Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-05-13
First Defendant Called in Steel
Trust Suit.
DECLINES TO NAME STOCK
Denies knowledge of Pools in Tin
Plate Industry.
HIS MEMORY FAILS HIM OFTEN
Frequently "Does Not Know" and
"Does Not Remember" Facts Con-
corning Organization.

NEW YORK, May 13.-Daniel G. Reid.
the railroad fipancier, a director of the
United States Steel Corporation. and
member of its finance committee, was
called as a witness at the resumption
today Of the hearing in the government
suit to dissolve the corporation before
Commissioner Brown.
Mr.. Reid is the first defendant to ap-
pear on the witness stand. He was ask
ed to testify concerning the organization
of the National Steel. the American Tin
Plate, the American Steel Hoop and the
American Sheet Steel Companies. in which
Mr.. Reid. together with William H. Moore
and ]. HI. Moore. were the dominant fac
tors before the concerns were taken into
the so-called trust. Reid and William
H. Moore both became directors of the
corporation upon the absorption of their
companies and have been so ever since.
The government contends that all four
companies were themselves illegal COM
binations.
Declines to Detail Stock.
Mr.. Reid gave his business as chair
man of the Rock Island and Pacific rail-
road" He said he was a stakeholder OF
the United States Steel Corporation, but
declined to say how much stock he held.
American Tin Plate Company, and said
that he had exchanged his holdings for
shares in the steel corporation.
Mr.. Reid was asked to describe competi-
tive conditions among the constituent
companies of the American Tin Plate
Company, before its organisation in 1895.
Judge Dickinson of counsel for the gov
renment read from list about thirty
five of these companies and asked the
witness If they were all engaged in inter-
state commerce and in competition with
each other.
Mr.. Reid replied they were. and ad-
mitted he took part in the organization
OF the tin plate company, but denied his
tin plate companies were engaged in any
pools.
Fixed Wages, But Not Prices.
ton that the tin plate makers had
met every year to fix the wage sched-
ule Of employees. but these meetings
Thirty-nine plants operating 200 mills
pany, he said, which represented about
80 per cent Of the tin plate industry.
Mr.. Reid frequently did not know
or could not remember" when ques.
tiOHeu concerning payments Tor STOCK
and other facts connected with the
formation OF the tin plate company.
1t Is the governments contention that
the American Tinplate Company's stock
was watered. The total capitalization
issued. Mr. Reid said; was about $46-
O0.OOO of which $1O,OOO,OOO went to the
syndicate managers for putting the deal
through. and to the owners of the various
mills as a bonus. : ~
State whether. there was q rise in the
70 inn 10 fnl fl,o
| formation of this company in 1885, Judge
Dickinson said.
Mr.. Reid surprised Judge Dickinson by
producing a book containing tables of
tinplate prices.
Il anticipated that I'd be asked that
question: smiled the witness. THE aver
age price of coke plate was 1923 hum
dredweight in 1897, $3.50 in 1893. $4.41 in
1899, 81 81 in 1900 and $4.35 in 1901" Its
highest price in 1899 was $4.S5, he said.