The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1912-05-16
RE|D'S MEMORY
IS TREACHER0US
Steel Trust Magnate Proves an
Unwilling Witness.
SAYS "MIND IS TOTAL BLANK"
Tells Development and Growth Of Tin
Plate MISUNDERSTANDING Was Not
Formed for a Mo-
... nopoly.

New YORK, May la can leaQ
horse to water, but / can't make him
drink. / can compel the attendance
of witnesses at this hearing, but l
can't make them remember" ...
Judge ]. NJ. Dickinson snapped this
at the steel trust attorneys when they
objected strenuously to the line OF
questions he put to Daniel G. Reid,
organizer of the American Tin Plate
company, which he was instrumental
in merging with the big combination.
Mr.. Reid is one of the most infiu-
entail directors Of the steel trust and
was the first Of that corporations gov
erning board to be called as witness
in the governments dissolution suit,
testimony in which is being taken be-
fore Special Examiner Brown in the
customs house.
Memory Proves Faulty.
The governments chief prober had
striven vainly to refresh Mr. Reid's
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 fiat
ly refused to answer.
Mr.. Reid told an interesting story OF
the rapid growth of the tin plate In
dustry in the United States from a
small beginning which he and w. B.
Leeds, with the assistance of Judge
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,
was effected This had been done
mainly by an underwriting syndicate,
of which he was a member.
Only Two Big Concerns Omitted.
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.
81 don't know" the witness an
! swered. Il only heard gossip about
other men in the agreement"
Says Mind Total Blank.
Did not the American Tin Plate
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 cross-examination.
We did not" replied Mr. Reid. I'VE
went into 1t to reduce overhead
charges, lessen the cost of production
and so forth"
Competition Is Strong.
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.
Mr.. Rel said he thought a total
stock issue Of s46.OO0,00O had been
made by the American Tin Plate COM
pany when the merger was formed.
IF it took S36,0OO,O00 to buy the
other concerns. what became OF the
other s10.0OO.0O0 Of stock?" asked
Judge Dickinson.
Il don't know" Mr.. Reid replied.
adding Il suppose the underwriters
and syndicate managers got It."
Did you get any OF it,"