The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1912-05-13
Former Richmond Man Tells
Government lnquisitors
the History of the Tinplate
Industry.
HAS VERBAL CLASH
WHILE UPON STAND
Refuses TO Tell ]. nj. Dickin-
son, Y. S. Attorney, the
Amount of Stock He Owns
in Steel Trust.


NEW YORK. May l3.-Daniel G.
Reid, the tinplate king. formerly of
Richmond. Indiana, and director of
the United States Steel corporation.
was today summoned as star wit.
ness in the government suit against
the steel trust. Mr.. Reid was called TO
tell the story of the organization of
the tinplate company and its absorp-
ton by the steel company. Also. IL
was expected he would throw further
light on the system pools formed TO
maintain prices on steel products and
TO limit and control the volume OF
production.
John A. Brown presided as exami-
ner today in the absence of his father.
Henry T. Brown. who was detained in
Philadelphia by a law suit.
Within a minute after he had taken
the stand Mr.. Reid fatty refused to
tell former secretary of war ]. NJ.
Dickinson, the governments chief in
quisitor. the amount of his holdings
in United States steel stock
Are you member OF the u. s.
Steel corporation?" asked Judge Dick
inson.
II am" replied the witness.
How much of it's stock do you
own"
6alks At Question.
Richard V. Lindabury. chief counsel
for the steel corporation. promptly en-
tered an objection, which was cut
short by Mr.. Reid, declaring. II refuse
to answer"
Mr.. Reid gave his age as So and In
answer to a query as TO what his busi-
| ness was, he replied, 81 am chairman
OF the Rock Island board" He said he
| was president of the American Tin
plate company of Elwood. Ind. prior
to the organization of the American
Tinplate company of New Jersey in
1898, when he became president of
that corporation. and held the office
until the company sold out to the
| steel corporation. He traded his tin
i plate stock share for share for U. s.
Steel corporation stock, he testified:
accepting the valuation OF s125 per
share placed on the steel stock. Mr..
1
the tinplate corporation was absorbed
the steel corporation offered cash to
all of the subsidiary plate companies
| for their stock.
Did you take cash." asked Dickin-
son.
NO" replied Reid. but could
have had IL IL I wanted it,"
Did you state about that time that
the United States Steel stock was
worth four times the actual values
your companies asked for their proper
| ties?"
Could Not Remember.
| Il don't remember. That was thir-
| teen years ago"
| The witness declared that no formal
arrangement had been made prior TO
the forming of the New Jersey tinplate
concern. Under Dickinson's probing he
did finally admit. however. that there
had been some sort of preliminary
conversation about organizing the New
Jersey company between himself and
Judge William II. Moore. Mr.. Reid de
MED all knowledge of pools in the tin
plate industry. He said that the only
meetings to pass on prices that he
ever knew OF were annual meetings
held in Pittsburg in June TO discuss
the price scale for the ensuing year.
and he declared that these meetings
had been held ever since the tinplate
industry had been established in this
country.
Dickinson Gets Angry.
Judge Dickinson became angered By
Reid's inability TO remember some of
the things the government wanted par
ticularIy to know. and there was a
sharp clash between him and counsel
for the steel corporation Dickinson
had asked Reid regarding a contract
or agreement restraining those manu-
facturers who sold machinery to the
American Tinplate company from
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