The Barre daily times. (Barre, Vt.) 1897-1959, 1911-06-10
So States One Witness in the
Steel Trust Inquiry
RAILROAD FIXED PRICES
When II Purchased Rails-Through the
Gary Dinners Men in the Steel Trust
Have Accomplished Great Re-
suits Witness Declares.

Washington June l0.-An academi,
discussion OF j. Pierpont Morgan's in
dustrial potentiality and a considera
ton of the system OF interlocking di
rectorates of the United States Stee
corporation and the other big industrial
enterprises were features of yesterdays
session of the House committee that
is investigating steel corporation affairs
The committee sought also to show that
through the Gary dinners" the prices
of steel products were maintained and
competition curtailed, as effectively as
they were prior to the steel corporations
formation, by gentlemen's agreements
made despite the Sherman antitrust
law.
Percival Roberts, jr., director, and
James Gayley, former vice president
of the steel corporation, were yester-
days witnesses. Mr.. Roberts was asked
20 price agreements between different
steel manufacturing concerns.
81 believe he said, that through the
Gary dinners men in the steel business
have accomplished great results for the
benefit of all by the application of
good common American sense Exam
pie has a great deal to do with the af
fairs of this world"
With j. p Morgan in mind, though
not naming him, Chairman Stanley
asked:
"Is there in the financial world to-
day a man of infinite power and vast
interests whose example is regarded in
way as the law by big business menf
is there not one man whose example
business men of the nation follow, on
account of his immense grasp of modern
conditions, his touch which potentiates
the railroads of the nation, the steel
manufacturing business, establishment
of banks and extends to all the multi
farious ramifcations OF the business OF
the country, and who can not only frame
business conditions, but change them by
the mere pressing button ?"
81 suppose | have in mind whom you
mean" Mr.. Roberts answered what.
ever he may accomplish for the good OF
the government and upholding the bus
mess interests of the country. he does
by reason of his qualities and his ideals.
1t is not because of his personality and
name. II is the ideal which he repre-
SCENTS that makes the country what it
IS"
Mr.. Roberts testified that he was a
director of the United States Steel cor
poration and of the Pennsylvania rail-
road, which owns stock in the Cambria
and Pennsylvania Steel companies and
gives orders for rails to the Cambria,
Pennsylvania and United States Steel
He said steel corporation directors who
were also directors of the railroad had
nothing to do with determining prices
for rails. The price of rails never came
before the directorate of either corpora
tion when he was present They were
fixed BY purchasing and Selling agents.
Mr. Roberts said that once. before he
became steel director, he told Presi-.I
dent AfcCrea of the Pennsylvania rail-
road that prices quoted by the steel
corporation for rails were too high At
his instance Mr. McCrea saw Mr.. Gary
"and the steel corporation satisfactorily
modified its prices"
Mr. Roberts cited the bylaws of the
steel corporation aud the Pennsylvania |
railroad, which prohibit directors from
voting on contracts between the two
companies.