The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1912-02-01
EXISTENCE BENEFICIAL
IN GROWTH OF INDUSTRY.
Rockefeller, Carnegie, Converse
and Directors Deny Concern
Is Monopoly.
Declare Theodore Roosevelt Knew
Every Fact in Acquiring
L. {. & |.

| TRENTON. y. J.. Jan. 31.-Abso-
! lutte denial of alleged violations OF
the antitrust law is made by the
United States Steel Corporation. its
subsidiaries ard directors I'm their
answers which Will be filed tomorrow
morning in the United States district
court here to the governments disso-
lution suit. Five separate answers
will be filed among So defendants.
The effect Of its organization. the
corporation declares. has been TO
cneapen production effect economies
and Increase foreign trade from
sS.OOo.OO0 t. sG0.000.0OO annually with
in ten years. So long has the gov
eminent acGuiesced in it's existence,
the answer says. that II is now too
late. as matter OF equity, to insist
tnat It's organization is Illegal
Nothing was withheld from Presi-
dent Roosevelt by Messrs. Gary and
Frick on November 4 1907. the answer
says. when they sought his consent TO
the corporations proposed purchase
OF the Tennessee Coal. Iron G Rail-
road company. nor were the so-calIed
Gary dinners productive OF agree
ments To regulate prices
Finsneiers Deny Charges.
The answers made public tonight
are those of the Steel corporation. An
drew Carnegie. John u. Rockefeller,
Sr.; John ID. Rockefeller. Jr. and Ed
mund Converse. The Rockefellers
made joint answer
Tho Messrs. Rockefeller deny that
hey had an active part in the forma-
tion or management of the corpora
tion. the elder Rockefeller declaring
that he has had no immediate relation
TO the iron or steel business since
1901. lie says that his only relation
10 the corporation WAS his sale OF tho
Besscmcr Steamship company's lake
fleet To the corporation for cash and
the sale of his interest nearly the
whole in Lake Superior Consolidated
Iron mines. which owned extensive
ore properties in Minnesota.
Mr.. Carnegie says he had no part
in the plans Tor organzins The corpo-
ratior and no VOICE direct or ad-
VIsoVy. IN rs management. He al
mit'ed selling ~" Carnegie Steel COM
pany to the United States Steel cor
pcration. but denies that the ecquisi-
;icn by the Carn"ri" company by its
subsidiaries was IN restraint Of trade.
Competition Not Destroyed.
The answer Of Edmund &. Converse.
a director of the United States Steel
Corporation. Is similar 10 the corpor-
atoms answer. ~" denies that COM
petition in the steel industry has been
suppressed since the formation OF the
steel corporation. hut on the other
2 hand asserts that II has increased so
that the proportion OF tho business OF
the country is done 10y the steel cor
poIatiou is now less than 20 per cent.
He denies that there has been or Ia
any system Of so.callcd interlocking
directorafcs or financial alliances TO
contro. the steel industry.
Mr. Converse denies further that
the purchase of th" Tennessee Coal &
Iron Company stock was made for tho
B. purpose OF eliminating competitor
or of strengthening the control by the
steel corporation of the ore supply ot
thr country: cr that there was any
deceit. suppression ~ facts. couspira-
cr ar unfair dealings IN connection
with The acquisition of that stock
No Ove--capitsli-ation.
With reference fo fhe equalization
% The sf.', corporation. VI Converse
denies that 10 is iu excess ~ the real
value ot if- Iropcrf"-. and declares
'hA' fhsrn .- M Pa .- - the govern
mer's claim tAaf fif- profits ~ tho
corporation l1ts l..r SD l.lh as to
iul .rl.. fhe e2.-f'rra 90 monopoly.
Tho s'r.. corpo-afiof.. bis answer
also .''s ur has been orrinizcd and
has luI' r. irrr rsf and developed
if. proper .la u.fr tho FrnuI.dEe %
ffr government ans ulfinlf objection
hf fNe govern rsr. fha' hundreds -
'f0u-arfs o- r of r.frsns q
OBJ. fr.tef SfH-e- ard foreign coun-
fr.. .ate Invested .r r- securities.