The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1911-06-09
az COlE1l2TZLE WHICH 3 INVESTIGATING ;

Upper picture-StanIey investigation
committee; left to right: Representa-
tives OIin Young of Michigan, Charles
L. Bartlett Of Georgia; A. o. Stanley
Of kentucky (ohairman), Jack BeaIi of
| Texas, M. w. littleton of New York,
and D. J. MeGillicuddy Of Maine.
Lower picture-Officers of the steel
corporation, left to right: Norman 3.
Roam, Judge e. n. Gary, Pereival
Roberts and Robert Lindberry.
Washington. June S.-Legislatlon to
replace the Sherman antitrust law to
protect property interests and the peo-
pies welfare alike was urged by Ell
bert II. Gary, chairman of the board
of directors of the United States Steel
corporation, in concluding his testi-
mony today before the house so-called
steel trust investigating committee.
Judge Gary said he hoped the COM
mittee In its report would give the
United States Steel corporation what
the committee thinks ought to be the
corporations standing under the law.
Il WISH" said he. that this commit
tee would take advantage of its OPP
portunity to suggest legislation and
use Its influence to bring about the en-
actment OF proper legislation calculat-
ed to protect the property interests OF
the country. the interests OF the gov
ernment and of the people at large, so
as to permit US to continue business
progress along lines of prosperity"
Joint Committee.
Would you believe 1t sensible"
asked Representative Littleton, ITO
have congress appoint joint committee
to hear representatives of capital and
labor and of so-called restrained and
unrestrained trade with view to pre-
pairing an antitrust law which would
correct features of the Sherman law or
errors that might have come through
court decisions on that law. and to
strengthen and elaborate that law"
"Yes, | do responded Mr. Gary,
"and would be glad To have such an
understanding result in something
more practical and to be the first one
to fall into line to live up to such a
law"
The so-called Gary dinners" where
steel men acquaint each other with
idstS IEidiihS W ii'h ah'
suggest the maintenance of prices to
prevent obstructive competition"
were delved into by the committee.
Representative Beall sought to show
that the result OF those understandings
was tantamount to signed agreement
to control prces-a violation OF the
Sherman antitrust law.
II have said repeatedly" said Mr..
Gary, that ! believed and all of us in
the steel business believe, that open
and frank disclosures to each other of
our business conditions and sugges-
tions as to the best interests of all
brought about an equilibrium in trade
and prevented destructive competition.
The Only Question.
"fhe only question involved In these
dinners Is whether it is good law or
good morals to endeayor by friendly
intercourse, such as has been described
by me, to maintain to a reasonable
extent an equilibrium of business and
prevent destructive competition.
III the department of justice or the
president should say that this Is not
the right thing to do, 1t would not be
continued for one minute.
IF the members of this committee
believe 1t is better for all concerned IN
this country for the steel interests to-
inter into destructive competition than
to try legally to maintain an equlibri-
UNI of business. it is UP to you.
IF you want to take the RESPONSE
bility on behalf of the government of
saying destruction would be ,better
than for the steel interests to confer
with each other, and for the mainte-
nance of ruinous policies whereby the
strongest would survive, the weakest
go down and business generally demor-
allied, we will not oppose your action,
but we believe we have done the best
thing we could do under the law
through the maintenance of friendly
relations"
Did you not mean to accomplish