile I'm Great = rita in and Z
confftties where this f1lurna>f agree
ment between gentlemen does not APP
ply - E.
II don't accept your understand
ing Of mutual agreement"
Well just that mutual suggestion
amended Stanley.
Gary said he didn't know exactIv
He explained that in Belgium and
Germany the laws permitted united
price agreement.
would there be a difference in
price Of 81 ton in countries where
these agreements are the rule and
here?. asked Stanley. 9s-
'Oh. I don't think So. replied
Gary,
Government Control Essential,
Absolute governments control and
supervision Of great combinations az