The daily banner. (Cambridge, Md.) 1897-2008, 1913-01-23
QUIZ 7. R. ON
STEEL MERCER
Allowed Trust to Get tennessee
Co. to Relieve Panic.
IDENTIFIES MANY LETTERS
Former President Denies Again That
He Was MisIed Concerning the
Deal

Former President Denies Again That
He Was MisIed Concerning the
Deal.
New York, Jan. 23.-Colonel Theo-
dore Roosevelt was witness when
the hearing of the government suit fol
the dissolution of the United States
Steel corporation was resumed before
Henry D. Brown. the special commits
sioner.
The former president reiterated his
oft repeated declaration that he per
mitted the Steel Corporation to absorb
the Tennessee Coal and Iron company
because of the relief it would give the
country and because 1t would not, ne
believed, give the corporation steel
monopoly. He denied any knowledge OF
the steel trust" entering into pooling
agreements and of all other alleged
acts of monopolization.
Judge Dickinson, former secretary
of war, and Henry e. Cotton repre-
scented the government, and c. A. Sew
erance, David Reed, Jr, Richard
Lindabury and Raymond G. Boiling
represented the Steel Corporation.
The oft-repeated tale Of the absorb
ton by the Steel Corporation OF the
Tennessee Coal and Iron company was
again the nucleus of Roosevelt's testi
mony How he sanctioned the deal was
told by him when he testified before
the Stanley committee last year. AT
that time he was convinced that the
Steel Corporation was actuated only
by desire to check the panic Of 1907.
The government contends that officers
of the Steel Corporation misled Colo
mel Roosevelt as to the status of at
fairs.
Letters which had been exchanged
between Roosevelt, the then attorney
general, Charles Bonaparte, and Roose
velt's secretary, were placed In evil
dence. The former president identified
them all.
One letter from Bonaparte to Roose
velt, dated Nov. 4, 1907, referred to
previous letter of Roosevelt's In which
he had referred to visit paid him by
Henry C. Prick and Judge E. H. Gary
of the Steel Corporation.
Roosevelt was asked only one ques
ton by counsel for the government
whether statements contained in let
ter which he wrote to Attorney Gen
eral Bonaparte concerning the Ten
nessee Coal and Iron deal were true
The colonel replied in the Affirmative.
Mr. Lindabury took up the cross ex
animation Roosevelt testified that he
was aware that the government
through the bureau of corporations
had undertaken an investigation of the
Steel Corporation before. the Tennes,
see Coal and Iron was taken over
"They reported to me unfavorably In
regard to the Standard OIL, but favor
ably in regard to the Steel Corpora
tion," he said.
Lindabury read the colonel's previous
denial that he had been misled by
Prick and Gary concerning the acquisi
ton of the Tennessee Coal and Iron.
'Ts that still true?" he asked. ut is
and I so testify" declared Colone
Roosevelt emphatically.
Dickinson then took up the colonePs
redirect examination. In sanction1ng
the Tennessee deal the witness said ne
had two things in mind"
"One," he explained. "was the RELIEF
It would give to the entire country,
not only New York, but Minnesota,
Louisiana and other states. The other
was the percentage of control of the
steel industry which the United States
Steel corporation would have after The
acquisition of the Tennessee Coal alo
Iron"
did you know at the time that the
United States Steel corporation was
engaged in the fixing of prices of stee.
through joint action Of competing com
panies which 1t controlled?" II had
no such knowledge"
Colonel Roosevelt leaned forward
IT want to say this" he declared
pounding the table with his fist. mot
one thing could have been known
about that company which could have
altered my action. / was dealing with
a panic, a situation that might havs
caused widespread disaster in one hour
II didn't act"