The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-01-23
FIRST EVIDENCE
o. POOL IN RAILS
Corey Tells Committee of In
ternational Agreement Among
Steel Manufacturers.
ROOSEVELT GOES ON STAND
Reiterates How He Saved
Country From Disaster IN
Tennessee Company.

New York, January 22.-William
Ellis Corey. former president OF the
United States Steel Corporation,
witness to-day in the Federal suit to
dissolve the corporation. furnished the
government with tho .srst testimony it
has been able TO obtain in support OF
i.s allegation that the corporation par
+;cinated in an interns tionai steel rail
pool.
Mr. Corey followed Theodore Roose-
vel. on the stand. after the latter had
reneated his testimony given before the
STANLEY steel investigating committee
.aarerning ACQUISITION of the Tennessee
Coal and Iron Company by the coTpo-
ration during the panic of 1907
Colonel Roosevelt. after reIteraring
.hat no had given his sanction to the
dcal Ito save the country from dls-
aster' and after he had been asked
n he had heard various reports about
nc tennessee Coal and Iron Company
.,.ct,,d;Dr one that the United States
steel Corporation, within year pre-
lions had experts examining the pro-
oertv declared today that not one
hing could have been made known TO
me about that company that wouio
have altered my action
Colonel Roosevelt was examined at
his editorial Offices by Jacob NJ Dicker-
son former Secretary of War. chief
counsel for the government In TINS case
Mr. Corey testified in d room In a
down.ovn office building lie SAID
that as late as 1910 an understanding
rad existed with foreign rail- manu-
facturers under which the steer Corp
o-.tioo agreed not TO compete with
manufacturers in turn agreed not 10
.eet business in the United states
~ was understood. said Mt
Corey. that competition should be
restricted TO neutral markets. countries
which did not produce steel rams
whether in these markets there was
a,x understanding with foreign pro-
d,,,s-s rs 10 prices and a division of
tonnage the witness professeo ighor-
ance- 20 ,bs
United states Steel Corporation
asked Judge Dickinson
Il should not say so repiieo the
witness. o,..
was Mexico assigned TO any one
II don't know about that
Mr. Corey explained that he had nad
l;.tfc 10 do with making the arrange
noen-s himself. but had gained MS
t-ncviedy. from James A Farrell wncn
IN charge of the corporation expo
business who has since succeeded inc
witness as president MT Farreh' ne
I'D had made trips abroad to discuss
the matter with the foreign manuiac-
turers- -
Pool as Late a 1905
Mr. Corey testified 20 the existence
Of a steel rail pool among American
manufacturers as late as is0f under Which
priccs Of rails were kept on an even
tcef and business divided In TINS the
steel Corporation participated. nc salo /.
and wac represented at meetings py
.Tudrc Eibcrt II Gary Charles NJ
Schwab OF himself
AR Corey testified further tnat ono
Of tbs reasons the Union Steel Com
panv was taken over by tho corporation
~as tina: 1t was getting customers iro'n
the Carnegie Company. Inc n.th
com many. he said. bad built tNei'e
plants for the manufacture OF steel oy
nc omen hearth process. At that time a
~ rncthodS ~ soon a. the corpora
ZION rot control. blast furnaces belong
ins 20 the sharon Company. a SUBS.
disrv 81 the Union. had been dismaniieo
he said.