The searchlight. [volume] (Culbertson, Mont.) 1902-current, 1911-07-07
.|NDICT COMBINE
CHARGED WITH FORMING POOLS
TO RESTRAIN TRADE AND
CONTROL PRICES.
Nine WIRE ASSOCIATIONS
Frank Gould and satterIee, Morean's
eon-in-law, Among Accused
Steel Trust Not impIi-
Gated,

| New York, July !. - Nine indict.
nents charging restraint Of trade in
violation Of the Sherman antitrust
law were returned by a federal grand
Jury here against as many associa-
tons and a long list OF individuals
comprising the so-called wire trust"
amliated with the steel industry.
Prominent among the defendants are
Herbert L. Satterlee, q son-in-law Of
j. Pierpont Morgan, William p. Pal
mer. president of the American Steel
Z Wire Company, a 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
he Trenton Iron Company. The
/ however, is mentioned in the indict.
/ ments against seven of the associa-
/ lions. In the indictments against the
/ Telephone Cable association and the
/ Fine Magnet Wire association, 1t is
| 1ot 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 & Nail Works,
Belle Isle. Richmond. Va.
/ Herbert l.. Satterlee. president of
lie Habirshaw Wire Company, Yonk-
.rs. N. Y.
William p. Palmer. president Of the
American Steel & Wire Company,
Waukegan, Ill. and Worcester. Mass.
/ Charles F. Brooker. vice president
If the Ansonia Brass & Copper Com
2any. Ansonia. Conn, and member
from Connecticut of the Republican
rational committee.
Harry G. StOddard, president of the
Trenton Iron Company, Trenton, n.
Erskine Hewlett. vice president of
he Trenton Iron Company.
Frank n. Philips, president of the
American Electrical Works, Philips
tale. X. I.
/ Ferdinand w. Roebling. president of
John A. Roebling's Sons Company,
Trenton and Roebling, n. J.
Philip w. II. 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.
srs.
Bare Wire Copper Association, Will
am =. Palmer and others.
Weatherproof & Wire Magnet Asso-
cation, William p. Palmer and others
Lead Encased Rubber Cable Asso.
cation, William p. Palmer and others.
Wire Rope Manufacturers Associa.
lion, Edwin. +. Jackson, Jr., and 9th.
srs.
Fine Magnet Wire Association, Fer.
iinand W. Roebling and others.
Underground Power Cable Associa-
ton. Philip II. w. Smith. and others.
Telephone Cable Association. Frank
\. Phillips and others.
Rubber Covered Wire Association.
William p. Palmer and others.
II 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, ii is charged. by the ratio
Of output for an agreed time; each
member was obligated to pay $1,000
or less into a fund called the gen.
sral deposit" and in case any member
Jailed TO abide by the regulations his
deposit was forfeited.
Raw materials were bought at ar
oitrary and non-competitiye 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 unlawful
conspiracy herein described"
In the indictment against the Bare
Copper Wire Association. 1t is charged
that the corporations forming the as.
ISOLATION produced 95 per cent Of the
entire bare copper wire consumed in
the United States and that they had
absolute control Of the price.
Upon conviction each of the defend.
ants is liable to not more than a
years Imprisonment. or a fine OF S.
900. or both.
In the indictments neither the
American Steel 4 Wire Company nor
the John A. Roebling's Sons Com.
pany. also known as the Trenton Iron
Works. are designated as belonging
10 the United States Steel Corpora.
ton.