The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-02-01
ABSOLUTE DENIAL
MADE BYU. s. STEEL
tcontinued from FIRST page).
now held by a multitude OF small In
festors in this and foreign countries.
Too Late for Action.
lie defendants then submit:

The defendants then submit:
Ihat after ocquiescing in the organ
Sanizat!cn OF the Steel Corporation for
SO long time and after rights of so
sacred character have grown up
hereunder, II is now too late for the
government to insist in q court of
equity that such organization was in
itselt and without regard to its after
practices an Illegal thing"
The answer further declares that the
proposition TO purchase a majority OF
the stock of the Tennessee Coal and
Iron Company came from Grant B.
Schley. and was taken up on account
and only on account of the representa-
sions made on behalf of said Schley
that nothing but such purchase would
save Moore & Schley from failure.
Messrs. Gary and Frick OF the steel
Corporation went 10 see the President
OF tie United States on November s.
1907. and laid the situation before him.
The answer denies that Messrs. Gary
and Frick failed to disclose to the
President all the facts bearing upon
the proposed purchase or the occasion
Tor making the same. which were per-
tnent thereto. or that they made any
Inisstatement or misleading statement
OF any sort or character to the Pres
in New York or regarding tho wishes
or attitude OF themselves or the Steel
Corporation with respect to the pro-
posed purchase" II admits tina: the
President stated that he did not feel
II TO be his duty to prevent the pro-
posed transaction, and say that in reli-
anoe unon said statement Messrs Gary
and Frick returned to New York,
whereupon the purchase was comnlrt-
cd. The answer denies that the Ten
nessec Comnanv was a strong present
or proha be future connection OF the
steel CORPORATION at the time Of its
acquisition by the latter"
ENCOURAGES Competition.
The answer says that Continuously
Stree the organization OF the Steel
Corporation II has been the declared
and consistently followed policy OF
said eorTSrht ton 10 encourage rather
than 20 restrain the utmost freedom OF
Trade and commerce: 10 refrain from
acts Of oppression or Injustice TO the
councillors of said CORPORATION: to alb
stain from efforts to harass such com
petltors or 10 exclude them from their
fnir share OF interstate or foreign
commerce, and to take no steps intend
Cd OF calculated to prevent the growth
Of other and further competition, and
throughout the industry and 20 .he
public generally and the government
since the organization OF the Steel
Corporation"
Referring to the meetings OF the
steel manufacturers, Familiarity known
ms the Gary dinners" the answer say.
that at none of these dinners IVA.
there any attempt to reach any agree.
lnent or understanding with rcspcc
either to output or prices. nor wa.
nuything said Or done which was cal
culated or intended to suppress com
petition or restrain trade. and .her,
never was nor is there now any suci
agreement or understanding"
The concluding portion OF the an
sTer is as follows:
They derry that they have ever v!o
lated or attempted or intended 10 VIC
ate the antitrust act or any provisions
thereof. And they particularly den,
that they arc now engaged in vi6latin,