The Sentinel=record., 1911-08-04
DEFENDS THE
 GARY FEASTS
JOHN A. TOPPING SAYS NOBODY WAS BOUND TO FIX OR MAIN
 TAIN PRICES OF STEEL.
Was SIighted at One Dinner Probably Because His Company Had Slash ed Prices--Sofd Stock to
 Accommodate SchIey.

New York, Aug. 3-John A. gFS- ping, chairman of the board of dlrec- tors of the Republican Iron and Steel Company, which recently cut prices on steel products told the house committee of inquiry into the affairs of the United States Steel Corpora ton today that no agreement to maintain prices existed between Ae lsteel corporation and independent companies.
 Mr. Topping was led mo Giscus- !sion of the so-calied Gary dinners where steel men assembled to dis cuss the trade and his attention cali @ to the facs tbat he had not at tended a Gary dinner just after the republic company cut prices last May. MT. Topping sa1 he did not known whether he had been slighted because the company slashed the price.
 Before going into the steel price question, MT. Topping, who formerly was a member of the Tennessee Goa, and Iron Company syndicate told Hfe committee that at fhe time of the transfer of the Tennessee company to the United States Steel Corpora ton he had not wanted to sell his stock, but did so out of friendship for Grant B. Schley.
 Mir. Topping also discussed the control of ore freight shipping from the Superior region to Pittsburg by the pnited States Steel Corporatlen The rates. he declared. were exces- siye and he predicted that increas. ing strength of Independent steel concerns eventually would force a change.
 In response to questions regarding steel price agreements. MT. Topping said he had not recognized any "gol- den rule" of prices such as have beer talked about since Judge Gary inau- gurated his banquets. He knew Of no agreement.
 The purpose of the Gary dinners. MT. Topping said was a general de- sire on the part of the steel men to discuss sociological. technical and other questions of mutua. advantage.
 Wasn't any such sordid subject as prices ever talked about?"
 Not specifically. In a general way perhaps"
 Were not the men who attended the dinners put on their honor to maintain prices2'
 T think no, one was bound to do anything more than to look out for the best interests of his own busi- ness. !"
 Chairman Stanley asked the wit ness if he had been invited to att tsr- tile International Conference Of Steel Manufacturers at Brussels last July. He said he had but declined. This was before the Republic cut prices.
 Did you notify Judge Gary of the Republics intention to cut steel prices?"
 T think I did notify him.'
 Why"
 Oh, 1t wasn't necessary to do so., MT. Topping replied. 'Tr0ld him as a matter of course. There was no reason to conceal it."
 Chairman Stanley read comments in German iron journal on the Brussels conference which charged that American steel men were att tempting to introduce American methods to control steel prices of the world.
 Do you believe as a practical bus mess man." Mir. Stanley then Asked, that this effort made in Brussels to fix prices hil over the world will escape parliaments of Europe as the price fixing has escaped here and that this American institution can be fastened on he rest of the woridy''
 T doubt 1t very much" said MT. Topping. even if It were practical. ?
 Charles M. Sehwab, president of the Bethlehem Steel Company, and former president of the United States Steel Corporation. has been sum- moned to testify tomorrow. $ate today the committee held an executive session with Richard Lindabury, counsel for the Unired States Steel Corporation, regarding