New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-29
TWO STEEL COMPANIES
REPORTED INDICTED
Grand Jury Said to Have Found
Bills Against American and
Federal Concerns.
TO MAKE RETURNS TO-DAY
Prosecution Is Aimed at United
States Corporation Through
Subsidiaries of Which 1t
Is Composed.

Indictments In connection with the in
vestication by a federal grand jury Of
the American Steel and Wire Company
and the Federal steel Company. the Two
largest subsidiaries Of the United states
steel Corporation. are expected ~ be r.
turned to-day. according 10 information
obtained yesterday from government
official
The indictments. II is understood. have
been found under the provisions OF the
Sherman antitrust law. As told in The
Tribune Of June 80. the affairs Of the
United states steel Corporation have
been under invest cation nv the grand
jury for, several months. and the indic'-
ments expected to-day are tho outcome
Of this work
The Jury in'rusted with this inquiry
was empannelled in MAY. hut because ~
the scope of the investigation has been
continued throughout June. Its term Of
work closes to-day. and unless it's find
ings are presented To a Judge the whole
matter will have 10 be submitted anew
10 another grand jury.
Tho plan said To have been laid out by
the Attorney General does not contom-
rlate an investigation ~ the United
states steel Corporation as whole
The compleyity Of the corporations bust
ness and the multitude Of branches Of
manufacturing which II controls would
make such an Investigation almost be
vond human task The prosecution is to
he directed against the trusts within the
trust.
Although crininal prosecutions were
not decided upon until after the stand
ard oil and Tobacco cases were won 10y
the government the Investigation has
been going on for almost six months.
Long before Congress adopted resolu
tions demanding an inquiry into the af-
poration the Department of Justice had
started it's own investigation
W. ~. Grim, Assistant United states
Attorney. has been conducting the in
case was indicated when Mr.. Roadstrom.
a Deputy Attorney General with con-
siderable experience In such cases, was
sent from Washington To aid In the
work The inquiry was based on infor-
nation gathered by the Bureau OF Cor
porations In Washington but this infor-
nation alone was not sufficient for in
dictmcnts Scores of witnesses appeared
before the grand jury to tell all they
know about the business of the two sub
eidi,rv companies which the Attorney
couoraI's office had decided to investi
gate.
According to an attorney for the
Irpited states steel Corporation. several
oFcialssof that company and the two
.,,beidiarv companies involved had TO
appear before the grand jury.
rho American steel and Wire Com
many is capitalized at SJ0,WoWo com
or and SlOWUUO preferred stock, all
or which is owned by the United States
stoo, CORPORATION. The American steel
and Wire Company owns the entire cap
;,oi stock of the American Steel and
Wire Company of Colorado ana the
Canadian steel and Wire Company. 1t
owns all the capital stock and first
mortgage bonds of the Troy Steel Prod
nets company and has acquired posses
sion Of the Anthony Fence Works. now
Lr,vn as the Anthony Works.
The Federal steel Company has cap
;,,Iiyatiou of SAG 6,4Si.3OO common and
S-,2 oGo oOO preferred stock. all of which
10 owned by the United States Steel Cor
rora,ion. IL was incorporated in 1898
:, ,couire the capital stocks es .he III
,o,s steel Company. the Lorain Steel
company. the Minnesota Iron Company
and the Johnson Company. Of Pennsyl-
,.ania II also owns the entire capital
.,ock of the National Tube Company. Of
ohio and the United States Steel Prod
ucts Export COMPANY. which acts a.
e.port selling agent for the several sub
sidiary companies.