The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1912-08-03

Federal Government as recommended
by Mr.. Carnegie. Judge Gary and
others In not approved Whatever
may be the evil results Of the elimin-
alton OF competition from the steel
business. IL Oes not Justify such a
remedy and could not be cured by II.
Such q eontrol. semLsocialistic in its
nature. Il beyond the power vested
by the constitution IN tho Federa,
Congress.
The abuses mentioned in this re
port can In a great measure be rene.
died by giving TO the operations OF
the United States Steel Corporation
and Other like corporations the wild.
est publicity. and by the strict en-
forcenent of laws specifically inhibit-
Ing the employment OF cunning de.
vices by which an unfair advantage
over competitors is secured. The Bu.
eat OF Corporations possesses the
authority to thoroughly investigate
the internal Affairs OF Industrial con.
Germs doing an interstate business.
Had the character of the Steel Cor
porat.on and the nature and extent OF
its operations been known 10 the PEG
pie and TO the President OF the United
States at the time OF the absorption
OF the Tennessee Coal & Iron Co.
IL Is highly improbable that the Chief
Executive would In 20 minutes have
given his consent 10 a merger fraught
with infinite injury TO the steel indus
try and to the public alike.
THE commissioner OF corporations
should DO required to report 20 con.
gress as well as TO the President OF
the United States at such times and
upon such conditions as IL may pre-.
scribe. and the law creating this bu.
reau should be so amended as to
make such reports mandatory upon
The commissioner Of corporations.
Enormous Earnings.
The enormous earning OF the Steel
corporation are due not TO a degree
Of i~ntesgration OF efficiency 0 pos.
sessed by its competitors. but to the
ownership of ore reserves out OF all
proportion TO its OUTPUT or require.
ments. and to the control and opera
ton OF common carriers, divisions of
rates and the liberal allowances OBJ
tanned from other concerns through
inequitable and inordlnate terminal
allowances. The business of produc.
ton and transportation should be alb
eolutely separate and distinct. and no
Industrial c should be permit
ted to own or operate al interstate
carrier.
The attorney general of the Unit.
ed States and his suoordlnates
should not be permitted TO exercise
IN absolute discretion as 10 the in
Stitution of proceedings under the act
of July l. 1890. known as the Sher-
man antitrust act. or other acts pro-
hibiting combinations in restraint of
trade. The parties injuriousiy az.
fected by such combinations should
have access TO the courts and the
benefit Of adequate and sufficient
remedies for wrongs inflicted by
such combinations"
Legislation Recommended.
The legislation recommended by
the majority consists OF three bills.
One Of them. commonly known as the
Brandeis bill. is designed TO give an
injured party the right to institute
suit TO prevent the organization OF a
combination in restraint Of trade. This
bill also transfers the burden of proof
TO the defendant corporation TO show
that 1t is a combination within "rea.
sonable restraint OF trade" The bill
recommended by the committee has
long been pending before congress.
having been introduced by Senator La
Toilette and Representative Lenroot.
Another bill would provide hat mo
person who is engaged as an indi
Nidual or as a member OF a partner
ship. or as a director or other officer.
or an employee OF n corporation. in the
business. in whole or in part. of manu-
featuring or selling railroad cars or
locomotives. or railroad rails or struc.
iural steel. or mining and selling coal
shall act as a director or other officer
or employe Of any railroad company
which conducts an interstate com.
mcrce business"
The third bill is intended 10 hit al
the system Of intcrlocking d~irectorates
and would separate Industrial from
railroad business.
The investigation.
The steel trust investigating com
miitee was authorized 10 begin its
work on May {. 1911. Since that date
II has heard many Witnesses and made
many trips of inspection and inyosti.
cation Among the witnesses heard
have been O OF the great American
tnancicrs ~ the present age. with the
exception of J. Picrponf Morgan An.
drcw Carnegie. +. H. Gary. George
W. Perkins. James J. Hin. the late
John " Gates and others prominent
in tho railway and steel world were
heard a. length. The committee took
thousands of pages of testimony and
spent many thousands Of dollars.
During the progress of the hearings
q difference o. opinion between the
chairman. 4 o. Stanley. Of Kentucky.
and Representative Gardner OF Massa.
Chusotis caused q near fist fight and
a. ono stage Of The proceedings Geo.
W Pcrtins or New York. Vas threat.
cncd with n iail sentence for declin.
!Gc 90 answer Cd question 90 to he con.
trilutlons 20 the Republican campaign
In zoos. Later Tho chairman Of fhe
committee Mr. Stanley. Withdrew tho
question
Tho .f.-' ~ fhc committee q, master
80 moves ~ f.e Nuanricrs who ror-
.rItsi ar1 c~fcHufJed ffe steel .orrorr-
tlHr resulted in r mass ~ rcurca which
showed enormous profile fn those uHp
'fr f'"r,.t"d ir speaking m water
OF .fI.sr fHf r.nN|r.fE Comment o.
wa-ered stocks.
If ."H .f.n|fH af we're ruf
.rafrrsI .r fir org NOR. a-rerfan.e ~
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