The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-01-24

ganized to put up prices TN thar par
ticular branch OF the industry When
Corey Was in the Carnegie Steel COM
pany, before its absorption by the
Steel corporation, he refused Ia go into
the Steel Billet association. he said,
bpt later on the trust did, and he
had to 80 along with IT,
Mr. Dickinson resorted to minutes
Of the Steel corporation which tho
government ~ fully equipped, ana
read off a list of leases between Lhat
concern and smaller companies pre-
ducing iron ore. MIR. Corey listened
with evident Impotence, and finally
blurted cut:
"Td like to say that didn't al
ways approve Of those leases
Judge Gary and leases.
He pointed out that the leases
came before tine finance committee.
ruled over by Judge Gary. one lease
to which Mr. Coray objected was that
owned by James Hin, the railroad
magnate. in the Northwest, which. 20
Mr.. Coreys mind, called Tor an eX-
only bound itself to take an OF the
iron ore due out Of the mine, hat
agreed to do ills shipping entirely over
the Hill roads
~ wasn't in New York when that
lease was signed. protested Mr. Co.
wasn't that property needed by
the Steel Corporation asked Mr.
Dickinson.
Yes. replied Mr.. Corey. "but. MS I
say, the price was. too high III was
at least double what the property was
worth.
Mr. Dickinson turned to the Cob
bling Of the Tennessee Coal and Iron
company by the steel trust. and found
MIR {'araxs u AfF, IN
deal
Tennessee Company
Il see by the minutes al the Car
negie Steel company that the Ten
nessee Coal and Iron companv had
booked number OF nice orders Of
ss'sel rtssls isfefitS't Mr., 'Itft;En-
"At thar time, was the Tennessee
company competitor Of the Carne-
gle in the saIe Of steel rails?"
1t was. said Mir. Corey.
From the Carnegie minutes Mr.
Dickinson read that the Tennessee
Coal and Iron company was manu-
featuring an open hearth" rail.
which was regarded as preferable TO
the Kind Carnegie was turning out
I'm year or so wen be no against
the open hearth proposition good and
hard, the minutes had il. The Har-
riman lines had just placed an order
fer 175,000 tons of steel rails 10 the
Tennessee company, tie minutes re.
vealed. and the Carnegie company
was concerned over it,
That all true" asserted MIR Corey.
Wei, what happened 2"
The steel corporation concluded
that it must set the Tennessee Coal
and Iron company-ana it did" was
the reply.
Helped Steel Trust
"And ii helped the steel corporation
in keeping it's mold upon the mar
ket?"
"Of course. 1t did,
Mr.. Corey admitted that the steel
corporation had formed an arlnor
pool with manufacturers abroad This
came out when minutes we've read
showing that certain executives c{ the
steel corporation were trying, in 1909
to obtain contracts with the japanese
government for the erection. hy Eng
lish and other capitalists, Of an arknor
plant ia. Japan.
AS the minutes had II, the AInorl-
can steel manufacturers were asked
to put IN S2S5.0ee: the others in the
steel combination had to he sieft out"
If they declined 10 nut up heir share.
I'm enlightened,H smiled MIR.
Corey as he listened to TIE recital
Of the minutes.
What diii you think about that2''
asked Ma Dickinson.
Il objected to 1t. as being too cost
ly. answered Mr.. Corey.
!