The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-07-25
STANLEY GIVES
OUT CONTRACT
FURNISHES COMMITTEE WITH A
Cory SHOWING COMPANIES
IN AGREEMENT.
TRADE PORTIONED OUT
ANY COMPANY, SELLING MORE
THAN IT'S ALLOTMENT OF
STEEL, ASSESSED FOR
THE OTHERS.

WASHINGTON, July 24.--Congress-
man Stanley's expected sensation In
the House investigation OF the steel
trust was sprung to-day in the form
OF ane,alIeged agreement entered into
In November, 1900, by eleven steel
companies to cooperate for their mu-
tuaI interest and to form an organiza
ton known as the steel association
of the United States"
No sooner had the committee met
than Chairman Stanley put into tine
record copy of the alleged agreement.
1t first came to light through Eugene
BonneWeH an attorney, and f. b..
Kaufman, job printer both of
Wayne, Pa, who acquainted Chairman
Stanley of their Information, They
said they had printed ii for the Lukens
Iron and Steel Company.
Any steel company violating the
terms of the agreement. il is asserted,
laid itself liable 10 heavy penalties and
fines of as much as $1,000 have been
imposed. Each firm was required to
make monthly sworn statements relat~
Ing to shipments rolling production.
etc, and any member who shipped
more than his apportioned amount was
required To pay i fine on each pound OF
such excess, the money collected being
divided among the members who did
not ship up to their allotted share,
Companies in Pact.
According to the agreement the fol-
lowing were the companies and their
allotments in the pact:
Carnegie Steel Company, 1925.
Jones and Laughlin, limited. AS; Ilu-
nois Steel Company. HOO; Cruicible
Steel Company OF America. $50. Otis
Steel Company. $50. Underwater Steel
Company. 500; Lukens Iron and steel
Company. $50; Worth Brothers Com
pany, 100; Central Iron and Steel
Company, 500; American Steel and
Wire Company. $50 per cent Gias-
Cow Iron Company To the extent Of
sales and up 10 $4,000 tons should
they be able to accomplish them, prior
TO December 81, 1901.
Section 8 of the agreement reads:
All sales between parties to these
agreements shall be at full prices. as
provided In agreement 3, and eli ship
ments shall be reported by the manu-
facturer on which a poll tax will be
charged the same as outside parties.
the purchaser also to report shipments
OF all such materials so bought, for
which they shall claim and receive
credit.
General Expense Fund.
Section IL tells OF the establishment
Of general expense fund to provide
Tor Inc prompt payment of all salaries.
rents ana other expenses to be called
In as needed by. the treasurer Of the
association In proportion To the per-
centaEe allotted each member.
Another provision Of the agreement
required that "ali plates shipped into
the States bordering on this Pacific
Coast and TO be actually used in the
territory into which 1t Is shipped and
also all plates actually exported for
use outside the limits or the United
States be reported to q commissioner,
together with bills Of lading, or other
evidence or expectation, for actual use
abroad, satisfactory to him (said evil
dence to be confidential and not to he
circslated among membersl. Such
tonnage was to be deducted from the
members report and the agreed poll tax
charged
Richard Lindabury, counsel for the
United states Steel Corporation pr :
tested agalnst the Introduction II tie
copy fthe agreement, because It was
not signed and because the data "A
gwen was one year In advance or the,
formation Of the United States Cor
poration. Mr.. Lindaburv said that
there was no such agreement III he
Ties OF the steel corporation ara he
denies all knowledge OF II hut the copy
Of the agreement read was placed IN
the committees report.