Evening star., 1911-06-08
Appeal to District Supreme Court.
TALKS OF POLICIES
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ALL which would mean no loss to you.
but loss TO your competitors" suggested
Mr.. Stanley.
Not at all" replied Judge Gary. 1.-THE
rates are public and the interstate COM
merce commission would not allow US to
fix an exorbitant rate" replied Judge
Gary.
At this point Chairman Stanley inter
jected a discussion to whether the
steel trusts railways in Minnesota make
their rates on iron ore on the basis OF
Interstate commerce. whereas the tramc
IS interstate. and that the Minnesota state
railway commission has no jurisdiction
over the rates.
In the course of this discussion Judge
Gary SAID that the rates had existed since
long before the steel corporation was Or
agreement between James ]. Hill and the
United States Steel Corporation as to
rates on ore in Minnesota.
Always Desired Publicity.
Judge Gary then said he desired to
make a few remarks of general char
acter about the policy and methods Of the
United States Steel Corporation.
"Our policy has been publicity from the
beginning said Judge Gary. I'VE be-
lieve that enforced publicity as to a cor
poration is most important to all con-
cerned.
on our part to keep away from any pos
sible effort to exercise monopoly. We
have suffered criticism from our stock
holders because we allowed our competi-
tors TO increase production We nave
never attempted to increase prices un-
duly. and have never tried to drive COM
petitors out of business.
Treatment of Employees.
I'VE have from the start given con-
sideration to our employees. We have
kept the wages up and paid as good
wages as others. We have refused to
decrease wages when our competitors
did. We have a pension plan. stock
bonus plan and a relief plan for injured
employees.
The average number OF employees is
more than 1I5.oU and has run up to
.:6.Oo0 We have improved our condi-
tons at the mills: our stores sell sup
pies to our men at prices less than pre-
vail elsewhere. We nave taken especial
pains at Very large expense to protect our
workmen against accidents. spending last
year a million dollars in that way.
We have about 1oO,OtO stockholders.
and IL is to their interest that we keep
within the law, that We give fair treat
ment TO all. and that We have the best
CLASS VI Wof hHicI-
The Events of 1907.
Following this statement. Judge Bart
lett of the committee took up a line OF
questioning. drawing out again details
of the panic of 1901 and the conferences
in Mr.. Morgan's library leading up to
the purchase of the T. c. & /. Company.
Organization of Steel Company.
At the late afternoon session of the
committee yesterday Judge Gary told of
the organization of the United States
Steel Corporation, relating facts which
have in the main been recited hereto
fore
Il want to say. lie said. that from
the standpoint of the original cost of the
concerns which We're taken in and what
il would have cost to reproduce them al
the time there is no doubt that the
United States Steel Corporation was
overca pitalized. but from the standpoint
of what all the properties were actually
worth put together a. growing concern
DO not believe that the steel corpora
ton was overcapitalized.
MIR. Gary declared that in all the nego-
tiations preceding the organization of the
United States Steel Corporation he never
had heard that the threat of Mr.. Car
negie 80 build a plant to rival the Ma
tionaI Tube COMPANY. organized by Mr
Morgan. and TO build railroad from
Pittsburg to New York, connecting all his
steel plants had anything 10 do with il
such matters as | learned were testi-
fed to by Mr.. Gates before this COM
mittee' Mr.. Gary said. never were
spoken of in our deliberations. | do no,
remember that Mr.. Morgan ever men,
toned these matters to me-"
Mr. Gary said that when IL came to
the matter of discussing the charter and
form of organization Of the Steel Cor
poration Mr. Gates had nothing to dc
with IL. Mr. Gates connection, he said
was TO look after the interests OF the
American Steel and Wire Company In the
transaction.