The Sentinel=record., 1911-06-09
CONSTRUCTIVE
 LEGISLATION
E. H. GARY PLEADS FOR LAW TO REPLAcG THE ANTITRUST
 STATUTES
Says Law Is Needed to Protect Prop erty and Asks for Proper Stand Ing of the Steel Trust Under
 the Laws

Washington, June S.-Legisation to replace the sherman antitrust law so as to protect property interests and the peoples welfare alike, was urged by Ebert H. Gary, chairman Of the Board of Directors of the United States Steel Corporation in oonclud- ing his testimony today before the house so called steel trust investigat ing committee. Judge Gary said he hoped the committee in its report on the investigation would give the Unit ed States Steel Corporation what the committee thinks ought to be the cor poration's standing under the law.
 " wish, said he, that this com mittee will taF advantage of it's pp- portunity to suggest legislation and use it's influence to bring about the enactment of proper legislation cal culated to protect the property inter- ests of the country, the interests or the government and the people at large, so as to permit us to continue business progress aong lines of pros perity.
 Constructive legislation Is what Is needed in this country if We are to retain our position in the ranks with competing nations of the world"
 Would you believe 1t sensible,' asked Representative Littleton, Ito have congress appoint oiint com mitte to hear representatives of capi- tai and labor. and so called restrain ed and unrestrained trade with a view to preparing an antitrust law which would correct features of the Sher- man law or errors that might have come through court decisions on that law and to strengthen and elaborate that law?"
 Yes, I do." responded MT. Gary, and I would be blad to have such an undertaking result in somethin. more practical and to be the first one to fall in line to live up to such a law"
 The so-calied "Gary dinners" where steel men of the country ac- quaint each other with all facts re- lating to their business and suggest ed maintenance of prices to prevent destructive competition" were deived into by the committee. Representa- tive Beall sought to show that the re- suit of those understandings were tantamount to signed agreement to control prices, a violation of the Sherman antitrust.
 '1 have stated repeatedly" said Gary, that believed, and all of us in the steel business believed, that open and frank dscrosures to each other of our business conditions and suggestions brought about an equii- brum in the trade and prevented de- structive competition.
 "The only question involved in those dinners Is whether it's good law or good morals to endeavor by friend ly intercourse, such as has been de- scribed by me, to maintain to be a reasonable extent, a equilibrium Of business and prevent destructive competition.
 ''If the department Of justice or the president should say this is not the right thing to do. it would be con- tinued for one minute.
 If the members of this committed believe it is better for all concerned 1 in this country for the steel interests to enter into destructive competition than try to legally maintain an equil- tibrum of business, it is up to you- II you want to take the responsibility in behalf of the government of say ing destruction would be better thar I for the steel interests to confer witt ruinious policies whereby the strong est would survive, the business gener- ally demoralized, we would not oppose your action but We believe we have done the best thing we could do un- der the law through the maintenance of friendly relations.
 Didn't you mean to accomplish the same results through your friendl. interchange of ideas at the Gary din ners, as would have been accomplish
 ed by Illegal agreement to contro lprices" asked Representative Beali.
 Mir. Gary replied that this was no
 so in his opinion what had been don
 was legal and men who attende'