The Detroit times., 1911-01-17
INDUSTRIAL KING
ONCE FARM BOY
Judge e. II. Gary, Head Of the Steel
Trust, Sounds Keynote Of Cor
porste Publicity.

NEW YORK, Jan. lG.-From farm
er's boy al so cents per day TO chair
man OF the Billion Dollar Steel Trust
at 100000 per year. with an esti-
mated fortune OF $25.o00.000. is lar
cry, yet that represents the activities
OF Judge Ebert III. Gary. dominant
factor in the steel industry today and
representative of the all-powerful Nor
gan interests, says the World. No
chapter OF the romance of hard-head-
ed American success Is more illus
trative OF the opportunities IN the re-
public than the rise OF Gary TO the
headship OF the greatest industrial
trust Of them all.
Back of the deposition of William
Ellis Corey as president or the United
States Steel Corporation, lies story
OF battle between financial giants
without parallel in the chronicle OF
American monopolies.
The fight has been Morgan and
Gary against Rockefeller and Car
negie, and the Morgan interests have
triumphed, won out in struggle
where no quarter was asked or given
and where the ultimate results have
significance of worldwide interest
both TO capital and labor.
Corey, the Final Sacrifice.
The fina, chapter OF the elimination
of Rockefeller and the Standard Oil
interests and Andrew Carnegie, the
ironmaster and philanthropist, from
further influence in United States
Steel was written in the announce
ment by Gary that Corey was to go.
Corey is the final victim laid upon the
sacrficial altar OF Steel TO indicate
the passing of the old regime and the
apparently impregnable placing OF the
new.
Vast significance lies i'm the grip
ping of Steel Trust dominance by the
whilom Illinois farmers boy. In that
policy slowly forming and now
chysrallized in Gray's headship, In the
opinion OF financial experts. will here
after have a profound effect upon In
dustrlal monopoly in the United
States at least.
Within the week Judge Gary an
nounced to 2 representative OF the
defined Capitalization, and full and
free publicly will be cardinal policies
of United States Steel With the pub
licity that protects the small investor
from the inside manipulation or mil
;ionaires, Wallst. believes that the
policy declared 10 be that or United
States Steel will sound the death
knell of corporations that try to cover
up their deals in a policy OF silence.
Absolute fairness III publicity is
now NECESSARY on the part OF all cor
porations," said Judge Gary, in order
to secure the confidence of the public,
The success OF the United States Steel
CORPORATION depends upon Its Wiling
ness TO take the shareholders and the
public into its confidence and thai
| full and periodical statements or earn
| ings. orders on hand, complete and
thorough balance sheets and full an
nual reports giving all details and he
/ yelopments are necessary 10 accom-
plish this desired end.
Declares For Corporate Honesty.
THE day of secret agreements Il
mast" continued Judge Gary. 'Insld
ers have 10 right TO advance infor
nation regarding corporate move
ments | know that some capitaiists
oppose this belief. but | am profound
| w certain that honesty is not only the
best policy in corporate matters pu'
that II is the only policy both IRON
ethical and economic viewpoints
The thousands of small investors IN
United States Steel have the right
with the public to know what is hap
pening higher up, and they shall know
as long as have any influence In TINS
corporation"
And Judge Gary is more than con
! sentative in business. He has de
clarod himself to be "a conservative
optimist," looking on the best side o.
things but not closing his eyes TO ae
tual conditions.
~ believe that we have a hopeful
future in this country" he SAID re
Gently II know that we have hao
one of our best years in the makins
nj ingots and rails. The past quarter
will show a business of $30.00O,OOO
which. while not one of our best quar-
ters by any means, indicates that BUS
mess is stable and progressing.
81 wish now to take issue with
Those men who express their belief
that 1911 is to be bad" year. do
not believe il. Conditions to my
mind seem sound, and I can see no
cause for alarm. This country rs TOO
full of latent resources TO ever stag
ger along under industrial depres'
sion"
These views are given to show what
manner OF man represents the vast
Morgan interests in the multifarious
steel making business.