New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-01
SEEK MORE STEEL POOLS
"Wire Trust" indictments Only
Beginning. Says Government.
MAY TAKE UP STEEL RAILS
H. i. Satterlee Sought to Testify,
but He Was Permitted Only
to Make a Statement.

The information gathered by the govern
ment investigation Of the American Steel
and Wire Company pools will he Of great
value in the further inquiries to We direct
Cd against subsidiaries Of the Steel
Corporation. In discussing the investiga-
tons that led to the indictments returned
on Thursday government officials indicat-
cd Yesterday that though they had had the
various companies concerned under sus-
picion for a long time II had been with
the most extreme difficulty that positive
evidence against them had been secured.
II was not until two letters came into
the hands OF the investigating officials that
they were able 10 lay their hands on a
witness whom they felt they could sub
ppna without the fear of granting i'm
mUnity to any of the men whom they want
ed 10 indict and with some assurance that
he would be able to furnish facts about the
business. Although the existence of the
pools was known to the government the
business was conducted with such secrecy
that no documents could he obtained
In the course OF the investigation much
has been found that points toward The
advisahility Of an inquiry into the condi-
tons surrounding the manufacture Of steel
rails While II is true that the price Of
steel rails mas remained unchanged since
1902. IL is equally true that the great ma
iority Of steel rail tonnage in this country
IS turned out by the steel Corporation,
and In the Investigations made under the
authority Of the Bureau Of Corporations
in Washington it has been pointed out
that the greatest evil found in the Steel
80 H..
steel rail business of the country. For this
reason IT IS understood that the attention
Of the Department Of Justice will be turned
next TO that branch Of the Steel Corpora
TONS affairs.
All the material obtainabe was trade re-
ports accessible to the public IN general
and such data as had been gathered by the
Bureau Of Corporations in Washington
The men at the head of the pools could not
b. called as witnesses. a. TO do so would
give them immunity from prosecution and
thus defeat the object of the investigation
The same conditions applied 10 the direc-
tors officers and higher employees Of the
companies involved, while the middlemen
were prevented from testifying in a man
ner valuable 10 the government by their
business interests.
After the first evidence was discovered
the investigation covered a period Of six
months Officers OF the Department OF
Justice were kept busy for four months TO
establish basis for the work of the fed
eral grand jury. For several weeks there
were only few witnesses subpenaed, but
as the grand jury delved into the work Of
the pools new witnesses We're made avail
able When the grand jury was discharged
Mr.. Wise. United States Attorney. asked
Judge Martin 10 express to them the
thanks Of the government for the partic-
ularly difficult work they had brought TO
A successful end In finding the indictments
IN the pooling cases
The work thus done, it is intmated by
the government, las laid the foundation
for the further Investigations IT is planned
20 make into other subsidiaries Of the
steel Corporation. The government has
learned that many Of the witnesses called
In the American Steel and Wire Com
Ieny inquiry have knowledge Of other pool
Ing operations as we'll The question of in
formal meetings and suspected verbal
agreements as 10 conduct Of business. out
"a, and prices will be made n special
feature Of the Investigations
While the investigation OF the American
steel and Wire Company pools was under
way Herbert l.. Satterlee sought twice 10
appear as a witness before the grand jury.
Both in person and through his counsel,
James r. Sheffield, he expressed his Will
ingness 10 testify. but in both cases the
offer was refused When he learned
through The Tribune on Thursday morn
Ing that the indictments would be handed
down on that day he went once again 10
the Fedora Pudding 10 offer his testimony.
Mr. Satterlee was not allowed 10 appear
as a witness but he was permitted 10
make a statement 10 the grand jury Be
fore doing SO. however he waived his
rights 10 immunity. and his statement was
not made under oath. The Assistant United
States Attorneys, Messrs. Grim and Frank
flrter said yesterday that Mr.. Satter-
lees presence I'm :hc S-and jury room in
no way gave him immunity from prose
cution
Edwin f. Jackson. jr, who appears in
the Indictments as the centre Of all the
pools IS said - have received about 500
On wear as pay for his work. In the
last few wears II is undefstood that he
has accumulated n fortune VI several mill
tons Of dollars for work Of this kind he
knew before he sailed for Europe that the
government was investigating the Amen
can Steel and wire company pools. ana
before sailing retained the law hrm OF
Nioon Annable. Lindsay & Fuller as his
L. ~