Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1911-07-25
AGREEMENT
Of STEEL men
IS ON RECORD
Chairman Stanley Of House
Committee Introduces a
Document Showing Posi-
tion of Plate Association.
EVIDENCE IS
STRONGLY OPPOSED

EVIDENCE IS
STRONGLY OPPOSED
Attorney for the Companies
States That His Clients
Know Nothing Of the Doc
ument-Gives Information.
Washington, D. c., July 24.--When
the house steel trust committee re-
ssumed it's session today Chairman
Stanley put in the record copy of
the iron clad agreement by which the
Steel Plate association of the United
States was entered into November 8,
1900. The agreement has been in pos
session of Chairman Stanley for some
time and number of witnesses have
been questioned regarding it, Eleven
great steel companies entered into the
agreement and apportioned among
themselves all shipments Of steel
plates.
The steel company that dared viO-
late the agreement laid itself liable to
heavy penalties and it Is said that
fines of $1,000 frequently were i'm
posed on members of the combination
when complaints were filed with the
executive committee. Each firm was
required to make monthly sworn state
ments> relating to shipments, rolling,
ETC., and any member who
shipped : more than his apportioned
amount was required to pay a penalty
on each pound of such excess, the
money thus collected being appor-
toned among the members who did
not ship td their allotted share
The agFi iement- showed the follow
ing apportionment of shipments al
lowable by the various companies,
parties to the agreement:
Carnegie Steel company, 1926 per
cent; Jones & Laughlin, 4.75 per cent;
Illinois Steel company, II per cent;
Crucible Steel Company of America,
4.50 per. cent; Otis Steel company.
ESQ per cent; Tidewater Steel COM
pany. 800 per cent; Luken Iron and
Steel company, 7.50 per cent; Worth
Brothers company, per cent; Cen
trail Iron and Steel company, per
cent; American Steel and Wire com
pany, $50 per cent Glasgow Iron
to 10000 tons, should they be able to
accomplish that, prior to December
81, 1901.
Debts of members of the association
were required to be paid by check
drawn to the order Of T. Mellon and
Sons, Pittsburg. to the credit OF the
The agreement included
exemption tonnage provisions and at
the end of each year the commissioner
Of the association balanced the pool
between the members, but any mem
ber unable to produce his full allott.
ment at the end of the year forfeited
such unproduced tonnage which was
divided pro rata among other members
of the pool.
Must Report All Goods.
Another provision of the agreement
'equiring that all plate shipped into
he states bordering on the Pacific
coast. and to be actually used in the ter
'itory into which 1t Is shipped, and also
Ill plates actually exported for use out |
side the limits of the United States, |
,e reported to commissioner together |
With bills Of lading. or other evidence !
If expectation, for actual use abroad,
to him (said evidence to |
he confidential al. not to be circulated |
lmong members) such tonnage was to |
,e deducted from the members report |
md the agreed pool tax charged.
The agreement also bound the mem |
,ers to make, sales between parties to |
he agreement at pool prices.
To insure rendering of statements |
md faithful adherence of each party /
o the terms of the agreement, guar
.ntee fund of 100000 was provided by
payment of $1,000 in each percent Of
lllottment.
Eugene c. Bonniwell of Wayne, Pa.
lawyer told the committee today Of I
having seen the agreement and how
le induced F. B. Kaufman of Coats
lille, Pa, publisher. to procure a /
.opy of it for the steel committee.
Richard Lindabury, counsel for the
United States Steel corporation, pro-
ested against the Introduction OF the
opy of the steel plate association
greement.
Republican members demanded to
now If the chairman had attempted
o get the original agreement. He !,
aid he had. Counsel Lindabury said
hat the secretary Of the United States
teel corporation was subpoenaed Sat
rday to produce the original copy OF
he agreement.
1--WE have not got such an agree
nent in any OF our files and cannot /
roduce it and have nothing to do with /
t." said Mr.. Lindabury. Eve deny
ii knowledge of it.. and feel that all :
ught to be TO connected with it In !
his record. particularly as this is an
character and there is
lothing to indicate it's authenticity.