Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1912-05-30
REDS MEMORY
IS TREACHEROUS
Steel Trust Magnate Proves an
Unwilling Witness.
SAYS "MIND Is TOTAL BLANK
Tells Development and Growth of Tin
Plate ndustry-Combine Was Not
Formed for Mo
nopoly.

New York, May 15.-When the law.
yers for the United States Steel cor
poration objected to his questions put
TO Daniel G. Reid, one of the most in
fuentiaI directors of the steel trust
and organizer Of the American Tin
Plate company, which he was i1stru-
mental in consolidating with the big
combine, while Mr.. Reid was testify
ing before Special Examiner Brown in
the governments dissolution suit,
Judge J. NJ Dickinson, counsel for the
government, heatedly exclaimed: Il
can lead a horse to water, but l can't
make him drink. can compel the at
tendance OF witnesses at this hearing,
but I can't make them remember"
The governments chief prober had
striYen vainly to refresh Mr.. Reds
memory by reading from the record Of
his testimony regarding the tin plate
industry in the investigation made IA
years ago by the industrial commits
sion appointed by President Mckinley
to make thorough investigation OF
every big industrial combination in
the country. The governments law
yer even asked the witness how much
stock he, held in the trust, but under
advice of the trusts lawyers he fat
~ refused to answer.
Mr.. Reid told an interesting story of
the rapid growth Of the tin plate in
dustry in the United States from q
small beginning which he and W. B.
CF IT,
W. H. Moore had made in Indiana.
This was in 1891, ten years before the
Steel corporation was formed. They
had bought up about 200 mills, he said,
before the merger with the steel trust
was effected. This had been done
mainly by an underwriting syndicate,
Of which he was a member.
In the formation of the big tin plate
company, which the government is
now attacking as one of the several
trusts within the steel trust, only two
concerns of any considerable cOnse-
quence had been left out, he stated,
but these had been taken in later.
Stock in the new concern was given
to the owners of the purchased prop
critics in most cases.
Who were your associates in the
underwriting syndicate or agree
ment?" he was asked.
4 don't know" the witness an
swered. Il only heard gossip about
other men in the agreement"
Did not the American Tin Plate
company enter into an agreement with
manufacturers of tin plate machinery
to buy their whole product, so that
your competitors could not buy the
necessary machinery"
81 don't remember. My mind is a
total blank on that subject"
Under pressure from the govern
ment's counsel Mr.. Reid said that
about the only living person who
might know about this matter is W. T.
Graham, now head of the American
Can company.
Did you and your associates go into
the American Tin Plate company to
monopolize the business?" asked Mr..
Severance on REORGANIZATION.
1--WE did not" replied Mr.. Reid. 1--WE
went into it to reduce overhead
charges, lessen the cost of production
and so forth"
He added that there had always
been strong competition since the or
ganization of the American Tin Plate
company and that this was stronger
now than ever.