The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-08-11
Mr.. Perkins Talks Earnestly
of Recent Standard Oil
Decision
STEEL CORPORATION
ONLY ROPE OF SAND4
Chairman Stanley Significant7
ly Remarks Big Trust
May be Disin-
degraded

WASHINGTON, =. c.. August TO-
Declaring that the smashing of ths
Standard on was a red flag and dan-
ger signal to every big corportion
of the steel trust. to-day urged upon
in the country. George w. Perkins.
the Stanley steel investigating com-
mittee the necessity fer radical
changes in the antitrust laws.
This came after Chairman STAN
ley had suggested tho dissolution Of
the steel corporation. which he de-
CARED was only a rope of sand hold
ing together a number of companies.
which. If freed, could Fo ahead in
competing business.
Mr., Perkins vigorously opposed this
suggestion. The steel corporation had
been successful and was operating
within the law. he said. He express-
ed the fiat opinion that corporations
cannot continue successful operation
under the existing laws because they
stand IN fear Of the government exe-
cution OF those laws,
Must Violate Law.
To do business successfully. he de-
clared, IL Is necessary for big cor.
poratious To violate the Sherman law.
N6tt Asts ApttiilEtAkbN Nf1dE
business and financial conditions in
THIS country could be improved If the
Western banks were prevented from
endin their money to New York
during the summer months 10 taxa
advantage of rates of interest and
suddenly recalling it In the fail to
move crops, The abundance of money
In New York. ne said, led 10 specu-
iation and Its recall makes money
tight and high In New York.
Representative Bartlett asked Mr..
ferkins II he agreed with Judge Gary
az To the government control OF cor
poratlons even to the fixing of prices.
\ agree with Judge Gary" said
Mr.. Perkins. that something of a
constructive nature ought TO be done
with reference To the supervision Of
our great corporations AS to Judge
Garys opinion that there should be-
government regulation Of prices, T do
not agree. / would regard that as
the very last resort, and it would be-
much regretted If 1t became neces,
sary.
AS between going to that limit or
70 continue as We are going now, r
would prefer to go to that limit.
Certain II IS that we cannot GO
on as We are now. Our policy is abb
~solutely a~ntagonlstte To that OF Ger@
many"
What is 1t that prevents the steel
corporation, believed To be successful.
from going on as II Isl"
Mr., Perkins nosee,-ts~ hss feet and
talked with great enthusiasm.
Judge, the steel corporation. per-
haps has been successful" he said.
Tue lear We have to-day is based on
thiss e Fsss have. REACHED "a peint IS here's
the executives of cur government in
enforcing the laws made by Congress-.
which they are in honor bound to-
do, are proceeding at this pms to-
dissolve the standard Oil Company.
Danger Flag.
Il hold no brief for the Standard
Oil Company" added Mr.. Perkins.
ana nave no utilization with 1t what
ever. But that action ought to be
q red flag, a danger flag 10 every
other corporation in This country.
The Standard Oil Company Ia a huge
organization. The result of years OF
growth and the United States gov@
eminent has spent thousands of doll
lars of the peoples money to inves-
tigate that corporation, Instead as
trying 10 find out what good it haa
done, what Il has done for labor. in
lowering prices. etc, the government
Is now engaged in breaking it up into
thtrty-three different parts. If that
isn't a notice to other corporations
TO look out I don't know. That is
Why | am opposed 10 any attempt to
break mp, the steel corporation"
Chairman Stanley here expressed
his belief that the steel corporation
should be dissolved and the subsidiary
companies be put into position to
compete.
Rope of Sand.
Isn't 1t true" asked Mr. Stanley.
that the steel corporation is a ropo
of. sand, that IL doesn't own a mill
an acre OF ground. or one material
thing. and the subsidiary companies
have their own corporate entftyH
Counsel for the steel corporation has
refused to give us the minutes OF
.hase Subsidiary cornp anias. for that
very reason"
Richard V. ~Lindahury. steel truse
/ counsel. vigorously denied tina the
steel trust had refused these Minis
utes.
rs 1t necessary in order TO cons
duet large business or organizations
TO conduct them in any way contrary
to the law of 1890, the Sherman
law ?" asked Representative Bartlett.
at most assuredly Is necessary
replied Mr.. Perkins, positively.
The United States Steel Corpora4
ton has observed the law FOR the
past years, has 1t not?"
Yes"
linen why 40 You now ask tnAS
the law be changed"
Mr.. Perkins replied that the chair.
man had just suggested that the steel
corporation might be dissolved. that
he was kesnly alive to the mistakes
that had been made by the steel corr
poration. but believed the United
States government should change fta
laws so that what Is good in the com-
bination might be preserved to the
people.
rs II q fact" Mr.. Bartlett asked
h the Morgan interests and other
financial men Of New York. by reas04
lCsuttnuNd o1 To0Fth ~