New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-22
GRAND JURY PROBING
THE STEEL CORPORATION
Officials Asked to Tell About
Alleged Illegal Price
Agreement.
CONDUCT INQUIRY SECRETLY
Action of American Steel and
Wire Company Said To Be
Responsible for the
Investigation.

The federal grand jury for the Crimi-
nal Branch Of the United States Circuit
Court in this city is conducting an in
quiry into the affairs Of the United
States Steel Corpora tion. and. according
10 information obtained Yesterday I'm the
Federal Building. indictments will he re-
turned next week. The inquiry has been
conducted for weeks. and despite the
fact that large number OF witnesses
had been examined by the grand jury
the utmost secrecy as 10 the proceedings
has been preserved.
It became known. however. that the
witnesses subppnaed have produced SUI
ficient evidence to warrant preliminary
drafts Of indictments by W. II. Grim.
Assistant United States Attorney in
| charge Of the investiga tion. The scope
Of the inquiry and the nature Of the in
dictment were merely indicated by allu-
,ions 10 recent events affecting the Steel
Corporation
Asked About Alleged Agreement.
A man connected with the company
said last night that officials Of the
| United States Steel Corporation had been
summoned before the federal grand jury
10 testify regarding an alleged illegal
| price agreement entered into between
the American Steel and Wire Company.
one of the principal subsidiaries Of the
corporation. and other producers of steel
wire
He admitted. however. that the grand
| jury may have investigated other phases
Of the steel business. and said that he
would not be surprised to learn that va
rious other branches Of the industry had
been scrutinized BY the grand jury.
The American Steel and Wire Com
pany was Incorporated in New Jersey on
January 13. 1899 1t acquired the prop
critics Of the old American Steel and
Wire Company. the Washburn & Moen
Company and the American Steamship
| COMPANY. IL owns the entire capital
stock OF the American Steel and Wire
! Company. Of Colorado and Of the Cana
dian steel and Wire Company. as well as
all the stock and first mortgage bonds ot
the Troy Steel Products Company In
1910 the concern purchased the plant and
| equipment of the Anthony Fence Com
panv now known as the Anthony
| Works
As to whether the present inquiry was
being conducted under the provisions Of
the Sherman antitrust law there was
! some doubt. in view Of the fact that the
| investigation Of the Steel Corporation by
a Congress committee IL still in progress.
| The fact that Mr.. Grim had been as
signed 10 the case was regarded In the
Federal Building as an indication that
the inquiry related 10 alleged violations
OF the Hepburn law against Relating.
Mr.. Grim has conducted numerous cases
OF this kind. while an antitrust case
would be new matter for him.
Cement Company First Com mplained.
This impression was strengthened
when it was found that the grand jury
+ began its investigation a short time after
| hearing was held in this city before the
/ Interstate Commerce Commission on the
! complaint Of the Alpha Portland Cement
/ Company against the Baltimore x Ohio
/ Railroad Company for rate discrimina-
/ tion in favor Of the Universal Portland
| Cement Company. a subsidiary of the
| steel Corporation.
/ Resides the Baltimore e. Ohio there
we're 100 railroads and corporations in
Con,inr ed on fourth PAGE.