The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1912-01-23
PUBLICITY
PLAN NOT
ACCEPTABLE
STEEL MAGNATE. TELLS
HOW HE WOULD LIKE
1T DONE
Special to the Daily Leader.

4 Washington, Jan. 23.--James J. Far
rell president of the United States
Steel corporation, protested before
The Stanley steel INVESTIGATING. com
mittee Monday against unnecessary
q, publicity of manufacturers cost OF
N steel products in this country as
ulncus to foreign trade of domestic
manufacturers.
The steel corporation head also
discussed vita the committee the
&ry dinners and ideas OF trust
\ regulation which differed rom pre-
vlous statements made by Judge
Gary, Andrew Carnegie and others
President Farrell asserted that
the Garry dinners at which steel
manufacturers assembled to discuss
tho trade had no innuence in fving
orf maintaining prices, though he
thtuah they had influence in main
tanning the stabilit yof tle market.
Il do not believe" he said, that
the prices of any two steel manu-
facturers in the United States are
alike
why has Judge Gary said that the
day of competition has passed
asked Representative Bell.
Il think he referred to destructive
competition" said Mr.. Farrell AS
a matter of fact steel prices today
are very low. There is no doubt that
reports soon to be made of some cor
porations will show tnat they are not
getting the cost Of manufacture out
of present manufacturer
Farrell said: q believe that there
should be publicity of corporations;
that this shUrld chow profits and loss
es and gene cal conduct of business.
| think that there should be a super
vising board, but believe that it
would be impracticable, almost i'm
possible for a governmental Board to
Tx prices even to fix maximum
Drices. To determine the cost OF
articles manufactured in the steer
business alcne requires corps or
hundreds OF experts.
q would nave supervisory board
whica would have authority to inyes
tigate ell corporations for the pur
pose of preventing not only unusual
{ly Nigh rates but also unusually low
2rates which would result in reduced
wages and impairment of plants.
y Mr Farrell said he did not believe
Y rfsTr i-',r the Sherman law should be re-
aled but that it should be clarified
(that business men would know
w actly what to do under it.
When asked about statement be
fore the committee by Andrew Car
negie that it was obvious that there
was some sort OF combination among
steel men today to maintain prices,
President Farrell said;
ri mderstand that Mr. Carnegie
made that remark, but Mr. Carnegie
has not been in the steel business
fpr eleven years You ge-tlemcn
probably were surprised at the aler-
city he displayed in giving You the
Information you desired
This was the only positive state
ment he did make, said Representa-
tive Beatty, laughing.
Yes, about something ne Nne y
nothing about retorted Mr. Farrell
President Farrell told the commit
tee that steel rails in this country,
which sell for S2S ton, the bas';
price, supply only half the marker.
Special rails are made at higher
prices. He also urged more exper-
sive rails for safety:
Rails today" lie said. are 100
near the Danger zone of britteness
The liability of breakage and dangers |
is greater than in the days Of softer
rails. We should have rails with a
large amount of carbon and softer
steel They will be heavier and will
cost more