Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1912-07-30
Republican Members Of the
Steel Investigating Com
mittee Report Plan for
Dealing With Concerns.
LABOR CONDITIONS
IN PLANTS ARE BAD
Committee Would Abolish
Seven Day Shift Of y
Hours and Substitute An
Eight Hour Work Day.

washington, D. c., July "a rec
ommendation favoring the legallzatloh
and regulation Of big industrial con-
Germs. instead of their dissolution was
submitted to the house today IN re,
mort by three republican members ol
the steel investigating committee. Inc
report was signed by Representatives
Gardner of Massachusetts, Young OF
Michigan. and Danforth Of New YORK.
Representative Young submitted an
additional statement, and Representa-
tive sterling, Of Illinois, who believes
IN dissolving the big combinations WILL
submit separate report.
The report advocates the creation
az an interstate commission Of indus
trv to be clothed with extensive pow
ers OF regulation, and with power TO
fix reasonable prices for the output OF
cornorations. 70 The report would re-
ouire that all corporations capltah2eo
at s50,OO0,000 or more operate unde,
charter to be issued by the onlteu
States, before engaging IN 1nuerstate
commerce. Smaller corpora.lo4,,
might avail themselves OF the 1ederat =
charter at their own option.
All corporations availing themselves
Of the United States charter Wouio De
capitalized at their actual yalne.
The report does not spare the steel
trust or it's organizers =. T. Morgan
& Co., are credited with q proh1 oI
S62.50o, 1000 for underwriting the Or
SANITATION Of the United States steer
corporation Labor conditions IN tne
steel mills are declared to be bad ana
suggestion is made to the corpora.
tion to improve them by working mill
hands in eight instead Of twelve nour
shifts.
The report thus summarizes It's
findings:
81 400, 100000 Of which nearly one-nalf
was water.
"The average annual earnings of the
corporation have been from II to IL
per cent of the actual value OF It's
"The corporation controls little
ever one-half the crude and finished
steel business of the United States
"The average wholesale price OF
steel products has fallen of since the
corporation was organized.
.The corporation and all the inde.
nendents have an understanding as to
prices.
"The system Of interlocking director
ates has tnsidious consequences and
facilitates inside management and
the sitting Of competition.
"The situation as to iron-ore supply
is grave and may become menacing.
Labor conditions in certain de.
partments of the steel industry are
bad"
Recommendation Made.
Many recommendations are submit
ted although no bills have been pre-
parea. The working out Of the plan
contemplated is left to the future. The
minority epitomizes it's recommends.
tions as follows:
.All corporations exceeding $50,000,.
900 in capitalization or valuation must
become United States corporations be-
fore entering interstate commerce.
For smaller corporations United States
charters are voluntary
'.All United states corporations must
be recapitalized at their actual value.
can Interstate commission of indus.
try. like the interstate commerce com.
mission. to be established publicity to
be provided for.
"When the price fixed by United
states corporation has been found to
be unreasonable, the interstate COM
mission Of industry must publicly de-
clare that fact and recommend q
reasonable price.
"Interlocking directorates and hold.
ing companies forbidden except when
permitted by Interstate commission OF
industry
Right to Fix Maximum Charge.
"If the foregoing recommendations
shall prove insufficient to meet the
trust problem, the interstate commits
sion of industry ought to be given a
carefully guarded power to decree
maximum prices when necessary.
Industrial corporations not to own
common carriers.
Unreasonable restraint of trade
defined and burden OF proof OF 'rea-
sonableness' transferred to the de-
fendant.
"Individuals and states to have the
opportunity to intervene in govern
ment suito.
Extensive powers and instructions
(coSNnssS on Page 4, Col. 80 !