Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-01-23
Former President William E.
Corey Of the Steel Trust
Testifies to Existence of
Agreement.
COMBINATIONS HELD
GOOD UNTIL 1905
American Manufacturers Left
European Field Open to,
Control Of England, France
and Germany.

tBS Leased Wire tO E,enlng Herald
New York Jan 3d. The United
states steel corporation and the Beth
lvh"m steel company participated Tor
four years in an international pool ih
Hrmur plate which divided up the
business of neutral markets VIII
liam n Corey. former president of the
steel corporation, testified SO today ~
the hearings IN the governments suit
tu dissolve IA" corporation under the
sherman uuti-trus, law u was th"
nrsi direct testimony WhiCh the gov
"rnmcnt has been ahl. tu obtain az to
the ,Nistvnc" of such pool
Nj COREY. who resigned as presi-
dent of the Steel corporation in 1910,
was unable tu recall today that the
Hrmor plate pool had existed until his
memory had been refreshed 10y the
reading Of minutes oi the carnegie
steel COMPANY quoting him AK sdvis-
ing against joining with the 'armoF
combination iu the erection of an
grmor plate plant IN Japan
This WAS Ia 1909. shortly after the
organization nf the steel corporation.
The witness then testified that "a COM
binatiou % armor plate manufacturers
In England. France, Germany and the
United states had existed a. late as
"ig0i or 1905"
i the bethlehem steel company were
/ the American members uf the cumbi-
nation, he said.
/ what was the agreement ut those
/ la the poo y" asked Judge Jacob NJ
/ Dickinson, attorney Tor the govern
mcnt
II was nos familiar with the de-
tails" said Mr. Corey, adding tha'
, Colonel Milard IIunsickcr, represent
atiVe ~ the Carnegie com pany abroad
conducted IN" negotiations
The witness testified that durins
/ the existence of the agreement th'
American members had not. 10 hu
know ledge, attempted tu compete fol
armpr plate either in England, Franc
or Gcrmany
Did the foreign nrms bad for nit
ed states government contracts h'
was asked
II helicV, that Il is pro, idcd by lay
that m" United states guvCrnmcn
contracts ir armor plate shall be- givcI
only TO- American manufacturer Wa
th' rtplN
Mr. Cur"y resumed hi, trstlmon
today ~ the hearing ia the govern
. mrutS suit to dissolve m" corpora
. iion. Ur Was questioned briefly con
ccrniug James 4. Farrell, now prrsi
dcut uf m, corporation, who Nj
Corey Said Yesterday conducted th
ucgUtiItluua fuT IA, formation OF IN
. international steel rail pool Jac,
NJ Dickinson, counsel iur th' govern
, nent then took up the question ,
th, difference between the dom"st
and export prices uf steel rails
WJs the min price ut dumcst
ilailS, subsequent tu tho formation
an" steel corporation, greater ur lr'
a. 4 Il.
~ want go bD accurate replied NJ
Corey. The mill price on forcig
business n"tted the producer less tina
on domestic business.
Then the domestic prig, wac higl
lcT''
Mr Coroy conceded that such ~,
IN eject the case.
A The government attorney took q
u thu competitive position ui the T,l
ncsscc Coal aud Iron company lu n
steel rail trade previous Go its absor
tiuu by ihr United States steel eco
iuuratiuu iu lHn1 Mr. COREY said tn
the Tennessee coal and Iron rompdi
was manufacturing open hearth ste
n rails, then prHcticallA ucW prrdu'
y Judge Dickinson read from mi
utcs uf m, Carnegie steel yompal
s letters written hy CuTry in which
( said that competition iu rails wac D
' vrcusing. ana that the carnegie uuf
~ pauN would hr uV against The up
u hearth prupusitluu la 1907 that q
Hartman lines hti given orders
's the bethlehem Steel company for up
hearth rails aud that "a, viii ha
tu manufacture them.
Mr. Corey smiiiuslS confirmed :
b. statements over the protests of
Is torne,s for th corporation. Tho v
,t ness also confirmed testimony M
is the llnTrimtu liu,- htd given ora,
%. iu thr Tennessee GOAL uud iruu co
i- puuy Tor open hearth rails Tu pro
h. that "a, Tenn $3.50, tuHi and IN
D. company, after US acquisition,
came % strong competitor in the =
market. Judge Dickinson gained ,
A., mission from the witness that az
y, lt, acquisition that company suppl
- rails 60 the south and southwest
h, | large tonnage.