The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-06-05
Gary Holds Word "Un-
reasonable" Was Not
Read Into 1t. !
MUSTBE "REASON,,
IN APPLYING LAW
Head Of Steel Corporation Gives
to Public What He Said Behind
Closed Doors to Fellow Man
ufacturers-U Urges Gontin-
uance OF Friendly
Cooperation.

New York, June 4-The arguments
with which il -lge Ebert H. Gary.
chairman of the directors OF the
United States Steel Corpora Ii on,5 ad- i8
dressed iron and steel manufacturers +
whom he had here as guests at q
luncheon a week ago to-day to dis
cuss the independent action OF tho
Republic Iron and Steel Company in
reducing prices, became public to- IS
day. when Judge Gary; made public
the text of his speech. and threw more
light upon what occurred behind the
closed doors of the dining room at the h
Metropolitan Club, where the confer
ence was held VI rs .3 ..si (. Il, y III,
Judge Gary argued for continued
cooperation among the steel makers
and for stability in prices, but his APP
parent wishes on the price question
were overruled by. general decision I.
to meet the cuts OF the Republic Com
pany In the, course of his remarks,
Judge Gary touched upon. the posi-
bility OF wage reductions, the value
of fair dealing and frankness among
the manufacturers, and the rights and
duties of reaticorporations In view of 4
the recent Supreme Court decision. in
the Standard OIL case. M (: i7g
~ have advocated, and shall al
ways advocate, so long as l believe I
have a right to do So said Judge s
Gary. the stability. of prices, thesreG
ularity OF. business conduct on the part n
OF all that is ca lculatedy to recognize
and; advance the interests OF. others, II
Employees May. Suffer-
II have urged you to remember,Fand 4
again call attention. to the fact tthat
when you max substantial.re reductions
in your prices. If you reduce to a
price that Is unfair and unrea sonahic.
and you make SO small profit that 1t
does not yield you q. fnir return on
your Investment and your risk,iyou at |,
i least place for consideration before
every one the possible necessity OF
reducing the cost OF production, In
GLIDING prominently, IL not principally,
the wages which you are paying, or Fl
may be allowed 90 pay, to the man
or the men In your employ. Do not
forget that the la boring men-the EN-
Ployes of the Jcorporatlons-have more I
at risk, When these questions are con
sidered of reducing prices below what
is reasonable and fair. than the em-
ployer. You have no right to run the
risk of being compelled to put their
wages below wha they ought to be
unless you are driven to 1t, and I \
hope. under the present circumstances,
gentlemen. that wha tever may be done :
or whatever m y. happen as result
of present conditions you will NOT re-
uucS me .WaSeS- 7g OF your employees
until you f-eliit is an absolute no.
cessity TO do So
n Referring to the bombshel which
the Republic Company threw into the s
steel market BY reducing prices, Judge
Gary said:
I'VE are confronted with a very Sc
rious and disagraeabie problem. 1t
Is not for me to criticize men nor TO
pass Judgment or the motives OF men
q In .ho batre i,,t,o
their minis suddenly are actuated by
motives of cupiditys or motives of me-
cessity is not for me to say One
thing we know, that one of the lead
Ing iron and steel companies hitherto
Joining In our ouncils learning from
us our Intentions, our business. our
methods, our clients, our customers,
everything of beneit and interest for
one to know concerning his neighbor,
has suddenly, for reasons considered
good BY those In charge, given notice
that for the present at least 1t is not
desirable to CO. operate with u.s. IL
would not expect or ask any one to
do anything he believed wrong. legally
or morally; but on the other hand.
gentlemen, II amy one who has been
cooperating In a lawful way, not in
secret. but under conditions we'll
known and frequently exposed by all
of us suddenly changes his opinion
and believes itlls for his recuniary
Interest FOR the time being to with =.
draw from associating with us, and
declines to give us any Information
concerning what-he Is doing; or pro-
poses to do; leaving himself free to
go to your customers and mine and
get the business for hir.s elf. regard (
less of price, and simply for the pur-
pose of filling his mill Temporarily h
and securing for himself a customer
who has been your customer or mine.
then do not hesitate to say that. so
far as ! am concerned. am perfectly
willing to let him stand outside OF
the circle OF intercourse and friendly
conversation. and open and atoveboard
fair dealing and frankness in exprcs-
sion, but I'LL have sufficient INFLUENCE,
It shall not In the least affect the
relations Of all the rest OF US
Cooperation Important. rs
In my opinion. II is highly rimpor- x
tant for the long future that we con-
tinue our relations OF friendship ana
open and frank expression With ref
erence TO what we are doing. Now, &
do not know the feeling OF the rest
OF you: / do not know what you ara q
disposed to do. think that so FAR
as we are concerned, we would be Z
largely Influenced By the action Of the
others: and while insisting upon the
Position from which I have never
varied, / would not under any Cir
cnmstances make any greemenr, go
press or implied. direct or Indirect to il,
maintain certain prices, to keep. away
from customers to divide territory, to, +
restrict output or to make any agree
ment OF any sort or description with q
any'o OF you, because, as Understand
the law have no6right to do II. YET
at the same .timc would do What Is
have aIWaye zatd Mould AZ 81 ,yaptr n