The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-11-29
ARE HERE TO STAY
Head of Steel Corporation Says
the United States
Cannot Give Up Big Corpora
lions and Combinations.

Washington, Nov 29.-"The first
great thing is publicity" said Judge
Gary today in suggesting trust RENE
dies to the steel trust investigating
committee. The great corporation
that is compelled to publish it's facts
and figures and to live up to the re-
quirements of the law, will prove a
great thing for the entire country"
Mr.. Gary declared that the United
States cannot give up the big corpor-
alton or the big combination of capl-
tai. They are necessary, he said, II
the United States is to maintain COM
mercial supremacy and industrial
equilibrium and the greatest public
good will be secured by working out
a system of federal control that will
prevent the misuse of the power of
corporations
I'm the last few years." said Mr..
Gary, there has been much in the
management of great business affairs
that was wrong. Many of the great
business men, including, perhaps. my
self had notions concerning the con-
duct of business which should be
changed" He said that corporations
had developed to a point where they
must be curbed to prevent the misuse
of their power. AS a curb for the
trust evil Mr.. Gary offered the fol-
lowing plan:
Federal license of corporations, re-
curing full publicity, preventing over
capitalization and preventing discrim1-
~N--&
"The creation of a corporation com
mission with power to grant, suspend
and revoke federal license subject to
right OF appeal to a court
1.-THE corporation commission to have
power to decide questions submitted
by managers of business offices who de-
sire to avoid illegalities in their ac-
lions; and to regulate prices as far as
necessary to prevent monopoly and re-
Straint of trade.
To Fix Maximum Prices.
For example" said Mr.. Gary. II
prices should be established by trade
agreement or if raw materials such as
cotton or tobacco should be pooled, or
if patents should be used to the public
d etrimeut this commission should be
empowered to establish maximum
prices for the goods thus controlled.
Mr.. Gary said the steel corporation
had been accused of making agree
ments to restrain trade and increase
prices. It had never done more, he
said, than to try to expand trade,
maintain fair prices. steady the mar
ket and prevent wide fluctuations This
had been the purpose of the so-called
Gary dinner and the conferences
among steel men.
But now. with these dinners and con-
ferences mentioned in the government
bill of complaint, filed against US, l am
afraid of mourning public dlspleasure If
do anything to maintain the equilibrium
of prices manufacturers are now selling
below cost and If the situation continues
they will go into bankruptcy
Times Have Changed.
1--WE would not think of doing now he
added. what Mr.. Carnegie and others
would have done twelve years ago ard
would have thought it perfectly right to
do
The witness declared that there can be
no return to unrestrained competition in
the United States without the destruction
of the weaker individuals and companies
by the greater ones. He declared that
publicity was the remedy to accomplish
the most good in regulating the big COM
binations Mr.. Gary said the steel cor
poration had never inflated the price of
steel rails but had maintained the level
of SIS a ton to encourage business stabil-
ity He said he believed this price now
too low and that it should be raised