Arizona republican., 1911-06-03
THE INSIDE FACTS
 BY CHAIRMAN GARY
(Contlnued from Page D.

creditors and that Schley's attorney, Thomas Thatcher. might be able to tell of such an assignment
 'I have heard since" said Mir. Gary. that Schley made statements that he could have got through all right. but
 anyone who heard him at that time would not have thought so. Therefore began to talk to Ledyard about the purchase of the stock at 90 and We finally agreed to il, subject to the ob- jectiOn that might possibly be made in Washington.
 THE AGREEMENT
 After the agreement had been made to take the stock at 9O," said Mir. Gary. "Ledyard came to me and said Schley told him the price of % could not let them out of their difficulty.
 "On November 4. at a meeting of the finance committee of the corpora ton, the entire matter was again re ferred to the chairman and I agreed with Ledyard to raise the price to 100 to let Moore X Schley pull through. My bargain was entirely with Ledyard. Morgan certainly did not participate
 
 selling. I state this because of the sensational statements that have been made"
 THE WHITE HOUSE CONFERENCE
 Mir Gary said that at 10 o'clock Sunday night. November 1. he called up the secretary of the president from New York to arrange for the confer ence. He and MT Prick departed that night. travelling on a special train. and hurried to the White House ahead of the appointed hour as Nor gan told us that the conditions were so critical"
 After hearing our story continued Mir. Gary. the president said he would like to consult with the depart ment of justice Mir. Bonaparte was out of town and the president called Secretary of State Root into his office. The president asked me to again state the case. did. and the result of that interview I immediately wired to New York"
 Did the president ask Secretary Roots opinion as to the legality of the transaction?" asked Mir. Littleton.
 He did" said Mir. Gary, and there was no disagreement between any of us"
 OF AGREEMENT.
 Judge Gary then told the committee he had a record of what took pl'ce| on that occasion, November [. Two days after the visit to the White House he had written to Secretary Root reviewing the entire conference as he remembered it and asking Sec retarv Root if this agreed with his recollection. MT. Root wrote Judge Gary November II. stating that the account of the conference fully agreed with his recollection and that he had sent a copy of Judge Gary's letter and his answer to the president, recon mending that he transmit 1t to iEc| department of justice for its perma nent files This letter was foiowei by this acknowledgment from Pres- dent Roosevelt: MT Gary states the facts as l remember them"
 .I remember" added Gary. that Root said to the president that of course he had no right to say that we could buy this property. i'he president said he understood that and that all he wished to know was what would be the attitude of the de- partment of justice. The president said that in case of objection We could not be permitted to buy. re- member the president also saying that he was glad to know that the Der of the steel production of the had not increased, but was less than at the time the corpora ton was organized. I think he said Tn view of the fact that your per of control of the steel indus try has not increased, but decreased. and appreciating the financial distress, I do not believe it is necessary for me to say that I don't feel like objecting, under the circumstances
 When you went to the president, did it amount to your obtaining an opinion as to whether your deal was in violation of the law" asked MT. | Littleton.
 We did reach the conclusion,' ad- | nitted MT. Gary, that if we acquired l the securities and afterwards there | should be a proceeding bV the gov