The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-10-27
J. PierpOnt Morgan and +. II.
Gary Are Served.
In Governments Suit to Dis
solve the Steel Trust.
ANSWER DEC. 4.
A Long Hard Fight for Exis-
tence Is Expected.
Many Sensational Allegations
Are Made in the Petition.

New York. oct. 27.-The entire
force OF deputies under United States
Marshal Henkel was put at the dis
posal of the government today to fin
ish the task of serving copies OF the
bill of equity in the federal suit to dis
solve the United states steel corpora
ton upon officers and directors OF the
alleged trust, residing here. J. p. Nor
gan and 7. H. Gary received service
last night but thirteen others re-
manned to be served IN this neighbor-
hood.
According to statement given out
at the office of the United States mar
shal in Trenton. where the suit was
filed yesterday afternoon. this service
/ of the petition Will be followed by
subpOenas requiring the defendants to
answer the petition at Trenton on De-
cember 4. 1t is expected both OF
these services viii be made within 4S
| hours.
The news OF the dissolution came
yesterday some time after the stock
/ market had closed. but fl brought
many of the brokers back to their Of
fices in a hurry to lay plans for to
days market and take advantage Of
earlier opening OF the foreign eN-
changes. Dealers in put and call priv
ileges were busy all night sending or
ders to London
Word Of the sharp decline Of steel
in London caused no surprise IN New
York this morning and traders pre-
pared for a lively day when the stock
exchange opened here at 10 o'clock.
Fear of any unexpected developments
today was dispelled by the length OF
time traders had to digest the news
and by the fact that the rumors OF the
government intention had long pre-
vailed.
Steel common stock closed yester-
day at 5S y and the preferred stock at
los a. AS a basis for comparison OF
todays expected fluctuations it was re-
membered that in May, 1904. steel
common sold as low as s7s and that
about year ago It touched 94N at
the elimination OF a bull movement
based on the expectation Of an ad-
vance in the dividend
A Fight Is Expected.
In the absence Of any statement OF
the steel corporations intention. the
opinion in Wall street was that the
corporation would fight the govern
ment suit Preparations evidently made
in anticipation of such litigation such
as yesterdays decision to abandon the
Great Northern ore leases and the re-
duction of ore freight rates, together
with corporations announcement Of it's
position after the meeting of directors
on September &c were evidence OF this.
Though litigation may run it's course
however, II Is DeileNed the case VIII Do
speedily decided. The reason Is that
the supreme courts decision ia the
Standard Oil case has laid down a
precedent by which the courts may In
terpret the sherman law in the present
controversy.
There are thirty-six subsidiary cor
porations named as defendants.
J. Pierpont Morgan. John ID. Rookie
feller. Andrew Carnegie, Charles NJ.
Schwab, George W. Perkins. =. II.
Gary, John d. Rockefeller. jr., Henry
c. Frick, Charles Steele. James Gay
ley, William II. Moore, J. Fl. Moore.
Edmund c. Converse. Percival Roberts.
tr., Daniel C. Reid. Norman 3. Ream.
p. A. =. Widener and William +. Pal
mer are named individually as defend
ants
Defendant Companies.
The United states steel corporation.
Carnegie steel company. Carnegie
company of New Jersey. Federal steel
eGmPany stsei Ssao5al q zv%e steel sompany
New Jersey. National Tube company.
Shelby steel Tube company. American
Tinplate company, American Sheet e.
Tinplatc company, American Sheet
Steel company, American steel Hoop
company. American Bridge company.
Lake Superior Consolidated Iron
mines. al. of which were organized un-
der the New Jersey laws. and the IT.
c. Frfck Coke company. Tennessee
Coal & Iron & Railroad company and
the Great Western Mining company
Louis w. Hill. James n. HILL Walter
J. Hill. E. #. Nichols and J. IT. Gruber
are named as trustees in connection
with ore companies
Sensational allegations fairly topple
over each other in the governments
petition. which is an equity proceeding.
praying for injunctiOns to stop con-
tinuance of the alleged monopoly and
such other relief as the court may
grant.
The steel corporations acquisition
of the Tennessee Coal &, Iron company
during the panic Of 1908, IS declared
illegal and scathingly criticised.
The petition declares that T.. II.
Cary and Henry G. Frick misled for
mer President Roosevelt when they
told him that but little benefit will
come to the steel corporation from the
purchase"
''The president" It says. "was no.
made fully acquainted with the state
Of affairs in New York relevant TO the
as they existed. n he had
been fully advised he would have
known that n desire to stop the panic
was not the sole moving cause. but
that there was also a desire and pur-
pose to acquire the control Of n COM
pany that had recently assumed a po-
sition Of potential competition Of great
Shares Decline at London.
London, Oct. 27.-Dealers in the
American market assembled earlier
than usual this morning owing to the
action of the United States govern
ment In bringing suit for dissolution
and all constituent OF subsidiary conf
paries. Steel shares opened nominal
" at 50 but soon fell TO 81 and then
to 541z