The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1912-08-03
Steel TRUST
COMMITTEE At
LAST REPORTS
Long Congressional Investigation Is
Concluded With Report
to House
MORGAN & ROOSEVELT SCORED
Committee Declares that Former
President Made Control Of
Monopoly Absolute
MORGAN & ROOSEVELT SCORED


Of the majority of the committee Of
the House of Representatives direct
d more than year ago to investi-
ate the United States Steel Corpora
on was submitted to the House to-
day by Representative Stanley, Of
-entucky, chairman of the commit
tee.
The report was signed by the
thairnan and Representatives Bart-
lett, of Georgia; McGillicuddy,
Iaine; Beall, Texas, and Littleton
New York, Democrats; Representa-
ives Gardner, Massachusetts; Dam
orth, New York; Young, Michigan,
and Sterling, Illinois, Republicans,
1isented from the report of the ma
lority. Representative Sterling sub
mitted his individual views in a
minority report ahd Representative
Littleton, Democrat dissenting from
the recommendation of the major
lty for amendment of the Sherman
antitrust law, filed his views.
Representative Gardner and Dan
forth will unite in another minority
report which Representative Youns
will sign and add 10 1t his own find
.ings 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 incep-
tion and describes the various steps
by which j. p Morgan and his asso-
ciates built up the corporation, In
addition to recommendation for
legislation suggested as remedial, the
Democratic members of the commit
tee make general accusations against
the men responsible for the organiza-
ton.
j. p. Morgan and his associates
are held up as being the bencficiarieS
of enormous profits realized from
the over-capitalization of the sub
sidiary companies or the Steel cor
poration and later OF the corporation
itself.
Judge f. II. Gary and his dinners
to steel manufacturers are credited
with a scheme by which prices and
territory were controlled by the
Steel Trust afte~ pooling agree
ments were discarded.
Former President Roosevelt is in
dicted for making the control of the
Steel Trust absolute and is charged
with being responsible for the
gigantic stature which the trust has
attained.
The United States Steel corpora
tion fiayed as an enemy of organized
labor, accused or lowering the
sociological conditions of its EN-,
ployes and of contributing to Ameri,
can industry worKmen and work
methods un-American and foreign tc
the best interests of labor.
Principal stockholders of the Stee
Corporations are acusced of eXertine
a powerful and injurious influence
on the business of the United States
by means of control exercised
through interlocking directorates o
railway and industrial organizations
The activity of the corporation il
| politics is laid bare and it's influence
described, and the "steel trust" as ;
tariff beneficiary and its part In tn
making of the Payne-Aldrich tariff
act are touched upon by tn
| Democrats.
The committee recommends legis
lation to cure trust evils and L
meet existing conditions. 1t con
demns the Steel Corporation bu
does not invade the jurisdiction o
the United States court in whicl
there is now pending government
suit for its dissolution.
Early in its report the committe
sets forth that it would investigat
"as if no proceeding on the part .
the United. tSates government wer
now pending against said corpora
tion, but not for the purpose Of dc
i Itcrmining the questions involved L
the action brought by the govern
! ment"
The governments suit is to dis
cover if the United States Steel Cor
po~ation is ''in violation OF TIL
Sherman antitrust law"
In summing up its conclusions tn
majority report sasy;
THE control of corporations b
the Federal government, as recon
mended by Mr. Carnegie, Judge Gar
land others. is not approved. What