Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1912-01-16
CARNEGIE UPHOLDS
ROOSEVELT VIEWS
ON TRUST PROBLEM
FavorS Federal Regulation of
Corporations, as Suggested
by Former President, in Pre-
ference to Dissolution
~ Asseeiatsd Prsas.l

dent Roosevelt on the trust question
and I am inclined TO agree with him.
said andrew Carnegie before the steel
trust investigating committee t0day.
REPRESENTATIVE Gardner. Of Massa-
chuserts. had eontrasted Those views
with ideas expressed by President tart
in his recent message on the trust ques-
ton
IN The solution OF the Industrial psoo-
t-m.- said Representative Gardner
there are two leading thoughts before
ms President Taft. in his recent mes
sare. expressed the. view that dissolution
o. large units should 80 90 The olher
line Of thought. as expressed oy -or-
mer President Roosevelt. Is mat under
tne existing sherman Law We should
look to regulation OF large units con-
trolled BY the goztamenL l. which
class are you Mr.. Carneglsf
FAvoRs REGULATION
4 have agreed with Mr. Rooseveirs
views 1 think for the present that yoa
should allow large organizations TO eon-
tiutie and 70 see how we get alonS, and
that YOU pass laws regulating these o.
lsanizations Then you should be patti
ent and see what further legisla- IN
may be necessary. 1 do 7or think the
SHERMAN law is drastic enough GIVE
Us q clear. unmE taxable law and be-
liexe we wiz steer clearly
do you believe dissolution OF the
United States Steel corporation would
lessen the price OF steele?
I DO not believe 1t " ouid- Il de
pends. of course. upon what the court
might do"
suppose congress does not take the
step that you adviser
My opinion Is that congress win see
the necessity for more government con-
troll
WANTS FEDERAL COMMISSION.
Mr. Carnegie said q government com
mission should have power to- regulate
prices from month TO month. allowing
capital q reasonable profit, thus exact
ing AN ideal condition between capital
and labor, producer and consumer
You cannot organize new steel com
panies IN this country now" he said.
New men couldn't ind ore. Don't run
away with the idea that the ores OF Ten
nessee are OF a value equal 70 the Su-
perfor ores The elements in that ore
are not there" he said Mr. Schwab was
correct IN saying that while they could
make pig iron cheaper in Birmingham
there we're no available ores In that dis
trict not already controlled BY present
naanufaetnrers.
Represent ative EsardnsF said the steel
corporations cancellation o. the iii
lease Of the Great Northern ores would
be basis for new company.
1T is my opinion said AFR. Carnegie,
sfhat the united States Steel corporation
Is giving up those ores for no other rea-
son lhau that they hlIes come TO the
conclusion il Il an Improbable invest
ment"
II. REED SUMMONED.
The COMMITTEES today served a sub
Pena on J. II. Reed, OF Pittsburg. Mr.
CarRegse's counsel Reed was Secretary
OF state Kiiox's partner as counsel for
the Carnegie company In lssO-lso, when
,stne com any IS declared to have been
rarty 70 Illegal pools
Though the quizzing OF Mr.. Car
0egie u has developed nothing new
20 Tar as the subject under investiga-
tion is concerned. Chairman Stanley
and, his colleagues were determined 70
keen Mr.. Carnegie before them In the
hope that they. may find something OF
value 70 them upon which the disglp-
guishsds witness may find his memory
~refreshed-
4 know nothing about the affairs of
the steel corporation Mr.. Carnegie has
repeatedly told the committee Il have
not been inside Of a steel mill since l
retired from business in 1901 and for
years. before that my partners ran the
business Of the Carnegie company.
knew nothing OF its details. 1 am anx-
ious to tell you all 1 can TO help yeu
in your great work"
PATRIOTIC CITIZEN.
When he asked to be excused at the
close OF the hearing yesterday and was
informed that there was so much which
the committee desired TO ask him that
his presence would be necessary today,
Afr. Carnegie appeared somewhat impa-
tient l
-AII right" he said. 7 win be here
j am patriotic citizen. and wish to DO
my share in aiding this great work 1
viii do all 1 can 70 help you"
The committee room was crOwocd
again today when Mr.. Carnegie arrived
for the third day OF his attendance.
Members OF the committee planned TO
question him further about his rela-
tions with the attorneys for the Carne-
gie company, among. Them Secretary
Knox. who Mr.. Carnegie said yesterday
never had acquainted him with any facts
concerning the Sherman antitrust law
RECOMMENDED KNOX
Pressed hard today by members Of
che house steel investigation commit
tee. Mr. Carnegie admitted hes-scom-
Enended the appointment Of Philander
g. Knox. the present secretary Of state,
as attorney general in President Nc
Kinleys cabinet in 1901. Mr.. Knox hav-
ing been one OF the chief counseiiers
for the Carnegie Steel company sin"O
1880. when. the sherman antitrust Law
was passed.
AR. Carnegie repeatedly had declares
before the committee he never knew
the participation OF his company In the
steel plate pool. and other like pools
vas unlawful. and Representative Me-
Gillicuddy. OF Maine. sought TO show
that ne had recommended to PresidenS
Mckinley the appointment Of Mr.. Knox
after The latter. as counsel or the CON-
pany. had let him IN ignorance OF the
government statutes many years.
Mr.. Carnegie also told the COMMITTEES
he believed no protective tariff was
necessary on steel rails or steel prod
mcts with the exception OF needles thar
are not manufactured in this country.
He asserted that congress need have M
fear that foreign rails win flood the
United States If the tariff were re-
moved
Cots &16 nm Vprdicf