Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1912-08-06
ROOSEVELT BLAMED FOR
STEEL TRUST OCTOPUS
Stanley Investigating Commit
tee Makes Hot Charges in
Report to House

(By Associated ITess,)
4 WASHINGTON, Aug. 2.--The report
of the majority of the committee Of the
house of representatives directed more
than year ago to Investigate the Unit
ed States Steel corporation, was sub
united to the house today by Repre-
( sentative Stanley, Of Kentucky, chair
man of the committee.
B The report was signed by the chairs
man and Representatives Bartlett. OF
Georgia; McGilHcuddy, Maine; Beall-
Texas, and Littleton, New York. Demo
Gratis. Representatives Gardner. Massa-
chusetts; Danforth. New York; Young,
Michigan. and Sterling, Illinois. Repub-
/ Iicans, dissented from the report of the
majority. Representative Sterling sub
mitted his individual views in a NIL
ncrity report and Representative Little
ton. Democrat, dissenting from the rec
concentrations of the majority for
amendment of the Sherman antitrust
law filed his views.
/ Representatives Gardner and Dan
forth will unite in another minority re-
port which Representative Young will
sign and add to it his own findings as
to the facts surrounding the organiza-
ton and operation of the steel corpora
/ tion.
The report of the majority deals
with the steel trust from its inception
and describes the various steps by
which ]. P. Morgan and his associates
built up the corporation. In addition
TO recommendation for legislation sug-
gested as remedial. the Democratic
members Of the committee make gen.
eral accusations against the men re-
sponslble for the organization.
OVERCAPITALIZATIO
]. p Morgan and his associates are
held up as being the benefciaries of
enormous profits realized from the
! o disqualification of the subsidiary COM
panles Of the steel corporation and lat
er of the corporation itself
! Judge r. H Gary and his dinners to
steel manufacturers are credited with
a scheme by which prices and territory
were controlled by the steel trust al l.
er pooling agreements were discarded.
ROOSEVELT BLAMED.
Former President Roosevelt is indict-
/ ed for making the control of the Steel
Trust absolute and is charged with be-
ing responsible for the gigantic stature
which the trust has attained.
The United States Steel corporation
/ is Tlayed as an enemy of organized la
cal conditions of its employees and of
contributing to American. industry work
men and work methods un-American
and foreign to the best interests of la
Dor.
/ Principal stockholders sof the steer
corporation are accused Yof exerting a
powerful and injurious influence on the
business Of the United States by means
of control exercised through interlock-
H. s.R Ind
trial organizations.
ACTIVE IN POLITICS.
The activity of the corporation in pol
itics is laid bare and its influence de-
scribed, and the steel trust as a tariff
beneficiary and it's part in the making
/ Of the Payne-Aldrich tariff act are
touched upon by the Democrats.
The committee recommends legislation
| to cure trust evils and to meet exist
\ ing conditions 1t condemns the Steel
corporation but does not invade the ju-
=isdiction of the United States court in
which there is now pending government
suits for its dissolution.
Early in its report the committee sets
forth that it would investigate "as if no
proceeding on the part of the United
| States government were now pending
| against said corporation, but not for the
purpose of determining the questions in
volved in the action brought by the gov
eminent"
The go. ernments suit is to discover
il the United States steel corporation is
''in violation of the Sherman antitrust
law"
ROOSEVELT ACCUSED.
The committee reports that on October
Is 1907, President Roosevelt issued a
statement congratulating Secretary Cor
| telyou and the business men who headed
off the panic. The committee says of
this: SPA
up until the time of this interview
the steel corporation owed its success
and its permaneney 10 the power and the
skill of the finaneieTs who had created
and the iron masters who had directed
its opera tions. Since that time it's domi-
nance has been due in no small measure
TO the sudden ill-considered, and arbi-
trary fiat of the chief executive.
1.-THE presidents refusal to interfere
| was an absolute warrant to proceed. A
suggestion from him to the attorney gen.
eral was equivalent to a command; and
upon a refusal of the attorney general
to act, the corporation was immune.
This is admitted by Colonel Roosevelt,
/ and he unhesitatingly assumes full re-
! sponsibility in the matter"
! The report occupies more than 200 pages
and much of it is criticism of the meth
! DDS of the trusts. Andrew Carnegie's
steel making methods and his desire to
extend his business are held out as the
motives which compelled J. PierpOnt
Morgan and his associates to organize the
steel trust.
]