The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-06-03

this country large sums of money.
me ultimate effect, he added, was to
reduce the price to the domestic con-
sumner. All countries practice dump
ing, Mr.. Gary declared.
How long has it been since any
country dumped rails on to us?" in
| CURED Chairman Stanley.
In about 1904 or 1906" came the
response. Last year some rails were
dumped on the Pacific coast.
WOULD If THEY COULD.
Representative Littleton inquired if
| it were not true that the steel manu-
facturers were trying to steer a nice
course between the Sherman antitrust
law on the one hand and the obstacles
of competition on the other. 49,.
1T is replied Mr. Gary. 'I wish
lawfully do it."
Then you think in the light of the
experience of the last ten years that
present prices cannot be maintained
for another long period and still avoid
the sharp corners of the Sherman
law?'' Mr.. Littieton asked.
II don't think it can, except under
Mr.. Gary. There is such a diversity
of interest in the steel business that
it seems to me that there must be
some way devised to allow the manu-
facturers to protect themselves from
obstructive. competition that will drive
manufa cturers out of business else we
will be in chaos" ....
Then Mr.. Littleton continued, do
you believe that there is no way com
petition can continue freely and the
steel business develop and result in
benefit TO the consumers ?"
81 do noe think it can be done" said
government control" said Mr.. Gary.
You think then the time has come
y4nV MA ,r4 H.,
tive method in business for accept
ance of new policy in big business
affairs ?" ...-..-..
ut seems to me it has
Chairman Stanley asked Mr.. Gary if
under government control, business in
terests could stop short of absolute
government ownership.
. It think 1t can De done" Mr.. Gary
answered. 1.-THE banks and railroads
have done it to a certain extent. The
banks have gone only to the extent of
absolute publicity and that demon
strates the legal right OF the govern
ment to control business corpora
tons
Mr.. Littleton asked the witness if
the United States Steel Corporation
could effect dissolution of it's sub
sidiary companies and absorb them in
one operating company under one
head.
Yes, we could and readily would if
by law or suggestion from official
sources we could see the way clear"
Personally 1 believe the Sherman
act" said Mr.. Gary, does not now
and never will fully prevent the or
gaz.izing Of great combinations of cap
ital. 1 believe we must come to en-
forced publicity and governmental
control of corporations"
DO you mean governemnt control
even as to prices?" Mr.. Stanley asked.
Eyes, even as to prices. So far as
am concerned, speaking for the United
States Steel Corporation, l would be
very glad if we could know exactly
where we stand and could be free from
the dangers and criticism of the pub
lie. I wish We could go to some re-
sponsible governm source and say
here are our facts, here is our bust
ness, here is our supply and our cost
of production and could be told Just
what prices we could charge and just
what we could do"
Mr.. Gary said the real problem was
not the making of big profits but it
was rather the establishment of a def
mite understanding of the legal situa-
ton.
do understand that you believe in
strict governmental supervision of
corporations" asked Representative
Littleton of New York
Yes do" said Mr.. Gary; 81 know
that Is a radical position, but some
thing must be done"
rs it your conviction" Mr.. Little
ton acquired, that the Sherman anti
frost IaT is archaic and unable to deal
with the modern situation?"
Eyes"