The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-01-12
STANDS Whit.
Carnegie Endorses ROOsevelt's $
Views on Trust Question
As Against Those Entertained
by President Taft.
A MORE DRASTIC LAW.
He Thinks the Sherman Statute
Is Too Mild.
Favors Regulation of Prices by
the Government.
A MORE DRASTIC LAW.

Washington, Jan. 12-"I am familiar
with the views Of ex-President Roose-
Welt on the trust question and | am
inclined to agree with him., said An
drew Carnegie before the steel trust
investigating committee today Rep
resentative Gardner of Massachusetts,.
had contrasted those views with ideas
expressed by President Taft in his re-
cent message on the trust question.
In the solution of the industrial
problem said Mr.. Gardner, there are
two leading thoughts before us. Pres
ident Taft in his recent message ex-
pressed the view that dissolution of
large units should go on. The other
line of thought as expressed by for
mer President Roosevelt is that under
ing -.4erman law we should
look to recognition of large units con-
trolled by the government In which
class are you, Mr.. Carnegie?''
4 have agreed with Mr.. Roosevelt's
views. 1 think for the present that
you should allow large organizations to
continue and to see how we get along
and that you should pass laws regulat-
ing these organizations. Then you
should be patient and see what fur
ther legislation may be necessary I
do not think the Sherman law is dras-
tic enough. Give US a clear, unmis-
taxable law and believe we will steer
clearly"
DO you believe dissolution Of the
U. S. Steel corporation would lessen
the price of steel?"
Il don't believe it would. 1t depends,
of course, on what the court might
do
suppose congress does not take the
step that you adviser"
MY opinion is that congress will see
the necessity for more government con-
troll
Should Regulate Prices.
Mr. Carnegie Sa id POVernn Pnt |
commission should have power to
regulate prices from month to month, |
allowing capital reasonable profit
thus effecting an ideal condition be- |
tween capital and labor, producer and |
consumer.
s'I think" he added, that dissolution
and disintegrahon would force COM
petition and a return to the system of /
price agreements. Given freedom of /
competition, all corporations or firms /
would endeavor to regulate prices.
"YOu can not organize new steel /
companies in this country now. New
men could not find ore. Don't run
away with the idea that the ores of
Tennessee are of a value equal to the
Superior ores. The elements in that
ore are not there
He said Mr. Schwab was correct in
saying that while they could make pig
iron cheaper in Birmingham, there
were no available ores in that district
not already controlled by present
Representative Gardner said the
steel corporations cancellation of the
Hill lease of the Great Northern would
be the basis for one new company.
4'It is my opinion" said Mr.. Carne-
gle, that the u. s. Steel corporation is
giving up those ores for no other rea-
son than it has concluded it's an un-
profitable investm ent-"
They Won't Let Him Go.
Though the quizzing of Mr.. Carnegie
has developed nothing new 50 far as
he subject under investigation is con-
cerned, Chairman Stanley and his col
leagues We're determined to keep Mr..
Carnegie before them in the hope that
they may find something of value on
which the witness may find his mem
Dry refreshed.
Il know nothing about the affairs
Of the steel corporation" Mr. Car
legie has repeatedly told the commit
tee. 81 have not been inside of a steel
mill since I retired from business in
partners ran the business of the Car
negie company. knew nothing OF
he details. I am anxious to tell you
what I can to help you in your great
work"
When he asked to be excused at the
close of the hearing yesterday and
vas informed there was SC much
which the committee desired to ask
lim that his presence would be neces-
;ary. Carnegie appeared somewhat i'm
patient.
''All right" he said, ''I will be here
am a patriotic citizen and wish to
10 my share in aiding this great work
[ viii do all 7 can to help you.'
Committee Room Crowded
The committee room was crowded
again today when Mr.. Carnegie arrived
-or the third day of his attendance.
Members of the committee planned to
question him farther about his rela-
ions with the attorneys for the Carne-
sie company. among them Secretary
Knox. who Mr.. Carnegie said yesterday
lever had acquainted him with any
acts concerning the Sherman anti
rust law
Mr. Carnegie and his attorneys, J.
A. and D. A. Reed. conferred with
senator Root of New York last night.
making the appointment. :
The committee today served a sub :
1oena on J. H. Reed of Pittsburg. Mr.. !
Sarnegie's counsel and president of the :
;teel corporations union and Pitts :
0urg, Bessemer and Lake Erie rail- Z
-oads. Mr. Reed was Secretary of
state Knox's partner as counsel for
he Carnegie company in 1S90-1900, ,
when the company is declared to have !
been party to Illegal pools.
Gigantic Trust Halted.
Cleveland. O.. jan. PA gigantic trust !
With holdings agEregating $500 600 and / {
controlling $40 Great Lake vessels was
'artly ORGANIZED in the autumn of 1911, Y
lays tOday's News. That it was not COM
oleted the story runs. was due to the I
government investigation Of the United +
states Steel corporation. !