Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1911-06-03
Chairman of Steel Board Of
Directors Declares sher-
man Law Cannot Deal
With Modern Combines.
SAYS GOVERNMENT
SHOULD FIX PRICES
Declares Corporation Only
Wants to Know Where it
Stands That it May Pro-
ceed Without Criticism.

~ SSAASAO M xIxNxE9xxla n
Washington. d. c., June 2-Elbert
n. Gary, chief executive officer Of the
United States steel corporation. re-
sum1ng his testimony before the
mouse steel trust investigation COM
mlttee today, denounced the Sherman
anti-Iust law as archaic and declared
tnat governmental control OF corpora
tions eventually would come.
Mr. Gary asserted that the steel cor.
poration would welcome such change
and would be glad II the government
would 90 so far as to direct the price
of products.
In explanation Of the reported world
wide trust, Mr.. Gary said that a con-
ference would be held In Brussels.
July and 6, next, to organize an inter.
national steel institute similar to the
American iron and steel institution.
In no instance, Mr.. Gary said, had
there been tiny attempt at an. unlaw-
ful or an expressed or implied agree
ment.
Mr.. Gary also declared that en-
m1ttee. Mr.. Gary declared that en-
forced publicity and governmental
control of corporations must come.
even as to prices. He said he be-
lieyed the Sherman anti-trust l1w Was
too archaic to deal with the modern
situation and never could fully pre-
vent great combinations Of capital.
What the U. s. Steel corporation
wanted he said was some responsible
and official department of government
to whom 1t could go and say what
prices can we charge and just what
can we do"
Favors Government Control.
Personally / believe the Sherman
act" said Mr.. Gary. docs not now and
never will fully prevent the organiz-
ing of great combinations OF capital.
! believe we must come to enforced
publicity and governmental control OF
corporations"
DO you mean government control
even as to prices?" Mr.. Stanley asked.
Yes. even as to prices. So far 1
am concerned, speaking for the U. s.
Steel corporation, would be very glad
If we could know exactly where we
stand and could be free from the dan
gers and criticism of the public.
wish we could go to some responsible
governmental source and say here
are our facts, here is our business,
here is our property and our cost OF
production and could be told just
what prices we could charge and Just
what we could do.
"Mr. Gary said the real problem was
not the making of big profits but 1t
was rather the establishment of def
mite understanding Of the legal situa-
ton.
"Do understand that you believe In
strict governmental supervision OF
corporations?" asked Representative
Littleton of New York.
Eyes, do know that Is a radical
position, but something must be done"
said Mr.. Gary.
rs it your conviction" Mr.. Littleton
asked, that the Sherman antitrust
law is archaic, and unable to deal with
the modern situation?"
Eyes"
do not the Interpretations Of that
law practically order continuance OF
the old competitive system as opposed
to cooperative modern methodist"
II am afraid they do" Mr.. Gary re-
Piled. 1--WE do not want condition
OF uncertainty in which we do not
know what we have a right to do"
Representative Young Of Michigan !,
asked Mr.. Gary II he thought the ma
tional government had right to AZ
prices of commodities In interstate
commerce.
"My opinion" said Mr.. Gary, ''is that
SO far as 1t relates to interstate COM
merce the federal government has that
right
Mr.. Gary, asked II the U. s. Steel
was in position to fix
prices, said that cooperative business
methods which had succeeded high
methods. had made 1t pos
sible for the big corporations to In
fuence prices.
1--WE cannot dominate them" he said.
TT is not the big corporations that
charge prices SO much as the small
corporations that cut prices and force
the big ones to come down.
Increased prices are to be charged
for steel rails In the near future, ac-
cording to Mr.. Gary. Higher cost Of
labor and raw material, together with
a demand for heavier rails was given
ss the reason for the proposed advance.
Representative A. P. Gardner OF
Massachusetts today was elected to
the special "steel trust" investigating
committee Of the house