Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1912-08-02
STEEL TRUST AAY[D
By IBOUS[ COMMITTEE
J. :. MORGAN AND OTHER CAP
TA,Ms or FINANCE SCORED
ron MAh.suLArioNs.
~oosEvELT CONDEMNED ron
PART IN PERMITTING DEAL

o.n,eerats Of cemmittse Tsii Of Ten.
nssss Coat and irsn Absorption and
co-opsratien Of Reessvslt With Wall
a&.... =. prevent Panic-voiumin-
eus Report Submitted to House.
washington, Aug. 2.-The report OF
the majority Of the committee OF tne
house Of representatives directed more
than. . year ago to investigate the Un-
tied states Steel Corporation was SUD-
m,ttsd TO the house today by Repre-
sentative Stanley. or kentocAy' c"~'A
man of the committee.
The report was signed by the chair
r,a,s ana Representatives Bartlett. 'of
C;aofxia: ,McGillcuddy, of Maine;
Rean. Of Texas. and Littleton. of New
Yori democrats; Representatives
Gardner. OF MASSACHUSETTS,: Danforth.
of New York; Young, OF Michigan. and
STERLING. Of Illinois. republicans. dis
sented from the report OF the majori-
- Representative Sterling submitted
his Individual views In Q minority re-
mort, ana Representative Littleton,
democrat. dissenting from the recon-
mendations of the majority for amend
ment of the Sherman ANTITRUST la"'
filed his views
Z -p.rra.entatives Gardner and Dam
|orth will unite in another minority re-
mort which Representative Young VIII
s,~n and add to 1t his own findings az
~ the facts surrounding the organi-
z.tion and operation Of the steel cor
poration.
Morgan 10 Scored.
The report describes the various
.tepa by which ]. P. Morgan and MS
..sociates built mp the corporation. In
.ddition to recommendations for rem
.dial leeislstion, the democratic mem-
her. made general accusations against
the men responsible for the orSaniza-
ton. ... a..
= - Morgan and his associates arc
hald nm A being the benehctaries OF
~rc.mnus profits. realized from over
st.iixation Of the subsidiary COM
panies ana later Of the corporation ~
/. seif. ". ....... !.
i II yuaes R.H. Gary and hiss dinners -. -
ZOO manufacturers arc credited Win
7 schcms by which prices ana terIl err.
tory were controlled. after JOHNS
agreements were decided.
Roossss.t ;s cendsnned.
Former President Roosevelt is IN
dicted for making control OF the steer
trust absolute. and Is charged with De-
inx responsible for the gigantic stature
vhich the trust has attained.
The United States Steel Corporation
q dayed a. an enemy TO organized la
Dor. accused Of lowering the sociologi-
cal conditions. of bringing In workmen
ana work methods unamerican and
foreign 70 the best interests of labor.
Principal stockholders Of the cor
poration are acc used Of asserting q
powerful and Injurious influence on the
business OF the United States by con-
troll OF interlocking directorates o. rail-
way and industrial organization.
Activity In Politics.
The activity of the corporation In
politics 10 laid bare and its influence
described, and the steel trust" as
tarin beneficiary and its part in the
making OF the Payne -Aldrich tariff act
are touched upon by tho democrats.
The committee recommends legisla-
ticr, to cur trust evils and to meet ex-
isting conditions. It condemns the steel
CORPORATION but does not invade the
1urisdiction Of the United States court
IA which there 10 now pending gov
ernn,snt suit for it, dissolution.
Early In III report the committee sets
forth, that Il would investigate "as II
NO proceeding on the psrt OF the Unit
etl states government were now pend
inx against said corporation. but not
for the purpose Of determining the
questions Involved in the action
brought b. the sovernm ent."
Conclusions of Committees.
The governments suit 10 to discover
II the United States Steel Corporation
Is I'm violstion OF the Sherman anti
trust law"
In Summing up its conclusions the
majority report says:
.Nrhe control of corporations by tho
federal government, a. recommended
by Mr., Carnegie. Judge Gary and
others. T. not approved. Whatever may
to the 6ytl results Of the elimination
OF competition from the steel business
It does not justify such a remedy and
could not b cured by 1t. Such con-
troll. semi socialistic in its nature, IL
beyond the power vested by the con-
stitution 81 the federal congress.
"The abuses mentioned in this report
can in Q treat measure be remedied by
giving to the operations Of the United
States Steel Corporation and other like
corporations the widest publicity, and
~ The strict enforcement Of laws spe-
ciAcaily iahibitjng the employment Of
ennaine devices By which an unfair
adyantago over competitors r. secured.
ThA bureAu OF corporations possesses
the authority - thoroughly investigate
the internal affairs Of industrial CON-
Germs doing an interstate business. Had
the ci1arScte- Of he steel corporation
and the Hatura an6 extent Of its oper-
ations hem known to the people and
TO ths peesidane Of the United States
at the tire Of the absorption OF the
TENNESSEE Coal and Iron Company. III
is highly imps obAb'e that the chief
executive would IN twenty minutes have
sive,. hts conseAt 10 merger fraught
With infinite injury 10 the steel injury
10 the steel industry md TO the public
alike. .
on hssdinSs centrel.
esJ.he enormnt:a - rnings cI the steel
4 sa1a,.noratio6 ars dGc not 20 : degrse oe
x ssSss