The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1911-06-05
HEAD OF STEEL
TRUST ADDRESSED TO
GUESTS MADE PUBLIC.
ADVISES COOPERATION
Stability Of Prices is Desired by Speak.
er and Host, but General Decision TO
Meet Cut Made by Republic Iron &
Steel Company Overrules Him-His
Idea Of "Reasonable."

New York, June 4.-Thc arguments
with which Ebert II. Gary. chairman
OF the directors of the United States
, Steel corporation, addressed iron and
steel manufacturers, who were his
guests at recent luncheon to dis
cuss the independent action of the
Republic Iron 4 Steel company In
reducing prices, We're made public by
him today. They threw added light
on what occurred behind the closed
doors at the Metropolitan club, where
the conference was held.
Mr.. Gary argued for continued CO.
operation among the steel makers and
for stability in prices. but his apparent
wishes on the price question were
overruled by a general decision to
meet the cuts of the Republic COM
pany. In his remarks Mr. Gary
touched upon the possibility of wage
reductions. the value of fair dealing
and frankness by great corporations
In view of the recent supreme court
decisions in the Standard OIL case.
For Stability.
Il have advocated and shall always
advocate SO long as | believe / have
Il right To do So" said Mr.. Gary, "the
stability of prices. the regularity Of
business conduct on the part OF all
calculated to recognize and advance
the interests of others.
Il have urged you to remember and
| again call attention to the fact that
when YOU make substantial reductions
In your prices you face the possible
necessity of reducing the cost of pro-
duction, including the wages you are
paying to the men In your employ.
DO not forget that the laboring
men-the employees of the corpora
tions-have more at risk than the
employers. You have no right to
run the risk OF being compelled to
put their wages below what they
ought to be. unless you are driven
to IL; and hope that whatever may
be done you will not reduce the
wages until you feel 1t Is an absolute
necessity"
"Disagreeable.'
Referring to the bombshell which
the Republic company threw into the
steel market by reducing prices. Mr..
Gary said:
we are confronted with very
serious and disagreeable problem. 1t
Is not for me to criticize men nor to
pass Judgment on their motives.
"One thing we know, that one of
the leading iron and steel companies
hitherto joining In our councils. has
suddenly for reasons considered good
by those in charge, given notice that.
for the present at least. 1t is not de-
sirable to cooperate with us.
Il would not expect or ask anyone
to do anything he believed wrong,
legally or morally. but on the other
hand, II anyone who has been CO.
operating In a lawful way suddenly
changes his opinion and believes II Is
for his pecuniary Interest for the
time being to withdraw. then do
not hesitate to say that so far as
| am concerned, am perfectly will
ing to let him stand outside and II
/ have sufficient Influence 1t shall
not In the least affect the relations
of the rest.
I'm my opinion, 1t IL highly import
ant for the long future that we con-
tinue our relations OF friendship and
open and frank expression.
Il think that so far as we are con-
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