The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1911-06-09
ANTITRUST
WRONG
Judge Gary Tells House Commit.
tee Sherman Bill Should
Undergo Changes.
SHOULD PERMIT OF
BUSINESS PROGRESS
Insists TO Investigators That Steel
Men Did Not Have Unlawful
Price Agreement.

WASHINGTON. d. C.. June s.
Legislation TO replace the sherman
antitrust law. so as TO protect prop
erty interests and the peoples welfare
alike was urged by Ebert II. Gary,
chairman OF the board OF directors OF
the United States steel Corporation
in concluding his testimony today be
fore the House so-called steel Trust"
investigating committee.
Il wish said he. that this commit.
tee will take advantage OF its oppor.
tunity to suggest legislation and use
its influence to bring about the enact
ment of proper legislation calculated
TO properly protect the property in.
terests of the country. the interests Of
the government and the people at
large. so as TO permit us TO continue
business progress along lines OF pros
perity.
Constructive legislation is what ia
needed in this country n we are 10
retain our position in the ranks with
competing nations OF the world
FaVors Federal Hearing.
Would You believe IL sensible"
asked Representative Iittleton. ito
have Congress appoint joint commit
tee to hear representatives OF capital
and Of labor and of socalled re-
strained and unrestrained trade, with
view 10 preparing an antitrust law
which would be to correct features of
the sherman law or errors that might
have come through court decisions on
that law, and 10 strengthen and elabo-
rate that law"
Yes. ! do responded Mr. Gary,
and would be glad to have such an
undertaking result in something more
practical and TO be the first one TO fall
into line to live mp TO such law"
The so-called Gary dinners" where
steel men OF the country acquainted
each other with all facts relating to
their business and suggested the main
tenance OF prices TO prevent 'destrTict,
i've competition" were delyed into by
] the committee. Representative Beall
sought to show that the result OF
those understandings was tantamount
20 signed agreement 20 control
I prices. a violation OF the Sherman
antitrust law.
Favor Disclosures.
Il have stated repeatedly" said Mr.
Gary. that ] believed and all of-us
IN the steel business believed. that
open and frank disclosures 20 each
other OF our business conditions and
suggestions as the best interests OF
all brought about an equilibrium I'm
the trade and prevented destructive
competition
The only question involved in
those dinners is whether 10 Is good
morals 20 endeavor by friendly inter
course. such as has been described by
me. 20 maintain 20 reasonable ex-
I o..
prevent destructive competition
IF the department OF justice or the
President should say that this Is not
the right thing 20 DO. 90 would not be
continued for one minute
places Trade Responsibility
IT the members Of this COMMITTEES
believe i' is better for all concerned
in this country FOR the steel interests
90 enter into destructive competition
than 20 try 10 leRa1v maintain an
equilibrium of business. 70 is up 70
yOu
"lf you want % take the response
/ biiity on behalf OF the government OF
saying destruction would be better
than Tor the steel interest 70 confer
with each other. and for the main
teuance of ruinous policies whereby
the strongest would survive. tho weak
esf go down and business generally be
domoralized. We viii not oppose your
action. buf We believe that we have
done the best thing We could do under
tho law through the maintenance or
friendly relations"
did you NOT mean 20 accomplish
The same result through YOUR friendly
/ Interchange ~ ideas 90 the Gary din
ncrs. aR would have bccn accomplish
cd hv an Illegal agreement 20 control
prices asked Representative Beali
Nr Gary replied that this was not
so in his opinion. that whatever had
been done uus LEGAL and that men
Who attended those meetings wera
icf' entirely FREQ fo d1 as fhey pleased.
CContiuusd on Third ParsJ