Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1912-08-02

the majority of the committee of the
house Of representatives directed more
than year ago to investigate the
United States Steel corporation was
submitted to the house today by Rep
resentatiye Stanley, of Kentucky
chairman of the committee.
The report was signed by the chair
man and Representatives Bartlett, Of
Georgia; McGillicuddy, Maine: Beall
Texas, and Littleton, New York, dem
ocrats; Representative Garner, Massa
chusetts; Danforth, New York
Young, Michigan, and Sterling, Hi
nOis, republicans, dissented from the
report of the majority. Representa-
tive Sterling submitted his individual
views in a minority report and Rep.
resentative Littleton, democrat, dis
senting from the recommendation OF
the majority for amendment of the
Sherman antitrust law, filed hie
views.
I Representative Gardner and Dan.
forth will unite in another minority
report which Representative Young
will sign and add to it his own find
ipgs as to the facts surrounding the
organization and operation of the
steel corporation.
/ 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
suggested as remedial the democrat
ic members of the committee make
general accusations against the men
responsible for the organization.
J, P. Morgan and his associates are
held up as being the beneficiaries OF
enormous profits realized from the
over capitalization and matter Of ne
corporation itself.
Judge E. H. Gary and his dinners
to steel manufacturers are credited
with scheme by which prices and
territory were controlled by the steel
trust after pooling agreements We're
discarded.
Former President Roosevelt Is in.
dicted for making the control of the
steel trust absolute and is charged
with being responsible for the gigan.
tic stature which the trust has at
tanned
( The United States steel corporation
flayed as an enemy of organized Ia
Dor, accused of lowering the sociolog-
ical conditions of its employees and of
contributing to American industry
Workmen and work methods un-Amer.
ican and foreign to the best interests
of labor
Principal stockholders of the steel
corporation are accused of exerting a
powerful and injurious influence on
the business of the United States by
means of control exercised through
interlocking directorates of railway
and industrial organizations.
The activity of the corporation in
politics is laid bare and its influence
described, 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 demo-
Gratis.
The committee recommends legis-
lation to cure trust evils and to meet
existing conditions. 1t condemns the
steel corporation but does not invade
the jurisdiction of the United States
court in which there is now pending
a government suit 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 detemin.
ing the questions involved in the ac-
ton brought by the government.
The governments suit is to discov.
er if the United States steel corpora.
ton is "in violation of the Sherman
antitrust law"
In summing up it's conclusions the
majority report says:
THE control of corporations by the
federal government, as recommended
by Mr.. Carnegie, Judge Gary, and 9th
ers, is not approved
THE abuses mentioned in this re.
port can in great measure be rene.
died by giving to the operations of the
United States steel corporation and
other like corporations the widest
publicity, and by the strict enforce
ment of laws specifically inhibiting
the employment of cunning devices
by which an unfair advantage over
competitors is secured. The bureau
OF corporations possesses the authori-
ty to thoroughly investigate the inter.
nal affairs of industrial concerns do
ing an interstate business. Had the
character of the steel corporation
and the nature and extent of its op-
erations been known to the people
and to the president of the United
States at the time of the absorption
of the Tennessee Coal and Iron Co.,
it is highly improbable that the chief
executive would in 20 minutes have