Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-01-22


them They may be in the custody OF the
officers of the subsidiary company"
The chairman said he understood that
the Carnegie records were in the vaults
Of the steel corporation.
Representative Young suggested that
the subpoena for the Carnegie records De
served on an officer Of the subsidiary
company.
u understand said Chairman Stanley.
THAT the subsidiary companies must get
the consent of the corporation ofnclais
about all these matters and If these rec
ords are in your corporations custody.
YOU would have no objection TO turning
Them over to the committee. would you,
Mr.. Farrell
II have no knowledge whatever OF
them said Mr.. Farrell
But Won have no objection To turning
them over if they are found asked the
chairman. -
eff they can be found they will be
turned over to the committee, MI. far-
FeIl replied.
.-4.'Then the committee will issue sub
loena duces tecum for these records on
A. =. Dinkey. president Of the carnegie
Steel Company" declared the chairman.
Steel Men Will Be Summoned.
EKeeor,Is Of the Illinois Steel Company $
Executive and finance committees, asked
for tn. same reason that he did not pro-
.uce the Carnegie records.
Chairman Stanley ordered q subpoena
issued for r. j. Burlington, president or
the Illinois Steel Company.
similar records asked of the Universal
Portland Cement Company. National
Steel Company, Lake superior Consolidat-
I'd Iron Mines and other subsidiary cor
l'orationS were not produced. sub
poena duces teculn for the cement COM
vsA6 an
Edward NJ Hagar of Chicago, president
Of the Universal Portland Cement Com
pany one for A. q. Dinkey for the Ma
tional Steel Company. and one for the
president of the Lake Superior CONSOLE
dated Iron Mines.
Other Records Not Produced.
President Farrell failed 10 produce
minutes and records of the Pittsburgh
steamship Company, the Duluth, Missabe
and Northern railroad and other sub
sidiary transportation companies of the
steel corporation.
II can only say" said Mr.. Farrell.
that these records are in the hands of
the subsidiary company officials. | can
give You the names of the officers.
Well" said Chairman Stanley, If
the president Of the steel corporation
directs that these records be turned
over To the accountant of this commit
tee they will be. Will they not?"
Il have no such function. said Mr..
Farrell My duties are confined to the
manufacturing and commercial depart
mentS."
Well who is the officer of this holding
company who can say L will or l will
not turn over these records? contin-
ued the chairman. That's what l want
to know
Subsidiary Officers Control Records.
Mr.. Farrell again replied that the sub
sidiary officers had control of them
The chairman then ordered a subpoena
dGces tecum served on W. a. McGonigle.
president Of the Duluth, Missabe and
Northern railway. and officers of other
transportation companies controlled by
tine steel corporation. 1t was also agreed
that the books be turned over to Mr..
McRae. the committees expert. in New
York, instead of being brought before
the committee. Mr.. McRae was author
lied TO make report on his findings to
the committee.
Mr.. Farrell had been asked to produce
a letter that he. as export sales agent
of the corporation had written to Will
liam r. Corey. then president of the cor
poration. in 1903.
Mr.. Farrell said he could not find this
letter despite diligent search
Care of Export Business.
Il have a recollection" he added.
e-that the letter contained suggestions
about establishing a branch or subsid-
iary company TO take care of the export
business. Many of the subsidiary COM
a,anies had foreign Offices scattered all
over the world. | urged their consolida-
tion. The letter. as l recall. also con-
iained suggestions as to methods of con-
slucting the foreign sales department.
sFhe idea was purely one of economy
stnd efficiency.