Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1911-07-06
.IND|CT COMBINE
CHARGED WITH FORMING POOLS
TO RESTRAIN TRADE AND
CONTROL PRICES.
nine WIRE ASSOCIATIONS
Frank Gould and satterIee, inorganic
Son-in-Law, Among Accused
Steel Trust Not lmpii-
Gated,

New York, N. Y. = Nine indict-
ments charging restraint of trade in
violation of the Sherman antitrust
law were returned by federal grand
jury here against as many associa-
lions and long list of individuals
comprising the so-called wire trust
affiliated with the steel industry.
Prominent among the defendants are
Herbert L. Satterlee, d son-iii-law OF
j. Pierpont Morgan; William p. Pal
mer, president of the American Steel
& Wire Company, subsidiary of the
United States Steel corporation, and
Frank Jay Gould of New York, presi-
dent of the Old Dominion Iron & Nail
Works Company
Only two of the subsidiary COM
panies of the United States Steel cor
poration are mentioned, namely, the
American Steel & Wire Company and
American Steel & Wire Company,
however, is mentioned in the indict-
ments against seven of the associa-
tons. In the indictments against the
Telephone Gable association and the
Fine Magnet Wire association, it is
not mentioned.
The most prominent individual
defendants and a full list of the as
sociations in which they are members
follows:
Individuals Indicted.
Frank j. Gould, president of the
Old Dominion Iron G Nail Works,
Belle Isle, Richmond, Va
Herbert L. Satterlee, president Of
tie Habirshaw Wire Company. Yonk-
ers, N. Y.
William P. Palmer, president of the
American Steel & Wire Company.
Waukegan, ILL.,, and Worcester, Mass.
Charles F. BROKER, vice president
of the Ansonia Brass & Copper Com
pany, Ansonia. Conn, and member
from Connecticut of the Republican
national committee.
Harry G. Stoddard, president of the
Trenton Iron Company, Trenton, N.
Erskine Hewlett, vice president Of
the Trenton Iron Company
Frank n. Philips, president Of the
American Electrical Works, Philips
dale, R. I.
Ferdinand w. Roebling president of
John A. Roebling's Sons Company,
Trenton and Roebling, N. j.
Philip w. H. Smith, second vice
president of the Standard Under
ground Cable Company, Pittsburg, Pa,
Oakland, Cal, and Perth Amboy, N. j.
Associations Indicted.
The Horseshoe Manufacturers AS
ISOLATION, William P. Palmer and 9TH
ers.
Bare Wire Copper Association, Will
lam P. Palmer and others.
Weatherproof & Wire Magnet Asso-
citation, William P. Palmer and others.
Lead Encased Rubber Gable Asso-
citation, William P. Palmer and others.
Wire Rope Manufacturers Associa-
ton, Edwin, e. Jackson, Jr, and 9TH
ers.
Fine Magnet Wire Association. Fer.
dinand w. Roebling and others.
UNDERGROUND Power Cable Assec;a-
ton, Philip H. w. Smith, and others.
Telephone Cable Association. Frank
N. Phillips and Others
Rubber Covered Wire Association.
William P. Palmer and others.
1t is set forth that the various as
sociations organized under their as
ISOLATION names and each selected a
supervisor and adopted rules and reg
ulations. An arbitrary rating was
determined, it is charged, by the ratio
OF output for an agreed time; each
member was obligated to pay $4,000
or less into fund called .the gem
eral deposit and in case any member
failed to abide by the regulations his
deposit was forfeited.
Raw materials were bought at ear
bitrary and non-competitive prices to-
be agreed upon by said defendants,
being prices lower than those for
which the respective corporations,
would be enabled to purchase said
raw materials but for the unlawfrrsssis.s
conspiracy herein described"
In the indictment against the w
Copper Wire Association, it is oh
that the corporations forming tt
ISOLATION produced 50 per cent O
entire bare copper wire consumer
the United States and that they j
absolute control of the price.
Upon conviction each of the defenI
ants is liable to not more than
years Imprisonment. or fine of So. =.
600, or both.
In the indictments neither the
american Steel & Wire Company nor
the John A. Roeblings Sons Com
pany, also known as the Trenton Iron
Works. are designated as belonging
to the United States Steel Corpora